When someone dies, how do you find out what assets they have?

If someone close to you dies, locating their assets may feel overwhelming. Taxes, bank holdings, pensions, and other investments can be hard to locate. This article outlines straightforward methods to find what someone owned and ensure all assets are properly captured. 

Searching for bank accounts and savings

A sensible first step is reviewing any paperwork or digital records. Look for bank statements, correspondence, or login details. If none are found, you can use the Death Notification Service to alert multiple banks at once. Most major UK banks participate, which reduces the need to contact each separately. 

You can also use the free My Lost Account service. This helps trace dormant or forgotten savings and National Savings & Investments (NS&I) accounts by submitting basic personal details. Responses typically arrive within three months. 

Unclaimed asset registers

There are free public tools to check for missing assets linked to someone who has died. These include dormant bank accounts, pensions, life insurance policies, or shares that have not been claimed. The government’s unclaimed assets portal and the Pension Tracing Service can help you track down assets without cost. 

If someone intended to leave their heir access but was not properly documented in family records, these registers provide an essential safety net. Total unclaimed estates in the UK exceed several thousand, collectively worth billions of pounds. 

Requesting financial information

Once HMRC has been notified of the death, Personal Representatives (PRs, such as Executors or Administrators) can request details of the deceased’s tax affairs. HMRC’s bereavement helpline may provide information about pensions, PAYE, self-assessment records, and even bank account entries registered with HMRC.

If the deceased was self-employed or had business assets, further documents may be required, such as Construction Industry Scheme or VAT accounts. These help form a full picture of their financial position.  

Tracing inheritance or investments 

For shares, ISAs, Premium Bonds, or unit Trusts, public registries, provider portals, or specialist probate researchers may help locate holdings.  

Using financial tracing tools helps ensure that even minor holdings are not overlooked and properly included in the estate valuation. 

Why it matters and next steps

Identifying all deceased assets ensures the estate is fully documented. It allows HMRC to assess Inheritance Tax (IHT) accurately, ensures debts can be settled from available funds, and that all beneficiaries receive their due share. 

Once the assets are located: 

• Executors should collate and value each item.
• If assets exceed the Inheritance Tax threshold, tax returns may be required.
• Estate accounts must record all assets and liabilities before funds are distributed.

Missing assets can delay probate and lead to potential disputes or claims down the line. Proper asset tracing makes the process fairer and more transparent for all involved. 

Final summary 

Here’s a quick checklist to help find assets after someone dies: 

• Review personal records and use the Death Notification Service.
• Submit stubs with My Lost Account and the Pension Tracing Service.
• Use unclaimed asset registers to check for forgotten holdings.
• Contact HMRC for tax and income information tied to the estate.
• Consider a specialist probate researcher if the records are sparse.

Tracing assets need not be costly or daunting. Free online tools, combined with systematic searching, can bring clarity and peace of mind when dealing with a loved one’s estate.