Don't rush to transfer assets into a trust

HNIs are scrambling to do so, as they fear government might introduce inheritance tax. This haste could cost them dear

There is once again speculation that the government might introduce inheritance tax or estate duty. Many high net worth individuals (HNIs) have already set up trusts, or plan to do so, to ring fence their assets. They should weigh the pros and cons of this step before rushing in. 

Beating the taxman: Currently, there is no tax in India when assets are bequeathed to heirs. Developed countries such as the United States and the United Kingdom levy this tax in cases where the asset size exceeds a certain limit. HNIs fear the Indian government may do the same. 

Experts are of the