What No One Tells You About Death💔
Hey
The Air India tragedy has shaken us all. It’s the kind of news that stays with you, not just because of what happened but because it reminds us how fragile life is. I hope you’re all doing better, and I am writing this newsletter with a heavy heart solely to equip you to deal with an unfortunate situation like the death of a loved one.
Market ka haal: Sensex closed at 81,583 and Nifty at 24,853 on June 17 📉, ending the week on a slightly cautious note despite some early cheer. The RBI pulled a bold move by cutting the repo rate by 50 bps to 5.50% and switching to a neutral stance, triggering a midweek rally in banking, auto, and NBFC stocks 🏦🚗. Domestic Institutional Investors stepped in strongly, pumping in over ₹16,000 crore, while FIIs trimmed their exposure by around ₹4,500 crore, a shift that signalled confidence in domestic fundamentals 🌱📊.
All in all, the Indian markets held their ground in the face of global volatility. The RBI’s proactive policy stance and steady DII flows acted like shock absorbers, while the world outside stayed a little wobbly. Call it a masterclass in how local conviction can hold fort even when global winds get choppy 🌍🧭.
Humara Gyaan: When someone close to you dies, your world splits open, but the world outside keeps asking for documents and decisions. Through my own experiences, I want to share what I know about what must be done when a loved one passes away. But please note that these are just tactical next steps in a case where there’s no valid will in place. If there is one, then the will automatically becomes the ultimate guide for how the deceased’s assets and liabilities are passed on.
📄 1. Get the death certified and documented
If the death occurred in a hospital, ask for a medical certificate immediately. If the death was sudden or accidental, you’ll need to file an FIR and get a post-mortem done..Once the medical paperwork is complete, register the death at the local municipal office to obtain an official death certificate. The death certificate is the gateway document. You need it for everything that follows.
🏦 2. Initiate claims and notify financial institutions
File for life insurance claims and EPF/PPF withdrawals using the death certificate and KYC documents. You need to discover get any investment like stocks, bonds, mutual funds, etc, and transfer to the second holder or their nominee. If there’s a nominee, the process is simpler. Without one, legal heirship comes into play, and timelines might stretch. File claims, close cards, and update ownerships wherever required.
🔐 3. Protect and retrieve digital and physical assets
Access and secure their home, belongings, and vehicles, if any. Look for files, folders, passwords, or email logins that store their financial or personal data. Lock their home if they lived alone, and make a list of everything valuable that is physical or digital. Cancel subscriptions, phone numbers, and deactivate social media accounts when you're ready, but ensure you transfer all email, SMS, and telecommunication to a relevant email/ phone number beforehand. This could be especially harder if they handled a lot at home or with a business.
🏦 4. Notify and close bank accounts
List every financial institution they were involved with. Their bank locker needs to be transferred to a second owner/nominee to access assets, and their credit cards/loans need to be taken care of and closed. Notify their bank and freeze or close accounts as the final step. Please ensure that you do this in the very end because you will need to access their account for all of the previous steps, such as encashing investments or paying off liabilities.
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Losing someone is gut-wrenching. But grief gets heavier when paperwork, money, and confusion pile on top of it. The real financial planning isn’t in how much we leave behind, but in how easy we make it for those we love to pick up the pieces.I hope you or your loved ones never have to deal with anything like this but if and when you do, nothing is as helpful as clarity.
Niyati❤️