SUCCESSION PLANNING
Succession Planning: The Key to a Protected Legacy
Many families struggle to access what rightfully belongs to them, and it is unfair that the assets built up over the years are not being passed on to their loved ones.
Guiding Your Wealth with Purpose
Succession planning is an important consideration for Non-Resident Indians (NRIs) who invest in or manage assets in India. Since many NRIs have strong financial and emotional connections to their homeland, proper planning helps ensure their wealth is protected, managed wisely, and passed on to future generations in line with their wishes.
A key reason for NRIs to focus on succession planning is the complexity of India’s inheritance laws. Rules can differ depending on the type of property and the people involved, which often makes the process challenging. Proper planning helps overcome these legal hurdles, minimises the risk of disputes among heirs, and offers peace of mind by ensuring that assets are distributed as intended, while also preventing potential family conflicts.
Our Proven Pathway to Success
Succession planning isn’t something to think about only in your later years, as it’s a process that benefits from early attention. At CONSULTCALIVE, we specialise in guiding NRIs through the complexities of inheritance laws and cross-border assets. Our comprehensive approach focuses on developing tailored strategies that facilitate smooth and hassle-free asset transfer. With our expertise, NRIs can protect their wealth, ensure a seamless transition to future generations, and enjoy peace of mind.
From Planning to Execution
We have 4 stages:
- Assessment of Current Situation
- Development of a Succession Plan
- Implementation of the Plan
- Regular Review & Adjustments
Succession planning is the process of defining long-term goals and making arrangements in advance to ensure that an individual’s wealth and legacy are smoothly transferred to the rightful heirs of their choice.
Without a succession plan, your assets will be divided based on state laws, which may not reflect your personal wishes. This often creates confusion, increases the chances of family disputes, and can even lead to lengthy and costly legal battles.
1. Reviewing and compiling all assets
2. Defining wishes and creating a distribution plan
3. Seeking professional consultation
4. Preparing the necessary legal documents
5. Regularly reviewing and updating the plan
1. Real estate properties
2. Bank accounts and investment portfolios
3. Personal belongings (such as jewellery, vehicles, artwork, etc.)
4. Business interests
5. Digital assets (including online accounts and cryptocurrencies)
A succession plan should be reviewed regularly, ideally every 1–3 years or whenever there are significant changes in family structure or assets.
