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Estate planning: A step-by-step guide to safeguard your legacy
Mint Chennai
|January 22, 2025
How do I plan the smooth transition and safety of the estate that I have accumulated over my lifetime?—Name withheld on request
How do I plan the smooth transition and safety of the estate that I have accumulated over my lifetime?
-Name withheld on request
The first step in estate planning is a thorough assessment of one's assets and liabilities. This involves cataloguing all properties, business interests, investments, bank accounts, and personal possessions that make up the estate. Collecting relevant documents like property deed, bank statement, and insurance policies, is essential for determining total value. Individuals must also evaluate the liabilities, including debts and mortgages. Understanding assets and liabilities provides a clear picture of net worth, which is crucial for informed decisions about distribution and management.
Dit verhaal komt uit de January 22, 2025-editie van Mint Chennai.
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