Trusts Law Firm

Trusts Lawyers

A trust is a type of fiduciary relationship in which a party, known as the trustor, gives the other party, the trustee, a right to hold title in property or assets for the benefit of another third party, who is the ultimate ‘beneficiary’. Trusts ensure that assets are managed according to the wishes of the trustor and help save time, paperwork, and legalities. A trust can be used to maintain confidentiality of assets and their value. It has six broad categories – living, testamentary, funded, unfunded, revocable and irrevocable – thus, making it a flexible option. It is Effective in reducing taxation on capital and income, particularly for the beneficiary.

HOW WE MAY ASSIST YOU

ILO provides a tailored advice to clients on estate planning including preparation of a trust deed. As transfer by trusts are generally quicker and maintain confidentiality; this is often a key element for choosing trusts as families and businesses want to ensure privacy of their estates. This is where our lawyers play a key role. ILOs estate and trust lawyers ensure that there are no gaps present. With the right amount of expertise and efficiency, trusts can be effective in reducing taxation on capital and income, particularly for the beneficiary.

Many times, clients reside in one country but have substantial assets in other country. Our lawyers can advise on the legal implications that occur from cross-border trust deeds and their application. Our expert lawyers help in assisting and advising in drafting such deeds as per the statutory provisions of the applicable laws and in handling any disputes that may arise on disputed trusts. We can also help in partition of the property among the legal heirs upon the applicability of the deed. In case the owner has died without sufficient succession planning, our lawyers can help with solutions to for the same.

With our cross-border presence, we leverage our global network and cultural knowledge of our attorneys to advice in cases where assets or liabilities are across multiple jurisdiction ensuring minimum difficulties in the process. Certain costs, such as transfer of titles, legal compliances, and hiring an estate lawyer for legal formalities, are indispensable expenses when forming a trust and our team of expert lawyers can help you in efficient planning to reduce such costs. Trust deeds must confirm to the Indian Trusts Act, 1882 and the Indian Registrations Act, 1887.

Our lawyers can help in drafting special clauses and provisions that may be missed by you – thus, helping in avoiding future litigation and dispute and also assisting in the registration of trusts. With the right amount of experience, proficiency and command on the subject, our team aims to provide top-notch services to the clients.