LIFE IS UNCERTAIN! - The OCD Of Hygiene

How do people freak out if they see even one particle of dust around them? They are very hygiene conscious. They keep washing their hands frequently, are always paranoid, and get stressed if other people don't follow basic cleanliness etiquette. The pandemic worsened this situation- where people who didn't have hygiene OCD, have also started becoming sensitive over it because life is uncertain!! 

During and after the COVID-19 pandemic, the concept of hygiene extended beyond physical cleaning to include financial and emotional hygiene. Reports indicated that the uncertainties of finances trigger a sort of anxiety, which is similar to health anxiety. This inspired the thought of “financial hygiene,” or the idea of effective management of one’s money, assets, and plans of inheritance with good financial planning.

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Most people are OCD about hygiene in general, but completely neglect Financial hygiene. People suffer from stress, anxiety and sometimes even depression with the question in their mind what will happen with their assets, and how will the family distribute those assets among themselves? Would it lead to any dispute among them?? 

Financial hygiene is more than simply saving or budgeting. It involves complete knowledge of all asset information, keeping an updated list of all nominees, and drafting of a legally valid Will. Without this, even those well off financially may face a financial disaster if the breadwinner should suddenly die. It involves knowing where documents are, awareness of financial liabilities, and prevents future conflicts.

Because this problem is not discussed much, very few people consider this as a real problem and others wait till old age and remain with this anxiety for most of their lives. Almost 97% of India’s family businesses are not formally succession-planned, and even professionals delay drafting Wills — a dangerous habit in a world where uncertainty is a way of life. Effective estate-planning prevents uncertainty from becoming legal chaos.

We should start treating financial hygiene on similar lines as health hygiene. If you don’t pay attention and act towards having your financial continuity plan in place, it will lead to ugly disputes ending in lengthy litigation among family members. Death doesn’t come with a warning, therefore the old-belief that Will drafting is for old age doesn't work in today’s uncertain and changing times.

A Will ensures your intentions are given legal validity. Under Section 63 of the Indian Succession Act, 1925, a valid Will must be in writing, signed by the testator and attested by two witnesses to be enforceable in a court of law. Ignoring the requirements will make your Will invalid – proving financial hygiene requires accuracy and compliance.

Imagine, how many people died due to COVID-19 without writing a Will and now their family members have no idea of most of their assets and even if they have, they are fighting over their part of the share. If you take a step today, you are not only relieving the stress on yourself but also on your family, in the future. This will also teach them a way to make efforts for the transfer of intergenerational wealth and make better use of it.

Following the pandemic, there has been a surge in Will consultations by people, as many Families have realized that there have been cases of relatives dying intestate — leaving frozen accounts, property disputes and heartaches. Estate planning is no longer optional, it is imperative.

Get Your Financial Hygiene in Order with Estate Planning

Like washing of hands helps to prevent diseases, drafting of a Will helps to avoid disputes. Estate planning makes the transfer of assets easy, minimizes family disputes, and guarantees the survival of wealth to the generation. It can be used to appoint guardians to minors, define nominees and beneficiaries, and set up contingency plans, such as succession in the business or a joint property ownership.

Think about the family that owns bank accounts and properties in different cities. In the absence of a Will, heirs have to endure prolonged probate procedures and emotional rifts between them. Professional platforms such as AasaanWill provide a drafted valid Will that guarantees that each asset will go to rightful owners without any contest and argument.

AasaanWill helps users list assets, name beneficiaries, appoint executors, and create legally valid Wills reviewed by experts. It employs a secure technology to simplify Will drafting and make it simple, affordable, and compliant with Indian succession laws.

The Importance of Financial Hygiene for Peace of Mind

One of the most prominent means of maintaining financial hygiene is writing a Will to obtain the peace of mind you need. Do not hesitate to take a step in this direction- better financial planning means security for your loved ones for the future.

Drafting of Wills is not only an administrative task, but a task of protecting emotionally. It protects your family from the whole gamut of stress, discord, and uncertainty. Experts say that proper Will drafting is the backbone of holistic financial health, supplementing insurance, tax planning, and wealth creation. A Will reflects responsibility and foresight- it is a form of hygiene not only in life but beyond it.

‍AasaanWill is one of the best platforms whereby you can give yourself personal financial hygiene to resolve your monetary issues once and for all. Draft your Will with us. AasaanWill Zaroori Hai! 

Start today- taking action today protects your family tomorrow! Estate planning with AasaanWill ensures that your wishes will be followed, your assets will be passed smoothly, and that your family and loved ones are protected from disputes or delays.