Saturday, June 20, 2020

What happens to your money & assets if you suddenly die? Have you planned for this???



Dear Friends,
Have you ever thought about what would happen if you meet with an accident and die? What if you are detected with a major disease like cancer. These thoughts itself are scary and no one wants to talk about it. I think we should seriously discuss amongst our family members. We should plan this so that our family doesn't suffer and live a disastrous life.

We all waste our time scrolling on Facebook or other social media apps. We all should give it a thought as life is uncertain and unpredictable. Today you might be fit but you cannot predict what happens tomorrow. You need to plan this before it's too late.

 There are so many people who die every year due to some or the other disease. According to a WHO report, a major cause of death occurs due to Heart disease, Cancer and road accident. There are many out of these patients who become bedridden and are completely dependant on their spouses or parents for their lifetime.


In today's fast-paced and uncertain world, the kind of life we live in is very hectic. We hardly have time to take care of ourselves. We all are busy making money so that we can retire early and retire rich. Life is unpredictable and we all should accept this fact and plan for it.

I would like to share a story of one of my friend who was successful in his life but he never planned for his death. He was married and had a kid. Once he met with an accident and died. His wife never knew what his total assets were. He never changed his nominee in his bank to his wife. His nominee was his Dad which he mentioned while opening the bank a few years back. When he died, his father received all balance amount, fixed deposit and mutual fund shares that he has bought through the bank. His Father never was shared a penny with his daughter in law (My friend's wife).



My dear friends, please do write down your assets and liabilities in a diary and inform your loved one about it. Discuss your life with your loved one so that they are aware of how you have planned your life. Please change your bank nominee to your loved one and inform them about it.

Whenever you buy an asset whether it is a land, gold or fixed deposit. Please share details with your loved one. Write it down in a diary.

We put in all the effort to make sure we earn enough so that we can fulfil all needs of our family. We at times miss out on sharing these details with our loved ones. It is important to share these details with your loved ones. Even if we miss out on updating even one asset.

Talk to your family, discuss your life with them. Nowadays, we miss on these small things which lead to bigger problems in the long run. Take your eyes off your mobile and take time out for your family.

Remember guys we work very hard all our life to earn as much money as possible. We do all these just to make our family happy. just imagine if they don't even know about the assets you have earned for them. Or if you gave changed your nominee in your bank details to your loved one's name. They should know about it. And most importantly they should also know the procedure to acquire it.

All said and done. Friends, make sure your family doesn't suffer because of your silly mistakes.


And One last important message to you all. "Please take care of yourself. You are very special for your family :-)"


Hope this article will help you plan your life in a better way. If you find this article useful, please do share it with your friend and family members.

Please also do read my article about: 

1. How to safeguard your social media and Gmail data online after you die.

2. Why should you donate blood regularly?

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