Financial Statement of Assets

A Financial Statement of Assets is designed to record your broad estate value for the following reasons:

1. As an aide-memoir to your Executors to ensure that things such as life insurance policies, stocks and bank accounts do not get forgotten about, and as a result, become excluded from your final estate. 

2. To easily enable our advisor to be able to establish whether or not you have an Inheritance Tax liability and where you do, recommend an appropriate FCA-regulated specialist advisor to discuss this further with you.

3. To show that under Banks v Goodfellow 1870, you have demonstrated one of the three key components of Testamentary Capacity i.e. a full understanding of the extent of your estate.

We will not record bank account numbers, sort codes, passwords within this statement, and neither will we ask for these.

If you have elected to provide a statement of assets you can have this information printed by ourselves to sit alongside your Will or you can simply have this record available to your Executors should they wish to contact us in the future.

As is our standard operating procedure, we will contact you every five years, and if you elect to update your Will at this point we will also amend the statement of assets accordingly without further charge.