Creating trust?


Hello Experts,

  My father wants to create a will for his 2 flats. We are 1 son and 1 daughter. Son is undergoing divorce. Our father doesn't want to take a chance that if he names the flat to his son's name then his wife may lay her claim on it during proceedings. He wants to create a trust who, after him, can decide what needs to be done for the flat. I have few queries related to this scenario:

1. Can he create a trust in this case?

2. Can he assign multiple trustees to this trust?

3. What powers will trustees have in regards to the sale transfer of the property?

4.  Can the trustees be restricted to transfer the flat to either son or daughter only in this case?

4. What are the things to be taken case while creating this kind of trust?

 
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Just on a lighter note I would like to tell your father that in case he does not want to give his property to his wife and he surely wants to distribute his proerty among his son and daughter then he should sell the desired property to them without taking any money but in the sale deed mention that he has taken such and such money for the property. As simple as that. (diffferent states may have their own laws related to such sales so do check local registry laws.)

Why does he want to take trouble of establishing a trut then get it registered and then handling various legal proceedidngs related to the trust ?

life is alredy too complicated every father should simplify things on his part as far as posible for his child.

 

 
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Nitin Kumar,

  Appreciate your lighter side of the things.

  Considering my father has to do it, can you please share your thoughts on the questions posed?

 

 

 
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Any more advice or suggestion?

 
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