New Delhi, April 20 -- The number of ultra-high-net-worth individuals (UHNIs)-people with a net worth of more than $30 million-is expected to rise by 58.4% from 12,069 in 2022 to 19,119 in 2027 as India's economy expands. Nearly three individuals join India's UHNI club every day as startups go public.

With these numbers, India stands at the precipice of its largest intergenerational wealth transfer. Over the coming decades, trillions of rupees will shift hands as family businesses, assets, and investments transition from the first-generation wealth creators to their heirs.

Yet, despite this seismic economic shift, most wealthy Indian families remain woefully unprepared. The absence of structured estate plans, formalized succession strat...