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Declaration Of Trust

Declaration Of Trust Template for Nigeria

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Key Requirements PROMPT example:

Declaration Of Trust

"I need a Declaration of Trust under Nigerian law to establish a family trust for my Lagos property and investment portfolio, with my three adult children as beneficiaries and FCMB Trustees Limited as the corporate trustee, to be effective from March 1, 2025."

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Document background
A Declaration of Trust is essential in Nigerian legal practice for establishing formal trust arrangements, whether for personal estate planning, business succession, or charitable purposes. This document is used when there is a need to legally separate the ownership and control of assets from their beneficial enjoyment. The declaration must comply with Nigerian trust law and includes crucial details about the trust property, the rights and obligations of trustees, and the interests of beneficiaries. It's particularly important in contexts where clear documentation of ownership arrangements is required, such as in property transactions, family wealth planning, or corporate structuring. The document must be properly executed and may require registration with relevant Nigerian authorities depending on the nature of the trust assets.
Suggested Sections

1. Parties: Identification of the Settlor(s), Trustee(s), and named Beneficiaries

2. Background: Context of the trust creation and the settlor's intentions

3. Definitions: Definitions of key terms used throughout the document

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

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

6. Trust Terms: Core terms governing the trust, including duration and distribution rules

7. Trustees' Powers: Comprehensive list of powers granted to trustees

8. Trustees' Duties: Obligations and responsibilities of trustees under the trust

9. Administration Provisions: Procedures for trust administration and decision-making

10. Appointment and Removal of Trustees: Process for changing trustees

11. Trust Income and Capital: Rules for handling trust income and capital distributions

12. Termination Provisions: Circumstances and procedures for trust termination

13. Governing Law: Confirmation of Nigerian law as governing law

14. Execution: Signature blocks and attestation requirements

Optional Sections

1. Protector Provisions: Include when a trust protector is appointed to oversee trustees

2. Investment Guidelines: Include for trusts with significant financial assets requiring specific investment parameters

3. Minor Beneficiaries: Include when beneficiaries include minors requiring special provisions

4. Charitable Purposes: Include for trusts with charitable elements or purposes

5. Foreign Assets: Include when trust property includes assets located outside Nigeria

6. Business Interests: Include when trust holds business interests requiring specific management provisions

7. Dispute Resolution: Include when specific dispute resolution procedures are desired

8. Tax Provisions: Include when specific tax planning arrangements are necessary

Suggested Schedules

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

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

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

4. Schedule 4 - Administrative Provisions: Detailed procedures for trust administration

5. Appendix A - Asset Valuations: Independent valuations of trust assets where required

6. Appendix B - Investment Guidelines: Detailed investment parameters and restrictions

7. Appendix C - Fee Schedule: Schedule of trustee fees and administrative costs

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

Real Estate

Private Banking

Legal Services

Family Office

Wealth Management

Corporate Services

Estate Planning

Investment Management

Charitable Organizations

Education

Healthcare

Relevant Teams

Legal

Compliance

Wealth Management

Trust Administration

Estate Planning

Corporate Services

Private Client Services

Risk Management

Tax Advisory

Investment Management

Relevant Roles

Trust Officer

Legal Counsel

Estate Planner

Wealth Manager

Property Manager

Corporate Trustee

Financial Advisor

Tax Consultant

Compliance Officer

Private Client Advisor

Family Office Manager

Trust Administrator

Asset Manager

Investment Advisor

Company Secretary

Industries








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