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Can a trust be created through will without making trust deed
04-Jul-2023 (In Wills / Trusts Law)
Can I form/create trust through my Will, without having any Trust Deed?
A Trust is a relationship in which a person or entity holds a valid legal title to a certain property which is known as the Trust property, but is bound by a fiduciary duty to exercise that legal title for the benefit of any one or more individuals or group of individuals or organisations, who are known as the Beneficiaries. The Trust shall be always governed by the terms of the Written Trust agreement.
A Trust can be created by any person over 18 years of age and mentally sound and capable to understand.
To create a Trust these steps are to be followed:
1. Draft the Trust deed
2. Mention the name of the Settlor, the Trustees, the Beneficiaries without any mistakes
3. Clearly mention the details of the Trust property
4. Provide details of the object and purpose of the Trust. It should not be for unlawful purpose.
5. Signature of Settlor, Trustees and Witnesses at the appropriate places
6. Print on stamp paper of due value
7. Register the deed in a Sub-Registrar office paying registration charges.
A Trust can be created by any person over 18 years of age and mentally sound and capable to understand.
To create a Trust these steps are to be followed:
1. Draft the Trust deed
2. Mention the name of the Settlor, the Trustees, the Beneficiaries without any mistakes
3. Clearly mention the details of the Trust property
4. Provide details of the object and purpose of the Trust. It should not be for unlawful purpose.
5. Signature of Settlor, Trustees and Witnesses at the appropriate places
6. Print on stamp paper of due value
7. Register the deed in a Sub-Registrar office paying registration charges.
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Adv. Siddhant Sharma
Delhi | 500+ Answers
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