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Public trusts in India require to be registered with the respective state authority (if required). The following laws regulate trusts: Trusts Act, 1882.
To make your trust valid in California, you simply need to sign the trust document that's it! You don't need to have your document witnessed or notarized to make it valid.
An Inter Vivos Trust is one created by a living person for the benefit of another person. Also known as a living trust, this trust has a duration that is determined at the trust's creation and can entail the distribution of assets to the beneficiary during or after the trustor's lifetime.
Also known as a living trust, this trust has a duration that is determined at the trust's creation and can entail the distribution of assets to the beneficiary during or after the trustor's lifetime. A parent who sets up an education fund for a child's college education is an example of an Inter Vivos Trust.
A benefit of an inter-vivos trust is that it helps avoid probate or the legal process of distributing the owner's assets after his or her death. The trustor can also be the trustee in an inter-vivos trust during their lifetime or until a backup named in the trust is allowed to take over.
An irrevocable trust can protect your beneficiaries from having their inheritance taken from them through litigation, bankruptcy, creditors or divorce. Privacy. Irrevocable trusts are private documents and not subject to public record.
In California, a trust does not have to be recorded to be legal unless it holds title on real estate. If a trust does not hold title on real estate property, all assets held in the name of the trust are kept private.
Trusts aren't recorded anywhere, so you can't go to the County Recorder's office in the courthouse to ask to see a copy of the trust. However, if real estate is involved, the trust may be recorded in the local office of the county clerk.
In order to set up a living trust, you should first create a document stating your intention to create a trust, and name the people who you want to benefit from the trust. You should then create another document that states the property that you want to begin the creation of the trust with.
An irrevocable trust is a trust that cannot be revoked, the terms of the trust cannot be modified, and it cannot be terminated at your wish. This is really "what's done is done". However, in California if all the beneficiaries of the trust and the trustee agree, then the irrevocable trust can be revoked.