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Trust Agreement For Property
"I need a Trust Agreement for Property to establish a family trust that will hold three residential properties in Dublin for my children, with my sister and brother-in-law as trustees, to take effect from March 2025."
1. Parties: Identifies the Settlor, Trustees, and any initial Beneficiaries
2. Background: Sets out the context of the trust creation and the Settlor's intention to create the trust
3. Definitions: Defines key terms used throughout the agreement including Trust Property, Trust Period, and Beneficiaries
4. Declaration of Trust: Formal declaration establishing the trust and transferring the property to the trustees
5. Trust Powers: Details the powers granted to trustees in managing the trust property
6. Trustee Duties and Responsibilities: Outlines the trustees' obligations in administering the trust
7. Beneficiaries' Rights and Interests: Specifies the nature and extent of beneficiaries' interests in the trust
8. Trust Administration: Sets out procedures for day-to-day management of the trust
9. Income and Capital Distribution: Establishes rules for distributing trust income and capital
10. Appointment and Retirement of Trustees: Procedures for changing trustees
11. Duration and Termination: Specifies the trust period and circumstances for termination
12. Governing Law and Jurisdiction: Confirms Irish law governs the trust and Irish courts have jurisdiction
1. Protector Provisions: Include when a trust protector is appointed to oversee certain trustee actions
2. Investment Provisions: Detailed investment powers and restrictions, necessary for trusts with significant liquid assets
3. Property Management Provisions: Specific provisions for managing real property, including maintenance and letting powers
4. Minor Beneficiaries: Special provisions for beneficiaries under 18, if applicable
5. Charitable Purposes: Required if the trust has any charitable elements or purposes
6. Foreign Asset Provisions: Include if trust property includes assets outside Ireland
7. Tax Provisions: Specific tax planning provisions, if required
8. Variation Powers: Powers to vary trust terms, if desired
1. Schedule 1: Trust Property: Detailed description of the initial trust property, including property titles and registration details
2. Schedule 2: Initial Beneficiaries: List of initial beneficiaries and their respective interests
3. Schedule 3: Trustee Powers: Comprehensive list of specific powers granted to trustees
4. Schedule 4: Trustee Remuneration: Details of any fees or compensation payable to trustees
5. Schedule 5: Investment Guidelines: Specific investment parameters and restrictions
6. Appendix A: Property Documents: Copies of relevant property titles and registration documents
7. Appendix B: Property Valuation: Initial valuation report of trust property
8. Appendix C: Tax Clearance Certificates: Relevant tax documentation and clearances
Authors
Real Estate
Legal Services
Wealth Management
Private Banking
Family Office Services
Property Management
Financial Services
Tax Advisory
Estate Planning
Property Development
Legal
Compliance
Real Estate
Wealth Management
Tax Advisory
Trust Administration
Risk Management
Property Management
Corporate Governance
Financial Planning
Trust Administrator
Property Manager
Legal Counsel
Estate Planning Attorney
Tax Advisor
Wealth Manager
Compliance Officer
Real Estate Manager
Trust Officer
Private Client Advisor
Property Lawyer
Financial Planning Manager
Risk Manager
Company Secretary
Portfolio Manager
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