Succession Planning - A necessity for every individual to make a Will. Will is an instrument for Succession Planning. It's not about Death, it is about Succession.

1. Succession PLANNING
Presented by Advocate Dr. Sunil Gokhale

2. Why Plan for Succession
Life is Uncertain – Succession is Inevitable
The wealth accumulated during your lifetime cannot be carried after death but
will remain with the successors to enjoy.
Wealth moves Inter-Generational
The course of the wealth is from one generation to another. Like you inherited
from your ancestors so would your children. Wealth cannot remained locked or
stagnated with the preceding generation.
Plan Wealth. Plan Succession.
When you decide to invest in any instrument which would accumulate wealth,
also make a decision on its succession – or at least start thinking of what would
happen after me.

3. Why Plan for Succession
My Wealth. My Wish.
The self-acquired wealth is earned through your efforts, through your intellect.
You have the right to distribute that self-acquired wealth according to your
wishes.
Death should not become a cause of a Family Feud
Do not create a situation where you’re the distribution of your wealth after your
death becomes a cause for a family feud. You would not have liked it.
Legal Transfer
Enforce your position of inter-generational transfer by a legal document. The next
generations would pay high respects for such an act.

4. Properties for Succession
Immovable Properties
The immovable properties will include land, plot, flat and/or shop.
Movable Properties
The movable properties will include investments in any form, gold, silver and
other ornaments, intellectual property
Ancestral Properties
You can distribute only your share in the ancestral properties that you get either
from your father or mother.
Donation of Body Parts
You can make a wish of donating a body party, but they need to be registered
with the appropriate authority.

5. Making a Will
Will – An Instrument of Succession Planning
You can distribute your property by your wish and need to be the force of the
law.
Will – Not about Death but about Succession
Will does not mean that you are thinking about death, it means you are thinking
about succession
Will – Mandatory Requirements
You can distribute the property that you own (your ownership documents), the
names of the people or organizations to whom you want to distribute, two
witnesses.

6. Tuesday, October 22, 2013
Presented by Adv. Sunil Gokhale