Would you tell your married kids everything about your finances ?

I have a spreadsheet on my laptop marked with an inconspicuous name. It has a password, which my children both know (the 'family' password that we all use for shared things), and the name of the spreadsheet is in the will. On there is a list of bank accounts with the information they might need to log in.

If I lost the laptop, a dishonest finder would need to bypass the fingerprint access, know which spreadsheet to open, as well as the password and have access to my mobile in order to get around the 2 step ID required to transfer money from my account to theirs as a new payee. I think it's all pretty safe.

They both have FPOA, so if they needed money on our behalf before we die they could access it that way. If they want money for themselves, they would only have to ask - if we could afford it they could have it, and in the event that they needed it they could have our last penny. I trust them both implicitly. I trust their partners too, but am aware that divorce etc happens and I can't see into the future, so they are not part of the arrangements.

We have a list of where all our assets are banks , building societies etc. and have given that to our children so they know where to look but we have not told them how much is in these accounts. We did have our house valued and they know what that came to .

I would discuss it with the solicitor when you go to make your new Wills, they are registered somewhere, it used to be Somerset House, I don't think you need to put exactly how much or where your assets are held into your new will but more on how you would like it to shared and with whom. You can then put a copy of the will in a safe place at home with details of where your assets are kept , Bank & Building Soc, stocks and shares etc and Account numbers and any life ins policy you may have. Make sure you update things if things change. Tell your sons where things are kept it anything should happen to the two of you at the same time. When only one of you is left you could review things as needed then 're power of Attorney etc.

My younger son knows about our finances. I say why not use him as he is a chartered accountant. Very reliable.

Libz you already have a thread running on this, maybe ask HQ to cancel this one?

That’s a dilemma we all face. If you have made Wills, what is the problem? And if it is a fair Will, ie equally shared between your 2 children, I don’t see a problem. I certainly don’t mind my children knowing what I have. What “assets” are you talking about? Hidden assets? And I don’t see a problem with letting them know. I am very open with my children and tell them what I have and don’t have. And it will all be equally distributed except for jewellery , most of which will go to my daughter.

I wouldn’t. But I would make sure both know where the relevant paperwork is for when it’s needed.