What Financial Information Should Your Family Know About You?

If you were in hospital for two weeks, would your family know how to pay the bills, which policy covers your treatment, or when the home loan EMI is due?

Most of us keep these details in our heads and never write them down. This post explains what your family needs to know about your money, what can stay private, and how to put it all on one page.

Your family needs a map, not your passwords

There is a big difference between your family knowing what you have and being able to log in as you. They need the first. They should not have the second.

A map tells them that you have a savings account at Bank A, mutual funds with two fund houses, a term policy and a home loan. With that, they can contact the right institutions and follow the right process.

Passwords and OTPs are a different matter. Using them after someone dies or while they are incapacitated can create legal trouble, and keeping them written down is a security risk every single day.

Accounts and assets to list

Write down every place your money sits:

• Savings and current accounts
• Fixed and recurring deposits
• Mutual funds (fund house names are enough to start)
• Demat and trading accounts
• PPF, EPF, NPS and any post office schemes
• Gold, physical or in bonds
• Property
• Money you have lent to someone
• Any business interest or partnership

For each, the institution and last four digits of the account number are enough.

Income, bills, loans and regular payments

Families need this information first. If you are the earning member, they need to know how the house keeps running.

• Where your salary or income comes in
• Rent, EMIs and their due dates
• School fees and when they are paid
• Utilities, phone and internet
• SIPs and other auto-debits
• Insurance premiums and their dates
• Credit cards and roughly what is usually due

Insurance, nominees and retirement benefits

List every policy, whose life or health it covers, and the nominee. Include employer group insurance, which many people forget.

Also note your EPF and NPS details, and any gratuity due from your employer. These can be meaningful amounts and families often do not know they exist.

Check nominees while you are at it. Accounts opened years ago may still name someone who is no longer the right person. Our post on making sure your family can find your investments explains how to review them.

Property and legal documents

Your family should know where these are kept:

• Property papers
• Your will, and who the executor is
• Any power of attorney
• Loan agreements
• Your marriage certificate and children's birth certificates

They do not need the documents with them. They only need to know where they are.

Trusted contacts and institution details

Add a short contacts list:

• Your CA or tax consultant
• Your bank relationship manager or branch
• Your insurance agent or the insurer's claims helpline
• Your HR team at work (for group insurance and EPF)
• A trusted friend or relative who knows your situation

What should stay confidential

Some things should not go on any shared list:

• Passwords, PINs, OTPs and security answers
• Full card numbers and CVVs
• Net banking user IDs, if you can avoid it

Some things are your choice. You may not want to share exact balances, or details of money you give to a relative. That's fine. The list can say "personal account, Bank C" without more detail. The family will at least know it exists.

A one-page family information sheet

Here is a template. Fill it in, print one copy for the home file, and keep a digital copy somewhere secure.

Then tell your spouse or a trusted family member where the sheet is. Many people forget this step.

For a more detailed list across all members of your household, see our guide to the family financial inventory.

Frequently Asked Questions

Should my spouse know how much money I have?

That is up to the two of you. At minimum, they should know which accounts and investments exist so they can find them in an emergency. Exact amounts are less important.

Is it safe to write all this on paper?

Yes, if it has no passwords or PINs and is kept somewhere secure. Account names and institutions on their own do not let anyone take money out.

What is the most important thing for my family to know?

Where your list is kept. Everything else follows from that.

How often should I update the sheet?

Every few months, and immediately after a big change like a new loan, a new policy or a job change.

To check how ready your family is, try our free Family Health Check. If you want your family to see your investments without sharing any logins, a Kashly family account lets each member approve what is shared.