Hi, I’m trying to document all details - financials, assets etc. for my family in the worst case situation where something happens to me, to have funds and all data readily available for family. I’m trying to find if there is any existing template of some sort for this thing. I’m listing things myself but an existing template can speed up things and serve as a way of cross checking if I missed something.
If you know such a template, please do share!
excellent - once you do this, discuss this paper/template with your family. They should understand what you have written.
Also where you have kept the originals such as LIC policy, locker key, property title deed, ATM cards, cheque book, Will etc.
If you own property will is a must, if not property will be divided among all your immediate family i.e wife/children - it wont automatically go to wife until and unless all the children sign and agree. Hence writing a will is important.
If you have taken loans from banks, the template should stipulate the installment amount and bank details. Most imporatant, if you borrowed money from friends on an adhoc basis - this too should be mentioned.
Apologies, your question was asking for a template and I went into details.
Hi Harshil,
Glad you are thinking on these lines. What we generally not realise is if you don’t pass on the information about your asset holding (be is financial or non-financial), there is no way your family can easily place hands on the information. The result - close to 2 lakh crores of unclaimed assets.
To tackle this very problem and build awareness on the financial hygiene of will making is where we started Yellow (www.getyellow.in). You can infact document all your asset (including non financial assets) and our platform has the ability to pass on these information to your loved ones when you are not around. It covers pretty much all assets types from India context. Do check it out and I’m sure you will find it useful.
Thanks for the tips!
Apologies, your question was asking for a template and I went into details
Thats fine. I can probably share the template I come up with and folks can keep expanding it to cover more assets and scenarios.
Damn thats amazing!!! Thanks for sharing this. Its very through.
@Nikhil.Varghese I think there is a big market for startups in the domain of helping your family get all your assets hassle free. And also for educating people about what happens when we don’t document these things, don’t add nominees or don’t make a will.
Thanks for sharing!
Okay, so the Jaago Investor template is very very generic and don’t go into details of exact details needed for specific accounts. For example, it might be good idea to document BOID, dP ID, BOID etc for Zerodha account (or maybe not?). I’ll create another one that goes into exact and specific details needed for each item.
I think Zerodha client ID and the 16-digit CDSL demat id is good enough. Just enough details so that the companies can identify whose account it is.
Please create and share one, I will give my feedback. Thanks in advance.
@entice here you go, this is the template I created - Master Document Custom Template - Google Sheets
The link has permission to comment, please review and kindly add any comments you want. If we can extend this to beyond the things I know, it would be awesome and I can share it.