Legal Question in Wills and Trusts in India

Hello, I live in the US and am looking to setup a living family trust in USA and register all my assets under the trust with my wife. My father, who lives in India, owns assets in India (stock, mutual funds, house). He is planning to immigrate to the US. I have been advised that my father's Indian assets should be put into a US trust before he immigrates, to avoid the high US estate taxes. Is it possible to put Indian assets into a US trust? If not, then the other option may be to create an Indian trust and indicate in the US trust that the US trust owns the Indian trust. How easy is it to create an Indian trust and transfer all the assets to that trust. Can the house, stocks and mutual funds in India be in the name of the Indian trust? How much time does it typically take to form the trust? Can my father be the trustee of the trust and I the beneficiary?

Additionally, what is repartriation amount allowed by RBI for inheritance? Is it $1M per year?


Asked on 8/25/10, 5:34 pm

1 Answer from Attorneys
Vishwa Arya Arya & Co.

you have not stated your status whether you are Indian Passport holder or US passport holder?

Be that as it may, Indian trust may be created by writing the Trust Deed with its terms qua the trustees and beneficiaries and the same may be registered. The process may be completed in ten working days

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Answered on 8/26/10, 10:03 am


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