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Estate Planning

ESTATE PLANNING is a process that involves planning for the transfer of an individual’s estate, during and after his lifetime. ESTATE is all the property that one owns. It includes cash, clothes, jewellery, cars, houses, land, investments and saving accounts, etc. Estate planning can have several objectives based on an individual’s requirements & circumstances. The concerns can be Family or Business related or both.

Family related concerns

  • What happens after me
  • How do I ensure financial needs of my family?
  • How do I transmit wealth in a smooth manner?
  • How do I mitigate the risk of future litigation?
  • How do I provide for special requirements of certain family members?
  • How do I protect my family members from prospective family separation?
  • How do I ring fence my family from unforeseen business risks?
  • How do I plan for business succession?
  • How do I mitigate the business risks?
  • How do I consolidate my business assets?

A Will or a Testament means a document made by person whereby he disposes of his property, but such disposal comes into effect only after the demise of the testator. Testator is a person making a Will and executing it

As per Indian Trust Act, 1882, a trust is an obligation annexed to the ownership of property, and arising out of a confidence reposed in and accepted by the owner, or declared and accepted by him, for the benefit of another, or of another and the owner  It is an umbrella, which protects and preserves under its roof all assets that form part of its corpus. The Trustee is the legal owner of the assets of the Trust with the beneficiaries being the beneficial owners. The Trustee holds the assets for and on behalf of the beneficiaries. The assets and the income generated from the assets are used in the manner provided in the Trust Deed

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