"We always believe that we will live forever. Bad things always happen to others. But when the same tragedy falls on us, then we understand how uncertain life is," writes a woman as she pens a letter after her husband's death, sharing what she learnt after his passing. Life is uncertain; it all happens in the blink of an eye when you feel everything is right. When we are busy making plans, life has its way. In an emotional yet impactful message of love, loss, and meaning, the woman shares how learning to do some small things in the beginning can save you from a lot of trouble in the future. Sparing a few minutes to get this fixed can ensure the safety of your loved ones.
An IT professional and a Chartered Accountant - one happy couple, 'living' a normal life. The husband was all sorts of 'technical' as his profession, with his whole life in his laptop, from everyday to-do lists to e-bills to bank statements with Login IDs and passwords stacked inside a folder. All protected with alphanumeric passwords that are pretty much impossible to crack. The CA wife would ask for the passwords every time, yet never bothered to remember them. As organized and disciplined as she was with her office work, she would usually postpone household matters. And one day, while returning from work, the husband dies in a road accident. He was just 33 years old, and their nine-year marriage ended in a tragic accident.
The laptop and mobile were completely shattered, and all information was erased. The wife knew nothing of the passwords, no nomination on his bank accounts, nor about which bills were deducted. She didn't even know when he last claimed his mobile allowance. The EMI of the house was now the sole responsibility of the wife after her deceased husband. There was so much: a death certificate, a postmortem report, an FIR, and lots of forms, an indemnity bond, a notary, witnesses, and consent letters.
This is how it all turned into a struggle for the woman when she had to complete legal formalities for every transfer, name change, and even getting a succession certificate. That's when it hit her, "If I, being a CA, am so troubled, what would happen to a normal housewife?" That's how she shares what one should do before dying, so that it is easy for those weeping behind. As the basic mantra of the scout is, "Always be prepared.":
Check on the nominations of the following; it is important to keep these updated:
Bank accounts
Fixed deposits
Lockers
Demat account
Life/Vehicle/Property insurance, if any
Investments
Provident fund (PF) and pension forms
We often tend to forget to change old nominations, wherein the parents' names are still filled in the nomination, even after their death.
With digital advancement, everything is safer with encryption. Be it your mobile, email, bank account, laptop, or any other device apps that you use. But, what if you alone have access to your system? Keep your passwords noted in a secure folder, so that they can be accessed later on.
Everyone makes investments for tax savings these days. It is necessary to list them out. And make sure to note this information also, safe and secure in a file that can be referred to later on.
One must have a prepared 'will'. Back then, our ancestors used to do it, but with time, it has become very important for everyone at a young age to have a prepared will. Even a simple and rough will is capable of reducing your family's troubles to a great extent, such as freedom from an indemnity bond, notary, NOC, witness, etc.
When it comes to loans and liabilities, the woman insists on thinking about it. Before you take a car or home loan, think about what will happen when you are not there. Will it be possible for them to repay it or deal with monthly EMIs? If not, then do take a loan insurance.
She emphasizes that it is very important for women to be financially literate. Basic financial education is a necessity these days. She states, "Running a household is not just cooking, cleaning, or taking care of children, but understanding financial information and decisions is equally important."
This letter is just a reminder for us to be a little prepared before an untimely, tragic accident happens. Learn that a car, land, and a house are all different assets. If there is no will, then any relative or family member can claim everything that you are the rightful bearer of. Yes, this is all that life's uncertainty taught one woman, and you should learn today. Because you may not be able to even mourn your beloved when caught in a web of documentation and life's problems. Therefore, start focusing on these little things in life that ensure the safety and security of your family.
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