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Living Trust Agreement

Living Trust Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

Living Trust Agreement

"I need a Living Trust Agreement for managing my family's real estate portfolio in Dubai, with provisions for monthly distributions to my three children starting January 2025, and specific requirements for Sharia compliance."

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Document background
The Living Trust Agreement is a sophisticated legal instrument used in the UAE for comprehensive estate planning and asset management. It enables individuals and families to establish a flexible structure for managing and transferring assets while maintaining privacy and avoiding probate proceedings. This document is particularly relevant in the UAE context, where it must comply with both civil law principles and Sharia considerations, especially within the DIFC and ADGM free zones which have specific trust regulations. The agreement typically includes detailed provisions for asset management, beneficiary distributions, trustee powers, and succession planning, making it suitable for high-net-worth individuals, family offices, and businesses seeking structured wealth management solutions. The document's flexibility allows for modifications during the settlor's lifetime while providing a secure framework for asset protection and transfer.
Suggested Sections

1. Parties: Identification of the Settlor (Creator of Trust), Trustee(s), and Beneficiaries with complete details

2. Background: Context for creating the trust, including the settlor's intentions and purpose of the trust

3. Definitions: Detailed definitions of key terms used throughout the agreement

4. Trust Creation: Declaration of trust, specification of trust name, and effective date

5. Trust Property: Detailed description of assets being placed in trust and method of transfer

6. Powers and Duties of Trustee: Comprehensive outline of trustee's authorities, responsibilities, and limitations

7. Distribution Provisions: Rules and conditions for distributing trust assets to beneficiaries

8. Trust Administration: Procedures for managing the trust, including investment guidelines and reporting requirements

9. Successor Trustees: Process for appointing and replacing trustees

10. Amendment and Revocation: Terms under which the trust can be modified or terminated

11. Governing Law and Jurisdiction: Specification of UAE law application and relevant jurisdiction

12. Execution: Signature blocks and attestation requirements

Optional Sections

1. Sharia Compliance Declaration: Additional section for trusts specifically structured to comply with Islamic law principles

2. Special Needs Provisions: Specific provisions for beneficiaries with special needs or requirements

3. Spendthrift Provisions: Protective clauses to prevent beneficiaries from assigning or transferring their interests

4. Tax Considerations: Specific provisions dealing with international tax implications, particularly relevant for expatriate settlors

5. Digital Assets: Provisions for handling digital assets and cryptocurrencies

6. Business Interests: Special provisions for managing business interests held in trust

7. Conflict Resolution: Detailed procedures for resolving disputes between trustees and beneficiaries

Suggested Schedules

1. Schedule A - Trust Property: Detailed inventory of all assets initially placed in trust

2. Schedule B - Beneficiary Information: Complete details of all beneficiaries and their respective interests

3. Schedule C - Distribution Schedule: Specific timeline and conditions for trust distributions

4. Schedule D - Investment Guidelines: Detailed investment policies and restrictions

5. Schedule E - Trustee Compensation: Structure and terms of trustee fees and expenses

6. Appendix 1 - Asset Transfer Documents: Forms and documents required for transferring assets to the trust

7. Appendix 2 - Compliance Certificates: Required regulatory and compliance certifications

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Applicable Law
Assets
Beneficiary
Distribution Date
DIFC
Effective Date
Governing Law
Income
Investment Guidelines
Legal Guardian
Net Income
Principal
Property
Residuary Estate
Settlor
Successor Trustee
Trust
Trust Administrator
Trust Assets
Trust Duration
Trust Estate
Trust Instrument
Trust Period
Trust Property
Trust Protector
Trustee
Trustee Powers
UAE
UAE Civil Code
Sharia Board
Distribution Schedule
Investment Advisor
Trust Account
Trust Deed
Trust Income
Trust Jurisdiction
Vesting Date
Clauses
Trust Creation
Asset Transfer
Trustee Appointment
Trustee Powers
Trustee Duties
Trustee Compensation
Trust Administration
Investment Authority
Distribution Provisions
Beneficiary Rights
Successor Trustees
Trust Protector
Amendment Powers
Revocation Rights
Governing Law
Jurisdiction
Dispute Resolution
Compliance Requirements
Confidentiality
Asset Management
Reporting Requirements
Tax Provisions
Termination
Severability
Force Majeure
Notice Requirements
Liability and Indemnification
Delegation Authority
Accounting Provisions
Regulatory Compliance
Sharia Compliance
Asset Protection
Succession Planning
Distribution Schedule
Investment Guidelines
Relevant Industries

Financial Services

Wealth Management

Legal Services

Private Banking

Family Office Services

Estate Planning

Islamic Finance

Professional Services

Real Estate

Investment Management

Relevant Teams

Legal

Wealth Management

Private Banking

Compliance

Risk Management

Estate Planning

Trust Administration

Investment Management

Client Relations

Islamic Finance

Relevant Roles

Wealth Manager

Private Banker

Trust Officer

Estate Planning Attorney

Legal Counsel

Financial Advisor

Family Office Manager

Compliance Officer

Investment Manager

Relationship Manager

Trust Administrator

Risk Manager

Asset Manager

Islamic Finance Specialist

Succession Planning Advisor

Industries
UAE Federal Law No. 5 of 1985 (Civil Code): The foundational civil law that governs contracts and property rights in the UAE, including principles related to ownership transfer and property management
DIFC Trust Law No. 4 of 2018: Comprehensive legislation governing trust arrangements within the Dubai International Financial Centre, including creation, administration, and enforcement of trusts
ADGM Trust Regulations 2016: Regulations governing trust arrangements within the Abu Dhabi Global Market, providing framework for trust creation and management
UAE Federal Law No. 28 of 2005 (Personal Status Law): Governs personal status matters including inheritance and family wealth distribution, which must be considered in trust arrangements
UAE Federal Law No. 14 of 2018 (Central Bank Law): Regulates financial institutions and banking activities, relevant for trust accounts and financial arrangements
UAE Federal Law No. 20 of 2018 (Anti-Money Laundering Law): Compliance requirements for trust arrangements regarding anti-money laundering and counter-terrorism financing
DIFC Law No. 1 of 2008 (Law of Security): Relevant for securing assets within trust structures in the DIFC
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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