A Self Declaration Of Trust is commonly used in the United States when an individual wishes to create a trust structure while maintaining direct control over their assets. This document is particularly useful for estate planning, asset protection, and tax efficiency purposes. It allows the settlor to act as their own trustee while establishing clear guidelines for asset management and eventual distribution. The document typically includes detailed provisions about trust administration, beneficiary rights, and succession planning, all while complying with both federal and state trust laws.
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1. Declaration: Statement of trust creation and settlor's intent
2. Trust Property: Detailed description of assets being placed in trust
3. Trustee Powers: Enumeration of trustee's authority and responsibilities
4. Beneficiaries: Identification of trust beneficiaries and their interests
5. Trust Administration: Rules for managing and administering the trust
1. Successor Trustees: Provisions for replacement trustees if the original trustee can no longer serve
2. Spendthrift Provisions: Protections against beneficiary creditors and restrictions on transfer of beneficial interests
3. Investment Guidelines: Specific investment rules, limitations and permitted investment types for trust assets
1. Schedule A - Trust Assets: Detailed inventory of initial trust property and assets
2. Schedule B - Beneficiary Information: Detailed information about beneficiaries and distribution terms
3. Schedule C - Special Instructions: Any specific directions for trust administration or distribution
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