WILL VS GIFT VS SETTLEMENT – CLARITY ON ESTATE PLANNING INSTRUMENTS

Published On: 03/06/2025

Practice Area: Tax, Private Client

Authors:

In a significant ruling, the Supreme Court in N.P. Saseendran has clarified and ruled on the legal distinctions between three key estate planning instruments: a Will, a gift, and a settlement. These distinctions are critical, as each carries distinct legal and tax implications. At a time when personal and family wealth in India is expanding rapidly—and the need for effective, dispute-free succession planning is more urgent than ever—this judgment offers valuable guidance on interpreting and drafting these instruments. In this Infoalert , INDUSLAW’s Lokesh Shah and Aarya Jha summarises and analyses the ruling of the Supreme Court.