Monday, August 6, 2012

Ten things to do before sunset

Though we are constantly aware of Death, a visit from HIM is always a surprise. The loss of a loved one is unbearable and the turmoil in the thoughts of close family and friends can only be endured not explained.
But, life must go on. And an important part of life are the assets of the loved one who has moved on.
It is a huge blessing when the finances are in order and the assets easily managed.

I have seen a lot of wonderful families fall apart in pathetic disharmony just because death came before the person was ready for it.
Sometimes the families are in complete harmony but the legalities take a heavy toll of time and effort.

imagine this
sons in their 50s struggle with legalities as there is no will
wife cannot access the laptop as she does not know the password
husband has no clue there is a bank locker with gold jewellery in it
children do not know the account number of their single parent's bank accounts
dad's closest friend is not informed as no one knows his name

So here are ten things you need to do before sunset
  1. If you have immovable property, make a will. Register it with a tax consultant or a legal representative. If advisable, discuss it with your children. Preferably leave property to your spouse. Tell the family you have written a will and who it is with.  Redo the will every time you buy or sell immovable property.
  2. Ensure that bank accounts and fixed deposits are in the joint name with your spouse.
  3. If bank accounts or term deposits are in a single name, ensure that you have assigned a nominee for every single bank account and term deposit separately. Keep a hard copy of every term deposit you have made.
  4. If you have mutual funds/investments ensure that you name a nominee for every bond.
  5. If you have a bank locker, fill in the nominee form for the same. You can have multiple nominees for the locker. Inform your spouse or child about the locker.  Keep the key in a place that your spouse knows about.
  6. If you have a loan, insure your life to the amount so that the spouse and family are protected in case of need. Assign the premium payments to ECS facility at your bank so that the account is healthy and valid. Be sure to spell the nominee name as it is in their bank accounts.
  7. If you believe in eye donation etc, keep posters or badges at home that say so.
  8. If you have medical insurance keep it paid up and updated. Keep the card at a place that is easily accessible in time of need.
  9. Mail the following to yourself and your spouse (or any other reliable friend or relative)
    • scans of passport, pan card, driver's license,  IDs
    • important phone numbers and email IDs
    • contact details of most trusted friends
  10. Make a bucket list. Give ten minutes of exclusive attention to your loved ones. Laugh.
Take care of your loved ones, so they remain loved long after you. 


  1. Very apt
    Very practical
    and absolute essential
    We often fail to keep up to this, as if we are immortals..
    Well thought out athige.....



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