India for NRI specializes in crafting estate planning solutions for Non-Resident Indians (NRIs), with deep understanding of both Indian and international legal frameworks, ensuring comprehensive and compliant trust establishment.
years of experied Estate Lawyers
Trusts Registered
Assets secured
Beneficiaries
Fill the questionaire for Trust
Fill the questionaire for trust formation
Consultation with lawyer
Consult with our expert lawyers and professionals for clear understanding
Decide Trustees / Rules of the Trust
Post a detailed discussion with our lawyers, we can begin the process of deciding the trustees and rules
Register Trust Deed
Once we have all the required details about trustees, beneficiaries, rules, etc, we will draft your Trust Deed and initiate the registration process.
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.
Cost of transfers
& compliances involved
Revocable
or irrevocable trust can be formed
Private document,
maintains privacy
Protected
from lender’s claim
Settlor, Trustee
and beneficiaries are parties involved in trust.
Income Tax
not applicable on transfer of assets to trust
Tax efficient
structure for inheritance planning
Stamp duty
applicable on transfer of assets to trust
Proabte
not required
Protection
from forced heirship
Well drafted
trust deed often cannot be challenged in court
Trustee
to be appointed for asset distribution
Flexibility to settlor
to control the assets till their life
FEMA/RBI rules
apply in case of Non resident trust
SEBI Approval
required for share transfers of listed company
| Will | Trust | |
|---|---|---|
| Legal document | Written document detailing how assets are distributed after death. |
Legal arrangement where settlor transfers assets to trust for the benefit of beneficiaries. |
| Takes effect | On death of testator |
Either during lifetime (living trust) or upon death (testamentary trust) |
| Privacy |
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| Execution | Exectutor appointed to carry out testators wishes |
Trustee appointed to manage the trust assets and carry out the instructions |
| Low cost |
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| Changes possible |
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yes, if revocable |
| Probate avoidance |
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| Manages estate if you become incapacitated |
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| Creditor protection |
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| Estate tax planning |
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| Requires Witnesses? |
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No (Witnesses may not be required, but advisable for certain types of trusts) |
| Can Distribute Assets Immediately? |
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| Guardianship | Can be desginated |
Can include provision for Minor care |
| Legal challenges | More susceptible |
Less suspectible |
| Court intervention ? |
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| Living Trust | Irrevocable Trust | Testamentary Trust | Special Purpose Trust | |
|---|---|---|---|---|
| Formation | During grantor's lifetime |
During grantor's lifetime |
Created through the grantor's will and effective upon death |
Created for specific purposes defined by the grantor |
| Effective Timing | Assets are transferred into the trust during the grantor's lifetime |
Assets are transferred into the trust during the grantor's lifetime |
Created upon the grantor's death as specified in their will |
Created for specific purposes defined by the grantor |
| Purpose | Estate planning, probate avoidance, asset management |
Asset protection, tax planning, wealth transfer |
Estate planning, asset distribution |
Tailored to achieve specific goals set by the grantor |
| Asset Protection | Limited protection from creditors during the grantor's lifetime |
Offers asset protection from creditors once assets are transferred into the trust |
Limited protection, as assets are subject to probate |
May offer asset protection depending on the purpose |
| Tax Implications | Generally does not impact tax treatment during grantor's lifetime |
May offer tax advantages such as estate tax reduction |
May impact estate taxes and income taxes |
May provide tax benefits depending on the purpose |
| Example | A revocable living trust established to manage assets during the grantor's lifetime |
An irrevocable trust set up to transfer wealth to future generations |
A testamentary trust created in a will to distribute assets to beneficiaries |
A trust created to fund education expenses for grandchildren |
| Established during the grantor's lifetime |
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| Can be modified or revoked by the grantor |
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Depends on the terms |
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| Requires court approval for changes |
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Depends on the terms |
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| Effective after grantor's death |
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| Bypasses probate |
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Depends on the terms |
| Offers asset protection | Limited |
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Limited |
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| Management of assets | Grantor retains control |
Trustee manages |
Trustee manages |
Depends on the terms |
| Can designate beneficiaries |
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| Offers privacy |
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Depends on the terms |
| Can hold specific assets |
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