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Simple Trust Agreement

Simple Trust Agreement Template for Malaysia

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Key Requirements PROMPT example:

Simple Trust Agreement

"I need a Simple Trust Agreement to establish a family trust for my three children, transferring my investment portfolio and property in Kuala Lumpur to be managed by HSBC Malaysia as the professional trustee, with distributions to begin when my youngest child turns 21 in March 2025."

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Document background
The Simple Trust Agreement is a fundamental legal instrument in Malaysian trust law, used to create a formal trust structure for asset protection, succession planning, or charitable purposes. This document is essential when individuals or organizations wish to transfer assets to be managed by trustees for the benefit of specific beneficiaries. The agreement must comply with the Malaysian Trustees Act 1949 and related legislation, making it suitable for both personal and business contexts. It typically includes detailed provisions on trust property, trustee powers and duties, beneficiary rights, and distribution mechanisms. The Simple Trust Agreement is particularly valuable for estate planning, family wealth management, charitable giving, and business succession planning in Malaysia.
Suggested Sections

1. Parties: Identifies the Settlor, Trustee(s), and Beneficiaries with their full legal names and addresses

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

3. Definitions: Defines key terms used throughout the agreement

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

5. Trust Property: Detailed description of the assets being placed in trust

6. Powers of Trustees: Enumeration of the trustees' powers in managing and administering the trust

7. Duties of Trustees: Specific responsibilities and obligations of the trustees

8. Rights of Beneficiaries: Outlines the entitlements and rights of the beneficiaries

9. Distribution of Trust Income and Capital: Rules for distributing trust income and capital to beneficiaries

10. Duration of Trust: Specifies the term of the trust and conditions for termination

11. Governing Law and Jurisdiction: Confirms Malaysian law as governing law and jurisdiction for disputes

Optional Sections

1. Appointment and Removal of Trustees: Procedures for appointing new trustees or removing existing ones - include when multiple trustees are involved

2. Trustee Remuneration: Details of any fees or compensation for trustees - include when professional trustees are appointed

3. Investment Powers: Specific investment guidelines and restrictions - include for trusts with significant financial assets

4. Protector Provisions: Role and powers of a trust protector - include when additional oversight is desired

5. Variation of Trust: Mechanisms for modifying trust terms - include for long-term or complex trusts

6. Accounting and Reporting: Requirements for financial reporting to beneficiaries - include for larger trusts or when required by beneficiaries

7. Conflict Resolution: Detailed dispute resolution procedures - include when multiple beneficiaries or complex arrangements exist

Suggested Schedules

1. Schedule 1 - Trust Property: Detailed inventory and description of all assets placed in trust

2. Schedule 2 - Beneficiaries: Full details of beneficiaries including shares or entitlements

3. Schedule 3 - Investment Guidelines: Specific investment policies and restrictions if applicable

4. Appendix A - Key Contact Information: Contact details for all relevant parties including professional advisors

5. Appendix B - Trustee Certification: Formal acceptance of appointment by trustees

6. Appendix C - Asset Transfer Documents: Copies of relevant transfer documents for trust property

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





















Clauses




















Relevant Industries

Financial Services

Real Estate

Family Business

Wealth Management

Non-Profit/Charity

Education

Healthcare

Private Banking

Professional Services

Estate Planning

Relevant Teams

Legal

Wealth Management

Trust Administration

Compliance

Risk Management

Private Banking

Estate Planning

Tax Advisory

Corporate Services

Client Relations

Relevant Roles

Trust Officer

Estate Planning Attorney

Wealth Manager

Financial Advisor

Private Banker

Legal Counsel

Compliance Officer

Tax Consultant

Family Office Manager

Trust Administrator

Relationship Manager

Risk Management Officer

Corporate Trustee

Estate Planning Specialist

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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