WILL is Wealth Planning and Not Death Planning

1
WILL is Wealth Planning Not Death Planning
2
What is a WILL Will Planning?

• Will Will Planning refers to a legal document
  wherein a person can set forth his wishes
  regarding distribution of his property as well as
  care of his minor children if any.

3
Why It Is Prepared?

• A person wont have any say about the
  distribution of his estate if he doesnt hold a
  valid will. In such cases his property will be
  distributed according to intestacy rules.
• In case a person holds a vast estate but does not
  have time to manage the same, he can grant an
  executor with a power of attorney.

4
Who Can Make WILL?

• Any person who is of sound mind and above 18
  years of age can make a will.
• However the Supreme Court of India in special
  cases can approve children below 18 years to make
  a will.

5
Requirements

• A WILL needs to be witnessed and signed properly.
  Also, the wordings used should be crisp and on
  point so that ones intentions are expressed
  properly.

6
Importance of WILL Planning

• Death is inevitable. But questions remain about
  the distribution of wealth once a person dies.
  After all, nobody would want their wealth to get
  into wrong hands. Herein lays the importance of
  WILL as a tool of financial management.
• Other than death due to old age, various other
  factors like natural calamity, terrorist attacks,
  accidents and viral health disorders can affect a
  persons mortality. Thus even the young guns who
  have accumulated considerable wealth are advised
  to have their own WILL.

7
WILL For Family Man or Everybody?

• WILL surely serves as a motivating factor for
  those with dependant family. However those
  without family can also use this wealth
  management tool to peacefully distribute their
  wealth amongst various charitable institutions
  and government trusts.

8
The Indian Senario

• People in India solely associate WILL with death
  and old age. In US only 40 people use WILL as a
  tool of finance planning. However India lags far
  behind in comparison to such developed nations.
• Everyone must get a WILL done in order to secure
  the future of themselves as well as their loved
  ones. People should recognize the importance of
  WILL planning as a tool of wealth creation and
  not merely as an emotional burden.

9
Follow us!