The Outreach | 05/03/2022 09:14 PM | Click to read full article
If it is a self-acquired asset and one is the sole possessor of it, they have the complete right to gift it in their lifetime. This can be done by drawing up a gift deed. An alternative would be to form a Beneficiary Trust with explicit custody of the assets and with instructions to the advantage of the eventual beneficiary.
A Trust can, for example, be instructed to bear the living expenses of the beneficiary, or pay for her education, or marriage or transfer assets on the attainment of majority of age etc.