Author: Sandeep N Setty

Ever watched your favorite cause bring a smile to someone’s face and thought, “I want more of that”? For many families and business owners, philanthropy is deeply personal—a way to honor loved ones, reflect shared values, and create ripples of good that last generations. But smart giving isn’t just about following your heart; it’s about weaving compassion into a plan that makes sense for your life and your legacy. 1. Begin with Your “Why” Before diving into numbers or tax forms, pause and ask yourself: Having clarity on your motivations transforms philanthropy from a checkbox into a heartfelt mission. 2.…

For high-net-worth individuals, entrepreneurs, and family businesses in Bengaluru, understanding the nuances of Indian succession law is critical to safeguarding your legacy. From ancestral properties in Indiranagar and Koramangala to tech startups in Whitefield, this guide demystifies the legal frameworks—Hindu, Christian, Parsi, and Muslim—governing adoption, guardianship, marriage, and inheritance. 1. Foundations of Hindu Succession Law 1.1 Sources & Scholarship 1.2 Legislative Milestones 2. Adoption & Guardianship: Securing Minor Heirs 2.1 Hindu Adoption & Maintenance Act, 1956 2.2 Guardianship under Karnataka Courts 3. Marriage & Succession: Hindu Marriage Act, 1955 3.1 Validity & Succession Impact 3.2 Marital Remedies 4. Christian, Parsi…

For sophisticated asset structures, family offices, and high-net-worth individuals, compliance with global anti–money laundering standards is non-negotiable. The Financial Action Task Force (FATF) sets the gold standard: its principles underpin India’s Prevention of Money Laundering Act (PMLA) and inform critical estate and intergenerational planning decisions. 1. FATF Origins & Mandate 2. Core Functions & Processes 3. Impact on Indian Regulations 4. Local Case Study: The Desai Family Office Background: A prominent Bengaluru family office, managing real estate in Indiranagar and an IT venture in Whitefield, was flagged during a 2018 FATF peer review for unclear beneficial-ownership disclosures. Outcome: 5. Strategic Imperatives for Asset…

Crafting an estate plan that honours wishes and keeps family harmony intact requires more than legal paperwork—it demands thoughtful goal setting, clear communication, and realistic resource assessment. Here are the most frequent missteps even seasoned estate owners make and how to steer clear of them. 1. Unequal Splits Without Context Pitfall: Granting one child a vastly larger share than another, “because they need less”, or as a perceived reward, can be a source of resentment.Why It Backfires: Sibling dynamics often shift when real dollars and properties are on the line. The high-achiever you’re rewarding may feel guilt, while a quieter sibling may…

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…