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Family Trust Agreement Template for Australia

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Key Requirements PROMPT example:

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."

Document background
The Family Trust Agreement is a foundational document used in Australian estate planning and wealth management to establish a discretionary trust structure for family assets. This document is essential when families seek to create a flexible vehicle for asset protection, tax-efficient distribution of wealth, and intergenerational transfer of assets. It's particularly relevant in Australia due to the country's specific trust law framework and tax treatment of family trusts. The agreement includes detailed provisions for trust administration, beneficiary rights, trustee powers, and investment guidelines, all tailored to comply with both federal and state-specific Australian legislation. It's commonly used by business owners, high-net-worth individuals, and families seeking to protect assets and create efficient wealth distribution mechanisms.
Suggested Sections

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

Optional Sections

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

Suggested Schedules

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

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions


















































Clauses































Relevant Industries

Financial Services

Legal Services

Accounting

Real Estate

Agriculture

Professional Services

Family Business

Property Development

Investment Management

Wealth Management

Private Banking

Tax Advisory

Estate Planning

Relevant Teams

Legal

Finance

Wealth Management

Private Client Services

Tax Advisory

Estate Planning

Trust Administration

Risk & Compliance

Investment Management

Family Office Services

Relevant Roles

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

Industries










Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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