Big Decisions: Are You Too Young To Make A Will?

It's not that we believe that we are invulnerable, that we will live forever. Instead, it is the human mind's struggle to comprehend a world that we are not part of. And so, like with all other uncomfortable, troublesome tasks, we procrastinate when it comes to planning how to distribute the wealth we have accumulated.

In doing so, we do our dependents a disservice, according to Deepali Sen, founder and chief executive officer at Srujan Financial Services LLP. Most financial investments today require the investor to name a nominee at the very least. And that's where most people leave things, she said.

This is woefully inadequate. Inheritance of wealth distribution planning is the third most important task an individual must take up, when they set out to put their financial lives in order, Sen said.

On this episode of Big Decisions, she spells out the best way to plan for the well-being of your loved ones when you're no longer around.