Do I need a will and a digital inheritance vault?
A will says who gets what. A vault says what there is and where to find it.
What a will does
A will is a legal document. It names your executor and says who should get your money, property and belongings after you pass away. It is the only thing that can do that, and everyone should have one.
What a will usually leaves out
Most wills do not list your accounts. They say "my estate", not "the savings account at Nationwide and the old workplace pension from my first job". So your executor knows who gets things, but not what there is or where it is. Finding that out is often the slowest part of sorting out an estate.
What a digital inheritance vault adds
A vault is the list your will points to. Your banks, pensions, policies, property, online accounts, where the will itself is kept, and any wishes or messages. It is private while you are alive and passed to your executor only after a verified death.
Which one first?
If you have neither, make a will first. It is the legal part. Then use a vault so your executor can find everything the will covers.
What is a digital inheritance vault?
A digital inheritance vault is a private, encrypted record of what you own, where it is, and who to contact, kept for the people who will sort things out after you pass away. It holds the map, not the money and not your passwords. More about digital inheritance vaults.
Questions
Does a digital inheritance vault replace a will?
No. Only a will can legally say who inherits. A vault records what exists and where to find it, so your executor can carry out the will.
Can I keep my will in a digital inheritance vault?
You can record where the original is kept and who wrote it. In England and Wales the signed original is what counts, so keep that somewhere safe and write down where it is.
Leave your family a map, not a mystery.
Write down what you have and where it is, in an evening. Locked so only you can read it. Passed to your executor only after a verified death.