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Trust deed and rules relating to private revocable family trust
19-Nov-2024 (In Property Law)
1. Can trustees contribute finance regularly to 'private family trust" during the life of settlor?
2. Can trustees purchase property in the name of 'private family trust" during the life of settlor, if there is a clause inserted in trust deed (for purchase of property out of trust income)?
In order to answer your questions, a review of the trust documents would be required. It is not a common practice for the trustee to financially contribute regularly in the assets that are owned by the trust. However you may do you at your own discretion subject to provisions within your trust deed. With the purchase of the property, the trustee must also act in the best interest of the beneficiaries and not contrary to the trust deed.
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Adv. Zubin Kalchuri
Ahmednagar | 25+ Answers
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