Your Will Isn’t Complete Without My Vault

As of 2019, around £15 billion in unclaimed assets was lying dormant in various accounts belonging to deceased people in the UK.

Why? Simple - nobody was aware of them.

The 21st Century has seen a rise in online banking and savings, paperless accounts and an increase in people with multiple pensions from various jobs. Between these factors, insurance policies, credit cards and Buy To Let investment, it can often be difficult to keep a full track of exactly what assets and liabilities you may have.

Think now – how many providers or institutions do you use in total across all your bank accounts, savings, ISA’s, pensions, life insurance, credit cards and so on? How long would it take you to recite them all and how many can you not quite recall? Now imagine your family trying to track them all down if you were to suddenly pass away – how many might they miss?

You may have recorded all your current assets. A list on a piece of paper, a spreadsheet on a computer or flash drive. But what if these were to be lost or destroyed? And how up to date are they, even if you do have them?

The process of Probate – tracking down all a person’s assets in order to distribute them according to their will – can take months, sometimes years.

That time is extended not only by the complexities of finding each and every asset but also when assets are found after Probate has been granted when the whole process must be started again.

Your will – if you have one – will only say who you want to benefit from your estate. It doesn’t give details of what that estate is made up of or where to find it all.

Nobody wants to think about the day they die, but everyone wants to know that their loved ones will be taken care of in the best way possible when they are gone.

Wouldn’t it be nice to know that instead of having to trawl through dozens of documents, websites and accounts, your loved ones could simply have access to all the information they needed in one place?

Wouldn’t it set your mind at rest to know that place would be constantly updated, ensuring that when the time came, all of your legacy would be securely passed to your nearest and dearest?

And wouldn’t it take a load off to know that information was in a place where it couldn’t be accidentally lost, stolen or destroyed?

Welcome to My Vault.

“My-Vault” is a safe, cloud-based platform that sits alongside your will, and creates a list of your assets, creditors, properties, insurance policies, utilities, pets, and all your important contacts. We have over 170 data points covered and growing!

Update it at any time as your life situation changes, without the need to make material changes to your will.

Simply list that you hold a My Vault account in your will and testament. With this information your executors or legal representative can contact us and apply for a statement of your account. Once they have passed our stringent security process, we will provide them with a copy of your My-Vault data statement. This statement will provide your executor or legal representative with all the details the need to trace your whole estate.

This will make sure everything is traced and rightfully goes to those provided for in your will.

It’s stress-free, saves time, and unnecessary legal expenses. The less time your legal representative or executors take to track your estate, the less probate may cost, and therefore more of your wealth will be left for your family, and where you want it to go.

The founders of My-Vault have over two decades of experience in the financial services industry. They understand that people’s distribution of wealth is rapidly changing and expanding in a multitude of ways, and there is a need to track and trace its growth.

Over the last 20 years, the management of assets and liabilities has become more difficult as the internet has grown and we’ve started to live in an increasingly paperless society. You can now hop onto your computer and buy stocks and shares, open bank accounts, take out a loan, etc, all without leaving the comfort of your chair, and without leaving a paper trail.

Gone are the days when a black folder held all your statements and financial information. How we keep a track record of our wealth, assets, and liabilities needs to reflect the way in which our consumer behaviours are changing, and that’s where My- Vault comes in.

1) Peace of mind knowing that all of your assets will be distributed to your loved ones when you pass away.
2) The security of knowing that mortgages, loans and tax liabilities will be identified quickly, preventing any nasty and costly surprises for your loved ones after you’re gone.
3) A useful tool that will make your day to day financial life so much easier, and constantly remind you to update this vital information and ensure that your records are always up to date, reflecting your latest financial position.
4) The reassurance your information is in a safe, secure location where it cannot be lost, stolen or destroyed, and where it is easily accessible to those who need it when the time comes.
5) The knowledge that more of your estate will go to those you love, and less to lawyers and other experts in fees as they seek to trace all your assets.

All this for the cost of a coffee and cake every month!

The cost of using My-Vault is simple and straightforward.

It's based on a rolling monthly subscription payment and covers either a single or joint user. There are no start-up costs or upfront fees.

There is also no need to purchase any hardware or software.

Simply click on any "Contact Us" button and complete some basic details to express your interest in My-Vault.

A team member will contact you by phone to answer any questions you may have and set up your private profile(s).

We then conduct an in-depth phone review (or in some cases multiple reviews) in order to collect and create your Personal Data Statement.

Once your first Data Statement is set up, and in order to keep things relevant and updated, we send out periodic reminders and conduct regular phone reviews with you.

Well.....if you don’t keep track of your assets and you pass away without the executor or solicitor having any knowledge of it, you will be adding to the UK’s £15 billion pounds of unclaimed assets. Your subscription fee will be minimal in comparison to an unclaimed savings account with thousands in it, or maybe a life policy worth tens of thousands of pounds.

What is the peace of mind of knowing that ALL your estate goes to your loved ones worth to you?

The cost to you, in reality, is less than the price of Starbucks coffee and a piece of cake each month, but the true value is immeasurable.

The real value to you is peace of mind: you’re not leaving things to chance. You’re not making half-hearted attempts of tracking your assets and liabilities using excel, or random bits of paper shoved haphazardly into a black folder that could be anywhere. That just isn’t safe! What happens if they get lost, burnt, destroyed somehow, or stolen?

Do you keep your important documents on your computer? What if the PC fails, passwords are forgotten, or the hard drive gets corrupted? Even if your family knows where to look, would they be able to find or even access the information?

My-Vault is a highly secure online storage space, its safe, secure, and will always be available to your loved ones when the time comes. All the information they need is in one document.

You’re getting complete confidentiality using electronic means to deliver the documents to your family after your passing. It’s more cost and time-effective than scrambling around trying to find hard copies of everything.

Using our platform and the more up to date you keep My-Vault, the less chance there is of assets and liabilities being overlooked, lost, or unclaimed.

Once the information has been uploaded into My-Vault, it will be securely stored there indefinitely until it’s required by your legal representative. or executor.

If you use My-Vault and keep it up to date, you’re guaranteeing that your loved ones and stated beneficiaries will inherit everything noted in your data statement!

We offer a 30-day money-back guarantee after signing up just in case you are not satisfied with our service.

We know you will love us so much that won't want to leave, and when you see your first personalised data statement, well, we will blow your mind. So we offer no minimum contract and no penalty if you decide you don’t need us any more.

You simply list that you have an account with My-Vault in your last will and testament. With this information, your executors are then able to contact us and apply for a statement of your account.

Once they have passed our stringent but straightforward security process, we will provide them with your My-Vault statement.

This statement will provide the executor with all the details they require to be able to identify where all your assets, liabilities, and things like utilities are held. This will make sure everything is traced and rightfully goes to those provided for in your will.

It’s stress-free and will save an enormous amount of time. This can translate into reduced legal expenses.

The quicker your legal representative can trace your assets and liabilities, the less will be taken from your estate during the probate process in legal and search fees, and the more of your wealth will be left for your family, and where you want it to go.

Crucially, none of your estate will end up languishing in that enormous £15 billion pot of unclaimed assets.

And it’s not just assets – any liabilities you may have – loans, credit cards, Buy to Let mortgages or even self-assessed taxation, will be able to be listed and therefore quickly tracked down and dealt with, saving your loved ones the stress of a sudden final demand for money they may not otherwise have even realised was owed.

Once they have passed our stringent but straightforward security process, we will provide them with your latest My-Vault data statement.

This single document provides all the details they need to track down your whole estate. Things like your savings, assets, liabilities, and death in service.. We can cover over 170 data points and the list is growing!

This will dramatically reduce the stress and time taken to track everything down, making the probate process much easier to sort out.

If you keep My-Vault up to date, this will also ensure all your whole estate is passed on to your family and beneficiaries, so nothing will be lost or left to chance.

Using electronic means to deliver important documents to your family after your passing away is clearly more cost and time effective than them scrambling around trying to find hard copies of everything you owe or own.

In fact, the more up-to-date you keep My Vault, the less chance there is of savings, assets and liabilities being overlooked, lost, unclaimed or settled.

STOP and think. If you died right now, would it take an expensive investigation by your executors and legal representative to track all your financial affairs?

Are you willing to risk parts of your estate being lost because you kept everything in an old grubby folder, or in a spreadsheet nobody can find?

Can you even remember what money you have where without sitting down and thinking about it?

Do you have frozen pension plans or income bonds you simply forgot about? How many credit or debit cards do you currently have sitting in your wallet or in a safe place, and with how many banks? What about savings, bank loans or life policies?

Don’t become a statistic! Every year, billions of pounds are unclaimed because no one knew about them. Don’t let this happen to you and your loved ones!

If you are thinking: “This won’t happen to me as I have a will”, think again.

Your will tells your executor who gets what.. But it does NOT tell them what it is and where to find it all!

Consequently, huge amounts of wealth can be lost during the probate process. Wealth you have worked hard to accumulate that will not benefit your loved ones after you die.

And this is tragic.

Remember, any unclaimed estate will eventually go to the Crown if the rightful beneficiaries can’t be found. This includes any property, money, personal possessions and anything else that you owned.

My-Vault’s secured servers are equipped with the latest security measures and redundancies, backed up on a cloud meaning nothing – even hardware failure – can compromise your data.

Its 3 easy steps.

1) Sign up today - Contact us to express your interest to open a My-Vault account.
2) A team member will contact you by phone to answer any questions you may have and set up your private profile(s).
3) We then regularly help and remind you to keep your information updated over the years

Relax in the knowledge that your beneficiaries will be looked after and no one else will be getting your hard-earned assets!

We take your data protection extremely seriously. Once a bit of information has been uploaded into your My Vault account, it will be securely stored there according to our terms and conditions. For more information, please refer to our latest Terms and Conditions and Privacy Policy. We are also registered with the ICO (Information Commissioner’s office).

Before you have a family discussion about inheritance, you need to have a good idea of your financial position and your intentions:

1. Who do you want to receive your wealth?

It sounds simple enough, but potential beneficiaries don’t always realise they will be sharing their inheritance with others, such as grandchildren, charities or friends. While this may result in a difficult conversation, at least you will be helping your beneficiaries be more realistic about their financial future. This is where will writers are really beneficial.

2. Establish how much you are likely to pass down?

This is quite complex, and it’s worth seeking advice from a financial planner. Firstly, you should write down the total value of your assets, where they are held and how they are invested. (As an aside, it may be worth considering consolidating accounts to minimise paperwork and administration for you moving forward.) Then you need to calculate how much you think you will need for the future. Obviously, this is hard to predict as you don’t know how long you will live and how healthy you will be, but it’s good to make some predictions. Lastly, you need to consider how you would fund possible care expenses if the need arises.

3. Gift now or leave for later?

Once you have been through this exercise, you should have a better idea of how much money you have, how much you will need, and how much you could potentially gift now. *Always seek professional financial, tax and legal advice before doing this.

4. State your wishes

Do you want to have a say on how the assets are spent or used? Are you happy to provide an outright gift with no conditions attached? State your intentions now so that your beneficiaries know what to expect.

5. Plan to minimise inheritance tax (IHT)

With the help of a financial adviser, work out your IHT position (in total) and on each asset (individually) you have. Once you have this information, you can start considering how you can reduce your inheritance tax by reviewing all the different allowances and options available. You should also fund your expenses from assets that are subject to IHT, as this will help reduce your taxable estate.

6. Leave a guide as to where to find all your assets and liabilities.

This is where My-Vault really comes into play!

We do not charge to produce a data statement when someone has passed away. Your monthly subscription covers the administration of this.

If its a joint account, the second account holder can simply contact us for a copy of the data statement.

If there is no second account holder, or both account holders have passed at the same time, the deceased's executors or their acting legal representative can contact us and apply for a copy of the deceased's data statement.

Once they have passed our stringent but straightforward security process, we provide them with a copy of the data statement for free.

*Please note there may be charges if an account is in arrears. Please see our terms and conditions for more information.