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Co Trustee Agreement

Co Trustee Agreement Template for Netherlands

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Key Requirements PROMPT example:

Co Trustee Agreement

"I need a Co-Trustee Agreement for a wealth management firm and a family member to jointly manage a €50M family trust starting March 2025, with specific provisions for sustainable investment policies and quarterly reporting requirements."

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Document background
The Co-Trustee Agreement is essential when multiple trustees are appointed to manage trust assets in the Netherlands. This document becomes particularly relevant in situations involving complex trust structures, significant asset portfolios, or when diverse expertise is required for trust management. The agreement operates within the Dutch legal framework, which, while not having a domestic trust law, recognizes trust arrangements through the Hague Trust Convention and regulates them through various provisions of the Dutch Civil Code. The document typically includes detailed provisions on joint decision-making, division of responsibilities, liability allocation, and compliance with Dutch financial regulations. It's commonly used by professional trustees, financial institutions, and family offices to ensure proper governance and risk management in multi-trustee arrangements.
Suggested Sections

1. Parties: Identification of all co-trustees and their legal details

2. Background: Context of the trust arrangement, reference to the main trust deed, and reason for co-trustee appointment

3. Definitions and Interpretation: Definitions of key terms used in the agreement and rules of interpretation

4. Appointment and Term: Formal appointment of co-trustees, commencement date, and duration of appointment

5. Powers and Authority: Scope of trustees' powers, both joint and several, and any limitations

6. Duties and Responsibilities: Core obligations of co-trustees, including fiduciary duties and specific responsibilities

7. Decision Making Process: Procedures for making decisions, voting rights, and resolving deadlocks

8. Administration and Records: Requirements for record-keeping, accounting, and administration of trust assets

9. Remuneration and Expenses: Compensation structure for trustees and handling of trust-related expenses

10. Liability and Indemnification: Extent of trustees' liability and circumstances for indemnification

11. Resignation and Removal: Procedures for resignation or removal of co-trustees and appointment of successors

12. Governing Law and Jurisdiction: Specification of Dutch law as governing law and jurisdiction for disputes

13. General Provisions: Standard boilerplate clauses including notices, amendments, and severability

Optional Sections

1. Investment Policy: Detailed investment guidelines and restrictions - include when trust involves significant investment activities

2. Distribution Committee: Structure and operation of a distribution committee - include when complex distribution decisions are required

3. Foreign Asset Management: Specific provisions for managing non-Dutch assets - include when trust has international components

4. Conflict Resolution: Detailed dispute resolution procedures - include when additional conflict management mechanisms are desired

5. Delegation of Powers: Provisions for delegating certain powers to agents or advisors - include when professional services are required

6. Digital Assets Management: Provisions for handling digital assets - include when trust includes cryptocurrency or other digital assets

7. Environmental, Social and Governance (ESG): ESG investment and management criteria - include when ESG considerations are important to the trust

Suggested Schedules

1. Schedule 1 - Trust Assets: Detailed inventory of all trust assets under co-trustee management

2. Schedule 2 - Fee Schedule: Detailed breakdown of trustee fees, expenses, and payment terms

3. Schedule 3 - Administrative Procedures: Detailed procedures for day-to-day administration and record-keeping

4. Schedule 4 - Decision Making Matrix: Matrix showing which decisions require unanimous consent vs. majority decision

5. Schedule 5 - Reporting Requirements: Templates and requirements for periodic reporting

6. Appendix A - Main Trust Deed: Copy of the main trust deed referenced in the agreement

7. Appendix B - KYC Documentation: Required know-your-customer and compliance documentation

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

Wealth Management

Private Banking

Estate Planning

Corporate Services

Family Office Services

Philanthropy

Asset Management

Trust Services

Private Client Services

Relevant Teams

Legal

Compliance

Wealth Management

Trust Administration

Private Banking

Risk Management

Asset Management

Client Services

Fiduciary Services

Estate Planning

Relevant Roles

Trustee

Trust Officer

Wealth Manager

Private Client Advisor

Estate Planner

Trust Administrator

Legal Counsel

Compliance Officer

Risk Manager

Financial Advisor

Asset Manager

Trust Director

Family Office Manager

Private Banking Manager

Trust Services Director

Fiduciary Services 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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