Simply stated, a Private Trust is an advanced arrangement that could be set up during one’s life to enable implementation of one’s succession during his lifetime itself, to be affected post lifetime.
A Trust is an evolved tool that ensures flexibility in planning, thereby ensuring transition in an uninterrupted fashion.
In several instances, Trusts in India and globally have been used for multi-generational preservation of wealth and legacy and continuity amongst several other benefits.
With the economic environment becoming increasingly dynamic, many business families and professionals prefer trust structures not only to segregate business and personal wealth, but also to ring fence, or insulate structures from future unforeseen liabilities.
Whenever a Trust formation is looked at, a few considerations need to be borne in mind such as objectives sought to be achieved, entire wealth and asset class, beneficiaries, jurisdictions involved and cross-border aspects.
All these considerations have a bearing on the structure of a trust and could have far reaching future implications. Metasis Legal has a team of highly experienced members with core expertise in setting up and structuring Trusts as well as providing ongoing fiduciary consulting for it.