The traditional joint family system has been disintegrating into nuclear families. Now, the concept of nuclear family structure is also changing. Being child-free is a conscious choice, and there is an increase in the number of DINKs (double income, no kids) and SINKs (single income, no kids), with variations such as DINKWADs, SINKWADs, DINKWACs, SINKWACs … Read more
We are in a phase of economic evolution where social security for oneself and family is achieved and shaped largely by individual financial planning and efforts rather than as a community mechanism, although a small part may be facilitated by government-backed mechanisms like the Employees’ Provident Fund, which does not cover the entire population. It … Read more
Securing our family’s future is topmost priority for most of us. Alongside taking insurance policies and making investments, there is a crucial step in this—estate and succession planning to ensure our family inherits our assets without delays, hardship, or confusion. Yet, this aspect is often neglected due to the anxiety and discomfort arising from contemplating … Read more
Family charters, also known as family constitutions, serve as a fundamental document for governing family-owned businesses to ensure smooth succession across generations. These charters are crafted by promoter families to codify values, set guidelines, and provide a roadmap for future business continuity which can ultimately help in keeping family harmony. In this article, we will … Read more