Adopting healthy money practices in the new financial year to make your economic management more efficient, conserve generational wealth, and prevent it from eroding. Shraddha Nileshwar, Head - Will & Estate Planning at 1 Finance, says: “In estate planning, we don't just witness wealth transfer but also wealth destruction. Skipping basic health and life insurance coverageWithout adequate health insurance coverage and life insurance coverage, it will be challenging for you to cope with unforeseen medical and health-related emergencies. V. Neglecting diversification of your investmentsFailing to diversify or review portfolios risks stagnation, psychological stress and long-term financial loss. Hiding debt and pending obligations from heirsIn life and wealth planning, transparency, honesty and clarity are key fundamentals.

Source: Mint April 09, 2026 15:44 UTC