2. List of Properties

Click here to read in Marathi.

It is a good idea to make a list of all my properties. If I have a list, I will be able to manage my properties better during my lifetime. It will take at least 15 days to make this list with all details. I must be patient. This list is necessary, whether I make the will or not.

In this list, I will include all movable and immovable properties, investments, vehicles, insurance policies, credit cards, and those things like electronic equipment, jewellery, antique pieces, and the like, that I consider valuable or important enough to mention in the list. From this list I should also be able to locate later whether the document or record about each item is complete and uptodate.

I will need a notebook, or a file with many pages.   Physical notebook or pages, not the ‘e’-one. But I can do some cheating. I will make the list in MSWord or MSExcel, print it, and paste it in the notebook or page, and then make additions in hand. That will be faster. If I have a physical document, I will feel secure. After me, all details will be available at one place.

There will be separate lists for different properties. Each list will have:

  1. The property details
  2. Who owns it? Me alone, or jointly with others. I will write all names as they appear on the record or document of that property.
  3. With whom is it kept? Eg, names of banks, mutual funds, companies etc.
  4. Identification of property. Eg. Account or folio number, distinctive numbers, insurance policy number.
  5. Amount (eg. of deposit), or Units (if shares or mutual funds)Maturity date, date of redemption (if lock-in asset like tax saver investment)
  6. Name of nominee recorded
  7. Any other information. Like email addresses and contact numbers of banks or fund managers for emergency contact

In the list of goods, like SmartTV or Vehicle, I will also write the name of the manufacturer, the seller, date of purchase, and warranty period. For jewellery or silverware, I will list the traditional name, description, weight, and how I obtained it : whether inherited, gifted or purchased.

I will also make a list of debit, credit and other cards, and also my e-wallets and online payment accounts like Paypal.

If I am a writer or artist, I will have copyright in my works. If I am an inventor, I will have patent rights. If I have a business, I will have assets of the business and goodwill. All these will go into lists.

I will realise that I am richer than what I thought!

Nilima Bhadbhade, PhD (Law)

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