12 Oct 2026Succession and estate planning ensure that a family’s wealth and business pass smoothly to the next generation — with minimum dispute, tax leakage and delay. A family office brings this together, coordinating investments, governance, tax and succession for business families and high-net-worth individuals.
What is a family office?
A family office is a dedicated structure that consolidates a wealthy family’s financial affairs — investment management, accounting, tax, legal coordination, philanthropy and, crucially, succession — under one governance framework, so the family’s wealth is managed professionally and transferred in an orderly way.
Core succession planning tools in India
- Will — the simplest instrument; note that probate is mandatory for Wills covering immovable property in certain jurisdictions, such as the presidency towns of Mumbai, Chennai and Kolkata.
- Private family trust — offers control, asset protection and smooth, probate-free succession, and is increasingly used by Indian business families.
- Hindu Undivided Family (HUF) — a tax-recognised family entity useful for certain families.
- Nomination vs succession — a nominee generally receives assets as a trustee for the legal heirs, not as absolute owner, so nomination is not a substitute for a Will.
- Family settlement & gifts — gifts between specified relatives are exempt from tax under Section 56(2)(x).
Tax angle: no estate duty, but plan carefully
India currently levies no estate or inheritance tax. However, capital gains on inherited assets (the previous owner’s cost and holding period carry over), clubbing provisions and gift rules all need planning to avoid unexpected tax when assets are eventually sold or transferred.
Succession planning for NRIs
NRIs can inherit Indian assets under FEMA and repatriate up to USD 1 million per financial year from NRO accounts, subject to documentation and tax clearance. Cross-border Wills, legal-heir and succession certificates, and DTAA considerations make NRI succession more complex, so early, coordinated planning matters.
Planning your family’s succession?
For business-family wealth structuring, see our family office services; NRIs can find dedicated succession & estate planning guidance; or contact Regi Tom Antony & Associates.
Frequently asked questions
Is there inheritance tax in India?
No. India has no estate or inheritance tax — estate duty was abolished in 1985 — though capital-gains and gift rules still apply on later transfers.
Is a nominee the owner of the assets?
Generally no. A nominee usually holds the assets in trust for the legal heirs, so a Will or trust is still needed to decide ownership.
Do I need a trust or is a Will enough?
A Will suffices for many families; a private trust adds control, asset protection and probate-free succession, which suits business families and larger estates.