When and how should you set up a TRUST

Trust is defined in section 3 of the Trust Act, 1882 as ” an obligation annexed to the ownership of property and arising out of a confidence reposed in and accepted by the owner, or declared and accepted by him, for the benefit of another or of another and the owner.

Whom Should you Appoint as Trustee of a Trust

One can use a trust to hand over the money to a successor when he/she is capable enough to handle it in parts/full. The trust can give the successor a little bit each year for some duration, and then a final lump sum at some age when the successor is capable enough to protect the money as if the person had actually earned it himself/herself.

What legal matters are to be considered before writing a Will?

According to the Indian Law, “Will is the legal declaration of a person’s intention which he wishes to be performed after his death and once the Will is made by the testator it can only be revoke during his lifetime.” A person cannot give his ancestors property in the form of a Will but he can make a Will only of his Self-Acquired property .

When and Why should you write a WILL

Any person who wants to distribute his/her properties/assets/wealth according to his/her wish needs to write a will to enable the same. This is also necessary to avoid succession disputes.

Protected: Documents Required – Transmission Or Redemption for Deceased Person Mutual_Fund,RBI,Mahindra Finance

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Is your WILL in place. What’s your excuse!

The real question is whether you have dependents and are these assets significant for them? If you do have dependents, then making sure that they have easy and unfettered access to your assets is critical. A Will in this situation becomes imperative.

The Importance of Making Wills

Would you like to distribute your financial and non financial assets to the person of your choice or just create trouble among the family members

Checks to be made on investing for smooth Transmission

Ensure the name is written in the application form as per the PAN and Know Your Client(KYC )details registered with Central Depository Services India Limited(CDSL)
Enter the date of birth details on the application form especially if you are filling details of investment in a minors name