Estate Planning

Starting at ₹14999

  • Family Office Setup
  • Family Trust Setup
  • Global Trust Setup for International Assets

 Estate Planning

Estate Planning involves pan for organisation and management of assets to ensure that your legacy survives you and your loved one inherit assets without any complications. 1. Definition and Purpose:
  • Planned approach to ensure smooth transition of property/assets;
  • It covers all assets immovable as well as movable and provides for smooth transition of ownership;
  • The Primary goal is to provide for your loved ones and ensure your wishes are honoured;
  • It is essential where transition involves control over businesses as business ownership is very tricky process;
  • Tax Planning also forms an integral part of Estate Planning.
2. Key Elements of Estate Planning:
    • Will: Drafting a Will is one of the easiest and most common way of Estate Planning;
    • Trust: It is suggested to opt for setting up a family Trust for Estate Planning where business control is involved. It is common practice among business owners to put the shares of businesses they own in a family trust for ease of administration and also ensuring unity of control. This is also preferred because transfer of capital assets to a irrevocable family trust is not subject to capital gains tax as per Section 47 (iii) of Income Tax Act, 1961 subject to conditions laid down in section 47.
    • Asset Distribution: It involves distribution of Assets among legal heirs as gift. It involves risks of losing control over assets during your life time.
    • Power of Attorney: It involves empowering a trusted person to perform all or some specified duties on your behalf.
    • Old Age Planning: It involves providing for ways to pay for and administering medical treatment and end of life care in a retirement community or other agencies.
3. Professional Advise: We recommend taking professional advice for Estate Planning.
    • Professionals take pains to understand your wishes and plan your estate accordingly to ensure your wishes are carried out as you desire;
    • Professional have understanding of local laws and advise about best possible ways to achieve desired results with pros and cons;
    • They understand the complexities involved and recommend right type of instrument and mechanism for your needs.
4. Not Just for the Wealthy: Estate Planning is for person who have bank accounts or hold-assets like shares, vehicles or immovable property;
    • If you own Car, transition of ownership requires a will or succession certificate;
    • Same goes for shares, bank accounts unless you have opted for nomination;
    • Estate Planning is essential for all irrespective of size of assets.
    • It makes the life of your loved one easy as they don’t have to spend months/years in getting ownership of assets left by you.

14,999Add to cart