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Ring fence your family's assets with a trust

This vehicle ensures fewer family disputes and smooth distribution of wealth

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Sandeep Nerlekar
Most business families dilly-dally when it comes to the crucial task of succession planning. Developments within the Singhania family highlight the importance of carrying out succession planning in a planned and timely manner. The father gifted the shares of his companies to his son. Ideally, he should have handed over management, but not the ownership of the company. He is perhaps repenting his decision today.
 
A high level of inertia: Most business families don't begin succession planning in time for fear of opening a Pandora's Box. They feel that initiating the process will disturb the family's harmony. What they