after all The reason why a person earns money is to be able to financially improve their future and that of their family. Whatever money we earn, we save a portion for future needs. But that’s life, of which there is no trace left. Nobody knows what will happen tomorrow, how it will happen. But everyone knows that if you, the head of the family, are no more, then many kinds of problems can arise for your family. God forbid any family has to go through this type of situation. But at the same time it is also important that we are prepared today to face the bad situations of tomorrow.
Make the wife a candidate for all financial accounts.
If you are not there tomorrow, all the responsibility of your house will fall on your wife. But it is very important to have money to take care of household responsibilities. Without money you won’t have a job. In such a situation, it is very important to name your wife as nominee in all your savings accounts, investments, etc. So that after you, your wife gets the money deposited in her bank account, FD, EPFO, mutual fund, shares, etc. without any problem and after you, your wife can lead the family strongly.
In addition to the wife, parents can also be candidates.
Nowadays, there are many people who have not appointed anyone for their bank account, FD, EPFO account. While in such cases it is very important to present a candidate. If you wish, you can name your wife and former parents as nominees. Let us tell you that in case you do not make a nominee, your family may have to go through many complicated processes. In such a situation, your family will have to collect many types of documents. This whole process is not only complex but also quite long, which also costs a lot of money.
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