Such situations create insecurity and uncertainty amongst people
Rakesh Sharma is in conversation with Radhika Gaggar and Shaishavi Kadakia of the Private Client practice, specialists in estate and succession planning, at Cyril Amarchand Mangaldas, Mumbai.
Managing debt, keeping personal and business finances separate, and curbing reckless spending are critical
Who inherits your property depends on the laws applicable to you, which in turn are dependent on your religion.
Trust formation is gaining momentum in India with many wealthy families opting for it
Watch the video to know about the process of making a will, uniform driving licenses norm and more.
In the absence of a Will or Nomination even day-to-day functioning gets affected, as the heirs don’t have access to the funds.
Due to frequent contesting of Wills (inter-se disputes among legal heirs), which results in protracted litigation, trust has become the need of the hour.
Most Individuals do not give due importance to succession planning. They may rationalize that they are too young or not wealthy enough to reap the tax benefits of a plan.
A trust is an effective tool not only for tax-planning but also to safe-guard the interests of family members (beneficiaries) by protecting the rights of its beneficiaries and minimizing family disputes over the property.
If you are looking for financial planning approach then it is better to avoid investing in MF though demat accounts. However, it can be a good platform if your needs are purely investment related.
Parents have always taken care of us and our needs. But as they grow older, they need a helping hand in many aspects of life- the financial aspect being an important one.
An estate plan aims to preserve the maximum amount of wealth possible for beneficiaries and flexibility for the individual prior to his death.
Outlined here are four important facts about making a will that can help us understand its need and features.
Estate planning is consolidating a person's wealth, preserving it and finally transferring it to the next generation.
You must be wandering what significance this saying can have in your adult life. Now even though you have grown up, the phrase holds the same significance but with a different interpretation.
It is important to get your finances in shape. Here are some pointers to follow, which will stand you in good stead after your retirement
As the focus for distribution of retail financial products shifts from commission-based to fee-based advisory, it is important for clients to understand the value of advisory and differentiate between financial advisers and mere product pushers.