Reduces future stress for loved ones
One of the biggest admin headaches after death is finding the right information. The Kinvault prompts you for everything your family and executors will need to make probate faster and much less stressful.
Ensures your assets don’t get lost
Each year millions of pounds worth of assets are uninherited because families just don’t know they exist. Keeping a list of what you own and where it is means your loved ones are able to inherit everything.
Access securely and easily
The Kinvault uses the latest encryption and back-up technology, so your information is more secure than if it was held as laptop files or paper records. And being online means you can access it from anywhere.
The Kinvault offering has already proven very useful to us in creating a single, consolidated view of our assets. I haven't seen anything like this elsewhere and it's an extremely useful feature.
What should I put in a Kinvault?
If someone had to step into your shoes tomorrow, what information would you want them to have? It might be something as simple as what the Vet's number is, or where the backdoor key is - but it should also include your key documents, such as your Will and Lasting Powers of Attorney.
Legal documents
All your critical legal documents, from your Will and Lasting Power of Attorney to things like the deeds to your house or details of any trusts you’ve set up.
A list of your assets
An inventory of all your worldly goods, including properties, bank accounts, investments, life insurance policies, pension information and any company shares.
Gifts you’ve made
A list of the amounts and dates of any gifts you’ve made which may be subject to the seven-year inheritance rule.
Key contacts
Names and contact details for your executors, beneficiaries, and key advisers (eg financial adviser or solicitor) as well as particular friends or family members.
Care documents
If you have a care plan in place, this is where you keep any documents you may have prepared, including last day wishes and resuscitation instructions.
Life admin
Utility providers, car documents, where you keep your spare house key, instructions for your pet – record all the practical areas of your life that your family will need to sort out for you.
Funeral wishes
Help your family arrange your funeral, from details of any pre-paid funeral plans to hymns, songs, music, readings and a list of people you would like to attend.
Personal messages
Add specific notes to be passed on to the special people in your life, or upload recorded messages for them.
It's really comforting knowing that key information about my buy to let properties will get passed to my husband - he wouldn't know where to start otherwise.
FAQs
Because we’re storing your most important data, security is our highest priority. We’ve put in place the most advanced levels of protection to ensure your data can only ever be accessed by those you trust.
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Our limits should be ample for all the practical documents and information you need to store. That said, the Kinvault isn’t designed to act as a full back-up solution, so storing your entire film collection isn’t what it’s for! Should you hit one of our limits, we’ll let you know.
As part of your set up, we will guide you through permission setting, which could include things like allowing your Attorneys (under a Lasting Power of Attorney) to get access to your asset information if you are incapacitated (ie to allow them to do the job that you have appointed them to do). And you can also grant permissions in certain other situations, such as your financial adviser getting access to your asset information, to support your financial planning.
Yes – it depends on their role, the situation and the permissions you grant. Data changes are also logged for your protection.
In life, for your protection, your Kinvault is principally accessible only by you (or you and your partner for mirror Wills). You can ask that your Financial Adviser is granted access to your assets section, to allow them to keep it update and help you with your financial planning. Our estate planners can access your legal documents section to provide support to you on your Will and other documents. Otherwise, access is restricted prior to incapacitation or death, at which point, and subject to passing security checks, relevant information can be passed on to the people who need to receive it.
We provide the Kinvault for free if we write your Will for you, with no ongoing costs. If you already have a Will, we can set up your Kinvault for an initial fee and there’s a small annual charge.
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The Kinvault is designed to store the locations of your bank accounts (and other assets), but not the log in details. By listing the locations, you simplify the process for your executors to legally gain access through the proper channels. Note the storing of passwords goes against our terms of use, as it could lead to your executors getting into trouble for not following the correct protocol.
Because you’re likely to have a Kinvault for many years, it’s understandable that your main concern is whether we’ll still be around when you actually need to use it. In this extremely unlikely event, we’ve put in place the necessary planning to ensure all your data would be safely returned to you (or your executors) as digital files that you can then move elsewhere. Any copies we had would be destroyed.