New Delhi, Aug. 22 -- For India's ultra high net-worth families, succession planning has evolved well beyond the simple question of "who gets what." Today, the discussion centres on how wealth transfers take place, when beneficiaries gain access to assets, and what safeguards can secure multi-generational prosperity.

The traditional will, long considered the cornerstone of estate planning, is facing stiff competition from family trusts. This shift isn't just a matter of legal formality, it reflects the rising complexity of modern wealth and the sophisticated needs of today's wealthy families.

Why the traditional will is losing ground

Most people view a will as a straightforward document that governs asset distribution after death. But ...