With love, from grandma and grandpa7 min read 16 May 2016, 07:34 PM IST
Apart from a Will or a Trust, grandparents can also use financial products to bequeath to grandchildren
Most people wish to leave a legacy behind after they are gone. It could be for children, or even grandchildren. Many buy assets or make investments while mentally allotting these to a grandchild. But this may not be enough. A proper succession plan is needed if you want your assets to go to specific people, which includes grandchildren. This is because without clear instructions mentioned, say, in a Will, succession laws will apply, which may or may not be in accordance with your wishes. Therefore, if you want to bequeath something to your grandchild, a proper succession plan is needed.