Hello,
My mother passed away very suddenly, leaving a totally dependent older brother. My sister and I are joint executors of her will, and it clearly states that all her property should be slowly used in monthly payments for his upkeep for his lifetime, and after his death, it will be split between my sister and I. In the U.S, in cases like these, we set up trust funds, irrevocable or revocable, and usually a judge is assigned.
Is there a trust fund concept in India? If so, how does one go about setting it up? My mother left a lot of fixed deposit accounts, which I assume would have to be withdrawn and invested in one source? Can someone please advise? I want to make sure my brother is protected for atleast 30 years (he is 50 right now).
Thanks
