Estate planning · Estate Audit
Annual Estate Review: what to check every year
Updated . Every paid answer is checked by a CA. Free AI answers are labelled until a CA verifies them.
Facts
Estate planning is not a one-time event. Review every year or after any of: marriage, divorce, childbirth, death of a beneficiary or executor, major asset purchase/sale, significant change in net worth, change of residence (especially NRI return).
Provisions and law
- Best practice | No legal mandate, but financial hygiene
Analysis
Annual checklist: Will still current? Nominations all updated? HUF ITR filed? Trust compliance filed (Form 112, old Form 10B)? Any asset bought that isn't covered by Will? Life insurance cover still adequate?
Conclusion
- New property purchased → add to Will via Codicil
- Child born → update nominations, add to Will
- Net worth crossed ₹1Cr → consider Trust or HUF if not done
- Life event (divorce, death of family member) → review entire estate plan
A Savvy can do this for you
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