A arrangement created at the direction of an individual, in which one or more persons hold the individual's property subject to certain duties to use and protect it for the benefit of others.
An express trust is created when the settlor expresses an intention either orally or in writing to establish the trust and complies with the required formalities.
Why Draft Deed of private trust?
- To give a legal status to the trust.
- To keep as account of the role allotted to each trustees.
- To maintain account of number of trustee.
- To ascertain certain benefits of being a private trust.
- It keeps a firm account of the incoming and outgoing members of the trust.
- It helps to maintain a descent relationship between members
- It sets out goals of the trust.
- Sets out the role of each trustee in the daily working of the trust.
You need to keep in mind the following details
- Complete Name &address of the private trust.
- Complete Name &Address of the trustees.
- Goals to be achieved.
- Rules & Regulations to be followed.
- Date of registration.
Why The Legal Capsule?
Because we are efficient, correct and we look to achieve client satisfaction.