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Will is an important document – ideally consult a proper legal or investment adviser before preparing it.
Some of the points which should be kept in mind are as follows :
- Nominee holds the assets in trust for the true legal heirs.
- Nomination only eases the process of transfer of assets after death. It does not confer title on the nominee.
- Only exception is the nominee of a life insurance policy who is the parent, spouse, or child of the policy holder
- Every Individual should make a will specifying the beneficiaries for all their assets.
- Nominations should match the beneficiaries under the will to avoid confusion.
- Several online services are also available to generate a will.
- Simple drafts are also available on the Internet.
For more details on advance preparation for death or disability for the main decision maker in a family, visit