If Something Happens to You, Will Your Family Find Your Investments?

In many Indian families, one person handles the money. They know where the FDs are, which app has the SIPs, and when the insurance is due. Others in the family usually do not know these details.

This becomes a problem if that person is not available, for example during a hospital stay. The family then has to search through papers and phones to find things. This post shows how to avoid that. You can get started in about an hour.

The problem with one person knowing everything

This is not because the family does not care. They just never needed to know. You set up the SIP, so you track it. You opened the FD, so you renew it.

But think about what your spouse or child would need if you were not around for a month:

• Which accounts exist and at which banks
• Which investments are where
• What payments go out automatically
• Which insurance policies cover whom
• Who to call for help

If only you know the answers, it is time to write them down.

Build an asset register

Start with a simple list of everything you own. For each item, write:

• Type of asset (bank account, FD, mutual fund, shares, PPF, EPF, insurance, property)
• The institution
• The last four digits of the account, folio or policy number
• The nominee
• Where the documents are

You do not need exact values. A rough figure and a date is fine. What your family needs most is to know the item exists. Our guide to building a family financial inventory has a full table you can copy.

Record where, not passwords

Many people write all their logins and passwords in a diary for the family. This is risky, and it does not help much, because when an account holder dies, the family should not log in as them anyway. Banks and fund houses have a claim process, and using someone's credentials after their death can create legal problems.

So write down:

• Where each account is
• Where the documents are kept
• Who to contact at each institution
• Where the will is, if you have one

Leave out passwords, PINs and OTPs entirely.

Review nominees and ownership

Go through each account and check the nominee. You may find old accounts that still name a parent from before marriage, or policies with no nominee at all.

Update nominees through each institution's official process. For banks, you can now name up to four nominees on an account, after amendments to banking law came into force on 1 November 2025. For mutual funds and demat accounts, SEBI revised the nomination rules in 2025 and again in 2026, with the latest rules applying from 1 September 2026. Your bank, fund house or platform will show you the current options.

Also check how accounts are held. A joint account with "either or survivor" works very differently from a single account when one holder dies.

And keep in mind: a nominee is not always the final owner. In India, nominees often receive money on behalf of legal heirs. If you want specific people to inherit specific things, write a will.

Store documents safely and decide who can access them

Keep originals in one place, such as a fireproof box at home or a bank locker. Keep scanned copies in a secure, password-protected folder. Government documents can also be stored in DigiLocker.

Then decide who should be able to access the register and the documents. Usually it is your spouse and one adult child or sibling. Not everyone needs everything.

Tell a trusted person where it is

The register is only useful if someone knows where it is. Tell at least one person:

• That the register exists
• Where it is kept
• How to open it if it is in a locked folder (share access to the folder through a secure method, not your bank password)

A short conversation is enough. For example: "Everything is listed in the blue file in the cupboard, and a copy is in the shared folder."

Review after big life events

Update the register and nominees after:

• Marriage or divorce
• The birth of a child
• A death in the family
• A new job, with new EPF and insurance
• Buying or selling property
• Moving to another city or country

Your one-hour action plan

Fixing the nominees will take longer, since each one needs the institution's process. But after this first hour, your family will already know much more than before.

More guides on nominees and family continuity

• The family emergency financial file: what to include and how to store it
• How to review nominees across your family's financial accounts
• Mutual funds without a nominee: what families should check
• What happens to your SIP if you die?
• How a family can find mutual funds after an investor dies

Frequently Asked Questions

Should I give my spouse my banking passwords?

No. Sharing passwords is risky and usually against bank terms. Instead, make sure your spouse knows which accounts exist and is named as a nominee or joint holder where appropriate.

What is the easiest way to show my family all my investments?

A written register is the simplest start. A family investment account, where members approve sharing, can also show everyone's investments in one view without sharing logins.

Do I still need a will if I have nominees everywhere?

Yes. Nominees may receive money on behalf of legal heirs, and a will decides who finally inherits. Having both avoids confusion and disputes.

How often should I update my investment records?

A quick update every quarter and a full review once a year works well. Update straight away after any big life event.

To see where your family stands, take the free Family Health Check. It asks simple yes or no questions about visibility, nominees and planning. A Kashly family account lets family members see each other's investments in one place, only after each person approves.