According to Indian Trust Act, a trust may be formed for a range of purposes such as Public Charitable Trust & Religious Trust. A Charitable Trust is created for the purpose of the benefit of the general public or mankind. This kind of trust can be formed by an individual who loves doing such things and not a minor. Any person who holds the property so dedicated shall hold it under trust and shall execute the purposes specified by the settler.
A public charitable trust is usually floated when there is property involved, especially in terms of land and building. The main instrument of any public charitable trust is the trust deed, wherein the aims and objects and mode of management (of the trust) should be enshrined. A trust needs a minimum of two trustees; there is no upper limit to the number of trustees. The Board of Management comprises the trustees. The Objects are Social benefits & Charitable etc.
Moneyम्जी helps you set up a trust in the most feasible and effective way. We help you take approval on all mandatory legal obligations and carry out all necessary paper work feasibly.