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Monday, 30 April 2012

Personal Finance

Many couples do not understand all the investments and assets their partner has. In cases where only one partner is gainfully employed, which is quite common in India, it becomes all the more important. It is best to write down all the assets (insurance, deposits, property etc) and where they are and each couple should keep a copy. In the event the spouse passes away suddenly, at least the family will not face financial hardship. It is also a good idea to specify the nominee in all financial accounts so that the transfer becomes easy. It is our duty that if something untoward happens to us, we should atleast ensure our loved ones are financially safe.

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