It is projected that the number of ultra-rich people in India—those with incomes over Rs250crs —will increase by 58% during 2022 -2027. First-generation wealth creators will transfer trillions of rupees in business holdings, assets, and investments to their successors over the next few decades. A lot of families are still unprepared for this inheritance. There is a greater chance of conflicts and fragmentation because few have formal estate planning, succession plans, or governance frameworks. The confusion will lead to wealth destruction. Around the world, the second generation loses around 70% of family wealth, while the third generation loses around 90% […]