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Declaration Of Bare Trust And Agency Agreement
"I need a Declaration of Bare Trust and Agency Agreement to set up a bare trust for my London property, with ABC Property Management Limited as the agent responsible for managing the property from 1 March 2025, ensuring all rental income goes directly to my children as beneficiaries."
1. Parties: Identifies trustee, beneficiary, and agent with full details
2. Background: Context and purpose of the bare trust and agency arrangement
3. Definitions: Key terms used throughout the document
4. Declaration of Trust: Formal declaration of bare trust over specified assets
5. Trust Property: Detailed description of assets held in trust
6. Agency Appointment: Terms of agent's appointment and scope of authority
7. Duties and Powers: Obligations and authorities of trustee and agent
8. Termination: Circumstances and process for ending the arrangements
1. Remuneration: Terms of payment for agent or trustee services - used when services are not provided gratuitously
2. Liability and Indemnity: Additional protection for trustees or agents - used when parties require specific risk allocation
3. Reporting Requirements: Specific reporting obligations - used for complex arrangements requiring regular updates
4. Tax Provisions: Specific tax treatment agreements - used when specific tax positions need to be documented
1. Schedule 1 - Trust Property: Detailed inventory of assets held in trust
2. Schedule 2 - Agent's Powers: Detailed list of agent's specific authorities
3. Schedule 3 - Fee Schedule: Detailed breakdown of any fees or charges (optional)
4. Schedule 4 - Reporting Template: Standard format for periodic reports (optional)
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