2024-02-12 14:20:00
It is very important for couples in India to have essential financial documents to protect their interests and ensure financial stability.
These documents include joint bank account agreements, life insurance plans and more.
1) Joint Bank Account
Opening a joint bank account can bring strong romance between couples. This account allows for seamless management of household expenses and financial goals.
Therefore, couples should have a joint bank account agreement that outlines the terms and conditions, including the rights and responsibilities of each person.
2) Will
This legal document specifies how your assets, including property and finances, will be distributed in the event that someone is at risk.
This way, both partners can ensure that their wishes are respected and that their loved ones are taken care of.
3) Marriage certificate
Marriage certificate is an important document for couples. This legally confirms your marriage.
It is necessary for various financial transactions including taking joint loans, applying for insurance plans, opening joint accounts.
4) Launch of insurance schemes
In today’s uncertain world, life insurance is an important aspect of financial planning for couples. Having individual or joint life insurance policies can help when risks arise.
5) Property documents
It is important to keep all the documents related to the property in order. These include purchase agreements, title deeds, loan documents and registration certificates.
6) Income tax proofs
These documents help in accurate filing of income tax returns and ensure compliance with tax laws.
Also, provide clarity on financial health. It is useful in financial planning and securing loans.
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