Document background
The Trustee Release And Indemnification Agreement is a crucial document used when a trustee seeks to retire, resign, or be discharged from their duties under Swiss law. It provides legal protection for trustees while ensuring proper transition of trust administration and accountability. This document becomes necessary in various scenarios, such as trustee retirement, replacement, or trust termination, and is particularly important given Switzerland's unique position as a civil law jurisdiction that has adopted the Hague Convention on Trusts. The agreement typically includes detailed provisions about the scope of release, indemnification terms, continuing obligations, and specific Swiss law compliance requirements. It serves to protect both the outgoing trustee and the trust's interests by clearly defining the parameters of release and ongoing responsibilities, while establishing mechanisms for addressing any future claims or disputes that may arise under Swiss jurisdiction.
