Legal checklist for ageing parents

Legal checklist for ageing parents

Legal checklist for ageing parents

It is important to keep our house in order at any stage of life.. Pandemic has taught this very well. Legal documents are necessary to protect everything from finances to medical treatments. They help making important decisions once we are no more. Orderly documentation eases the trouble faced by family members and help in smooth transition of assets. Do you or your senior loved one have the proper legal documents in place? 


The legal checklist for aging parents includes:


Personal

A current, updated will, duly registered.

Insurance policies

Passport / Adhaar Card /Pan card

Birth certificates, if available


Financial

Property ownership documents

Bank account / locker information

Stocks, bonds, and brokerage information

Antiques/Jewellery /precious Gems estimates

Income Tax Return details

Pension benefits, if any

Debt documentation, including information for credit cards, loans, purchase.

Other Contracts, Rental agreements, Royalty


Other

Death certificate of spouse, if applicable

Power of Attorney for spouse / child for financial decisions.

Contact details of personal attorney, finance consultant/CA

Company details, incorporation & trade licences etc, Debt & credit details , contact details of company secretary

Vehicle details, licence, registration

End of life instructions (DNR, organ donation, funeral wishes)