Most secure

Private Family Trust

Pricing on Case-to-case basis

A Family Trust / Private Trust is the most secure Succession Plan since it avoids Probate, and minimizes the risk of challenge from family members. Hence it is a very effective way of passing on your wealth across generations.

Family Trusts are legal arrangements in which the owner of wealth, known as the settlor, transfers his / her assets (property, investments, or cash) into a trust for the benefit of their family members / beneficiaries.

By placing assets into a Trust, the settlor gives up direct ownership but may retain control over how those assets are utilized and distributed. The beneficiaries of the trust can receive income generated by the trust's assets or even have access to the assets themselves, subject to the terms set by the settlor.

Features & benefits

A Trust is treated as a separate legal entity. By transferring assets to the trust, they are no longer considered personal assets and are shielded from potential creditors, lawsuits, and other risks.

Hence, for business owners, it is highly recommended to make a Family Trust so that business assets can be protected from creditors of the business

Obtaining a Probate of a Will when needed, is a very time and money consuming process. Assets held in a family trust do not go through the probate process, thereby saving your family a lot of hassles, delays and risks of challenge on the Will. This enables faster distribution of assets to beneficiaries and reduces the likelihood of disputes.

Family trusts can be used for efficient tax planning. They offer opportunities to minimize estate taxes (especially for NRIs), capitalize on tax exemptions, and potentially reduce capital gains tax liabilities. Properly structured trusts can help optimize tax efficiency for the family's wealth. In India there is no inheritance tax but if Govt levy such tax in future, whole of assets transferred from individual to Trust during lifetime does not attract inheritance tax on wealth

An individual can control use of his wealth even after death via Trust deed rules for up to 90yrs including when kids or family are yet to be matured enough to manage wealth or business empire. A family trust allows you to establish a framework for preserving family values and principles.

You can incorporate specific instructions and conditions in the trust to ensure that the assets are used for intended purposes and to support the family's long-term goals and values.

By clearly defining the distribution and management of assets through a trust, the likelihood of disputes and conflicts among family members can be reduced drastically. Unlike a Will, the chances of a Family Trust getting challenged in court are very very low and hence it provides a very secure Succession Plan for your family.

When you choose to go ahead with WillJini for creating a Private Family Trust, you get a dedicated senior lawyer who will be part of the entire advisory, consultation, Trust deed drafting and registration process. At WillJini, we have handled many Family Trust cases in the past 10yrs and are fully equiped to guide you through all kinds of dos, donts, complications and bottlenecks.

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How it works

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 wtih the stamp duty.

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A Family Trust is recommended for any of the following individuals - those who expect challenges on their Will, have a business, follow Muslim religion, are settled / have kids settled aborad, have a special kid(s), have matrimonial issues or want their wealth to be managed as per their wishes even after their demise

No, a Family Trust created during one's lifetime is in addition to a Will. One can gift/transfer a portion of his/her wealth to the Family Trust during their lifetime for the most secured succession, however for the remaining properties an individual needs to write a Will.

A Family Trust can be created during one's lifetime as a 'Living Trust' while one can also create a Trust to come into action post demise (via their Will) called as 'Testamentary Trust'

No, a Family Trust is a 'Private' Trust created with rules by aowner / settlor in a Trust Deed. It does not require any approval from Government or any regulator. It however requires registration of the Trust Deed at local Sub-Registrar Office as per settlor’s residence address.

Following assets can be gifted or transferred into a Family Trust - Immovable Properties that are not under loans, business ownership, all types of Financial Assets, all types of movable assets (including business ownerships, artifacts, vehicles), all types of Intellectual Property Rights, and all types of Digital assets

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