Signing, Storing, and Registering Your Trust in Delhi, India

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After you have completed the Valcus interview for your living trust, it is crucial to follow several important steps to ensure the validity and security of your trust. In addition to printing out and signing your trust document, you will need to have it notarized and consider registering it if desired. Here is information on signing, storing, and registering your trust in Delhi, India.

Before You Sign

Once you have printed out your trust document, take sufficient time to carefully read through it. Ensure that it accurately reflects your intentions and includes all the necessary details. Verify the following:

Property Inclusion: Confirm that all the properties you wish to include in the trust are listed appropriately.
Property Identification: Double-check and accurately record any account or serial numbers associated with the included properties.
Beneficiary Information: Verify that all intended beneficiaries are mentioned in the trust document, with their names spelled correctly and consistently.
Management Arrangements: Make suitable arrangements for the management of trust property that may be inherited by young beneficiaries.

If you need to make changes, return to the corresponding sections in the program, enter the new data, and print out an updated trust document.

Consulting a Lawyer

While it is not always necessary, it may be prudent to have an experienced estate planning lawyer review your trust document before signing it. We recommend seeking legal advice if:

You are uncertain about the legal implications of any aspect of the trust document.
You wish to make changes, even if they appear insignificant.
You prefer the reassurance of professional guidance.

The cost of having an estate planning attorney review your trust document is generally reasonable compared to the expense of starting the process from scratch.

Signing Your Trust Document in Front of a Notary

To ensure the validity of your living trust, you must sign the trust document. In Delhi, India, it is essential to sign the trust document in the presence of a notary public. Unlike a will, a living trust generally does not require witnesses during the signing process. However, notarization serves as evidence of the authenticity of your signature, which can be crucial in case of any challenges after your passing. Some institutions, such as stock brokerage houses, may also require notarization before transferring assets into your name as trustee.

Finding a notary public in Delhi is relatively straightforward. You can visit a bank, title or escrow company, real estate brokerage, or library. Alternatively, you can search online for "notary public" along with the name of your city.

Notarization is a simple process. You need to present evidence of your identity, sign the trust document in front of the notary, and have the notary sign, date, and affix a notarial seal on the document.

You must also sign the Property Schedules and Assignment of Property that accompany your trust document, indicating the transfer of specific personal property to the trust. These documents do not require notarization.

Making Copies

It is advisable to make copies of your trust document for various purposes, such as transferring specific types of property to yourself as a trustee. When presenting your trust document to brokers, banks, or other institutions, provide them with a photocopy of the original trust document that you signed and had notarized. Avoid simply printing and signing additional copies, as each copy you sign becomes a legally valid original. To prevent confusion, it is best not to have multiple duplicate original trust documents in circulation.

You should provide a copy of the trust document to any individuals appointed as custodians for trust property inherited by young beneficiaries. They may require it to demonstrate their authority in managing the property on behalf of the beneficiaries.

However, it is generally not recommended to distribute copies of the trust document to beneficiaries, as this can lead to outdated copies remaining in circulation if you later amend or revoke the trust.

Trust Registration in Delhi

In Delhi, trust registration is not a legal requirement for the administration of a living trust. Registering a trust primarily serves to establish the court's jurisdiction in case of any disputes related to the faith. However, even if you choose not to register your trust, the court still retains jurisdiction in the event of a lawsuit initiated by a dissatisfied relative or creditor. The only exception is if a court demands registration, and the trustee refuses, which may result in the trustee's removal.

Although trust registration is not mandatory in Delhi, if you decide to proceed with it, the trustee must file a statement with the local court where the trustee resides or keeps trust records. The statement should include the following details:

Name and address of the trustee.
Acknowledgment of trusteeship.
Name(s) of the grantor(s).
Name(s) of the original trustee(s).
Date of the trust document.

Please note that a trust can only be registered in one state at a time.

Storing the Trust Document

Store your original trust document in a secure location alongside other important papers such as your will or durable power of attorney. It is recommended to keep it in a fireproof box at your home or office. For extra security, you may consider storing it in a safe deposit box.

Ensure that your successor trustee or your spouse/partner (if you created the trust together) knows the whereabouts of the original trust document. They should be able to access it promptly following your passing. The new trustee will require a copy to carry out your instructions regarding the management and distribution of trust property. Familiarize your successor trustee with the information provided in the "After a Grantor Dies" section to guide them in fulfilling their duties.

Please note that digital copies of your trust document stored on a computer are not considered valid living trusts. The trust document must be printed out, signed, and notarized to establish a good trust.

It is essential to consult with a legal professional or seek advice from an estate planning lawyer to ensure compliance with the specific laws and regulations in Delhi, India, and to address any additional requirements or considerations regarding the signing, storing, and registering of your trust.