As the nation continues to witness one of its largest intergenerational wealth transfers, a new study by 1 Finance Magazine has uncovered a significant gap in household financial planning, and the concern is that most Indians are working to build wealth but not planning how to pass it on seamlessly.
The study reveals that 84.8% of respondents do not have a will, and 62.5% have no plans to create one. The results of the study highlight a lack of conceptual clarity regarding financial planning and preparedness for inheritance, despite growing asset ownership.
Wealth creation without wealth transfer planning
As discussed in the study, estate planning remains largely absent and elusive from family financial discussions. About 46.7% of respondents have never discussed wills, inheritance planning or within their families, whereas only 21.8% have held detailed conversations on the subject. This metric highlights the absence of meaningful education among citizens.
Major outcomes of the report
|
Area |
Key Findings |
|---|---|
| Will ownership | 84.8% of respondents do not have a will |
| Will intent | 62.5% have no plans to make a will currently, making inaction the dominant position, not a transitional one |
| Estate planning conversations | 46.7% have never discussed wills or estate planning with family; only 21.8% have had detailed discussions |
| Inheritance paradox | 79.8% of those expecting to inherit do not have a will of their own, inheritance is perceived as a passive entitlement, not an active financial process |
| Dispute-driven will-making | Families with disputes are nearly twice as likely to have a will (54.1%) vs. families without (29.7%), conflict triggers planning, not the other way around |
| Dispute prevalence | 30.5% report some form of inheritance dispute, far higher than planning conversations assume; 7.3% report major disputes |
The findings also expose an inheritance paradox, a pattern that will require improvement in future years. Among those expecting to receive family wealth, 79.8% have not prepared a will of their own, suggesting inheritance is often viewed as a passive entitlement rather than an active . However, any inheritance not supported by a will can be challenged in court.
When conflict becomes the trigger for planning
The study challenges the common belief that wills prevent disputes. Instead, it finds that disputes often drive families toward estate planning.
Among families without inheritance disputes, only 29.7% have made or are planning a will. That figure jumps to over 50% among families that have already experienced inheritance-related disagreements.
Inheritance conflicts are more common than many assume. Nearly one in three households (30.5%) reported some form of dispute over assets, including 7.3% reporting major conflicts.
Commenting on the findings, Animesh Hardia of 1 Finance Magazine, said: “India is undergoing its first major intergenerational While families have built significant assets, the discipline of passing them on through structured estate planning is still evolving.”
Shraddha Nileshwar, Head – Will & Estate Planning, 1 Finance, added: “Many families realise the importance of a will only after an arises. By then, relationships may be strained and assets tied up. Estate planning should happen before conflict, not because of it.”
The study paints a concerning picture of India’s preparedness for inheritance. It also highlights the need to introduce basic personal finance concepts into school curricula.
Given that wealth creation has accelerated across households, estate diversification and will planning will continue to be largely neglected. With most families lacking wills around inheritance, the risk of future disputes, complications and psychological stress remains.
As the nation continues to build towards an era of unprecedented, these findings highlight a serious and pressing need for households to view estate planning more responsibly and holistically. It should not be taken merely as a legal formality or obligation, but rather as an essential pillar of economic prosperity and family togetherness.