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Decoding the Common Myths of Estate Planning

Published Jan 28, 2021

At Sanctum, we are your knowledge partners that help you navigate the world of estate planning to guide you towards your goals.

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MYTH: Estate Planning is only for people of a certain age.

TRUTH: Individuals in their 20s and 30s also may find estate planning useful. Unfortunately, we cannot predict our last day, hence it is better to plan today.

MYTH: Estate Planning is only meant for people with complex assets and families.

TRUTH: Every asset matters! Even if you feel your assets are not worth a lot or are fairly simple, having an estate plan can help determine who in your family gets what and more so as per your wishes.

MYTH: My family members have very good relations, we do not need a formal plan.

TRUTH: When relations are good, it provides the best opportunity to plan. Without a plan, intestate succession laws will prevail whereby assets will be distributed as per law in a predefined manner to your family, that may lead to complicated ownership of assets & possibility of family friction.

MYTH: As my objectives are simple, a do-it-yourself will online will suffice for me.

TRUTH: Firstly, mere will drafting doesn’t suffice. The quality and benefit of consulting a specialist and having a bespoke will is incomparable to a template online that may not take into account your unique circumstances and address your queries. You simply may not want your years of hard earned wealth put to chance.

To create a well-informed estate plan to secure the future of your loved ones, reach out to us at
+91 9821925479 sneha.makhija@sanctumwealth.com
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