Private Trust Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

Private Trust Agreement

"I need a Private Trust Agreement to establish a family trust in the UAE for managing multiple real estate assets and investment portfolios, with quarterly distributions to five family members and special provisions for education funding for minor beneficiaries, to be effective from March 1, 2025."

Document background
The Private Trust Agreement is a sophisticated legal instrument used in the UAE for establishing private trust arrangements under Federal Decree-Law No. 19 of 2020. This document is essential for individuals and entities seeking to structure their wealth, manage assets, or plan their estate in accordance with UAE law. It becomes particularly relevant when there's a need to separate legal ownership from beneficial ownership of assets, protect family wealth, or establish long-term asset management structures. The agreement comprehensively covers the appointment of trustees, definition of beneficiary rights, asset management parameters, and compliance requirements specific to the UAE jurisdiction. It can be structured to accommodate both conventional and Islamic finance principles, making it versatile for various wealth management needs in the region.
Suggested Sections

1. Parties: Identification of the Settlor(s), Trustee(s), and named Beneficiaries with full legal details

2. Background: Context of the trust creation, settlor's intentions, and purpose of the trust arrangement

3. Definitions: Definitions of key terms used throughout the agreement, including specific UAE legal terminology

4. Declaration of Trust: Formal establishment of the trust and transfer of assets from settlor to trustee

5. Trust Property: Detailed description of initial trust assets and how future assets may be added

6. Powers and Duties of Trustees: Comprehensive outline of trustee authorities and responsibilities under UAE law

7. Rights of Beneficiaries: Specification of beneficiary entitlements, distribution rules, and conditions

8. Trust Administration: Procedures for day-to-day management, decision-making, and record-keeping

9. Duration and Termination: Trust period, termination circumstances, and distribution of assets upon termination

10. Governing Law and Jurisdiction: Confirmation of UAE law application and jurisdictional matters

11. Amendment Provisions: Procedures for modifying trust terms and limitations on amendments

Optional Sections

1. Protector Provisions: Required when a trust protector is appointed to oversee trustee actions and provide additional security

2. Sharia Compliance: Required when the trust needs to operate in accordance with Islamic law principles

3. Foreign Asset Provisions: Required when trust includes assets located outside the UAE

4. Corporate Trustee Provisions: Required when using a corporate trustee instead of individual trustees

5. Successor Trustee Provisions: Required when specific succession planning for trustees is needed

6. Investment Guidelines: Required when specific investment restrictions or guidelines need to be established

7. Dispute Resolution: Required when specific arbitration or mediation procedures are preferred over court proceedings

Suggested Schedules

1. Schedule 1 - Initial Trust Property: Detailed inventory and valuation of all initial trust assets

2. Schedule 2 - Beneficiary Information: Complete details of beneficiaries including contact information and distribution shares

3. Schedule 3 - Trustee Compensation: Fee structure and payment terms for trustee services

4. Schedule 4 - Investment Policy Statement: Detailed investment guidelines and restrictions

5. Schedule 5 - Distribution Policy: Specific rules and procedures for making distributions to beneficiaries

6. Appendix A - KYC Documentation: Required identification and verification documents for all parties

7. Appendix B - Tax Considerations: Overview of relevant tax implications and compliance requirements

8. Appendix C - Compliance Checklist: List of ongoing compliance requirements under UAE law

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

Relevant Industries

Financial Services

Private Banking

Wealth Management

Family Office Services

Real Estate

Professional Services

Islamic Finance

Corporate Services

Legal Services

Investment Management

Relevant Teams

Legal

Compliance

Wealth Management

Private Banking

Corporate Services

Risk Management

Financial Advisory

Trust Administration

Investment Management

Client Relations

Relevant Roles

Trust Manager

Wealth Manager

Private Banker

Legal Counsel

Compliance Officer

Estate Planner

Financial Advisor

Trust Administrator

Family Office Manager

Investment Manager

Relationship Manager

Corporate Services Director

Risk Management Officer

Succession Planning 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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