Estate planning in India and how to ensure a smooth transition
2 months, 1 week ago

Estate planning in India and how to ensure a smooth transition

Live Mint  

How do I plan the smooth transition and safety of the estate that I have accumulated over my lifetime? -Name withheld on request The initial step in estate planning involves a thorough assessment of one’s assets and liabilities. Choosing appropriate estate planning tools Based on the evaluation of assets, liabilities, beneficiaries, and personal goals, individuals can select the most appropriate estate planning tools to achieve their objectives. Engaging with an estate planning professional can assist individuals in comprehending the various options available and in making informed decisions about the tools that best align with their needs. Drafting and executing legal documents After identifying the appropriate estate planning tools, the subsequent step is to draft and execute the necessary legal documents.

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How estate planning can help you protect your legacy
10 months, 1 week ago

How estate planning can help you protect your legacy

Live Mint  

Most people fear the idea of estate planning or laugh it off thinking they are immortal. Estate planning is about ensuring your loved ones or a third party get access to your assets in a manner that you would want them to. Importance of estate planning Startling statistics reveal that unclaimed assets worth ₹1.5 trillion are lying scattered across the …

Why is estate planning important? Here are 5 key reasons
2 years, 1 month ago

Why is estate planning important? Here are 5 key reasons

Live Mint  

Estate planning is one of the important activities of financial planning. The goal of estate planning is to ensure that a person's assets are distributed according to their wishes, while minimising taxes and other expenses. Estate planning can include creating a will or trust, designating beneficiaries for financial accounts and insurance policies, and creating powers of attorney to allow someone …

Remember these nine steps for putting in place an effective estate plan
4 years, 5 months ago

Remember these nine steps for putting in place an effective estate plan

Live Mint  

As we celebrate the Navratri festival, we should remember that one of the things it teaches is conquering fear. Make a list of your assets: These include physical assets such as real estate and land, bullion gold, jewellery, precious artefacts and financial assets such as shares, bonds and mutual funds. A well-drafted will or a private family trust as a …

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