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Simple Trust Agreement

Simple Trust Agreement Template for Australia

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Key Requirements PROMPT example:

Simple Trust Agreement

"I need a Simple Trust Agreement to establish a family trust for my investment property and share portfolio, with my three adult children as beneficiaries and my accountant as the corporate trustee, to be established by March 2025."

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Document background
The Simple Trust Agreement is a essential legal instrument in Australian trust law, designed to create a clear and enforceable trust structure. This document is typically used when individuals or entities wish to establish a basic trust arrangement for purposes such as asset protection, estate planning, or family wealth management. It includes crucial provisions required under Australian law regarding trust property, trustee powers, beneficiary rights, and trust administration. The agreement must comply with both Commonwealth legislation and state-specific trust laws, making it suitable for various purposes while maintaining legal certainty. A Simple Trust Agreement is particularly valuable for straightforward trust arrangements where complex provisions are not required, though it can be customized to accommodate specific needs while maintaining its fundamental structure.
Suggested Sections

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

2. Background: Sets out the context and intention to create the trust

3. Definitions: Defines key terms used throughout the agreement

4. Declaration of Trust: Formal establishment of the trust and transfer of initial trust property

5. Trust Name and Duration: Specifies the name of the trust and its term/duration

6. Trust Property: Describes the initial and future trust property

7. Beneficiaries: Defines the class of beneficiaries and their respective interests

8. Trustee Powers: Details the powers granted to trustees in managing the trust

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

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

11. Trust Administration: Sets out the administrative requirements and procedures

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

13. Amendment of Trust: Provisions for modifying trust terms

14. Termination: Circumstances and process for ending the trust

15. Governing Law: Specifies the applicable law and jurisdiction

Optional Sections

1. Perpetuity Period: Required when the trust may continue for an extended period, specifying compliance with perpetuity rules

2. Investment Powers: Detailed investment guidelines and restrictions, needed for trusts with significant investment activities

3. Appointor Provisions: Required when appointing a person with power to remove and appoint trustees

4. Corporate Trustee Provisions: Specific provisions when a company acts as trustee

5. Remuneration of Trustees: Required when trustees are to be paid for their services

6. Dispute Resolution: Detailed procedures for resolving disputes, recommended for larger or complex trusts

7. Foreign Beneficiary Provisions: Required when beneficiaries may include non-residents

8. Minor Beneficiary Provisions: Specific provisions for handling distributions to minors

9. Asset Protection Provisions: Additional provisions for protecting trust assets from creditors

Suggested Schedules

1. Schedule 1 - Initial Trust Property: Detailed list and description of assets initially settled in the trust

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

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

4. Schedule 4 - Excluded Beneficiaries: List of persons specifically excluded from benefiting from the trust

5. Appendix A - Execution Requirements: Details of execution formalities and requirements

6. Appendix B - Trustee Resignation Form: Template form for trustee resignation

7. Appendix C - Trustee Appointment Form: Template form for appointing new trustees

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

Legal Services

Wealth Management

Real Estate

Family Business

Professional Services

Investment Management

Private Banking

Estate Planning

Property Development

Agriculture

Charitable Organizations

Relevant Teams

Legal

Finance

Wealth Management

Compliance

Risk Management

Private Client Services

Trust Administration

Tax Advisory

Estate Planning

Asset Management

Relevant Roles

Trust Lawyer

Estate Planning Attorney

Wealth Manager

Financial Advisor

Trust Administrator

Tax Accountant

Legal Counsel

Property Manager

Family Office Manager

Trust Officer

Compliance Officer

Private Client Advisor

Portfolio Manager

Risk Manager

Company Secretary

Industries









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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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