Agreement Living Trust For Minor Child
Description
How to fill out Charitable Remainder Inter Vivos Unitrust Agreement?
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FAQ
Incentive trusts are becoming a popular choice for parents of young children that want their children to achieve certain goals in life. Incentive trusts provide parents with the flexibility to set goals and appropriate rewards through distributions once a child reaches the goal.
Consider a lifetime trust. First, if you give your children the right to withdraw trust money, it becomes their own money and is subject to their creditors as well as their divorcing spouse. Keeping the monies in trust for the child's lifetime will provide better liability protection.
If a trust is to be created by on or behalf of a minor, then the permission of a Principal Civil Court of original jurisdiction is required.
Also, the concept of setting up a trust is not limited to an affluent individual. You can even set up a trust with as much as Rs 10,000, Mr Jhaveri adds. A will doesn???t necessarily mean a huge legacy.
How it works Consultation Call with our Lawyer. Discuss in detail with our lawyer about your requirements, wishes, assets and finalize on your Succession Plan. Decide Trustees / Rules of the Trust. ... Register Trust Deed & get Pan card, Bank account. ... Transfer Assets to the Trust.