Succession through Private Trust—Legal, Tax and Regulatory Aspects By Bijal Ajinkya, Girish Vanvari, Anup Shah, Yogesh A. Thar, Ketki Mittal, Paresh Shah, Parul Jain, Ipsita Agarwalla

Succession through Private Trust—Legal, Tax and Regulatory Aspects is the most exhaustive and insightful treatise on succession planning via private trusts available in India today. Authored by an unparalleled team of professionals across law, tax, and finance—and published on the centenary of the Chamber of Tax Consultants—this book provides a comprehensive, practice-driven roadmap for legacy creation, family wealth management, and cross-generational transition in a globalised, regulation-heavy environment. It covers the full spectrum—from Hindu Undivided Family (HUF) structures and inter-faith succession to digital assets, offshore trusts, and the complex intersections of FEMA, SEBI, Stamp Duty, and Company Law—this book is a comprehensive, meticulously annotated, and practical reference. It serves both as an advanced masterclass in succession strategies and structures and as an indispensable daily resource for readers engaged in wealth transfer and legacy planning.

This book is intended for the following audience:

• Wealthy Individuals, Business Families & HNIs – Seeking to secure, transfer, and protect family wealth—whether within India, globally, or across multiple generations
• Advocates, Chartered Accountants & Wealth Advisors – Looking for a deep, actionable guide to structuring private trusts, interpreting statutes, and ensuring regulatory compliance for clients
• Corporate Promoters & Start-up Founders – Wanting seamless business succession and protection from business risks or family disputes
• Non-Resident Indians (NRIs), Global Indians & Multinational Families – Managing cross-border estate issues, foreign trusts, and international tax exposures
• Academicians, Law & Commerce Students – Needing authoritative commentary, landmark cases, and a full synthesis of succession law, tax, and trust practice
• Banks, Trusteeship Companies, and Compliance Teams – Requiring updated checklists, precedents, and operational templates for estate planning services

The Present Publication is the Latest Edition, commissioned by The Chambers of Tax Consultants and published exclusively by Taxmann, with the following noteworthy features:

• [Full-spectrum Succession Law] Covers the spectrum from testamentary (wills, codicils, probate) and intestate (succession acts for Hindu, Muslim, Christian, and Parsi) inheritance, to modern trust-based structures and family arrangements. It also analyses the interaction between personal laws, codified statutes, and global best practices
• [Trusts – Drafting, Registration & Governance] Step-by-step, template-driven guidance on drafting trust deeds, clarifying the powers, obligations, and fiduciary roles of trustees, and legal mechanics of trust registration under the Indian Trusts Act 1882. It also includes model trust clauses, drafting checklists, and real case studies of trust disputes and their resolution
• [Interplay with Regulatory Frameworks]
  • FEMA – Simplifies residency and cross-border trust issues, from permissible gifts to repatriation of inherited wealth, implications for NRIs/PIOs, and offshore trust scenarios (with special focus on US/UK)
  • SEBI & Company Law – Explains how trusts interact with SEBI’s Takeover Code, stamp duty implications for securities, transfer of shares, and compliance for family businesses
  • Stamp Duty & State Laws – State-wise analysis of trust deed stamping, registration requirements, and pitfalls in conveyance of immovable property
• [Advanced Tax Analysis] Deep dives into taxation of trusts (discretionary, specific, charitable), HUFs, and family settlements—including anti-avoidance rules, nominee taxation, clubbing provisions, and cross-border tax implications. It also explains how trust structures can (and cannot) be used for tax minimisation, and addresses recent amendments and landmark court decisions
• [Practical Tools, Precedents & Templates] Comprehensive annexures with sample trust deeds, checklists for FEMA, SEBI, and tax compliance, tabular summaries of judicial precedents, and decision trees for choosing the right succession vehicle
• [Case Law & Subject Index] Curated tables of leading case law from Supreme Court, High Courts, and global tribunals, with concise notes on their practical implications. Also includes an exhaustive subject index to locate provisions, rules, and case references quickly
• [Centenary Project] Represents 100 years of professional excellence and thought leadership of the Chamber of Tax Consultants
• [Interdisciplinary Approach] Combines statutory law, regulatory guidance, tax analysis, examples, and future-facing scenarios (including digital/crypto assets)
• [Risk Mitigation Focus] Clear strategies for preventing family disputes, avoiding regulatory penalties, and ensuring legacy continuity even in complex cross-border situations

The coverage of the book is as follows:

• Introduction to Succession Planning in India—Adv. Bijal Ajinkya
  • Discusses the purpose, evolution, and urgent need for succession planning
  • Provides frameworks to analyse family needs, regulatory risks, and evolving trends (including digital/crypto assets)
• Private Trusts | Drafting and Case Studies—CA. Girish Vanvari
  • Types and classification of trusts, from revocable to irrevocable, fixed to discretionary
  • Model trust deed formats, registration checklists, and practical drafting dos & don’ts
  • Practical case studies on how trust structure prevented (or failed to prevent) family disputes
• Regulatory Environment | Hindu, Muslim, Christian, Parsi Law, Wills, HUF—Dr Anup P Shah
  • Comparative approach to personal law regimes and their impact on succession planning
  • ‘Will vs. Nomination‘ – Explains why nomination is not succession
  • Comprehensive treatment of HUFs, adoption, and family arrangements
• Taxation and Succession—CA. Yogesh Thar & CA. Ketki Mittal
  • Section-by-section walk-through of tax law as it applies to deceased persons, executors, beneficiaries, and trusts
  • Strategies for minimising tax, dealing with anti-avoidance provisions, and the pitfalls of improper structuring
  • International scenarios—how different jurisdictions treat Indian trusts and beneficiaries
• FEMA & Cross-Border Aspects—CA. Paresh P Shah
  • Practical guidance for NRIs, foreign trusts, and succession structures spanning India and abroad
  • Complexities in transfers between residents/non-residents, repatriation, gifts, inheritance, and regulatory filings
  • US/UK-specific analysis for grantor trusts, offshore estate planning, and recent RBI/ED trends
• SEBI, Stamp Duty & Company Law Aspects—Adv. Parul Jain & Adv. Ipsita Agarwalla
  • How trusts are treated under Indian securities laws—exemptions, disclosure requirements, and pitfalls in family business succession
  • Stepwise guide to complying with stamp duty, trust deed stamping, and legal transfer of assets into a trust

The structure of the book is as follows:

• Expert-led Chapters – Each chapter authored by a specialist with decades of practical experience, ensuring both accuracy and hands-on relevance
• Thematic Progression – Begins with fundamental principles, transitions into practical application, and ends with advanced compliance and dispute avoidance
• Practice-ready Tools – Embedded templates, checklists, and visual aids
• User-centric Indexing – The subject index and table of cases make quick referencing and cross-linking effortless

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