Saturday, April 14, 2018

Inheriting Wealth or Mess

Investoshashtra !!!📜📜📜
ईन्वेस्टोशाष्त्र !!!📜📜📜

When we born we were like tender flower.But in zest of living life unknowingly we accumulate so much of trash (for others) which becomes difficult to manage for next generation.

Recently, I come across couple of cases where children's have settled down abroad and parents are no more. 

Parents had bank account with multiple banks, investments in all possible instruments like LIC, Bank FD, Postal Schemes,MF,Shares, SCSS etc etc.. and cherry on the top had several real estate.

Misery is now kids themselves doesn't know about what they have inherited whether it is a wealth or mess.

More than grief of losing parents they are worried about sorting out this mess in little time they have.

In Gujarat this is the story of most of the  families and will grow bigger as migration of next generation is increasing more and more.

So if you are one of such parents try consolidating holdings and limit it to financial assets as you grow older, which will ease transmission. 

Most important - Create will. If you fail to do so you become a reason for dispute amongst your own children's who had harmonious relationship when you were alive.

Try and *inherit memories, values together with wealth, but not the mess.*

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