Will, Succession and Testamentary matters
Your Will is a legal document of supreme importance to you. We will understand quickly your motives and desires for succession to your estate and will give clear and robust advice on the options open to you to achieve your objectives effectively. We know how to minimise the risk of a claim being made against your estate and are alert to the different dynamics within families.
We are quick to respond and to prepare documentation but we won’t rush you into making a decision; we are good at listening and deal promptly with concerns and queries. Our efficient but personal approach means that your experience with us will be a positive one.
If you have assets in multiple jurisdictions and complex business structures, high value real estate or other assets, we can give appropriate advice or liaise with other professional advisers when appropriate. We understand the need to dovetail India succession planning with laws in other countries, with shareholder or partnership agreements where there are business or farming assets, and give expert advice on tax implications and structuring your Will tax-efficiently.
We are often called upon to advise on the creation, administration and interpretation of trusts and their associated tax issues and we act on behalf of settlors, trustees and beneficiaries. We match our keen academic knowledge of trust law with experience in finding practical solutions against a complicated conceptual background.
Our specialist team deals with the administration of a deceased’s estate. We know that the death of a family member puts practical, financial and emotional stress on those left behind but we understand how to address the practicalities and realities in a way that gives confidence and a degree of peace of mind.
It continues to surprise us how many people in India pass away without making a valid Will. So many people wrongly assume that if you are married or living with a long term partner, everything will go to them automatically on death. However, this is not the case if there are children or if you are not legally married. The intestacy rules (which come into play if no Will is left) rarely achieve a desired result. The rules are necessarily a “one size fits all” solution with the result that rarely matches individual wishes. Failure to make a Will exposes those left behind to otherwise avoidable tax implications and financial worry.
As you would expect, our advice is that anyone who has assets, and cares about what happens to those assets on death, should make a Will, but there are certain circumstances where it’s more important than ever to make or review your Will:
Please don’t put off talking to us about making a Will; the result should prove to be peace of mind for you – and financial certainty for your family.
