|
|
| Do we really need Estate Planning? |
| |
Here’s a question that many of our clients ask. “I hardly have any assets, so why should I plan my estate?”
Any individual young or old who has a chunk of assets including a house or shares/ MFs or any other investments worth over Rs.1 Cr. collectively, MUST plan his estate well.
Estate planning is needed not just to preserve our wealth after we pass away, it is quintessential even when we are alive.
It may so happen that when we are alive, we may see a situation where we are medically incapable of taking decisions either due to illness or an accident. It is for such times that we need to identify the caretaker or even give a power of attorney not just to take care of the estate but also to pay for the medical expenses.
At the time of our death, a well written will is a must if we want that our loved ones do not fight over property and other assets. Also good planning would mean that we create enough liquidity to clear off all debts and obligations. Below is a comprehensive description of the steps involved in estate planning.
|
 |
| |
|
If you have worked hard in life to build all the wealth that you have now, there exists no choice, plan your estate well !!! |
|
|
|
