Let me tell you a story….and like Valmiki assume I can go across time from 1990 to 2050. Please remember time is the 4th dimension and at some point in human civilisation we will be able to do that.
Year 1990: You have graduated / settled and just got married.
Did you think of life insurance? perhaps, some agent cahsed you and u bought a LiC Moneyback plan.
Did you write a will? Ha u got to be joking….and after all nobody chased me.
Year 1992: father of a baby boy!
1993: Very happy, hit your first Million Rupees networth.
1995: Bought your house, outright. All cash wiped out, but no borrowing, owner of a house.
Did you think of making a will? Ha..no of course not.
2000: Touched Rs. 15 crores turnover, Profit after tax: Rs. 1 crore.
Make a will? Ha ha u got to be joking.
2004: Proud father of a baby girl!! wah wah…this is what you wanted. Lucky girl, father’s networth Rs. 8 crores, including house.
Make a will? Nah, why should I? My wife and son will not fight, and anyway I am no longer in my father’s business.
2011: Life is a dream…net worth Rs. 14 crores, excluding the bungalow that you bought for Rs. 4 crores in the suburb of Mumbai.
Make a will? Subra will you stop being pessimisstic about my life? I am going to live a million years more!! and my son just loves my daughter, and I do not think my wife will marry again. There is ENOUGH money for my daughter’s education and marriage, so I am surrendering all my life insurance policies, and NOT taking a term plan of Rs. 5 crores. My daughter is safe, do not worry.
2016: Died of a heart attack. Age 51. No dependents – son earning very well and can take care of the mother (owner of the bungalow now worth Rs. 5 crores) and son will take care of 12 year old sister. Son aged 24, owner of businesses and rental properties. Daughter vulnerable.
Well er, Subra, sorry did not make a will, but I am sure my son will pay for my daughter’s education and marriage, he will, no? after all I looked after my dad in his old age, did I not?
Subra: Hey Param, sure he will…but why the doubt, your kids will not fight, right?
2018: Son gets married to an angel…she is so sweet.
2020: Param’s wife has some kind of a mental and physical problem. Daughter Padma (aged 20) unable to stay with brother is now in a hostel. Mother completely brainwashed.
Param’s voice from heaven: Subra…maybe I should have made a will. I did not EXPECT my son / daughter in law to behave like this.
Subra: Yes Param, and your brother has beautifully ruined your daughter’s life…and she is struggling to make a living.
Param: Subra can you help?
Subra: in this fictitious case yes, I can go up and change the dates. In a real life situation, NO.
So get of your goddamn a….e and make your will you JERK. Today. Now.
PS: If your financial adviser cannot tell you this, in this BLOODY language and get you to act, he is not worth the money that you are paying him.
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