The article below talks about the why and how of leaving behind a will. RetyrSmart has just launched a free will drafting support service as part of its value-added services to members and visitors. To take advantage of this free service click on the link below
Depart peacefully. Without leaving anything unsettled. That’s estate planning
It’s important to understand that you cannot take a one size fits all approach while planning and investing for retirement. Your plan will be based on your current age, current asset base, expenses, and overall risk profile. Your investments will depend on your liquidity needs, financial goals, return requirements, time horizon, and risk appetite.
While you focus on your retirement goal, make sure to look at Will and Estate planning. If you have dependents, then you need a Will. This will not only ensure a smooth transition of funds/assets to your loved ones but will also ensure that your wealth gets distributed as per your wishes, avoiding any financial disputes. While this can certainly be a morbid thought and you might end up avoiding it, not getting the Will made might cause further disputes in the family.
You can follow a simple process to help you get started with the Will.
– List your assets and decide who gets what.
– Appoint two executors.
– Decide on the beneficiaries to whom the assets will be transferred to.
– Attest the Will by two witnesses. In your witnesses, preferably one should be your doctor.
– Register the Will
Talk to an estate planning lawyer. Creating a will can cost a few thousand rupees to much higher amounts depending on the complexity of the Will and the reputation of the lawyer.
RetyrSmart has just launched a free will drafting support service as part of its value-added service. To take advantage of this free service click on the link below