Need to Start From the Basics of Estate Planning - Power of Attorney - PowerPoint PPT Presentation

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Need to Start From the Basics of Estate Planning - Power of Attorney

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  1. Website: Call: 09599445568 Estate Planning Ever wondered what will happen to your family if anything happens to you? Ever thought about the hardships they would have to go through in such a case? Estate planning can help lower that burden. I am not saying that this certainly will happen, but being prepared is how you can protect your family. How you can do that? For that, you need to start from the basics of Estate Planning. W What hat is is Est Estate ate Pl Plan anni ning ng? ? Estate Planning is the process of designation that will have the authority over your assets and handle your responsibilities after your death or incapacitation. Estate Planning will also provide your beneficiaries to receive these things in the most cost-effective way possible. The key question to ask yourself while Estate Planning is –“How do you want to distribute your assets and among whom when you die or become incapacitated?” Estate Planning sure is very crucial for everyone, irrespective of the fact that they are rich or not. This secures your family’s future and enables them with the

  2. Website: Call: 09599445568 authority to make important decisions even when you are disabled or not around. 1 12 2 s st te eps ps t to the o the b ba as sic ics s of Es of Est ta at te e Pl Pla ann nni ing ng Make a will: Take a professional’s help and make a will. In a will you state how you want to distribute your property. Also, assign a guardian for your young children in case anything happens to you or the other parent. Consider Trust services: Trust services provide solutions to your various problems linked with wealth management or child management. Health care directives are your best friend in case of medical incapacitation. It is like a living will, you provide a power of attorney to a person who can take decisions in your place if you are medically not-in-condition to do so. As Assig sign n a f attorney, also called agent or attorney-in-fact is a person who you assign the power to handle your finances if you become disabled in such a sense in which you are no longer able to take any such decisions. a fin inanci ancial al po power wer o of f atto attor rney ney: : A financial power of Se Secu guardian to manage the money until your minor child becomes of age to inherit your property. You can choose any person you trust as a guardian. cure re yo your ur c chil hildre dren n’ ’s s prop property erty: : Assign an adult person as F Fill ill be bank accounts and retirement plans “payable on death” automatically and allow the funds to skip the probate process. bene nefici ficiar ary fo y forms: rms: Filing beneficiary forms make your

  3. Website: Call: 09599445568 L Lif ife i house or property or any other asset, having life insurance can protect your family after your death. e ins nsur ura anc nce is e is al also so co cons nside idera rable: ble: Whether you own a Gain knowledge about the Estate taxes in your country or states as it may vary according to the region. F Fu une accounts in banks and deposit funds as ‘payable-at-death’ to pay for your funeral and related expenses. neral ral ex expe pens nse e c cov ove erag rage i e is imp s impo orta rtant nt: : Make your Ma Make known to your family and relatives related to organ donation or disposition of your body. ke y your our final a final arr rran angeme gement nts: s: Make your end-of-life wishes Pr Prot the sole owner you should consider a Succession Plan. If you have other partners you must have a Buyout Agreement. otect ect y your b our bus usine iness: ss: If you own a business and you are C Ca aref will, trusts, insurance plans, etc. are sensitive documents refull ully s y sto tore re y yo our ur do docum cumen ents: ts: Documents such as your

  4. Website: Call: 09599445568 that should be protected and stored ina secure places like a vault or bank locker. Estate planning as discussed above through these 12 points sure is very important for all. If you want to protect your family even after your death or incapacitation you must consider Estate Planning. There are a lot of good Estate Planning companies like the Nexgen Estate Planning Solutions Pvt. Ltd. Nexgen provides a verity of top-notch

  5. Website: Call: 09599445568 Estate Planning services and is one of the leading companies in India and a subsidiary of the global education board, AAFM. For more information visit us & call 09 095994 45 5994 45568 568. Website: Thank You