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June 2025

Trust Under A Will

By Dr Anup P. Shah,Chartered Accountant
Reading Time 11 mins

INTRODUCTION

Several readers would be aware of the concept of a Will. It is the last wish / desire of a person and takes effect once the person making the Will dies. Many readers would also be familiar with the concept of a Trust.

A trust is defined under the Indian Trusts Act, 1882 as 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 Trust Deed is the deed executed between the settlor and the trustees which lays down the constitution of the trust. It is the charter of incorporation of the trust which defines the beneficiaries and the settlor. It also lays down the rights and duties of the trustees in relation to the beneficiaries. In Superintendent of Stamps and Chief Controlling Revenue Authority vs. Govind Farmeshwar Nair, AIR 1967 Bom 369, a Full Bench of the Bombay High Court ruled:

“When a man creates a trust and constitutes himself a trustee,

he undoubtedly disposes of his property though he is not transferring it.”

However, what if the Trust is a Trust under a Will? This combines the salient features of both a Will and a Trust. The

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