How do I create an educational trust in India?

How do I create an educational trust in India?

Documents Required for Educational Trust in India

1. Draft a Cover Letter.
2. Duly Drafted Memorandum of Association.
3. Appropriately Drafted Articles of Association.
4. Drafted Affidavit for President (Notarised)
5. Obtain NOC by the landlord and get Notarised.
6. Get the Authority letter with directives.

How do you create a deed of trust?

Requirement for registration of Trust Deed with the Local Registrar under the Indian Trusts Act, 1882:

1. Trust Deed on stamp paper of requisite value.
2. One passport size photograph & copy of the proof of identity of the settlor.
3. One passport size photograph & copy of the proof of identity of each of the two trustees.

How does an education trust work?

An educational trust specifies that trust funds are to be used for education. In the trust document, the grantor names a trustee and beneficiaries, and also states how trust money is to be used. If the trust becomes operational upon the grantor’s death, then the trust is funded when the grantor dies.

What is trust deed in India?

Trust deed is executed between the settlor and the trustees. Under trust deed, the settlor transfers the identifiable property to the trustees and makes it obligatory for the trustees to work and manage the trust as per the terms and conditions specified in the trust deed.

How do I get a 80G trust certificate?

Process of Obtaining 80G Registration

1. Registration Certificate.
2. MOA /Trust Deed.
3. NOC from the proprietor of the land where the registered office is situated.
4. Copy of the Pan Card of the Trust/Institution.
5. Copy of electricity bill, house tax receipt, or water bill.
6. Proof of welfare activities pursued.

What documents are needed to create a trust?

A trust declaration establishes ownership of property in trust for another.

• Trust Agreement. A trust agreement creates a trust by defining the parameters of the relationship.
• Trust Declaration. A declaration of trust can create a trust directly or indirectly.
• Will.
• Power of Attorney.

What is trust deed format?

NOW THIS DEED WITNESSETH and it is hereby declared as follows:- 1) The name of the Trust shall be __________________ (hereinafter referred to as the ‘Trust’). 2) The above said sum of Rs. 5,100/-(Rupees Five Thousand & One Hundred only) shall be the property of the Trust.

What are the components of trust deed?

Contents of Trust Deed

• Amount lend to the borrower.
• Details of the property.
• Name of the parties – borrower, lender, and the trustee.
• Date of the agreement and the maturity date.
• Requirements of the deed.
• Legal provisions to follow in case of the default.
• Late fees if any.
• Clauses for acceleration and alienation.

How do I start an educational trust fund?

1. Plan early.
2. Research 529 plans.
3. Consider taxable accounts.
4. Evaluate UGMAs and UTMAs if you are considering securities or real estate.
5. Research Coverdell Education Savings Accounts.
6. Consult a financial adviser.
7. Calculate how different college trust funds will affect your child’s ability to receive financial aid.

What type of trust is an education trust?

An Education Trust is an Irrevocable Trust designed specifically to pay for education expenses. Though there are many variations, an Education Trust typically requires that trust assets be applied only towards a beneficiary’s tuition.

What is 12 a certificate?

12A registration is a one-time registration which is granted by the Income Tax Department to trusts and other not for profit organisations. The purpose of the registration is to be exempted from the payment of income tax. 12A registration is generally applied for immediately after incorporation.