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Succession Planning

What Your Family Should Know Before Your Death?

You should make a comprehensive list containing the details and location of all important documents and other possessions. One such elaborate list is given below:- 


1. Bank Locker Key and related information
2. Various Bank / email accounts and passwords
3. Credit and debit cards information
4. Investment details such as bank fixed deposits, bonds, mutual funds, demat account, EPF and PPF accounts related information
5. Current liabilities such as credit card bills , outstanding loan details
6. Health care benefits
7. Life insurance policy
8. Car insurance policy
9. Property and fire insurance policy
10. Will
11. Property ownership information
12. Car title
13. Home/Property deed of sale
14. Income tax returns (including any refund information)
15. Identification documents such as Birth certificate, Passport, Driving License, Marriage certificate, PAN Card
16. People to contact in case of emergency such as insurance agent, doctor, lawyer, CA and financial planner / wealth manager, property agent


You can easily make such an emergency list in MS Excel or Google spreadsheet. Don’t forget to   update the above list regularly. How frequently you should do so depends on you, but at least on an annual basis it should be done.


Also, inform and keep this list with at least one family member/ trusted CA or lawyer so that your heirs can access them easily without hassles and running around.


Make Emergency list + Organize & Update + Handing to trusted person= Easy access and peace of mind for heirs. 

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Units 24/25