Caring for your family after you are no more4 min read . Updated: 19 Jan 2019, 09:15 PM IST
- Regardless of who earns, the family needs to be in the loop
- All nominations should be in place
It’s not easy to move on after losing a dear one, but it can be more traumatic for a household that’s lost the breadwinner and doesn’t know where the money is. “Sudden death gives you no time to prepare and, therefore, leaving money conversations to the last minute is a very bad mistake," said Kalpesh Ashar, founder, Full Circle Financial Planners and Advisors. Ashar narrates an incident about her client who lost her husband in an accident and had a harrowing time because she was not in the loop. “It has taken her nearly three years to consolidate all the investments and accounts of her husband. In fact, she would come to know of investments when she received account statements. She didn’t even know the husband had 4-5 bank accounts," he said.
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