Adulting is scary
So, my friend's parent passed away due to cardiac arrest. He is clueless about his dad's policies, savings, stocks. Not that they're strapped for cash, but he'll be spending months sorting through this mess.
My father caught wind of this and sat me down. Turns out, he's already got an excel sheet with bank acc ids, nominee names, mother's financials, shared on the google drive. That's when it hit me - that my father has accepted that he's old, anything can happen at any moment.
Couldn't focus on the convo after that. My mind kept playing out weird scenarios, and damn they're all scary.
I guess that's life? We'll all go through losing someone close eventually.
I’ve created an excel having details of investments, insurance policies, back accounts, FDs, CCs and loans. I have shared it with my wife, cousin and a friend. It’s not about accepting that we are getting old, it’s about accepting that life is fragile, anything can happen with anyone.
I lost my father when I was young, he had files of some MFs, bonds, policies etc but scattered, it’s been years and I am still not sure if I have been able to recover all the investments he made from his hard earned money.
LooseGoose
Stealth
11 days ago
I almost lost my dad last year, have been trying to organize investments and assets since he recovered. It was a scary experience, shit got too real too fast. wasn't prepared at all for anything. Now he's also making his will, didn't have one before.
These are wake up calls no one expects, sadly. that's life indeed.
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DefiantStack
Stealth
10 days ago
Dude.. What the f....
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My dad passed away almost 6 years back and a little over a month before he passed, my brother & I had to sit down with him when his recovery from heart surgery wasn't going well. It took us over a week to convince him that we needed to know. And with all the information he told us, we were able to make a will in his name. He passed away a few days after the registration.
I'll tell you this, a will (especially a registered one) is incredibly useful. It made the work after his passing, much more easier to manage, even though it was still tedious, bureaucracy be damned!
Even if the will isn't there it will get passed to the son/daughter. Only death certificate is required.
Not really. In the event of a death without will, it gets split between the Deceased's spouse, mother and Kids in equal proportion. This is where a lot of internal strife happens between families. A registered will ensures that it's ironclad. But more than that, as far as transferring properties and bank accounts goes, it becomes much easier to go about the whole process than without it. I speak from experience here.
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Dcube
Stealth
9 days ago
You are asking the right question
UnripeJourney
Student
8 days ago
For Apple , using passwords and share with family inside it
Was using excel , notion early and now moved to Apple passwords
Everyone should do this once they start earning and build assets. It’s must and the next if kin should know how to access.
Also a will is necessary - typically from the time you are 25 yo.
I was in college.. My father passed away one sudden night when he went to sleep. He didn't wake up the next morning. No policies, no stocks, no savings , no FDs. My mother was jobless for 2 years that time. Next day there were bunch of people at door asking to return their debts. I asked them to give me little time. Took a job, first three months salary went in clearing debts.. so I started from negative..
Good to know ur parents are well planned..
If it is okay, can you share the template
I want to have one for my family as well 🌻
Try EZIT Guardian, this exactly solves the inheritance and wealth retrieval problems. www.ezit.club ; www.ezit.club/help
I guess when you become an adult people start expecting from you alot, which gives you sense of fear to not let those expectations fall short and eventually we forgot to live for ourself and become an NPC
Daviduueu
Stealth
10 days ago
What's your age?
I am already maintaining a diary with all records like bank details, investment details with user ids and passwords, email ids passwords since the age of may be 25.
Take this post really seriously. Recently I lost my 25 year old brother in law due to brain attack.
Life is really really unpredictable. Create that excel sheet/diary with all relevant details for your nominee.
PutridFallacy
Student
10 days ago
This hit me hard. I'm the youngest in my friends circle and my parents are the oldest comparatively. This is so scary.
Life's truths are tough to confront. Knowing this and still standing tall is the only way to navigate this inevitability.
What if I don't have any of this?. I have a family but we live the life rather than fear of death.
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