Author: Sandeep N Setty

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:…

Money, Like Attention, Must Work Around the Clock Wealth isn’t an accident. It’s built through intentional actions, wise investments, and a relentless focus on income. To be rich, you must think and act differently from the 76% of Americans living paycheck to paycheck, even though America is a rich country. So money is mindsset irrespective whether you live in India or another country. Here’s why most people stay broke and how you can break free. 1. Comfort Is the Enemy of Abundance Most people seek comfort, not freedom. They make “just enough” to get by, rather than striving for affluence. The rich don’t think in terms…

Quick Quiz: Pause, Reflect, And Answer Honestly. 1. Do you want full control over your property while you’re alive?Answer: Absolutely.Yet 65% of Indian families report losing control of assets due to outdated documents or informal agreements.¹ When you procrastinate, you hand the reins to chance—professional fees, unexpected disputes, even court orders. 2. Do you want to care for your loved ones if you become disabled?Answer: At minimum, yes.Case study: Mr. Gupta, 58, set up a durable Power of Attorney—and when he suffered a stroke, his family accessed ₹50 lakhs within days to cover medical bills, avoiding weeks of red tape.Without this…

Inheritance planning is often misunderstood as simply dividing assets among heirs. But the truth is, it’s about much more than that. It’s about creating a framework that empowers future generations to thrive while preserving family harmony and values. Without proper planning, inheritance can become a source of conflict, mismanagement, and even financial erosion. The Cost of Inaction Failing to plan for inheritance can lead to: The Solution: A Structured Approach to Inheritance Final Thought Inheritance planning isn’t just about dividing wealth—it’s about creating a legacy that reflects your values and supports your family’s future. By taking a structured approach, you…

Succession disputes often arise not from lack of assets, but from lack of clear planning. This case study of Mr. Ramesh illustrates how failing to create mirror wills led to the sale of a cherished family flat and emotional turmoil—an outcome that could have been easily prevented. 📌 BackgroundClients: Mr. Ramesh and his first wife (both co-owners of a flat in Jayanagar, Bengaluru) Family Structure: Asset: A residential flat purchased jointly by Mr. Ramesh and his first wife Life Events: 🔍 The DisputeAfter his wife’s death, the flat remained in both names—yet without a mirror will or clear testamentary instructions:…

Mastering money isn’t just about saving—it’s about strategy, mindset, and daily action. These principles will shift your financial focus from survival to growth. 1. Income Is KingNo one ever got rich without income first.🚨 Job = Just Over Broke.💡 Fix: Always think about increasing income daily, weekly, and monthly. 2. Spend 95% of Your Time Making Money, 5% Managing ExpensesMost people do the opposite. That’s why they stay broke.💡 Rule: Focus on income growth first. Expenses matter, but wealth is built through earning more, not just spending less. 3. The 30% RuleForce yourself to save 30% of your gross income.…

Life insurance is a financial contract between an individual (the policyholder) and an insurance provider (for example, LIC, National Insurance Company) ensuring financial security for the policyholder’s family in case of an unfortunate event/mishap. In exchange for regular payments, known as premiums, the insurance provider offers a lump sum payout to the designated beneficiaries upon the policyholder’s passing or after a specific period. Some policies also offer a maturity benefit, providing financial support to the policyholder at the end of the term. In simple terms, life insurance means sharing of risk. It replaces your future income that you have not…

For parents and guardians in India, safeguarding a child’s inheritance goes beyond merely naming them as an insurance nominee. A Minor Beneficiary Trust—often called a Child Education or Minor’s Trust—is a legally enforceable way to manage and protect assets for minors until they reach specified milestones. Why a Trust Beats Nomination Alone SEO Keywords: “minor beneficiary trust India,” “child education trust,” “trust deed for minors.” Quantified Impact Building Your Minor Beneficiary Trust: Five Steps Real-Life Example: The Sharma Family Key Takeaways for Indian Families Next Steps: Secure Your Child’s Future Today Protect your minor beneficiary with a robust trust and insurance combination.M:…

Overview of the Concept Bank On Yourself is a financial strategy that uses a specially structured participating (dividend-paying) whole life insurance policy to build your banking system. In India—where many traditional savings and investment products such as fixed deposits, the Public Provident Fund (PPF), or mutual funds have their risks and limitations—this method provides an alternative approach. By choosing a participating policy from reputable insurers, you build a steady cash reserve, regardless of market fluctuations. How It Works 2. Advantages of Bank On Yourself for the Indian Consumer Tax Efficiency Steady Asset Growth with Investment Flexibility Enhanced Liquidity and Control…

Private Placement Life Insurance (PPLI) is emerging as a powerful wealth management tool for high-net-worth families across the globe. In today’s complex financial environment, families with significant assets face unique challenges—ranging from diverse tax jurisdictions to the need for confidentiality and precise control over intergenerational wealth. PPLI offers a tailored solution that not only optimizes tax efficiency but also provides robust confidentiality, centralized asset consolidation, and a continuous flow of wealth across multiple generations. What Is PPLI? PPLI is a specialized form of cash-value universal life insurance offered on a private placement basis. Unlike standard life insurance products, PPLI is…