Your Personal Balance Sheet: What It Is and Why Everyone Should Have One

Think of this as a map for your family, not a treasure hunt. It’s a single document listing what you own, what you owe, and where everything lives — plus who to contact. When something happens, this saves weeks of detective work and reduces the chance that assets go missing.

What to include (keep it simple, but complete):

  • Banking & cash: Banks/building societies, account numbers (or last 4 digits), where statements live, named contacts.
  • Investments & pensions: ISAs, holdings, platforms, NS&I, Premium Bonds, certificated shares, crypto wallets; pension providers and death benefit nominations.
  • Properties: Addresses, title numbers, mortgage details, where the deeds are.
  • Insurances & protection: Life cover (and whether it’s in trust), home/car policies, income protection, business/key-person cover.
  • Debts & commitments: Mortgages, loans, credit cards, HP/lease, guarantees.
  • Business interests: Companies, partnerships/LLPs, shareholder or partnership agreements, accountant and lawyer details.
  • Digital assets: Email, cloud photos, social media, password manager/legacy contact set-ups, crypto keys.
  • Valuables & “the teapot”: Jewellery, art, collections, vehicles — and anything sentimental that could cause a row.
  • Professional contacts: Accountant, solicitor, financial adviser, bank manager, key business contacts.

How to keep it useful (not exhausting):

  • One or two pages is fine — think index, not encyclopedia.
  • Update annually (tax-return time works well) or after big life events.
  • Store it safely (with your Will at the solicitor, or an encrypted copy). Let executors know where it lives.
  • Use a password manager with legacy access rather than writing passwords.


Common mistakes:

  • Listing assets but no provider contact details.
  • Forgetting old pensions, dormant accounts, Premium Bonds.
  • Not noting who owns what (joint vs sole, business vs personal).
  • Omitting nominations (pensions, death-in-service) and whether policies are in trust.


Practical tip: Don’t chase perfection. A clear, 80%-complete list beats a beautifully formatted blank page.

Call to action: Ask Lucy for our balance-sheet checklist — it’s the fastest way to get version 1 done.

Back to You are not Immortal – a practical guide to a delicate topic – IHT

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