I am going through an experience where one of my far relative passed away couple of months back. The spouse and daughter is totally unaware of the financial assets of this person. I got into the act of helping them gather info for the last 10 days. The turmoil and tension they went through cannot be explained. More than 6 to 7 members are helping them to get this information.
The reason for all this is that, we do not educate our family in various financial matters. Writing a will- Is such an important part of your financial life. You spend a good 75 % of your life trying to gain in asset creation and it’s appreciation.
No thoughts on what it will happen to it, while you are gone.
Please keep all financial and estate papers in one place, let your spouse know about it, keep registered emails and passwords in place, lockers keys etc….
Let’s not the courts in India decide the fate of your life’s assets.
I heard another story where an employee in software, senior position, at 40 years, passed away. His wife is going to court for settlement for the last one and a half years. Is this a punishment for the surviving spouse???
Please contact us to know more about Estate Planning…
This is a also part of Financial Planning….