Estate & Succession – WealthCubeCapital

Financial Advocacy at Every Stage

Get Started Today

Planning for succession of one’s estate is an integral part of wealth management but often ignored or postponed due to misplaced priorities. We often fail to accept and prepare for untimely death and eventually leave behind unplanned finances, incomplete papers and unorganized estate to our loved ones. We at Wealthcube, firmly believe that while it is important to create and grow wealth it is even more critical to plan for dispute and hassle-free transition of the wealth to legatees. We have inhouse capabilities to plan and implement tailor made estate and inheritance planning solutions for a smooth transmission of wealth to the next generation.

Some of the key tools we use to achieve estate planning objectives are:

Will
Private Trust
Gift Deed
Power of Attorney

Will

When a person dies without a Will (intestate) his/her estate is passed on according to succession law applicable. The distribution as per applicable succession law may not be as per wishes of the individual. Wills is a personal legal document through which one expresses his/her desires as to how their property is to be passed on. It is basic document which ideally everyone should prepare to capture their objectives with regards to distribution of their assets after demise.

Private Trust

A Private Trust created and made operational during one’s lifetime allows a person to plan for the estate beyond generations and minimize chances of dispute amongst the legatees. Through a Private Trust one can also plan for preserving ancestral property for multiple generations, protecting wealth from spendthrift legatees or protecting legatees from ill-effects of excess wealth. Further one can also plan for asset protection from personal and professional liabilities, planning for special needs person, brand protection, business succession etc.

Gift Deed

One can give away their assets to their loved ones either during life called as “Gift” or after demise i.e., through testamentary termed as “Will”. While the Gift takes place immediately, the Will is operational only after death. While Gifting property during life saves from hassles of probate and other complications of claiming them post demise, one should be vary of the fact that it leads to loss of ownership and control over the asset which may not be desirable if that’s the primary property of residence.

Power of Attorney (PoA)

PoA is a legal authority granted through a written formal instrument whereby one person termed as principal or donor authorises another person termed as agent or donee to act on his/her behalf. Generally, PoAs are created by someone who cannot do the transaction by himself/herself due various reasons like illness, travelling or residing abroad, old age etc. These transactions could be related to dealing in property, banking, tax payments, legal and judicial proceedings, financial investments etc.