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Family Trust Agreement
"I need a Family Trust Agreement to establish a trust for my family business assets, including three retail properties and a manufacturing company, with specific provisions for business succession planning and potential expansion by March 2025."
1. Parties: Identifies the Settlor, Trustee(s), and Appointor/Principal
2. Background: Sets out the context and intention to establish the trust
3. Definitions: Defines key terms used throughout the deed
4. Trust Establishment: Declares the creation of the trust and initial settlement
5. Trust Name and Duration: Specifies the name of the trust and its term/vesting date
6. Beneficiaries: Defines primary and general beneficiaries and their classes
7. Trustee Powers: Details the powers granted to trustees in managing trust assets
8. Investment Powers: Specifies permitted investment activities and limitations
9. Income and Capital Distribution: Rules for distributing trust income and capital
10. Trustee Duties and Responsibilities: Outlines trustee obligations and standard of care
11. Appointor Powers: Details the role and powers of the Appointor/Principal
12. Trustee Resignation and Appointment: Procedures for changing trustees
13. Amendment Provisions: Processes for modifying trust terms
14. Trust Administration: General administrative provisions and procedures
15. Governing Law: Specifies applicable jurisdiction and legislation
1. Foreign Beneficiary Provisions: Special provisions for handling foreign beneficiaries and international tax implications
2. Business Operation Provisions: Additional powers and procedures for when the trust operates a business
3. Minor Beneficiary Provisions: Special provisions for handling distributions to minor beneficiaries
4. Sub-Trust Provisions: Powers and procedures for creating and managing sub-trusts
5. Professional Practice Provisions: Specific provisions for professional practice income and assets
6. Property Development Provisions: Additional powers for property development activities
7. Charitable Giving Provisions: Framework for making charitable distributions
8. Corporate Trustee Provisions: Additional provisions specific to corporate trustees
9. Family Court Protection Measures: Enhanced provisions to protect against family court proceedings
10. Succession Planning Provisions: Detailed provisions for generational transfer of control
1. Schedule 1 - Initial Settlement Sum: Details of the initial settlement amount and settler
2. Schedule 2 - Primary Beneficiaries: List of specifically named primary beneficiaries
3. Schedule 3 - Excluded Beneficiaries: List of persons explicitly excluded as beneficiaries
4. Schedule 4 - Trust Assets: Register of assets held by the trust
5. Schedule 5 - Trustee Remuneration: Details of any agreed trustee remuneration
6. Appendix A - Execution Requirements: Formal requirements for executing trust documents
7. Appendix B - Meeting Procedures: Procedures for trustee meetings and decision-making
8. Appendix C - Distribution Minutes Template: Template for recording distribution decisions
9. Appendix D - Variation Power Examples: Examples of permitted trust deed variations
10. Appendix E - Compliance Checklist: Checklist for ongoing trust compliance requirements
Authors
Financial Services
Legal Services
Accounting
Real Estate
Agriculture
Professional Services
Family Business
Property Development
Investment Management
Wealth Management
Private Banking
Tax Advisory
Estate Planning
Legal
Finance
Wealth Management
Private Client Services
Tax Advisory
Estate Planning
Trust Administration
Risk & Compliance
Investment Management
Family Office Services
Trust Administrator
Family Office Manager
Estate Planning Lawyer
Tax Advisor
Wealth Manager
Financial Planner
Trust Accountant
Private Client Lawyer
Family Business Advisor
Succession Planning Consultant
Corporate Trustee
Property Manager
Investment Advisor
Risk Management Officer
Compliance Manager
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