How estate planning plays crucial role in preserving wealth
The Morning Standard
|October 14, 2024
Experts say it is essential to have a backup mechanism in the form of estate planning to protect and transfer wealth to beneficiaries, thereby preventing disputes
DIVI Dutta, a partner with IndusLaw, remembers a case where her client found himself amidst litigation that threatened his financial stability.
The client's wife was involved in a lawsuit concerning the enforcement of a personal guarantee, his daughter was in the middle of divorce proceedings, and his son, who got separated from his wife, was also anticipating divorce proceedings.
The client wanted to protect his assets from these litigation and ensure a succession plan for his children and grandchildren. She resolved his problem by designing a trust.
“Setting up a trust early on helps ring-fence assets from legal risks like divorce or litigation, while still allowing control during one's lifetime. It also ensures a smooth transition of wealth to future generations, protecting both family stability and business legacy,” says Dutta.
As per Lokesh Shah, Partner with IndusLaw, it is essential that one grows his wealth while at the same time has a backup mechanism in the form of estate planning to preserve his wealth.
“There are numerous instances of successful businessmen setting up family trust to secure their future. For instance, the Fisher Family Trust, Zydus Family Trust. These instances teach us that the right time for estate planning is ‘now’,” Shah says.
Dit verhaal komt uit de October 14, 2024-editie van The Morning Standard.
Abonneer u op Magzter GOLD voor toegang tot duizenden zorgvuldig samengestelde premiumverhalen en meer dan 9000 tijdschriften en kranten.
Bent u al abonnee? Aanmelden
MEER VERHALEN VAN The Morning Standard
The Morning Standard
Justice Department reviews 5.2 million Epstein documents, ramps up legal effort
THE Department of Justice has expanded its review of documents related to the convicted sex offender Jeffrey Epstein to 5.2 million as it also increases the number of attorneys trying to comply with a law mandating release of the files, according to a person briefed on a letter sent to US Attorneys.
1 min
January 02, 2026
The Morning Standard
Expect warmer winter, lesser rainfall this year
THIS winter from January to March would be warmer in most parts of the country, resulting in less rainfall and fewer cold waves, the Indian Meteorological Department has predicted.
1 min
January 02, 2026
The Morning Standard
Hindu businessman critically injured in another mob attack in Bangladesh
Rahman thanks Yunus for attending funeral
1 mins
January 02, 2026
The Morning Standard
False rape allegations scar accused for life, need close scrutiny, says HC
THE Delhi High Court has said that false rape allegations can inflict lifetime scars on the accused, while calling for \"close scrutiny\" in such cases.
1 min
January 02, 2026
The Morning Standard
Police complaint over 'teachers to count dogs' claim
THE Directorate of Education of the Delhi government has taken cognisance of information circulating on social and digital media platforms alleging that teachers in government schools were directed to count stray dogs, calling the claims false and fabricated.
1 min
January 02, 2026
The Morning Standard
New IPL crorepatis are India’s next-gen hopefuls
BE it mega or mini IPL auction, it has always produced rags-to-riches stories.
2 mins
January 02, 2026
The Morning Standard
Ivory Coast top group ahead of Cameroon
REIGNING champions Ivory Coast pipped Cameroon to top spot in their group after Algeria maintained their perfect record as the first round of the Africa Cup of Nations concluded on Wednesday.
1 min
January 02, 2026
The Morning Standard
GIG WORKERS' PROTEST FIZZLES, DEMANDS STAY UNATTENDED
THE December 31 nationwide strike proposed by gig workers created a minor blip on India's quick-commerce graph.
1 mins
January 02, 2026
The Morning Standard
From saloon to golden glory: Lifter Yash shows potential
RETURN of India’s star weightlifter Mirabai Chanu, a former world champion and Tokyo Olympic silver medallist, to international competition after a long injury layoff stole the limelight during the Commonwealth Championships held at Ahmedabad in August this year.
1 mins
January 02, 2026
The Morning Standard
New Year eve marks tourism revival in Kashmir
THE New Year arrived on a hopeful note for Kashmir tourism as tourist resorts in Gulmarg, Sonamarg, and Pahalgam, along with the historic Ghanta Ghar in Lal Chowk, witnessed grand celebrations, signalling a revival of the sector after last year's setback.
1 mins
January 02, 2026
Listen
Translate
Change font size

