What if ?
Something happens to you.
You are not there for your family.
Will your investments be there for them?
Life is Unpredictable
And you never know what is coming next. The only two things which are certain are death and taxes. While we wish you a very long life and a life full of joy, ease & glory, it is also crucial that you are prepared for that inevitable moment.
When we pose the following questions
- “what-if something were to happen to you, does your family know where your money is, where all you have invested?
- Can they access the details easily?
- Can your bank & demat accounts and your investments get transferred to them with minimum fuss?”,
We realise that very little thought has gone into addressing these questions. This is especially true of working professionals. Unlike business families, who might have a certain eco-system around them, the working professionals typically do not have such an eco-system. And with increasing nuclearization of family structures, the traditional support structure, joint families provided is no longer available.
What-if audit fee plan- objective
- Establish how prepared you are, &
- plug the gaps.
So that after you, your family does not need to struggle to piece things together and run from pillar to post.
It is founded around:
- 4A framework:
- Assimilation – Are all your investment records organized and in one place?
- Awareness – Are your loved ones aware of places where you have invested?
- Accessibility – Will they easily access your financial information if you’re not around?
- Availability – Will your assets be readily available for them to use?
- Creating / updating your Asset Register, to ensure
- Details of all your accounts, financial investments, non-financial investments, insurance policies are captured in one place.
- A mechanism that your family is aware and has access – levels of awareness and access will depend on you, also keeping in mind data security.
- Holding pattern is proper and in sync with your Will (if you have one)
- Adequate life & health insurance cover *
*We only recommend term plans. Additionally, as a Registered Investment Advisor, by law we do not make any commissions
