Estate Planning & Tax Efficiency
If family members are unable/ unwilling to carry day to day business activities due to lack of business acumen or domain expertise or due to complexity of business, Business Succession Planning becomes all the more point of concern for the business family promoter.
To be assured about your family’s wellbeing by means of following Estate/ Succession planning steps mentioned below, one can ensure that his/her wealth is distributed as per one’s ‘WISH’. Else wealth will be distributed as per effect of the personal law applicable to each individual.
(For more details visit – https://lexonomix.com)
- Will Preparation
- Living Will
- Letter of Custody
- Letter of Guardianship
- Letter of Administration
- Formation of Private Trusts for benefit of family members
- Family MoUs
- Family Constitution
- Management and Ownership – Separation/ Overlap/ Integration
- Ring Fencing
- Family Office Services – (For more details visit www.mfoindia.com)
Indeed, Tax Saved is Money earned. The nature and features of investment instruments are similar but the Tax Provisions and applicable tax rates are different. It would be missed opportunity if one doesn’t take advantage of tax efficient investment instruments while preparing your portfolio. Selection of right investment avenues. Estate planning and Income Tax Planning goes hand in-hand as Many Business Families worry that the government might bring in Estate/ Inheritance Tax in Future. It is need of the hour to take this aspect of ‘Estate/Inheritance Tax’ into consideration for long term planning.
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