10 Smart Actions Every Indian Parent Should Take, Once Their Baby Is Born.

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10 Smart Actions Every Indian Parent Should Take, Once Their Baby Is Born.

4. Update your Nominations in various financial products
You might want to have your baby nominated in some of the financial products you own. It can be your bank accounts, fixed deposits, mutual funds or even some property. You might want to add your newborn as one of the nominee in the assets you own. Read more about nominations in this article if you do not understand what exactly nomination is.

Also, if you have written your WILL, then you might want to update it soon after the baby is born. If you miss this, and if you old WILL didn’t have the right kind of wordings, then your baby might lose his/her share in your wealth in worst case.

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