Estate planning is the act of preparing for the transfer of a person's wealth and assets after his or her death. Assets, life insurance, pensions, real estate, cars, personal belongings like gold and debts are all part of estate. Estate plans or Will must be written by every individual signed, and registered / notarized by the person who owns the estate.
Estate planning refers to inter-generational transfer of wealth. It would be greatly desired by every individual to leave behind his assets in the right hands. It is important to write a WILL and clearly mention the distribution of his wealth. After all you would want your loved ones to live in harmony without squabbling over the distribution of assets.
- If you have nominated someone in a financial product, then its ownership does not automatically pass to Him / Her.
- Nominee is not a legal heir.
- Since you will not be around to ensure distribution, specify executor of WILL.
- Though, legally WILL does not require to be registered/ notarised/ on stamp paper, a registered WILL eliminates chances of litigation to a very great extent.
- You can change WILL at any time.
We can assist you in drawing up of a WILL!!