Digital assets and death: what your family actually needs

Some years ago the Financial Times ran a piece suggesting people write down their passwords and share them with family - directly contradicting every cyber-security expert. The instinct behind it was right, even if the method was wrong. Because the underlying problem is real: when you die, if your executor cannot find your accounts, your family may simply lose that money.

The scale of the problem

Government figures have put the value of unclaimed estates in the billions. With paperless banking, the paper trail that once led executors to assets has largely disappeared - the information now sits behind logins, in inboxes, and in heads.

Why sharing passwords is the wrong answer

Executors are responsible for the estate and for obtaining a Grant of Probate before distributing it. They need to know what exists and where - they do not need, and should not have, your logins. Accessing someone else's accounts, even with good intentions, can put an executor in a legally difficult position and exposes everyone to fraud, loss and simple process failure.

What executors actually need

A reliable, current record of what exists: accounts, policies, property, pensions, digital assets - and who to contact. Not the keys, the map.

The safe way to do it

Ad-hoc solutions (files, notes, shared drives) decay: information changes and nobody is reminded. This is exactly the problem the Kinvault - the secure digital record included with every Kinherit plan, provided through our sister company - exists to solve. It holds the record, prompts you to keep it current, and our handover service briefs your executors while you are alive, so the right information reaches the right people at the right time.

Key takeaways

• Executors need a map of your assets, never your passwords
• Unclaimed estates run into the billions because nobody knew the assets existed
• A maintained record plus a briefed executor is what actually protects your family

Ask us about the handover service included in every Kinherit plan.