Bridging assets one generation to another

There are hundreds of Sikh success sto ries emanating from UK. But of late, many Sikh families have found themselves in a fix after the head of the family passed away without making a will or without announcing a lawful heir.This has led to family feuds and often culminated in government intervention. Many times this has also resulted in freezing of funds or a good portion of assets going to a third party, away from the immediate family members.
“It is a major problem here.People in our community do not like to talk about or plan for death, it is a taboo subject. The older generation thinks that preparing a will is going to make them die quick er. Or they think everything will automatically go to their son. However, this isn't the case at all,“ said Rajwinder Singh Rainu (33), founded Sikh Wills, around three-and-a-half years back, to help NRI Sikh families write their wills and do estate planning well in time.
“I spread the message of plan ning for death and protecting as sets through so cial media and re ferrals. I have a target of helping 500,000 Sikh families in the UK, so from next year I will be recruit ing consultants across the nation to help us achieve this gigantic target,“ said Rainu.
Rainu, who was born in a small town Royal Leamington Spa in Warwickshire county of England, traces his roots to Amritsar. His father was born in Kenya and moved to Amritsar when he was five-year-old while his mother was born in Amritsar.
“I love going back to India and visiting Punjab and New Delhi. I have been to India 19 times and plan to take my whole family there in a few years,“ he said.
Rainu said that a major reason why Punjabis are not making wills is because they don't know from where to start. They are also not comfortable with the language and the expense involved, he pointed out.
“I know from first-hand experience how not making a will can tear families apart, so we set up Sikh Wills to prevent this from happening. We get a lot of people contacting us when a loved one has died intestate (without a will) and by then it can get complicated and that's when family feuds start,“ said Rainu.
Explaining how Sikh Wills is helping the Punjabi community, Rainu added, “We eliminate legal jargons and explain the process in Punjabi or Hindi. We understand some clients don't have a lot of money, but can see the value in what we offer.So, we have decided that clients have the option to pay in installments.“