Sovereign's Galway Says $1.5 Trillion India Succession Wave Stalls on Family Governance Gaps
Updated
Updated · Hubbis · Sep 2
Sovereign's Galway Says $1.5 Trillion India Succession Wave Stalls on Family Governance Gaps
3 articles · Updated · Hubbis · Sep 2
Summary
Galway told the Hubbis India Wealth Management Forum that Indian succession plans often stall even after trusts, foundations or family offices are set up because families still avoid decisions on control, conflict and founder exit.
Around $1.5 trillion is expected to pass between generations in India over the next decade, he said, making governance readiness more urgent than legal structuring alone.
Trustees and advisers can help by acting as neutral conveners for difficult family discussions that legal documents cannot settle, especially over power-sharing and dispute resolution.
A Singapore-based NRI family with relatives in the US and UK illustrated the problem: domestic Indian assets, GIFT City holdings and offshore wealth often sit across regimes no single adviser fully sees.
Galway urged closer coordination between offshore and domestic Indian advisers, arguing cohesive succession plans need governance that works across jurisdictions as well as on paper.