Many of us worry about making the wrong decisions. We do not know what to do, how to make the right choices, we are comfortable with doing nothing is a well-documented phenomenon. Whether it’s the nomination in our demat or bank accounts, incomplete change of address or mobile numbers requests, and the will we never made.
We as investors dislike the task of doing lot of paper works or to make the right choices in our nominations. Paperwork is something which takes a lot of time, lot of detail, we need to deal with multiple agencies.
We prefer denial instead. The consequences are well known. When anyone dies without making a will many people try to take an advantage of that, even there arise a lot of family disputes for the estate and the wealth doesn’t go in the hands of its right owner.
Write a will, it is not as tough as it seems to be. You can make online will also, as they are preferred much safe. List the items of your wealth which will be distributed after you die, appoint an executor who will distribute all the wealth to its right beneficiaries (mentioned by you).
If you don’t want much paper work to do, your executor will take up all the tasks of probating your will, completing the paper work, making the list and insuring everything is settled.
Two witnesses are required to validate the will. This will ensures that after you your wealth is not left to waste and in the right hands.
Don’t be too late, write a will.
Ankita Pal – Wealth Manager Career Program.