Publication : Business Standard, New Delhi; Date: April 18, 2010
There is no way that your assets can be misused by someone else
When Deepak Sharma, 45, passed away, his wife and two children suddenly found themselves in a severe financial crunch. While he owned three flats and a plot of land, the records were missing.
Similarly, papers of his investments in stocks, mutual funds and gold existed in the bank lockers. But the family was not aware of it. Importantly, Sharma has not created a will that would have specifically identified the heirs to his property.
All the family got to know in the initial months was that Sharma had taken bank loans to expand his business.