World over, preservation of wealth during inter-generational shifts is a challenge. Despite careful planning, the outcomes of wealth transfer programs are not always satisfactory. The pluralistic nature of India’s society compounds this challenge. For instance, despite the existence of the Indian Succession Act, 1925, estate planning and heirship can be impacted by personal laws based on religion or place of residence (e.g. Goa).

Not surprisingly, more and more High Net Worth Individuals (HNIs or HNWIs) and owners of Family-run Businesses use estate planning tools such as Trusts to achieve their objectives around minimizing incidence of tax, putting in place an interim succession plan using professional managers without the family losing control of the business, carving out separate businesses for different heirs, creating structures for philanthropy and of course, minimizing risk of litigation and consequent damage to the fabric of the family. This is the core of our Family Business work. We also work with members to help resolve disputes that may arise (e.g. on issues of business strategy or succession planning).