My Financial Briefcase
The last book you will ever need…
Did you know that in the United Kingdom alone, up to £15 billion lay dormant in forgotten bank and building society accounts, investments and pensions. Imagine reclaiming lost assets that are rightfully yours and securing your own assets for your loved ones’ future.
After someone dies, establishing what they have owned and conducting their affairs, is sadly, often very daunting and time consuming. Identifying a deceased person's assets and then distributing to beneficiaries is not a straightforward process. Valuables and wealth can vanish over time, leaving beneficiaries at a loss. You will be amazed at how many people don't have a Will (55% of the population), but more importantly those that do, sometimes cannot remember where their Will is stored! It's crucial to safeguard this vital information so that your wishes are honoured, and your family's financial security is assured.
Many of our clients needed our help and we couldn't find any good tools available, therefore we had to find a solution to the problem!
Enter Your Solution: 'My Financial Briefcase'
We understand the challenges you face, which is why we've meticulously created 'My Financial Briefcase' to empower you in navigating the complexities. It has been designed to securely, seamlessly integrate into your daily life to make life easier for you, your family, Executors, Solicitors, Attorneys, Beneficiaries and Professional Advisers.
'My Financial Briefcase' is just 74 pages, where you will find find a systematic approach to recording your personal and financial details. From crucial documents to medical information, from important contacts to your beloved pets' details, we've covered it all. Even space to remind you when your car tax and insurance due dates are, at your fingertips, ensuring you're always prepared. But it doesn't stop there! 'My Financial Briefcase' delves into the sad yet vital aspects of life such as your specific wishes at the time of your passing and funeral arrangements. Find peace of mind in knowing your desires will be honoured while safeguarding your estate and important information and documents from being lost.
And that's not all. Our comprehensive guide features a directory of essential websites to help you trace any unclaimed assets, potentially reuniting you with valuable resources that rightfully belong to you and your family. Best of all, this service comes at no cost to you.
Secure the future of your hard earned wealth and assets now. Don't let your legacy fade away. With 'My Financial Briefcase,' ensure your wishes are followed, your family is provided for, and your financial footprint endures for generations to come. Your journey to a worry free legacy begins today.
Exploring Probate: Understanding the Process and Implications
Probate serves as a comprehensive procedure for managing the affairs of an individual who has passed away. The process involves the organisation of their financial resources, assets, and possessions, followed by the distribution of these assets as inheritance. It's a meticulous process that involves various legal and financial steps, including the settlement of taxes and debts.
In scenarios where the deceased individual has left behind a valid Will, the document will designate an individual of their choosing to oversee the administration of their estate. This individual becomes the role of the executor, responsible for ensuring that the deceased's wishes, as outlined in the Will, are carried out faithfully.
What if you don't have a Will?
In cases where a Will is absent, the Probate process takes a different trajectory. The distribution of the estate and assets could be subjected to court proceedings, potentially extending the timeline significantly, stretching into years.
The absence of a Will might also entail additional expenditure and effort on the part of the deceased's family, as the Probate process winds its way through the legal system. The court will intervene to dictate the distribution of the estate according to the rules of intestacy. These rules prescribe a predetermined order of inheritance based on familial relationships, bypassing the personalised wishes that a Will would have captured.
What We Offer
Book Version
This version of My Financial Briefcase is an A4 size book printed on high quality paper consisting of 74 pages which you can fill out by hand. It has a thick laminated cover and back and a high quality wire binding holding it all together.
Features Include:
High quality interior paper
Thick and laminated high quality cover and back to protect from food or drink spillages
Wire binding for ease of use and the ability to remove pages if necessary
Checklist to mark off completed sections
PDF Version
A PDF document which you can save and complete on your phone, tablet or computer. All of the sections in the PDF document are fillable and you can jump to any section of your choice from the contents page. We recommend password protecting this document and keeping it stored in a safe place.
Features Include:
Every section and box you would write in is fillable for you to type into
Each section of the contents pages is a clickable link to the correct section in the book
Checklist to tick off completed sections
Useful clickable links at the back of the book
The Purpose Behind This Book
Estate administration (also known as Probate) is the entire journey after someone passes away involving discovery of what they owned, what they owed (like debts), and then sharing whatever's left among their beneficiaries. But trust us, it's not as simple as it sounds.
When someone passes on, figuring out everything they had isn't always a walk in the park. Sometimes, new things are found after the Probate process has started or even finished. This can mess with how much tax needs to be paid for the estate. Plus, it might mean that some of the steps already taken in Probate have to be redone.
Even close family members tend to keep money and property affairs quite private. One of the big challenges is figuring out exactly what makes up the person's estate that is left behind.
We are 100% confident that your loved ones, Beneficiaries, Executors, Solicitors, Attorneys, and Professional Advisers will be really happy that you took the time to detail what you own and where it is.
That's exactly why 'My Financial Briefcase' was born – to lend you a hand and make life smoother for everyone involved. Even though death is a sad reality we all face, this book makes sure that when your time comes or if you can't make decisions anymore, everything happens according to your wishes.
The book is neatly organised, with a simple structure to follow. Just fill in the boxes where you can and add any extra details in the notes sections.
It is a comprehensive document, designed to include all of your wishes in all aspects of your life. There are sections you can complete immediately and other areas which may take a little longer, or you may wish to leave blank.
This is not a definitive list of information merely a suggestion of requirements. It has been written to help you organise your affairs whilst you are still fit and sharp. This document should be updated regularly as items will change over time.
We would always recommend that you review your finances at least once a year.
About the Author
Ken has been providing professional Independent Financial Advice to private individuals and corporate clients, both large and small, for over 36 years. As a Financial Advisor, Ken prides himself in offering integrity and a dedicated focused service, bringing a wealth of knowledge to help clients achieve their financial goals. Ken is proud of the service that he provides and the testimonials of his many long established clients reflect his high standards and professionalism. Ken has been described by clients as working in a friendly relaxed manner, whilst providing clarity and unravelling the complex world of financial services.
As a qualified member of The Institute of Professional Will Writers, Ken also assists with the construction of Wills and Lasting Powers of Attorney, Probate and specialist trust work. This helps clients greatly in the areas of Inheritance Tax Mitigation, Estate Planning and Long Term Care.
Ken gives his time freely, to support small businesses through Southern Entrepreneurs, charities, rotary clubs and secondary schools to assist teenagers in the transition from school into employment. As a member of Solent Speakers (Toastmasters International), Ken helps people to become more confident in public speaking.
In his free time, Ken enjoys spending time with his family, walking with the family's rescue dog, coarse fishing and motorsports.
Qualifications
CII – Diploma in Regulated Financial Planning (CertPFS)
C/SQA – Diploma in Professional Financial Advice
CII - Chartered Insurance Institute Financial Planning Certificate
Coventry University - Certificate in Professional Development (CPD)
AIPW - Associate of the Institute of Professional Will Writers
Statement of Professional Standing (SPS)
My Financial Briefcase includes sections on:
Personal Details
Important Documents
Key Contact Details
Medical Information
Personal Property
Pets
Financial Information
Computer an Technology Details
Accounts and Payments
Business Interests
In the Event of My Passing and my Funeral Wishes
Other Information and Personal Wishes
What to do in the event of a loved one passing
Why you need a Will and Lasting Powers of Attorney
Useful Websites and links to Trace Lost Assets
Testimonials
“What a super idea, and everyone should have one”
Mike B
“Thanks for sending this through. I have been through it and I think it is excellent”
Dr P Kilcoyne
“Thanks for this, its very comprehensive”
Annie S