Selection Of Name - Step - 1
First thing is to select a unique name of your trust, the name should not violate or infringes someone else name or trademark.
Drafting Of Deed - Step - 2
The trust deed needs to be drafted wherein the parties to the deed shall be settlor (author of the trust deed), the trustee and the beneficiary.
Trust Registration - Step - 3
A trust deed is a document which requires mandatory registration before the registrar of the trusts having jurisdiction.
PAN, TAN And Bank A/C - Step - 4
After registration of the trust, the next step is to apply for allotment of PAN Number and TAN and thereafter opening of a bank A/c.
Indian Trusts Act, 1882 regulates and administers the private trusts in India, whereas the public trusts direct the functioning of public trusts except in the state of Maharashtra and Gujarat where public trusts are governed by Bombay Public Trusts Act, 1950.
There is no upper limit for the trustees in a trust, but a minimum of two trustees are always required for registration. The trust deed should have provision concerning the management of the trust along with the procedure of appointing or removing the members.