The Client's Situation

Mr. and Mrs. Agarwal contacted us because they had accrued considerable capital during their lifetime which they believed they would not spend. Mr. and Mrs. Agarwal wanted guidance on how they can pass on the wealth as effectively as possible to either of them and/or their children in the event of either one's incapacitation or death.

Finsense solution

People in India give very less focus on succession planning because they believe that it is limited only up to nomination and joint ownership. However, both these means are usually ineffective and legally disputable. Mr. and Mrs. Agarwal also had the same thought. They did have nominees in almost all the assets they possess, still, they were not aware of the nomination and joint ownership are both superseded by succession laws. After approaching Finsense, we did a thorough analysis of their assets and liabilities which included a portfolio review. After listening to both of them we found that they both wanted to leave an equal share amongst all the kids so that no dispute arises in the future. We did discuss all the complexities involved with our legal partner and made a will for both of them.

Value addition to the client

People in India give very less focus on succession planning because they believe that it is limited only up to nomination and joint ownership. However, both these means are usually ineffective and legally disputable. Mr. and Mrs. Agarwal also had the same thought. They did have nominees in almost all the assets they possess, still, they were not aware of the nomination and joint ownership are both superseded by succession laws. After approaching Finsense, we did a thorough analysis of their assets and liabilities which included a portfolio review. After listening to both of them we found that they both wanted to leave an equal share amongst all the kids so that no dispute arises in the future. We did discuss all the complexities involved with our legal partner and made a will for both of them.