Where a spreadsheet works
It is flexible, familiar and good for custom formulas, particularly when one person manages a small number of records. You control the layout and can inspect every calculation. It may be the right long-term choice if the task stays simple.
Where a connected wealth tracker helps
Financial Portfolio gives assets, liabilities, people, entities, policies and documents distinct records that can be linked. Its dashboard calculates summaries from the values you enter; viewers can be given read-only access to selected sections, with explicit document sharing. That structure can reduce the explanation needed when family or a professional helps. It also means learning a new workflow and maintaining values manually. Automatic transaction feeds are not currently available.
A fair decision test
Can your current system answer “What do we own?”, “What do we owe?”, “Who owns it?”, “Where is the current policy?” and “Who may see it?” without the original author present? If yes, you may not need another tool. If no, use the records guide to identify the gaps, then examine the documented features.