FORMATION OF TRUST
Any individual can make his own Trust for self and family in the accompanying way:
- Make a Private or Family Trust whenever during life for self and family. It isn’t Public or Charitable Trust.
- It doesn’t require any consent of law or any conventions with the Charity Commissioner office.
- Make a Private Trust for a particular reason – for Special Child or for Minor children or for a smooth business domain or for maturing Parents or Self
- Production of Trust after destruction by composing a Will and extension Draft Trust Deed
A family trust can be created by any person who can do a lawful contract for example over 18 years old, sound personality and not precluded because of any law.
Procedure for Creation of Family Trust in India
A. Draft Trust Deed according to wishes/guidelines and recipients
B. Choose Trustees
C. Register Trust with Registration specialists
D. Move resources for Trust with installment of required stamp obligation
E. For Trust by means of Will – draft Will and Trust Deed, joined draft Trust Deed with Will, sign Will according to Will necessities
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