If something happened to you tomorrow, could anyone find what they need?
Most of us assume that if we died, our family would simply "sort it out." In practice, sorting it out usually means an executor working from memory, old paperwork and guesswork, trying to piece together what someone owned, owed, and where it was all kept. When that picture is incomplete, accounts get missed, money goes unclaimed, and probate takes far longer than it needs to.
How much money is sitting unclaimed?
The scale of this is larger than most people expect. As of early 2026, there were over 5,000 unclaimed estates across the UK, referred to the government's Bona Vacantia Division because no one had come forward to claim them, with a combined estimated value of around £1.48 billion. London alone accounted for over 1,600 of these estates. The oldest unclaimed estate on record dates back to 1974, over 50 years unclaimed.
That's the most extreme end of the problem, entire estates with no known next of kin, but the underlying cause is one that touches many more families in a smaller way: over half of people in the UK don't have a will, rising to 57% in London and the South West. Without a will, and without a clear record of what someone had, it becomes far harder for even a willing, capable family member to find everything that needs to be dealt with.
Why things get missed
An executor typically has to work out, often from a standing start, questions like:
- Which banks and building societies did the person use, including any old or dormant accounts?
- Were there pensions from previous employers, which are notoriously easy to lose track of over a working life?
- What insurance policies existed, including life insurance that the family may not know was in place at all?
- Was there any premium bonds, shares, or other investments?
- Where is the property paperwork, mortgage details, or lease?
- Who are the professional contacts, such as a solicitor, financial adviser or accountant, who might already hold relevant documents?
- Where, in fact, is the will itself?
Each of these takes time to trace even when the answer exists somewhere. When it doesn't exist anywhere written down, tracing services and probate researchers can be brought in, at a cost, and even then, some assets are never found at all.
What a master file actually needs
None of this requires anything elaborate. A single, clearly organised document, sometimes called a master file or "what I have and where it's kept," that covers:
- Where the will is kept, and who has a copy
- Bank and building society accounts, including account numbers or at least the providers
- Pensions, current and any from past employers
- Insurance policies, including life insurance and funeral plans
- Property details: deeds, mortgage or lease information
- Debts, so the estate isn't caught out by anything owed
- Professional contacts: solicitor, financial adviser, accountant
- Digital accounts (worth cross-referencing with a digital legacy note, if you have one)
The value of this document isn't just that it saves time. It also means nothing gets missed simply because no one knew to look for it. It's worth updating it every so often, and telling your executor, or a close family member, that it exists and roughly where to find it.
Why this matters
A well-organised master file can turn what would otherwise be weeks of searching, guessing and chasing organisations for information into a much shorter, more manageable job, at a time when an executor is often also grieving and holding down their own life and work.
This is precisely the gap An Ordered Life exists to close: helping people put together that single, organised record, before it's needed, so nothing gets left behind.
This article is general guidance, not legal or financial advice. If you don't currently have a will, or aren't sure whether an existing one is valid and up to date, a solicitor is the right person to speak to.
References
Weightmans, Research reveals UK regions with the most unclaimed estates in the UK
GOV.UK, Unclaimed estates list
GOV.UK, What to do after someone dies
