Invest In Tax Saving Mutual Funds Online
By now you must have understood the importance of nominations and writing a WILL. Nomination facilitates the comfortable receipt of funds, and WILL makes the person legal owner of those funds .The pre requisite of an Estate planning is to ensure that assets should be distributed to the right person in a comfortable manner. So to make smooth the whole process and to ensure the proper wealth distribution, your nomination should support your WILL. Just imagine how comfortable it would be for your wife, if she's a nominee in your life insurance policy and also has mention of the same in your WILL. If your WILL says that
"Financial Assets will be distributed as per the nominations mentioned in those specific investments and those nominees will own those assets"
than this leaves no scope of dispute in future. As it leads to comfortable distribution as well as to the right person intended.
Some other points to keep in mind while choosing nominees
- If you've appointed any NRI as a nominee in your investments or bank accounts, than make sure that he has all necessary documents like Pan card, address proof etc. to fulfil the KYC requirements.
- If you want to further reduce the hassles of the family members, than rather appointing nominee make them joint account holder and keep the mode of operation as "Anyone or survivor" or " Former or survivor". Don't forget to mention the same in your WILL too.
- If you want to secure the benefit of your spouse and kids in your life insurance policy then rather making them nominee, buy the policy under "Married women property's act".
- You may appoint multiple nominees, but be sure to mention the same in your WILL, and distribute assets in the same ratio as per nomination.
- If even after writing a proper WILL and appointing nominees you still have doubts on you wealth distribution after your demise than Private trust can be an effective tool for your wealth distribution goal.
Everything you do in your financial life should be directed towards a particular goal. Like wealth accumulation, wealth distribution is also an important goal. Your nominee should be appointed in such a way that it helps in easing out the process rather than complicating the achievement of goal of proper wealth distribution.
Happy Investing!!
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Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.
Invest Tax Saving Mutual Funds Online
Tax Saving Mutual Funds Online
These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)
Download Tax Saving Mutual Fund Application Forms from all AMCs
Download Tax Saving Mutual Fund Applications
These Application Forms can be used for buying regular mutual funds also
Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )
- ICICI Prudential Tax PlanInvest Online
- HDFC TaxSaverInvest Online
- DSP BlackRock Tax Saver FundInvest Online
- Reliance Tax Saver (ELSS) FundInvest Online
- Birla Sun Life Tax Relief '96 Invest Online
- IDFC Tax Advantage (ELSS) FundInvest Online
- SBI Magnum Tax Gain Scheme 1993Invest Online
- Sundaram Tax SaverInvest Online
- Edelweiss ELSS Invest Online
Best Performing Mutual Funds
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- Small and MicroCap Funds Invest Online
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- Gold Mutual Funds Invest Online
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- ICICI Prudential Regular Gold Savings Fund
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