Succession and Inheritance Laws
Estate planning/ succession necessitates a customized approach for each individual based on his/ her unique circumstances and demands. It is with this intention that our law firm’s Private Client Practice Group has been set up with the exclusive goal of effective estate planning so as to ensure that property and belongings owned and possessed by any individual are effectively passed on to the intended recipients without the need for protracted litigation and disagreements. Contrary to the prevalent practise where most people put off/ delay estate planning and preparation, it is our view that estate planning should begin as soon as practicable and without any affordable delay. The sooner the testator's desire is understood and clearly communicated to his or her family members/ friends, the less are the chances of unintended bitterness or animosity within the family.
Accordingly, our law firm advise High Networth Individuals and financial institutions acting as trustees, executors, custodians, and wealth and investment managers in relation to the following:
- Drafting and Registration of General Power of Attorney/ Specific Power of Attorney for the purposes of management and sale of real estate properties held by High Networth Individuals resident outside India
- Drafting Wills/ Codicils and related succession planning as well as advisory work
- Filing and obtaining testamentary documents such as probates, letters of administration and succession certificates from competent courts in Maharashtra and West Bengal
- Drafting of Trust Deed and Trust Registration
- Assistance in structuring of Family Trusts
- Drafting family settlement agreement and implementing deed of family settlement and family constitutions
- Establishment and structuring of private family trusts for the purpose of asset protection, succession planning, care of dependents and lifetime gifts / distributions
- Rendering advise in relation to wealth planning issues for non-resident Indians regarding their properties and assets held in India; and
- Resolution of family conflicts through court/ out-of-court settlement and drafting consequent legal notice
