A person wishes that his property after his death be given to a memorial trust or a cancer hospital. As one potential approach, it would be advisable to identify a suitable existing NGO, charity or cancer hospital etc. Here, once this understanding is reached, the person can bequeath the property to the said entity in his Will with explicit instructions on how the property is to be used as identified. With careful structuring under the Will, the said charity or the like can be named as the beneficiary of the property, with instructions on how the same is to be used. The charitable trust can be set up during the person’s lifetime, and then the property left to the charity under his Will.

Source: Mint February 12, 2022 20:47 UTC