Estate-Planning

KIN~UNKNOWN

Unclaimed shares—often forgotten investments or inherited assets—can easily slip through the cracks if estate planning isn’t done properly. Here’s how to ensure your heirs receive what’s rightfully theirs:

🛡️ Why Unclaimed Shares Become a Problem

• Lack of Documentation: Many investors don’t maintain updated records of their holdings.

• No Nomination: Without a nominee, shares may remain frozen after death.

• Unregistered Will or Trust: Legal delays can prevent timely transfer of assets.

• Ignorance of Holdings: Heirs may not even know certain shares exist.

🧠 Smart Estate Planning Strategies

1. Create a Will or Trust

• Clearly outline how shares and other assets should be distributed.

• Appoint an executor or trustee to manage the process.

2. Nominate Beneficiaries

• Add nominees to all financial instruments—especially demat accounts, mutual funds, and insurance policies.

• Keep nominations updated as family dynamics change.

3. Maintain a Digital Asset Inventory

• List all investments, account numbers, and login credentials.

• Store securely and share access with a trusted person or executor.

4. Use the Married Women’s Property Act (MWP)

• For life insurance policies, this ensures payouts go directly to wife/children, bypassing creditors.

5. Joint Ownership

• Holding shares jointly with a spouse or child can simplify transfer upon death.

6. Power of Attorney

• Assign someone to manage your assets if you become incapacitated.

Posted On: 2025-07-03