Wealth management legal advisory for families

What wealth management legal advisory covers, and what it does not

We look at the structures and documents around your holdings: demat accounts, mutual fund folios, property, business shares, bank deposits and insurance. We check that ownership and nominations match your intentions, that the will and any trust deed are valid, and that the family knows what to do when the time comes.

We do not recommend investments, asset allocation or products. Where a question is about returns or suitability, we say so and send you back to your financial adviser.

Estate and succession planning services

Wills and codicils

Wills that describe every class of asset properly, name executors who will actually act, and deal with assets abroad. See our will drafting and probate page.

Family trust for succession

A private trust can hold a flat, shares or other assets for children or a dependant and avoid splitting them among many heirs. The private trust registration process is explained on our trust registration page.

Family settlements

A written memorandum of family settlement records how property is divided among members. If it creates or transfers rights in immovable property, it needs stamping and registration to be relied on later.

Holding structures

Individual, joint, HUF, private trust, or a company or LLP holding: the legal and succession consequences of each, explained before you choose.

Nominee or heir: who really gets the asset?

A nomination tells the bank, depository or fund house whom to pay. It does not decide who owns the money. In Shakti Yezdani v Jayanand Salgaonkar (2023) the Supreme Court held that a nominee of shares and securities holds them for the legal heirs, who take under the will or the succession law. Insurance is treated differently where the nominee is a 'beneficial nominee' under Section 39 of the Insurance Act.

So the will and the nominations must point the same way. Where they do not, families end up in court over money the deceased thought was settled.

Legal advice on market products

For the legal and regulatory side of particular holdings, see the page for each:

• Equities: insider trading rules, broker disputes and SEBI matters.
• Mutual funds: transmission, mis-selling complaints and regulatory questions.
• Alternative investment funds: fund documents and investor rights.
• Portfolio management services: agreements, disclosures and complaints.
• Structured products: terms, risk disclosures and disputes.

NRI family members and FEMA

When children or heirs live abroad, succession planning has to account for FEMA. NRIs can inherit property and securities in India, but agricultural land and farmhouses come with restrictions, and money is taken out through NRO accounts within the annual repatriation limit. A will made in India can cover Indian assets; assets abroad may need a separate will under that country's law.

Disputes with brokers, funds and advisers

Complaints against SEBI-registered intermediaries usually start with the intermediary's own grievance cell, then SEBI's SCORES platform, and then online conciliation and arbitration under SEBI's Online Dispute Resolution framework. Larger disputes may go to arbitration under the agreement or to the courts. We help you choose the forum and prepare the record.

How an engagement runs

1. Inventory. A list of assets, how each is held, and existing nominations, wills and deeds.
2. Gaps. We point out where ownership, nominations and documents conflict or are missing.
3. Structure and documents. Wills, trust deeds, family settlements and updated nominations.
4. Execution. Signing, attestation, stamping and registration where needed.
5. Review. A check every few years or after a major family event.

Who do we advise?

Families with property and market investments, promoters planning succession in a family business, doctors, lawyers and other professionals, and NRIs with assets in India. Meetings can be at our Sanpada office in Navi Mumbai or by video. Our wealth management guide for HNIs covers the background in more detail.