Tuesday, March 21, 2023

An 8-year-old girl meant to inherit a $61 million diamond business in India has renounced her fortune to become a nun

Estate planningDevanshi Sanghvi, an eight-year-old girl in India, made headlines earlier this year as she was initiated into monkhood under the Jain faith in a five-day ceremony. She is among the youngest to be inducted into the Jain monkhood and renounced the $61 million business she was slated to inherit from her family’s diamond business.

Jainism is one of the world’s oldest religions, originating in India, and emphasizes non-violence, meditation, and rejecting worldly pleasures. Some Jain families are said to encourage their children to become nuns or monks to raise the family’s social standing. It has been reported that upon initiation, nuns pluck out their own hair, walk barefoot, and only eat what they receive in alms. 

“Devanshi has chosen to live a life on the path of spiritual development,” read an Instagram post that appears to have been written by her parents. “We know it is tough, but we are aware that the Diksha life will bring far more happiness than we can ever provide.”

For more information see Matthew Loh “An 8-year-old girl meant to inherit a $61 million diamond business in India has renounced her fortune to become a nun” Yahoo! News, January 19, 2023.

Special thanks to David S. Luber (Florida Probate Attorney) for bringing this article to my attention.

https://lawprofessors.typepad.com/trusts_estates_prof/2023/03/an-8-year-old-girl-meant-to-inherit-a-61-million-diamond-business-in-india-has-renounced-her-fortune.html

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