We are always concerned about well-being of our loved ones. This becomes more imperative when such people are not in a position to look after themselves like old parents, minor children and persons with disabilities. A trust is one such method of making provision for care and support of our loved ones. Trust is a transfer of property form one person to another person for benefit of a third person. Both, movable and immovable property can be a subject matter of the trust. A trust can be created for any lawful purpose. A private trust is one, which is created for benefit of an individual or group of individuals. The person who creates the trust is called Author/Settlor. The person to whom property is transferred for administration is called Trustee and the person for whose benefit the property is transferred is called beneficiary. Below are some of the common instances where a private trust is created - ✔ For benefit of old parents ✔ For benefit of minor