Simple Trust Agreement

Simple Trust Agreement Template for Hong Kong

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Key Requirements PROMPT example:

"I need a Simple Trust Agreement to establish a family trust by March 2025, transferring HKD 10 million in assets to benefit my three children equally, with specific provisions for education expenses and a trust protector role for my brother."

Document background

The Simple Trust Agreement is a fundamental legal instrument used in Hong Kong for establishing trust arrangements that facilitate asset protection, wealth transfer, and succession planning. This document is typically employed when individuals or entities wish to transfer assets to be managed by trustees for the benefit of specified beneficiaries. The agreement must comply with Hong Kong's Trustee Ordinance and related legislation, making it suitable for both private and commercial trust arrangements. It includes essential provisions for trust creation, asset management, beneficiary distributions, and trustee duties, while offering flexibility to accommodate specific requirements. The Simple Trust Agreement serves as the primary governing document that trustees, legal advisors, and financial professionals refer to for trust administration and decision-making.

Suggested Sections

1. Parties: Identifies and defines the Settlor, Trustee(s), and named Beneficiaries

2. Background: Sets out the context and purpose of the trust creation

3. Definitions: Defines key terms used throughout the agreement

4. Declaration of Trust: Formal declaration establishing the trust and transfer of assets to the trustee

5. Trust Property: Detailed description of the initial trust assets and property

6. Powers and Duties of Trustees: Comprehensive list of trustee powers and obligations in managing the trust

7. Benefits and Interests of Beneficiaries: Specifies how and when beneficiaries receive trust benefits

8. Trust Administration: Details day-to-day management requirements and procedures

9. Duration of Trust: Specifies the trust period and termination conditions

10. Governing Law and Jurisdiction: Confirms Hong Kong law governance and jurisdiction for disputes

Optional Sections

1. Protector Provisions: Include when a trust protector is appointed to oversee the trustee's actions

2. Investment Guidelines: Include when specific investment restrictions or guidelines are needed

3. Replacement of Trustees: Include when specific procedures for trustee replacement are required

4. Letter of Wishes: Include when the settlor wishes to provide non-binding guidance to trustees

5. Distribution Committee: Include when a committee will be established to make distribution decisions

6. Foreign Element Provisions: Include when trust has international aspects or foreign beneficiaries

7. Tax Provisions: Include when specific tax planning arrangements are needed

Suggested Schedules

1. Schedule 1 - Trust Property: Detailed inventory of initial trust assets and their values

2. Schedule 2 - Beneficiaries: Full details of named beneficiaries and their respective interests

3. Schedule 3 - Trustee Powers: Comprehensive list of specific powers granted to trustees

4. Schedule 4 - Trustee Remuneration: Details of trustee fees and payment arrangements

5. Schedule 5 - Administrative Provisions: Detailed procedures for trust administration

6. Appendix A - Letter of Wishes: Non-binding memorandum from settlor regarding trust administration preferences

7. Appendix B - Investment Policy Statement: Detailed investment guidelines and restrictions

Authors

Alex Denne

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Financial Services

Wealth Management

Private Banking

Family Office Services

Estate Planning

Professional Services

Corporate Services

Investment Management

Real Estate

Asset Management

Relevant Teams

Legal

Compliance

Wealth Management

Trust Administration

Estate Planning

Private Banking

Asset Management

Risk Management

Corporate Services

Client Relations

Relevant Roles

Trust Administrator

Private Banker

Wealth Manager

Estate Planning Attorney

Trust Lawyer

Compliance Officer

Financial Advisor

Asset Manager

Trust Officer

Family Office Manager

Corporate Trustee

Legal Counsel

Trust Operations Manager

Relationship Manager

Risk Manager

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Let's create your Simple Trust Agreement

Authors

Alex Denne

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