New Delhi, June 4 -- 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.

As discussed in the study, estate planning remains largely absent and elusive from family financial discussions. About 46.7% of respondents have never discussed ...