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Private Trust Agreement
"I need a Private Trust Agreement under Hong Kong law to establish a family trust for my real estate holdings and investment portfolio, with provisions for multiple generations of beneficiaries and the appointment of a professional corporate trustee to manage the assets starting March 2025."
1. Parties: Identifies and defines the Settlor, Trustee(s), and any Protector or Enforcer of the trust
2. Background: Sets out the context and purpose of establishing the trust
3. Definitions: Defines key terms used throughout the agreement
4. Declaration of Trust: Formal establishment of the trust and transfer of assets to trustees
5. Trust Powers: Details the powers granted to trustees in managing and administering the trust
6. Trustee Duties and Responsibilities: Specifies the obligations and responsibilities of trustees
7. Beneficiaries: Identifies the beneficiaries and their respective interests in the trust
8. Distribution Provisions: Details how and when trust assets and income are to be distributed
9. Trust Period: Specifies the duration of the trust and termination conditions
10. Administrative Provisions: Covers day-to-day management of the trust including accounting and reporting requirements
11. Governing Law and Jurisdiction: Confirms Hong Kong law as governing law and jurisdiction for disputes
12. Amendment Provisions: Procedures for modifying trust terms if permitted
1. Protector Provisions: Required when a protector is appointed to oversee trustee actions and provide additional security
2. Letter of Wishes: Used when the settlor wishes to provide non-binding guidance to trustees about future trust administration
3. Investment Powers and Restrictions: Detailed investment guidelines when specific investment parameters are required
4. Charitable Purposes: Required when the trust includes charitable elements or purposes
5. Foreign Element Provisions: Needed when trust has international aspects such as foreign assets or beneficiaries
6. Corporate Trustee Provisions: Specific provisions when a corporate trustee is appointed instead of individual trustees
7. Successor Trustee Provisions: Detailed procedures for trustee replacement when specific succession planning is required
1. Schedule 1 - Initial Trust Property: Detailed inventory of assets initially settled into the trust
2. Schedule 2 - Beneficiary Details: Full details of beneficiaries including contact information and beneficial interests
3. Schedule 3 - Trustee Powers: Comprehensive list of specific powers granted to trustees
4. Schedule 4 - Trustee Remuneration: Details of trustee fees and payment arrangements
5. Schedule 5 - Investment Guidelines: Specific investment parameters and restrictions
6. Appendix A - Deed of Retirement and Appointment of Trustees: Template document for trustee changes
7. Appendix B - Letter of Wishes Template: Standard format for settlor's letter of wishes
Authors
Financial Services
Private Banking
Wealth Management
Family Office
Estate Planning
Corporate Services
Legal Services
Asset Management
Tax Advisory
Private Client Services
Real Estate
Investment Management
Legal
Compliance
Wealth Management
Private Banking
Trust Administration
Risk Management
Corporate Services
Tax Advisory
Estate Planning
Client Relations
Investment Management
Trust Officer
Private Client Lawyer
Wealth Manager
Estate Planning Attorney
Trust Administrator
Compliance Officer
Financial Advisor
Tax Consultant
Private Banker
Family Office Manager
Corporate Trustee
Legal Counsel
Risk Manager
Trust Account Manager
Relationship Manager
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