Family Trust Deed

DEED OF PRIVATE FAMILY TRUST This DEED OF TRUST is executed on [execution_date] by [settlor_name], residing at [settlor_address] (hereinafter "the Settlor"), in favour of the trustees named below. WHEREAS the Settlor is desirous of creating a private trust for the benefit of the beneficiaries named herein, and of settling upon it the property described below; AND WHEREAS the trustees have consented to act as such; NOW THIS DEED WITNESSETH AS FOLLOWS: 1. NAME AND DECLARATION 1.1 The trust hereby created shall be known as "[trust_name]" (the "Trust"). 1.2 The Settlor hereby transfers and settles the property described in Clause 3 upon the trustees, TO HOLD the same upon the trusts and for the purposes declared in this Deed. 2. TRUSTEES The following persons are appointed as the first trustees of the Trust: [trustee_details] 3. TRUST PROPERTY [trust_property] The Settlor confirms that the said property is owned by the Settlor absolutely, is free from encumbrance, and is transferred to the Trust irrevocably. 4. BENEFICIARIES [beneficiary_details] 5. OBJECTS OF THE TRUST [trust_objects] 6. POWERS OF THE TRUSTEES The trustees shall have power to: 6.1 hold, manage, invest and reinvest the trust property; 6.2 open and operate bank accounts in the name of the Trust; 6.3 let, lease or otherwise deal with immovable property forming part of the trust fund; 6.4 apply the income, and where the Deed permits the corpus, for the benefit of the beneficiaries in accordance with their entitlements; 6.5 appoint and remunerate professional advisers, and pay the expenses of administration out of the trust fund; 6.6 do all such acts as are reasonably necessary for the proper administration of the Trust. 7. DUTIES OF THE TRUSTEES The trustees shall act in good faith and in the interests of the beneficiaries; exercise the care an ordinarily prudent person would exercise in respect of their own property; keep the trust property separate from their own; maintain proper books of account; and not derive any personal profit from the trust property, in accordance with the Indian Trusts Act, 1882. 8. ACCOUNTS AND AUDIT The trustees shall maintain true accounts of the trust property, income and expenditure, and shall make them available for inspection by any beneficiary on reasonable notice. 9. SUCCESSION OF TRUSTEES On the death, resignation or incapacity of a trustee, the continuing trustees shall appoint a successor in writing. The Trust shall not fail for want of a trustee. 10. DURATION The Trust shall continue for [trust_duration_years] years, or until its objects are fully accomplished, whereupon the trustees shall distribute the remaining trust fund among the beneficiaries in accordance with their entitlements. 11. IRREVOCABILITY This Trust is irrevocable. The Settlor retains no power to revoke it, nor any beneficial interest in the trust property, save to the extent expressly stated in this Deed. 12. GOVERNING LAW This Trust is governed by the Indian Trusts Act, 1882 and by the laws of India. IN WITNESS WHEREOF the Settlor has executed this Deed, and the trustees have signified their acceptance, on the date first written above. SETTLOR TRUSTEES [settlor_name] [trustee_details] WITNESSES 1. Name: ______________________ Signature: ______________ 2. Name: ______________________ Signature: ______________ NOTES - A trust of immovable property must be created by a registered instrument under Section 5 of the Indian Trusts Act, 1882. Stamp duty is levied by the State concerned and varies; confirm the applicable rate locally. - The tax treatment of a private trust depends on whether it is specific or discretionary, and on the terms of the deed. Take professional tax advice before settling substantial assets. - Where any beneficiary is a minor, the deed should state clearly how income is to be accumulated or applied during minority.