Author: Sandeep N Setty

Life is unpredictable. No one wants to think about the worst happening, but planning ahead can make a big difference. That’s where term insurance comes in. It’s one of the simplest and most affordable ways to ensure your family is financially protected if you are no longer around. In this article, we’ll break down what term insurance is, how it works, and why it might be your smartest financial decision. What Is Term Insurance? Term insurance is a type of life insurance that covers you for a specific period, say 10, 20, or 30 years or more. If something happens…

Passing down wealth isn’t just about assets—it’s about culture, communication, and competence. Despite our best intentions, many families see their hard‑earned fortunes dissipate or fracture over time. Below, we explore the key causes of generational wealth erosion and the effects that can tear families—and legacies—apart. Causes of Wealth Breakdown 1. Heirs Not Informed in Advance When the next generation isn’t educated about the family’s assets, values, and vision, they arrive cold to the responsibilities awaiting them. This lack of early communication breeds uncertainty and disengagement. 2. Assumption of Agreement “It’s always been this way.” Families often assume everyone shares the same goals—only to discover, too late, that…

Scenario: The case of a Bengaluru-based businessman: A successful entrepreneur in Bengaluru, who had invested ₹40 Cr in properties and shares, passed away unexpectedly. His wife and children were left with no immediate access to these assets, as the probate process could take up to 18 months. However, the businessman had a ₹2 Cr life insurance policy with a trust in place, which provided immediate funds to his family. This payout allowed them to: Despite the lengthy legal process for other assets, the life insurance payout ensured the family did not suffer financially during this challenging time.

In partnership businesses, succession isn’t just about replacing a leader—it’s about preserving value, relationships, and hard-earned legacy. As a business owner or partner, consider these critical questions: Scenario: The Four-Partner Dilemma in Bengaluru Vrishti, Rajesh, Saurabh, and Bhushan—unrelated partners—built a thriving financial advisory firm over decades. Now in their mid-60s, Vrishti, Saurabh, and Bhushan wish to retire, while Rajesh (20 years younger) is passionate about leading the company forward. Analysis: Where Planning Fell Short The partners shared a vision but failed to map a clear path to preserve that vision: Solutions: Structuring a Robust Succession Framework Key Takeaways for Bengaluru’s Business Leaders…

Succession in family-owned businesses poses unique challenges—balancing ownership transfer, management readiness, and family harmony. Below, we explore critical decisions, spotlight a real-world case, and provide an integrated approach to safeguard both value and relationships Key Decisions in Family Succession Case Study: The Chaudhary Family in Bengaluru Background: Mr. Ghanshyam Chaudhary, a closely held business owner in his early 60s, has three children: Succession Plan Built: Family partnerships and trusts hold insurance and company shares. The plan was deemed “complete”—on paper. Outcome a Year Later: Analysis: Why the Plan Failed Integrated Succession Solutions Your Next Steps  Ready to build a resilient, family-aligned succession roadmap?…

Failing to plan your exit isn’t just an oversight—it can jeopardize the very value and legacy you’ve built. For Bengaluru’s business leaders, HNIs, and family patriarchs, an exit strategy is a process, not a one-time event. Ideally, it begins the day you open your doors—but “someday” often arrives sooner than expected. The High Cost of “Someday” Planning First: Business Exit Strategy Planning Overview Exit Planning Steps Detailed Exit Strategy Overview Why, When & How Do I Want to Exit? Reasons for Disposal & Time Available to Plan Key Questions to Ask Second: Business Continuity Planning Even if you’re exiting, the continuity of value—during…

Succession planning isn’t just about distributing assets—it’s about ensuring access to liquid funds when and where they’re needed. Even the wealthiest families can face complications when assets are locked in non-income-generating properties, disputed ownerships, or held in complex business structures. Liquidity—or the lack of it—can make or break a smooth generational transfer of wealth, especially during emotionally charged events such as death, divorce, or an exit from the family enterprise. In this blog, we explore the key liquidity-related challenges that must be addressed during succession planning: 1. Non-Income Bearing Assets (e.g., Non-Agricultural Land) Many families hold substantial wealth in land parcels or immovable property that do not generate…

Succession planning in family enterprises is both an art and a science—a delicate balance of legal, financial, and deeply personal factors. Beyond simply identifying the next leader, choosing how and when to transfer control can shape the future of your family’s legacy. Below, we explore the key aspects that influence succession decisions and offer practical considerations for each. 1. Gender and Control: Should Authority Be Limited to Male Members? 2. Role of Female Family Members 3. Involvement of Extended Family Members 4. Compensation Structures 5. Earnings of Family Members Not Involved in the Business 6. Asset Allocation: Real Estate, Financial…

Estate planning isn’t a one‑time task—it evolves as your life does. From the moment you turn 18 through the peak of your wealth-building years, having the right documents, strategies, and conversations in place ensures your wishes are honored and your loved ones protected. Let’s walk through the key milestones and must‑haves at every stage of life. 1. Age 18+ (Unmarried) At 18, you’re legally an adult—but you’re also vulnerable to unexpected events. Here’s what every single adult should have: 2. Unmarried but Committed Living together without legal marriage has its benefits—but inheritance isn’t automatic: 3. Married Couple (No Children) Marriage…

When planning succession—whether for personal assets or a family business—taxation is often the elephant in the room. It’s complex, multifaceted, and varies not just by country, but also by religion, asset class, and regulatory framework. Understanding how taxes and laws impact wealth transfer is critical for anyone serious about protecting and preserving family wealth across generations. Let’s explore the major taxation issues that influence succession decisions, and why careful estate planning is essential. 1. Personal Laws: Religion-Based Restrictions on Wills In India and many other jurisdictions, personal laws play a significant role in what one can or cannot will: Why…