Family Trust: Is It the Right Choice for You?
Protect Your Wealth with a Family Trust
You want your wealth to go to your loved ones, not to the tax department or courtroom delays. That’s where a family trust comes in.
What is a Family Trust?
A family trust is a legal arrangement where assets are transferred to a trust and managed by a trustee for the benefit of family members. It helps in wealth preservation, tax planning, and smooth succession.
Key Benefits of a Family Trust?
- Asset Protection - Shields assets from creditors, lawsuits, or financial mismanagement.
- Tax Efficiency - Can help reduce tax liability through structured income distribution.
- Wealth Succession - Ensures assets are passed on smoothly without probate delays.
- Control & Flexibility - Allows you to set conditions on how and when beneficiaries receive assets.
- Avoids Family Disputes - Reduces conflicts over inheritance by legally defining asset distribution.
How Does a Family Trust Work?
- The Settlor (you) creates the trust.
- The Trustee (an individual or institution) manages the assets as per the trust deed.
- The Beneficiaries (your family members) receive benefits from the trust.
Who should create a Family Trust?
Ensures succession and business continuity
Ideal for managing diverse assets
Protects family wealth from claims
Under Sharia Law, a Will is not applicable
A trust secures your charitable legacy
Ensures long-term financial security
Shields assets from disputes and division
Enables smooth cross-border asset transfer
Difference between Will and Family Trust
| Aspect | Will Drafting | Family Trust |
|---|---|---|
| When It Works | After Death | Right away (during your lifetime and after) |
| Who Manages It | An executor distributes your assets after probate | A trustee (someone you choose) follows the rules you set |
| Legal Process | Goes through probate (court process) | Private and avoids court involvement |
| Protection | No direct protection | Shields assets from legal disputes, creditors, and misuse |
| Flexibility | Once made, changes require a new Will | You can change the terms as needed |
How we set up your trust
1
Consultation Call with our Lawyer
Discuss in detail with our lawyer about your requirements, wishes, assets and finalize on your Succession Plan.
2
Decide Trustees / Rules of the Trust
Post a detailed discussion with our lawyers, we can begin the process of deciding the trustees of your Private Trust and the rules of management for the same.
3
Register Trust Deed & get Pan card, Bank account
Once we have all the required details about trustees, beneficiaries, rules, etc, we will draft your Trust Deed and initiate the registration process. We will also help obtain a new PAN card, open a new bank account, etc.
4
Transfer Assets to the Trust
The final step would be to transfer your assets (partial/whole) to the Private Trust and register it along with the stamp duty.
Stay Connected.
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