This book provides answers to the readers' primary questions about succession, i.e.
- Where to begin?
- The ways to implement
The sole purpose is to help the reader understand the basics of succession in a simplified manner. It will be helpful for professionals and business owners to understand the critical aspects of succession planning and create strategies for better business continuity planning.
The Present Publication is the 3rd Edition, authored by CA Ravi Mamodiya, with the following noteworthy features:
- [Five-Step Approach] to handle the wheel of succession to plan, manage and see the expectations
- [Technicalities explained in a Simple Manner] To avoid getting caught in the web of laws & rules, the author has presented the technicalities suited for a layperson, too
- [Diagrams, Charts, Case Studies & FAQs] are embedded in the book to help the reader to gain better insights on the topic
- [Summaries] Each chapter consists of key takeaways to revisit the learnings and remember the important points to solve the readers' doubts and provide clarity
- [Authors' Personal Experience] with different clients, including those faced amongst family, friends, and relatives, are included in the book to help the reader grasp the practicalities and realities of day-to-day life
- [Discussion on Estate Planning] which includes:
o Indian Succession Act
o Hindu Succession Act
o Shariat Law
o Private Trust and its Law, along with the applicability of the Income-tax Act in different situations
o Creation of HUF & its Taxation
- [Liquidity Management] This book covers the cruciality of liquidity management during the transition of generation and adoption of various exit strategies. It provides practically implementable tools to continue the legacy and clears out the basic queries through FAQs and checklists to help the reader summarize and understand the succession in the best possible ways
