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All you need to know about Private Trusts Part 2 | CA Yogesh Katariya

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In this continuation of our series on private trusts, CA Yogesh Katariya delves deeper into the topic, providing valuable insights and information that can help you understand the nuances of creating and managing a private trust.

The video begins with a discussion of the different types of private trusts available, including discretionary trusts, fixed trusts, revocable trusts, and irrevocable trusts. Each type has its own unique features and benefits, so it is essential to choose the right one based on your specific needs and goals.

As the video progresses, we explore the life of a private trust, covering topics such as creation, management, distribution, and termination. Understanding the various stages of a trust's lifecycle can help ensure that it remains effective and relevant over time.

Another crucial aspect covered in the video is the cost involved in creating a private trust. Factors such as legal fees, registration charges, and ongoing administrative expenses are discussed, giving viewers a clear picture of the financial commitment required.

When contemplating a private trust, one common question is who should form one? The video answers this question by examining the motivations and circumstances that might lead someone to create a trust, as well as the potential benefits and drawbacks of doing so.

Lastly, the video covers taxation an important consideration for any trust. By understanding the tax implications of a trust, viewers can make informed decisions about whether or not to set one up.

00:00 Start
00:26 Types of Private Trust
05:16 Life of a Private Trust
10:06 Cost involved in Creation of Private Trust
14:28 Who should form a Private Trust?
17:46 Taxation

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