What is a Trust? 

 Benefits of Trust Registration: 

• Legality and Credibility: Registration grants legal recognition to your trust, fostering trust and transparency. 
• Tax Benefits: Registered trusts can enjoy tax exemptions on income used for charitable purposes (subject to conditions). 
• Succession Planning: A trust ensures smooth  (transfer) of assets to beneficiaries as per the deed. 
• Asset Protection: Trust assets are shielded from the personal debts of the settlor or trustees. 

Process of Trust Registration: 

1. Drafting the Trust Deed: A lawyer crafts a detailed document outlining the trust's purpose, beneficiaries, terms of management, and succession plan. 
2. Registration: The trust deed is presented to the Registrar of Assurances or Sub-registrar of the district along with required documents and fees. 
3. Verification: The registrar verifies the documents and may ask for clarifications. 
4. Registration Certificate: Upon successful verification, a registration certificate is issued, officially recognizing the trust. 

Drawbacks of Trust Registration

• Compliance Requirements: Registered trusts must adhere to certain accounting and filing norms. 
• Cost: Stamp duty on the trust deed and registration fees need to be factored in. 
• Limited Flexibility: Amending the trust deed after registration might involve legal complexities. 

Documents Required for Registration

• Trust deed on stamp paper with requisite stamp duty. 
• Identity and address proof of settlor, trustees, and witnesses.
• Passport-sized photographs of all aforementioned parties.
• Proof of corpus (property) to be held in trust. 

Eligibility for Trust Registration

• Minimum Two Trustees: At least two competent individuals are required. 
• Valid Trust Deed: The deed must comply with the Indian Trusts Act, 1882. 
• Lawful Objectives: The trust's purpose should be legal and for the benefit of beneficiaries. 

Checklist for Trust Registration: 

• Finalize the trust's purpose and beneficiaries. 
• Draft a comprehensive trust deed with a lawyer. 
• Arrange for identity and address proofs of all parties involved. 
• Gather documents related to the trust corpus. 
• Submit the application with the required fees to the registrar's office. 

Why Choose 24efiling for Trust Registration? 

24efiling streamlines your trust registration journey with: 

• Expert Assistance: Our legal partners guide you through the process and ensure compliance. 
• Hassle-Free Document Handling: We take care of document preparation and submission. 
• Time-Saving Efficiency: Our efficient system ensures swift registration. 
• Cost-Effective Solutions: We offer competitive fees for our services.