An obligation annexed to the ownership of property, and arising out of a confidence reposed in and accepted by the owner, or declared and accepted by him, for the benefit of another, or of another and the owner.

A contract between two or more persons, whereby one person transfers property to another person, who agrees to hold the property for the benefit of the first person.

A legal relationship in which one person holds property for the benefit of another person.

A gift of property from one person to another.

Any person who is competent to contract.

Only a person who is over the age of 18.

Only a person who is of sound mind.

Only a person who is a citizen of India.

A settlor, a trustee, a beneficiary, and a trust property.

A settlor, a trustee, and a trust property.

A settlor and a beneficiary.

A trustee and a beneficiary.

To act in the best interests of the beneficiaries.

To preserve the trust property.

To invest the trust property prudently.

To distribute the trust property to the beneficiaries according to the terms of the trust.

All of the above.

To receive the benefits of the trust.

To enforce the terms of the trust.

To remove the trustee.

All of the above.

A rule that states that no interest in land can be created that will vest more than 21 years after the death of the settlor.

A rule that states that no interest in land can be created that will vest more than 100 years after the creation of the trust.

A rule that states that no interest in land can be created that will vest more than 500 years after the creation of the trust.

A rule that states that no interest in land can be created that will vest more than 1,000 years after the creation of the trust.

A doctrine that allows a court to modify the terms of a trust if the original purpose of the trust has become impossible or impractical.

A doctrine that allows a court to remove a trustee if the trustee is unable or unwilling to perform his or her duties.

A doctrine that allows a court to distribute the trust property to the beneficiaries before the termination of the trust.

A doctrine that allows a court to create a new trust if the original trust is void.

A trust is created during the lifetime of the settlor, while a will is created after the death of the testator.

A trust is created for the benefit of a specific person or group of persons, while a will is created for the benefit of the testator's heirs.

A trust is governed by the Trusts Act, 1882, while a will is governed by the Indian Succession Act, 1925.

All of the above.

Tax benefits.

Asset protection.

Estate planning.

Privacy.

All of the above.

Cost.

Complexity.

Loss of control.

All of the above.

When you have a large estate.

When you have minor children.

When you want to protect your assets from creditors.

When you want to avoid probate.

All of the above.

You must have a written trust deed.

You must have a trustee.

You must have a beneficiary.

You must have a trust property.

All of the above.

Revocable trusts.

Irrevocable trusts.

Testamentary trusts.

Living trusts.

All of the above.

A public trust is created for the benefit of the general public, while a private trust is created for the benefit of a specific person or group of persons.

A public trust is governed by the government, while a private trust is governed by the trustee.

A public trust is irrevocable, while a private trust is revocable.

All of the above.

A trust is created for the benefit of a specific person or group of persons, while a foundation is created for the benefit of the general public.

A trust is governed by the trustee, while a foundation is governed by a board of directors.

A trust is irrevocable, while a foundation is revocable.

All of the above.