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Showing posts from July, 2017

Don’t let your investments die

Here is why you must let some of your nearest family member know about your investments. One of the reasons is that you’d sure like to bequeath the money to whoever you decide, just in case you are not there. The data available in public domain reveals that in India, various investments (shares, insurance, mutual funds, small savings, inoperative bank accounts, demat account) worth Rs 3 lakh crore have either been only on paper or these lie unclaimed. In most cases the deceased family was not aware of the financial investments owned by the person before his death. Something of the sort happened with Delhi-based Ganjinder Singh Parmar. He was not even out of grief after losing his father when he realized that it was almost impossible for him to inherit the properties and investment left by his father. Though his father had made a will, it took him almost a year to get probate of that will, since the properties and investment were spread across various states. Even after going through