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Just nomination is not enough

A nominee is not the owner of the asset, unless a will says so

Most of us are busy slogging for better pay. We spend a lot of time planning our finances, pondering over that expensive house we plan to buy and creating wealth through stocks and gold. For many, the sole motive of such measures is leaving a legacy for their children. Therefore, it's important that the wealth falls into the right hands. Why is nomination important? It plays a crucial role while investing in financial products. It is vital to have a nominee, as well as a will in place, as there should be someone to take charge of your money in case you die. The nominee has to ...