More than 40 million adults haven’t organised their important financial information well enough to allow their loved ones to easily locate it when they die.
Research by Royal London shows only one in four (23%) adults have organised their financial information well enough.
Mona Patel, consumer spokesperson at Royal London, said: “While it’s unsurprising that money and health are the nation’s top priorities, it is worrying that only a quarter of people have their financial information organised well enough to let someone else deal with it.
“It’s not nice to have to think about dying, but the last thing you’d want is for your family to struggle to locate and deal with your finances.
“Perhaps a first step could be writing an “after I’m gone list”, to make it easier for loved ones to deal with your finances.”
Just over 10% of adults admitted that it would be very difficult for anyone to handle their financial affairs after they died.
Those over-55 are three times more worried about their health compared to under-55s according to the research, yet almost half (46%) of millennials say money is their main concern.
In the event of death, 21% of families obtain cash from the sale of a property.