Service Details:
| Minimum Order Quantity | 1 Day |
| Type Of Financial Planning | Investment |
| Location | Mumbai |
| Benefits | Safety of Money |
| Payment Mode | Online |
A private or Family trust is established for the advantage of a person’s family members, relatives, friends etc. and are enforceable by the beneficiaries. The formation of private trusts gives the transactions a legal form. It ensures that assets or properties are employed just for the benefit of appointed beneficiaries, and the trustee needs it to be handled within the approach.
Prime benefit of setting up private trust and family trust is wealth protection, family succession planning and asset transfer for the benefit of family members both during after the settler’s lifetime.
A Trust can also be created by a WILL where the estate is transferred to a Private Trust settled for the benefit of the family members. The transfer so contemplated under WILL is not taxable u/s 56(2)(x) of the Income tax Act in view of the exceptions.
