Letter of instruction: how to leave your finances in order for your family

What to write in a letter of instruction so your family knows what you have and where, what never to write, and a free template to do it today. Without giving them your passwords.

A resource by Utropía

In Spain there's no register of bank accounts that your family can consult. The Banco de España says so plainly: it cannot create one. If nobody knows you had an account, nobody is going to tell them.

And what is forgotten ends up with the State: balances with no activity for twenty years pass to the public treasury (Hacienda). In 2021, the latest year with Banco de España data, that came to about €29 million.

A letter of instruction turns months of searching into an afternoon. Here's what to include, what to leave out, and a template to write yours today.

Free template

Letter of instruction for your family

A Word document with ten sections to fill in: accounts, investments, insurance, debts, bills, digital life and a few words for your loved ones.

Download the template (.docx)

What to write down

Accounts and deposits

Bank, type of account and the last four digits. Who else is an account holder, and whether it's a joint 'either-to-sign' account (indistinta) or a joint 'all-to-sign' account (conjunta): it matters later.

Investments and pension accounts

Broker or bank, funds and shares, and the beneficiaries you named in each pension plan.

Insurance

Life, accident, funeral, home: insurer, policy number and beneficiaries.

Debts

Mortgage, loans, cards, guarantees you've given, and money lent or owed between individuals.

Property

Homes, cars, jewellery, and where the deeds and papers are. The safe deposit box, and where the key is.

Cryptocurrencies

Which exchange or wallet, and where the access details are kept. Never the recovery phrase itself.

Bills and digital life

Utilities and subscriptions to cancel, and what you want done with your email, your photos and your social media.

Who to call

Your notary, your gestor or accountant, your lawyer, your insurance agent, and who can help with each thing.

What not to write

Passwords, PINs, private keys and recovery phrases. The European Banking Authority insists: never share them, because whoever gets hold of them controls your assets.

They wouldn't help your family anyway: banks block cards, passwords and online banking as soon as they learn of the death, and the tax agency disables the Cl@ve and the digital certificate. What your heirs need isn't your passwords, but to know where to look.

The exception is cryptocurrency you hold yourself: without the recovery phrase it's lost for ever. Leave it in a sealed envelope in a safe deposit box or with your notary, and note in the letter where it is.

The letter accompanies your will; it doesn't replace it

The letter doesn't divide anything up; the will does. It's made before a notary, recorded in the Registro General de Actos de Última Voluntad (General Register of Last Wills), and the fee is €30.05 per testator, plus pages, copies and VAT. The Consejo General del Notariado estimates it usually costs between €38 and €50.

For your digital life, Spain's data protection law recognises the so-called digital will: you can name a person to access your online content and decide whether it's kept or deleted. The safest option is to leave those instructions in your will. In Catalonia, the register of digital wishes was struck down by the Constitutional Court in 2019.

The big platforms have their own tools: Apple's Legacy Contact and Google's Inactive Account Manager. Set them up and mention them in the letter.

How to keep it up to date

  1. Fill in the template with what you have today. You don't need exact balances: it's enough for them to know it exists.
  2. Keep a copy with your will and tell someone you trust where it is.
  3. Review it once a year, and whenever you open or close an account, change insurance or move house.

If you keep track of your net worth in Nett, Legacy does this work for you: the list of accounts is always up to date, each account carries its note and, if you stop giving signs of life, your trusted contacts receive a read-only link. Nothing travels by email.

How Legacy works

Frequently asked questions

What is a letter of instruction?

A document with no legal force that accompanies your will and explains to your family what you have, where it is and who to call. It doesn't divide up your estate: it saves them the search.

Should I leave my passwords to my family?

No. Banks block cards, passwords and online banking as soon as they learn of the death, and the tax agency disables your Cl@ve and your digital certificate. Using them to move money before the estate is divided leaves whoever does it exposed. Write down where everything is, not the passwords.

And cryptocurrency?

It's the exception that proves the rule: if nobody has the recovery phrase, it's lost for ever. Keep it in a sealed envelope in a safe deposit box or with your notary, and write in the letter where it is.

How much does it cost to make a will?

Notaries' fees are set by the State: the fee for a will is €30.05 per testator, plus pages, copies and VAT. According to the Consejo General del Notariado (General Council of Notaries), in practice it usually costs between €38 and €50.

How often should I review it?

Once a year, and whenever something important changes: a new account, a move, an insurance policy. If you keep it in Nett, the list of accounts keeps itself up to date.

Sources

This guide is for information only and is based on Spanish law in force on 6 October 2026. It isn't legal advice: for your particular situation, consult a notary or a lawyer.

Nett

A figure today. A history over time.

In Nett you keep your accounts, update balances when they're due and see how your net worth changes month by month. Whatever is traded values itself. No bank connection, and no password.

Create a free account