Please Document It & Share with Your Family

We all are saving & investing part of our monthly earnings to secure our future but we forget to keep in mind a few things.

Before moving ahead let me share you a real-life story of Smridhi

Smridhi & Sameer a young couple having a 2 years son. Both were working very hard and earning well to run their life and are on track to manage and achieve all their financial goals on time.

Sameer used to invest 50% of his salary every month in fixed deposits and he also used Smridhi’s monthly income to invest in his own name.

One day Sameer was coming back from his office, a car hit him on road and he was severely injured which resulted in his sudden death.

Everything was going very well but this sudden demise of Sameer turned Smridhi’s life ugly.

Smridhi faced many issues in her life, of which two major issues were:

1. Sameer never discussed and documented any of his investments that were done in his name, with Smridhi – this left Smridhi completely unaware and in a hustle to search where every investment has been done.
2. Secondly, Sameer never wrote a will nor had he taken care to make sure the nominations are filled in every investment he made.

This led to the worst experiences for Smridhi. She had to get dependent on her own income as she didn’t have records of any savings or investments of her husband.

Then, she had to fight for investments done in Sameer’s name as Sameer didn’t mention the nominee so his family claimed the share in his investments through a court case, which they won and got a 50% share in Sameer’s investments this also led to the ruining of relations between the Sameer’s family & Smridhi.

After that Smridhi had to go to every Bank, Post Office, Mutual Funds, Insurance Company with the legal heir certificate to claim the investments done in Sameer’s name this led to a lot of her time which impacted her job too.

So, this is what Smridhi had to face along with their 2 years old son, after Sameer’s death.

What was Smridhi’s fault?

Why she lost 50% share to Sameer’s family of Sameer’s Investments which was done by Sameer & Smridhi from their own earnings? Why Smridhi had to prove herself Sameer’s legal heir everywhere? Why Smridhi had to find every investment? Why earlier Smridhi had no clue about any investments that Sameer made?

All these issues that Smridhi faced in her life were because Sameer didn’t bother to document every saving & investments and share it with his wife Smridhi.

Also, Sameer did the major mistake of not mentioning the nominations in every investment – this led to the worst experiences in life for his wife.

So, make sure we always document all our savings and investments, put up all nominations properly (double-check everywhere) and share everything with our family for whom our investments belong after us.

This makes everything easy for them when they are going through the worst face of losing their loved ones.

So Please document It & Share with Your Family!

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