Purpose of creating a Trust
Purpose of creating a Trust Trusts are generally formed or created to fulfil any or more of the following objectives:
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Liabilities of Trustee
Liabilities of Trustee 1. Liability for breach of trust (Section.23) Breach of trust means a breach of any duty imposed on a trustee, by any law for the time being in force. It includes the violation of any direction given…
Duties of Trustee
Duties of Trustee (Section 11 to 22) The Trusts Act has enumerated the duties of the Trustees as follows- To execute the trust: The primary duty of the trustee is to fulfil the ‘purpose’ of the trust and to obey…
Essentials of a Valid Trust
Essentials of a Valid Trust The essentials of a valid trust are: Lawful purpose: A trust may be created for any lawful purpose: otherwise the trust is void. Where the objects are mixed up and one is legal and the…
Benefits of Creating a Trust
Benefits of Creating a Trust There are many benefits of creating a trust. Some of the most significant ones are- 1. Creation of trust helps in better planning of tax as the author is no more taxed over the trust…
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