Families in India have long relied on disciplined financial habits to build wealth—opening bank accounts, buying insurance and investing in equities and mutual funds. These savings are carefully planned with the future in mind: funding children’s education, preparing for emergencies, and ensuring financial security in old age.
The wealth is also intended to be passed down through generations. But, a significant portion of it can end up unclaimed because of a range of factors—documentation errors, relocation, absence of nominations, or lack of awareness among legal heirs. The scale of unclaimed wealth in India is substantial—approximately Rs78,000 crore in bank deposits, Rs14,000 crore in insurance payouts, Rs9,000 crore in dividends and Rs3,000 crore in mutual funds.
Studies suggest that nearly 70 per cent of wealthy families lose a significant portion of their wealth by the second generation, and as much as 90 per cent by the third. This highlights the urgent need for timely will creation and structured inheritance planning—not only for the wealthy, but also for middle-class households. Without a will, even modest savings—such as Rs5 lakh in a bank account—may fail to reach spouses or children, leaving families vulnerable and financially strained.
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Monika Taparia of AasaanWill, a succession planning platform, said creating a will should not be seen as an activity reserved for old age. “The moment you start earning, you should consider writing a will. And, if you have minor children, it becomes even more important,” she said.
Attitudes toward inheritance planning in India are evolving. Five years ago, Taparia said, discussions around wills, trusts, or gift deeds were often considered taboo and associated with death. Today, awareness campaigns, seminars, and outreach initiatives targeting women, seniors, young parents, entrepreneurs and professionals have helped shift this perception. “Wills are no longer secret documents—they are part of open conversations,” Taparia said.