A trust is a legal arrangement where a person (called the settlor) transfers assets to another person or group (called trustees) to manage them for the benefit of chosen beneficiaries. Trusts in India are governed by the Indian Trusts Act, 1882.

● Private Trust: Created for specific individuals or family members. ● Public / Charitable Trust: Created for the benefit of the public or a charitable cause. ● Revocable Trust: Can be changed or cancelled by the settlor during their lifetime. ● Irrevocable Trust: Cannot be changed once created, except in special legal situations.

Any competent adult settlor of sound mind can create a trust for lawful purposes, appointing trustees who are not minors or insolvent.​

Yes, trust registration is mandatory in India for Public charitable trusts to claim tax benefits (like Sections 12A/12AB & 80G) and for any trust involving immovable propertyto be legally valid against third parties. However, Private trusts without immovable assets can function without registration but lack enforceability and benefits, making registration highly advisable for all types.

Draft a trust deed, execute on stamp paper, present to Sub-Registrar with ID proofs of trustees, pay fees, and obtain certificate within 15-30 days.

Trustees hold and manage assets fiduciary-style, investing prudently, filing taxes, and distributing as per deed terms.​

Specific individuals/families for private trusts or public at large for charitable ones. Even minors can be beneficiaries under a trust.

Yes, via deed provisions for appointment/removal, requiring meetings and documentation for smooth transitions.​

Revocable trusts can be revoked by settlor anytime. However, irrevocable trusts can only be revoked by Court if terms allow or circumstances change.​

If trustees do not follow the trust rules, trustees can be removed as by the trust deed or beneficiaries can approach the court. Trustees may be removed or held legally responsible for misuse or mismanagement of trust assets.

A will comes into effect only after a person’s death, while a trust can be used during the person’s lifetime and after. A trust helps in managing assets smoothly and avoids delays or disputes during distribution.

A trust remains valid for the period mentioned in the trust deed or until its purpose is fulfilled, subject to applicable laws.

No, beneficiaries receive benefits as per the trust deed but do not directly control the trust assets. Asset management is the responsibility of the trustees.

Yes, trust income may be taxable depending on the type of trust and how the income is distributed. Proper tax planning and compliance are important.

Yes, a trust is ideal for minors, as trustees can manage and distribute funds for the child’s education, healthcare, and other needs until they reach a specified age.