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Trust
Nurturing Social Responsibility: Exploring the World of Trusts
Trust
Anyone can create a trust in India. The Indian Trust Act, 1882 (‘Act’) governs the private trusts established in India.
This Act is applicable to the whole of India. But, it does not apply to the Waqf, mutual relations of the members of an undivided family determined by any customary or personal law and religious or charitable endowments. Public Trusts in India are usually governed by state-specific legislation, such as The Maharashtra Public Trust Act, 1950
Unlocking Growth Potential with a Trust
Types of Trusts
01
Private Trusts
A private trust is for a closed group. In other words, the beneficiaries can be identified. Eg: A trust created for the relatives and friends of the author.
02
Public Trusts
A public trust is created for a large group, i.e. the public in large. Eg: Non-Profit NGO’s Charitable Institutions for the general public.
Why Choose Sandeep Nalla And CO. for Your Trust Formation
We delve into the essence of trusts, their significance in fostering social welfare, and how they serve as vehicles for charitable endeavors and societal progress
Parties in a Trust
Author/Settlor/Trustor/Donor (Mr X)
The person who wants to transfer his property and reposes confidence on another for the creation of the trust.
Trustee (Mr Y)
The person who accepts the confidence for the creation of the trust
Beneficiary (Mr X’s granddaughter)
The person who will benefit from the trust in the near future
Embracing the Trust
Take the First Step Toward Growth and Stability with Sandeep Nalla And CO