No. We’ve investigated account aggregation software to auto populate financial data and have discovered that, at this point in time, it’s expensive and does not provide the asset and debt coverage that organizers and executors need.
Because this is a common question, we’ll elaborate. Account aggregation software covers a small number of assets and debts at financial institutions compared to the 42 different types of assets and debts covered by QE. It links to some financial accounts, but not all, it does not provide values on real estate, benefit plans, or personal use assets, such as collectibles and vehicles, and it does not pull asset cost bases, all of which are required by your executor.
The values of your assets and debts only have to be updated every 2 – 3 years; not every day or every month.
For probate and tax purposes, the executor will need to confirm exact market values for all of your assets and debts, on your exact date of death. Account aggregation software cannot go back in time to generate values on a specific set of assets and debts on a specific date.