“प्रज्ञान”
Means of Wisdom
In the earlier Pragyaan we explained you about Will, in this part we will take you through Trusts
Timely succession & Estate Planning is a key to hassle free future for you and your Family
WHAT IS A TRUST
In simple words a Trust is a written arrangement whereby an appointed trustee is given money or assets to hold and manage for the benefit of those defined in the deed or will which created the trust.
WHO SHOULD SETUP A TRUST?

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WHAT CAN YOU ACHIEVE BY SETTING UP A TRUST |
- Making arrangements for your family, and distribution of assets at various stages and circumstances
- Making gifts – you can specify at what age and in what circumstances your intended beneficiaries can have them
- Protecting assets if you don’t wish the beneficiary to have full control of them
- Managing the assets without losing the control over them.
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ADVANTAGES OF A TRUST |
- Can be set up for benefits during and after lifetime. Provisions can be made for contingencies like incapacitation, critical illness etc.
- It is of an ambulatory nature i.e. can be modified or altered at any time
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DISADVANTAGES OF A TRUST |
- More complicated to draft than a will.
- A poorly drafted trust can be nearly impossible to execute
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You can also download “Pragyan – Means of wisdom – Series 3” in PDF format.
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