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Estate planning · Estate Audit

Annual Estate Review: what to check every year

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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

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?

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  1. New property purchased → add to Will via Codicil
  2. Child born → update nominations, add to Will
  3. Net worth crossed ₹1Cr → consider Trust or HUF if not done
  4. Life event (divorce, death of family member) → review entire estate plan

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