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Discretionary Family Trust Deed

Discretionary Family Trust Deed Template for India

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Key Requirements PROMPT example:

Discretionary Family Trust Deed

"I need a Discretionary Family Trust Deed to establish a trust for my family's real estate holdings and investment portfolio, with my two adult children as primary beneficiaries and provisions for future grandchildren, while retaining the ability to add or remove beneficiaries at my discretion."

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Document background
The Discretionary Family Trust Deed is a sophisticated legal instrument used in India for family wealth management and succession planning. It is particularly relevant when families seek to establish a flexible structure for managing assets across generations while maintaining control and tax efficiency. The document is crafted under Indian trust law, specifically the Indian Trusts Act, 1882, and must comply with various other regulations including the Income Tax Act, 1961, and Registration Act, 1908. This type of trust deed is commonly used by high-net-worth families, business owners, and individuals seeking to protect and preserve family wealth while providing for future generations with discretionary distribution powers. The deed includes detailed provisions for trust administration, trustee powers, beneficiary rights, and asset management, allowing for adaptability to changing family circumstances while maintaining legal compliance and governance structure.
Suggested Sections

1. Parties: Identifies the Settlor, Trustees, and any Appointer/Guardian of the trust

2. Background: Outlines the context and intention for establishing the trust

3. Definitions: Defines key terms used throughout the deed

4. Declaration of Trust: Formal establishment of the trust and initial settlement

5. Trust Name and Period: Specifies the trust's name and duration/vesting period

6. Beneficiaries: Defines the class of primary and general beneficiaries

7. Powers of Trustees: Comprehensive list of trustees' powers in managing trust assets

8. Trustee Duties and Responsibilities: Outlines the obligations and responsibilities of trustees

9. Distribution of Income: Rules governing the distribution of trust income to beneficiaries

10. Distribution of Capital: Rules governing the distribution of trust capital

11. Appointment and Removal of Trustees: Procedures for changing trustees

12. Trust Administration: General administrative provisions and procedures

13. Amendment of Trust Deed: Provisions for modifying the trust deed

14. Governing Law and Jurisdiction: Specifies applicable law and jurisdiction

15. Execution and Attestation: Formal execution requirements and witness provisions

Optional Sections

1. Appointor Provisions: Required when the trust includes an appointor role with power to remove/appoint trustees

2. Foreign Assets: Include when trust may hold overseas assets or involve international beneficiaries

3. Business Operation Provisions: Include when trust may operate business enterprises

4. Charitable Purposes: Include when trust may make charitable distributions

5. Minor Beneficiaries: Special provisions for managing benefits for underage beneficiaries

6. Corporate Trustee Provisions: Include when allowing or specifically providing for corporate trustees

7. Perpetuity Period Extensions: Include when trust requires specific perpetuity period arrangements

8. Investment Manager Provisions: Include when external investment managers may be appointed

Suggested Schedules

1. Schedule 1 - Initial Trust Property: Details of the initial settlement and trust assets

2. Schedule 2 - Primary Beneficiaries: List of specifically named primary beneficiaries

3. Schedule 3 - General Beneficiaries: Definition and categories of general beneficiaries

4. Schedule 4 - Trustee Powers: Detailed list of specific investment and management powers

5. Schedule 5 - Trustee Remuneration: Details of trustee compensation and reimbursement provisions

6. Appendix A - Execution Formalities: Requirements for proper execution and registration

7. Appendix B - Meetings Procedure: Procedures for trustee meetings and decision-making

8. Appendix C - Accounting Requirements: Specific requirements for trust accounting and reporting

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 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










































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Relevant Industries

Financial Services

Wealth Management

Legal Services

Family Business

Real Estate

Private Banking

Tax Advisory

Estate Planning

Asset Management

Professional Services

Relevant Teams

Legal

Wealth Management

Trust Administration

Estate Planning

Tax Advisory

Compliance

Private Banking

Family Office

Risk Management

Asset Management

Relevant Roles

Trust Officer

Wealth Manager

Estate Planning Attorney

Tax Consultant

Family Office Manager

Private Banker

Legal Counsel

Trust Administrator

Financial Advisor

Compliance Officer

Risk Manager

Portfolio Manager

Family Business Advisor

Succession Planning Specialist

Property 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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