The settlor, also called author of the trust, is the person who creates the trust and settles initial property or corpus into it.

A person capable of holding property can generally be a trustee. Where discretion is involved, competence to contract becomes important.

Yes. Family members can act as trustees if they are suitable, willing and capable of managing the trust property responsibly.

In many family trusts, a beneficiary may also be a trustee, but conflict-of-interest controls and deed clauses should be drafted carefully.

There is no one-size-fits-all number. Many family trusts use two or more trustees for continuity and better governance.

Yes. A minor can be a beneficiary, but benefit, payment and guardian-related clauses should be drafted carefully.

A trust deed is the main legal document that records the trust name, settlor, trustees, beneficiaries, property, powers, duties and distribution rules.

It should cover objective, trust property, beneficiaries, trustee powers, replacement, distribution, accounts, amendment, revocation, dispute handling and winding up.

It depends on whether the deed allows amendment and whether the trust is revocable or irrevocable. Amendment powers should be planned at drafting stage.

Yes, it can be drafted as revocable or irrevocable depending on family and tax objectives. Tax impact must be reviewed before deciding.

Yes, the deed should clearly state appointment, resignation, removal and replacement process for trustees.

For a private family trust, beneficiaries should be identifiable. The deed can also define classes of beneficiaries where appropriate.

Cash, securities, investments, movable assets and immovable property may be settled or transferred, subject to documentation, stamp duty and tax rules.

Yes, but immovable property transfer requires careful title review, stamp duty, registration and tax analysis.

Shares and investments may be held by a trust, subject to company documents, depository rules, tax treatment and compliance requirements.

It may be possible, but succession rights, family consent, title history and personal law issues must be reviewed before transfer.

Initial corpus is the property or amount settled by the settlor to create the trust. It can be small or substantial depending on the structure.

Yes, if the deed permits, further assets or contributions can be added to the trust later with proper records.

Registration is generally necessary where immovable property is transferred to the trust. For movable-only trusts, registration may not always be mandatory but is often advisable.

Trust deed registration is usually handled at the Sub-Registrar office based on property/location and applicable state registration rules.

Yes. Stamp duty depends on the state, nature of trust property and whether immovable property is transferred.

Yes, trust deeds are typically executed in the presence of witnesses. Sub-Registrar offices may also require physical presence and identity documents.

Drafting and preparation can be quick, but registration timing depends on document readiness, stamp duty, appointment availability and local office process.

Generally the registered trust deed is the key proof. It is not the same as a company Certificate of Incorporation.

Yes, a trust usually needs PAN for banking, tax filing and financial transactions.

If the trust has taxable income or filing obligation, an income-tax return may be required. The structure and income type should be reviewed.

Taxation depends on whether the trust is specific or discretionary, revocable or irrevocable, and the nature of income. Poor drafting can cause maximum marginal rate exposure.

No. A family trust is not automatically tax-free. It must be planned with income-tax rules in mind.

Yes, after deed execution/registration and PAN, a trust bank account can generally be opened subject to bank KYC requirements.

Yes. Proper accounts, asset records, trustee resolutions and beneficiary distributions should be maintained.

A will operates mainly after death, while a trust can manage assets during lifetime and after death. The right choice depends on control, assets and family goals.

Yes. Many families use both, with the will covering assets outside the trust and the trust managing planned assets.

A trust may reduce probate dependence for assets validly transferred to it, but this depends on asset type, title transfer and local law.

No. A family settlement records settlement of rights among family members, while a trust creates trustee-managed property for beneficiaries.

A trust is better for beneficiary and succession planning; a company/LLP may be better for active business or investment holding. Often a comparison is required.

It cannot guarantee no disputes, but a clear deed and governance structure can reduce ambiguity and conflict.

Using a generic deed without understanding assets, tax, beneficiaries, control and future disputes is the biggest mistake.

Yes. A discretionary or poorly drafted trust may face higher tax treatment. Tax clauses should be reviewed before execution.

No. Property transfer needs title, stamp duty, registration, capital gains and family consent review.

Yes. Overly broad trustee powers without safeguards can create misuse and dispute risk.

Yes. Beneficiary identity, benefit share, timing and conditions should be clearly drafted.

No. Trusts should be created for genuine succession, asset and beneficiary planning. Tax is only one part of the decision.