Across India, a silent financial crisis is unfolding — not from debt or bad investments, but from forgotten wealth. More than ₹80,000 crore lies unclaimed in banks, mutual funds, insurance companies, and small savings schemes because families are unaware of what exists in their own name. Financial experts say the real problem isn’t wealth creation, but poor record-keeping, missing nominations, and a reluctance to discuss money matters at home.
Sebi-registered investment adviser Abhishek Kumar, founder of Sahaj Money, highlighted the issue on LinkedIn, writing, “₹80,000 crore sitting as unclaimed funds because people won’t talk about the one conversation that matters most.” He said that countless families lose access to their inheritance simply because of missing documentation and communication gaps. “Does your family know what you own? Your money could be sitting in accounts no one can access. This isn’t fiction. It happens every single day in India,” he warned.
Kumar shared several real-life examples to show how often people lose track of wealth. In one case, a client’s wife discovered ₹15 lakh in mutual funds only after her husband’s passing. In another case, a family spent two years trying to unlock a bank account because no nominee had been registered. These stories, he said, underline the importance of proactive documentation and open family conversations.
He also cautioned against assuming that simply having a will is enough. “A will without proper documentation is like a house without a foundation,” Kumar explained. He recommends obtaining a medical certificate, recording the signing on video, and registering the will to ensure it is legally valid. Even then, families must know where the will is stored and how to act upon it.
Kumar said many heirs struggle not because assets are missing, but because they don’t know they exist. “Each financial instrument — a bank account, demat account, mutual fund, fixed deposit, or digital locker — has a different process for access. If your family doesn’t know where to start, your savings are as good as lost,” he noted. His advice: maintain a single, up-to-date master document listing all accounts, policies, investments, and key contacts.
One of the most effective yet neglected tools, he added, is nomination. Contrary to popular belief, nominations don’t conflict with wills; instead, they ensure smooth, immediate access. “With a nomination, your money goes directly — no courts, no waiting, no lawyers,” he said, recalling instances where families received funds within weeks simply because a nomination was in place.
Yet, many Indians still avoid money conversations altogether. “Most people don’t talk to their families about finances. They find it uncomfortable,” Kumar said. “But what’s more uncomfortable is your children trying to piece together your financial life after you’re gone.” He urged people to hold open discussions, share account details, and explain investment decisions to their families at least once a year.
Even a perfect will can fail without the right executor, Kumar pointed out. “A will without an executor is like a car without a driver. Choose someone younger, trustworthy, and nearby — someone willing to take on that responsibility,” he advised.
Ultimately, Kumar’s message is simple: India doesn’t suffer from a wealth gap as much as it suffers from a communication gap. Families spend decades earning and saving, but without planning for inheritance, they leave behind confusion, paperwork, and emotional turmoil. The true cost of neglecting financial succession, he said, is not just lost money — it’s lost peace, delayed legacies, and family disputes that never needed to happen.
