Common mistakes to avoid when passing wealth onto the next generation

Devolution of property would be governed under the Hindu Succession Act, the Indian Succession Act, or the respective personal laws for Muslims in case there's no Will

The Association of Registered Investment Advisers (ARIA) recently came out with a white paper on nominations and succession planning. It provides insights into nomination facilities and specifies the measures, both conceptual changes and process of law, required across financial assets to simplify and ease the lives of investors and their families and successors. 

ARIA also launched an initiative to help investor families and financial advisors deal with specific challenges, such as processes related to the transfer of assets to the heirs, upon the death of an investor. 

Lovaii Navlakhi, chairman, ARIA, says, “This initiative will help people get information and