Nagesh Prasad (chota puta kam) 23 August 2020

Creating private trust to protect property

Hi,

I am going through divorce. In order to protect my home, can I create a private revocable trust in my parents name and make myself as beneficiary so that wife don't ask for propperty or bring injuction to sell or alienate the property.

please advice

Thanks,

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1 Replies

Hemant Agarwal (ha21@rediffmail.com Mumbai : 9820174108) 23 August 2020

1. YES .... It is possible to register a Private Family Trust and all personal properties can be duly transferred to the Trust via proper Stamp Duty paid Registered Deed. This is will be required for Income Tax purposes. There are other various parameters involved in this.

2. Property in name of Trust CANNOT be claimed, in any manner whatsoever, for purposes of Alimony /Maintenance /whatever .... by individual persons.

Keep Smiling .... Hemant Agarwal
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