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FAQ's on Private Trust

To create a private trust, a written non-testamentary instrument must be used. This instrument must be signed either by the author of the trust or the trustee, and it must be registered to be considered valid.
A private trust is established to benefit one or more individuals who are either already identified or will be identified within a certain time frame. If the trust is created for the benefit of family members, friends, or other specific individuals, it is classified as a private trust.
The beneficiary of a private trust includes the family members, relatives, friends, etc.

A trust ceases to exist:

  • When the purpose of the trust is completely fulfilled; or
  • When the trust indulges in unlawful activities or
  • When the trust has been expressly revoked.
Any person, who is a major or minor, not legally insane, insolvent, may establish a trust. However, permission from a court is required for a minor to create a trust.

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