Succession Planning
In this chapter we will discuss about the basics of succession planning, need for succession planning, and the various ways of doing Succession Planning. Shall we start are you ready? Come on lets go into the chapter. 1.1 What is Succession Planning? “In this world nothing can be said to be certain, except death and taxes.” - Writer Succession planning in simple terms refers to the passing of assets and investments down from one generation to another. You can decide how much of your estate whether be it property, cars, shares, bonds, Gold , mutual fund units and other financial investments, etc. Its core objective is also to distribute wealth in a pre-determined manner to a certain beneficiary or beneficiaries to whomever the owner wishes. It is a dynamic exercise that needs to be reviewed at regular intervals to include any changes that might happen in our life or in the applicable laws of the country. 1.2 What is the need for Succession Planning? a)...