Divorce in the air, marriages for the rich built on ‘trust’
‘Private Family Optional Confidence’ is such a redesigned arrangement to meet this need.
A Delhi -based garment exporter supports his son’s marriage very soon, “Thanks to the trust we set up before the wedding, the business interest and the family house remained without touching.” He said.
Similarly, a leading jeweler in Mumbai called his son as beneficial by placing all real estate assets in an optional confidence. When the son filed a divorce case, his wife could not claim any claims about the properties he once thought would have a common. “As a definition, a trust maintains the attention of the beneficiaries through the Board of Trustees,” he said. Dutta, “the debtor’s financial obligations for the lenders in the default, the debtor is one of the trustees and at the same time one of the beneficiaries, although the beings in the confidence can not be added by the lender,” he said.
The tendency, which was once limited to ultra -net valuable individuals in India, spreads to the upper middle class as people try to protect their earnings and save the family from the case, especially in case of divorce.
Trust also protects women. According to a lawyer, a woman, who often had to deal with her husband’s unreasonable demand for financial support, was able to protect her financial assets as she was safe for her father’s daughter and children. According to law experts, this regulation is also adopted by traditional, business -oriented families who want to protect their businesses.
Protective sons, side -step prejudice
Ashvin Chopra, Head of Family Office Solutions in Avendus Asset Management, is that many families create confidence to protect men from financial exposure after marriage, and not even more in the same caste and religion.
CUSTOMERIALS STRUCTURED CONFIDENTIALS Allows families to have no technical assets of the boy and make it only a benefit, thus reducing the scope of a claim in the event of divorce.
“Indian parents want to have a family of family, to protect hereditary fortune and want to maintain the risks of future perceived disintegration,” he said.
Experts said that confidence actions are now prepared by keeping the potential divorce in mind-a change of traditional heritage-oriented intentions. In some recent high -profile divorces, decisions have changed to a great extent since there was not a clear legislative framework like a prenup to guide settlements. “After the divorce agreement, a family business was reduced to almost half. If assets had been placed in properly prepared optional confidence, they would go out of legal access.”
A Mumbai -based real estate planner talked about a rich retired bureaucrat from Delhi, who learned that his son wanted to divorce with a girl.
There is also a future angle in this tendency to trust.
