Procedure to appoint trustee

Reshma Kirtane (Querist) 06 May 2017 This query is : Resolved
Hi, I would like to appoint trustee in India who look after all my finances and provide certain amount to my parents. I live in Australia and my parents are old, they are not capable of handling finance. I want someone who make sure they are getting sufficient money for their day-to-day expenses and keep track of expenses. please advise. Thanks.

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kavksatyanarayana (Expert) 06 May 2017
Under Indian Trust Act, a settler can create a family trust with personal property, appoint one or more trustees and lay down the terms and conditions for the benefits of your parents.

Ms.Usha Kapoor (Expert) 07 May 2017
Agree with expert kavaksatyanarayana. .

Dr J C Vashista (Expert) 07 May 2017
Consult and engage a local lawyer for proper drafting, presentation and registration of Trust deed in accordance with legal formalities.

R.K Nanda (Expert) 07 May 2017
agree with experts.

Rajendra K Goyal (Expert) 08 May 2017
Agree with the expert Dr J C Vashista.

Dr J C Vashista (Expert) 09 May 2017
Thank you Goyal ji for agreeing.

krishna mohan (Expert) 15 May 2017
I agree with the opinion of Mr.Satyanarayana with the advise of legal expert to make it fool proof as your finances are to be handled by your trustee!

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