ESTATE PLANNING IMPORTANT?METHODS and NOMINATION ?


ESTATE PLANNING IMPORTANT?METHODS and  NOMINATION ?
ESTATE PLANNING IMPORTANT?METHODS and  NOMINATION ?

Table of Contents

* Why is estate planning important ?
* What are the methods of estate planning ?
 
   * Will or Will
    * Trust
    * Nomination or nomination
   
     
  • Estate Planning is a preparation for the tasks that the basis of the property of a person is managed in the state of their inability or death.                                                                                                                                                                                                                                          In the planning involves the will to inherit the property and disposal of property taxes. Most property plans are established in property law with the help of experienced lawyers.                       
  • Your property is all that you have: it may include cash, clothes, jewelry, car, house, land, retirement, savings account etc.
Estate Planning India includes making a will, establishing a trust or nomination and nomination of life insurance.

In India, the estate planning service has moved to a new level, making tapes of Willis, making trust and even probate (certified in a court) is a new way.

 Online estate planning such as online will, as well as digital assets and even the nomination of email account is included in it.

WHY IS ESTATE PLANNING IMPORTANT?

  • Sharing your wealth further: You are able to pass your wealth and property to your loved ones and successors in a hassle free way. This helps to avoid family disputes and quarrels.                     
  • No court battle: You have a family settlement where property and property have been divided in a responsive way. A probate can stop those long court battles.                                                      
  • Take care of your loved ones: If you have a disabled child in your family, you can provide funds for future needs.                                                                                                                         
  •  A parent needs money, because this child has special needs, which is not enough to put the responsibility on others to full-fill it.

WHAT ARE THE METHODS OF ESTATE PLANNING?

WILL OR WILL

Can you tell you how you would like to distribute your property (land, property, gold, car) after death? Who should meet? It's basically a wish that's all about.

 You need an executor (whom you trust) to execute the will on your behalf (make sure your desire is honoured because you are not around to do the work yourself).

TRUST

A trust is used to transfer money to your heirs (children). These trusts have to be made / registered and governed under the Indian Trust Act 1882.

In a trust you can transfer your movable property like a car along with the real estate trustee (person who owns property from his beneficiary / children).

Trustee is the executor of assets (manager of assets) on behalf of your beneficiary and ensures that your money reaches the beneficiary, even if you have anything.

You can transfer trust / mutual fund, fixed deposit, car, land, apartment / house, gold, art and antique to the Trust.

NOMINATION OR NOMINATIO

If you have a fixed deposit, stock or mutual fund, you need to enrol, where you tell who gets the money in these accounts on your death. The person you appoint is the nominee. Nominee (originally you trust) transfers your investment to your successors (children).

The nominee is not always the heir to your wealth and is your protector or trustee and ensures that your beneficiaries receive the money. Nomination is mainly done for shares, mutual funds, life insurance policies or land and property.


When you die after making a will, your heirs get your property. Your nominee appointed (may be your nephew or lawyer) acts as a trustee and ensures that your money reaches your successor.

 A nominee is not permanent and you can change your nominee at any time. You can appoint your successors (children) as nominated person.

 If your child is a minor and you appoint him as a nominee, then you need to appoint a person working as a guardian (guardian).

thanks for the time , 

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