Update your nominations, review credit report before the year ends

Ensure that loans are properly closed and documents submitted to the lender returned

With just a month left for the new year, it’s an opportune time to undertake a financial housekeeping exercise. Take care of a few key operational aspects of your finances, which would then set the stage for more complex activities like goal review, portfolio check, rebalancing and so on.

Update your nominations
 

Make sure that all your nominations and addresses are up-to-date. It ensures that your heirs don’t face any complications in the future. Nominations and addresses are of paramount importance in bank accounts, insurance policies, mutual funds, etc.

Says Aashwyn Singh, associate, SKV Law Offices: “They (nominations) determine who will