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Agreement And Declaration Of Trust

Agreement And Declaration Of Trust Template for Australia

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Key Requirements PROMPT example:

Agreement And Declaration Of Trust

"I need an Agreement and Declaration of Trust for a family business trust in Australia, to be established by March 2025, with provisions for multiple adult children as beneficiaries and specific clauses for business succession planning."

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Document background
The Agreement and Declaration of Trust is a critical legal instrument used in Australia for establishing formal trust arrangements across various contexts, including family wealth management, business structuring, and asset protection. This document is essential when parties wish to create a trust structure that separates legal and beneficial ownership of assets, whether for family succession, tax planning, asset protection, or business purposes. It comprehensively addresses all aspects of trust establishment and management under Australian law, including trustee appointments, beneficiary rights, asset management, and distribution mechanisms. The document must comply with both federal and state-specific trust laws, including the Trustees Act and relevant tax legislation. It's particularly valuable for high-net-worth individuals, family businesses, and organizations requiring sophisticated asset management structures, providing a robust framework for long-term asset protection and wealth management.
Suggested Sections

1. Parties: Identifies the Settlor, Trustee(s), and Named Beneficiaries

2. Background: Explains the context and purpose for establishing the trust

3. Definitions: Defines key terms used throughout the document

4. Declaration of Trust: Formal declaration establishing the trust and specifying the trust property

5. Trust Name and Period: Specifies the name of the trust and its duration/vesting date

6. Beneficiaries: Detailed provisions regarding beneficiary classes, rights, and entitlements

7. Trustee Powers: Comprehensive list of powers granted to the trustees

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

9. Trust Administration: Details day-to-day management requirements and procedures

10. Distribution of Income and Capital: Rules governing how trust income and capital are to be distributed

11. Amendment Provisions: Procedures for modifying trust terms

12. Termination Provisions: Circumstances and procedures for trust termination

13. Governing Law: Specifies applicable Australian jurisdiction and laws

14. Execution: Formal execution clauses and signing requirements

Optional Sections

1. Investment Powers: Detailed investment guidelines and restrictions - include for investment trusts

2. Business Operation Provisions: Include when trust will operate a business

3. Foreign Income Provisions: Include when trust may receive foreign-sourced income

4. Charitable Purposes: Include for charitable trusts or those with charitable components

5. Special Needs Provisions: Include when beneficiaries include persons with disabilities

6. Corporate Trustee Provisions: Include when using a corporate trustee structure

7. Perpetuity Period Extensions: Include when trust needs specific perpetuity period provisions

8. Alternative Dispute Resolution: Include for larger trusts or where family conflicts are possible

Suggested Schedules

1. Schedule 1 - Initial Trust Property: Details of property/assets initially settled in the trust

2. Schedule 2 - Named Beneficiaries: List of specifically named beneficiaries and their details

3. Schedule 3 - Trustee Remuneration: Details of any trustee fees or compensation arrangements

4. Schedule 4 - Investment Guidelines: Specific investment policies and restrictions

5. Schedule 5 - Trust Distribution Rules: Detailed rules for income and capital distributions

6. Appendix A - Trustee Meeting Procedures: Procedures for trustee meetings and decision-making

7. Appendix B - Accounting Requirements: Specific accounting and reporting requirements

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 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

Real Estate

Family Business

Professional Services

Investment Management

Charitable Organizations

Private Banking

Estate Planning

Property Development

Agriculture

Mining

Retail

Healthcare

Relevant Teams

Legal

Finance

Wealth Management

Trust Administration

Compliance

Risk Management

Tax

Corporate Services

Private Client Services

Estate Planning

Investment Management

Relevant Roles

Trustee

Trust Administrator

Wealth Manager

Financial Advisor

Estate Planning Lawyer

Tax Accountant

Trust Accountant

Family Office Manager

Corporate Trustee Director

Trust Operations Manager

Compliance Officer

Legal Counsel

Chief Financial Officer

Investment Manager

Risk Manager

Private Client Advisor

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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