Succession and Trust Practice

The Royal Family’s Legacy

Inheritance and succession have traditionally derived from family and kinship structures, often designating the eldest son or male relative as the heir to uphold traditions and responsibilities. Some hereditary monarchies featured distinctive processes, particularly during dynastic shifts. For instance, William IV’s reign transitioned to Queen Victoria, who, as a woman, could not inherit Hanover due to its male-only succession rule, ending the UK-Hanover union. The Victorian era brought cultural transformations. This pattern persisted in the British Royal lineage: King George V was succeeded by his eldest son, King Edward VIII, who abdicated to marry a divorcee, leading to his brother King George VI’s ascension. King George VI navigated World War II with distinction. Upon his 1952 death, his elder daughter, Queen Elizabeth II, became one of Britain’s longest-reigning monarchs, succeeded in 2022 by her eldest son, King Charles III.

To Safeguarding Successions & Planning Trust

Just as royal successions balanced tradition with unforeseen challenges, contemporary succession planning employs vehicles to secure family interests post-demise, mitigating legal glitches while catering to members’ needs. Our succession and trust team specialise in these mechanisms, drawing on historical precedents to inform robust strategies.

One key tool is creating private trusts for beneficiaries, originating from Roman “Fiducia,” where property was managed for heirs amid inheritance restrictions. This evolved into “Uses” in land rights, forming the basis of modern trusts under the Indian Trusts Act 1882. Trusts prove effective for succession, asset management, financial oversight, securities investments, and beneficiary benefits. Alternatively, drafting a Will remains common; our firm advises on Wills, assists with probate or letters of administration, and represents in contests before appropriate forums. With periodical updates, including Supreme Court rulings allowing heirs to sell undivided ancestral shares and discussions on potential inheritance tax , plus inclusion of digital assets in disputes , personalized planning is crucial.

The other is creation of (private) trust. Family trusts are very effective and convenient and if used prudently can be a great tool not only for succession planning, but also for managing assets, finances and investing in securities and utilizing the returns earned by the trust for the benefit of the beneficiaries.
Writing Will and/or creating a Trust needs personalized involvement with the clients. Our Success and Trust Practice team directly interacts with the clients to understand their wishes and mode of distribution, and personalize their Will and/or Trust, including, ascertaining classes of beneficiaries.

Our succession and trust team engage directly with clients to comprehend wishes, distribution modes and beneficiary classes, crafting customised Wills and Trusts. Services include:

Will Drafting and Execution: Advising on creation, probate, and defence against contests.
Trust Formation: Establishing private trusts for efficient asset devolution and management.
Succession Planning: Balancing family interests to avoid glitches, incorporating periodical update & evolutions like digital asset handling.
Dispute Resolution: Representation in legal challenges arising from succession issues.

Why engage our Lawyers

Personalized Interaction
One-on-one, in-depth discussions with clients and their family members to align legal strategies with the family’s specific needs and desires, proactively addressing potential future issues.

Extensive Expertise
Over 25 years of experience advising clients on various aspects of succession planning and estate management, ensuring customised solutions after understanding the legal issues involving it.

Balanced Safeguards
Given the sensitivity of the portfolio, a cautious approach is taken to address present and future legal challenges while carefully considering all critical facets of the overall assignment.

Global Network
Strategic partnerships with leading firms across the US, Europe, Middle East, Southeast Asia, and Australia, providing comprehensive support for NRIs with business interests and estates both in India and abroad.