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Revocable Living Trust Agreement
"I need a Revocable Living Trust Agreement to manage my real estate portfolio and family business assets in Dubai, with distributions set up for my three adult children and provisions for my charitable foundation, to be established by March 2025."
1. Parties: Identification of the Settlor (Grantor), Trustee(s), and Beneficiaries with their full legal names and capacities
2. Background: Context of trust creation, settlor's intentions, and general purpose of the trust
3. Definitions: Comprehensive definitions of terms used throughout the agreement
4. Trust Creation and Name: Formal declaration of trust creation, trust name, and initial trust property
5. Trust Property: Description of assets being placed in trust and mechanism for adding future assets
6. Distribution of Trust Income and Principal: Rules and procedures for distributing trust assets and income to beneficiaries
7. Powers of Trustee: Detailed enumeration of trustee's powers and authority in managing trust assets
8. Duties of Trustee: Trustee's responsibilities, reporting obligations, and standard of care
9. Rights of Settlor: Settlor's retained rights, including power to revoke or modify the trust
10. Successor Trustees: Provisions for appointment and succession of trustees
11. Trust Administration: Administrative procedures, record-keeping requirements, and accounting obligations
12. Amendment and Revocation: Procedures and limitations for modifying or revoking the trust
13. Governing Law and Jurisdiction: Specification of UAE law application and jurisdictional matters
14. Severability: Provisions ensuring validity of remaining terms if any portion is found invalid
1. Shariah Compliance Declaration: Optional section declaring the trust's compliance with Islamic law principles, used when the settlor requires Shariah compliance
2. Special Needs Provisions: Specific provisions for beneficiaries with special needs or disabilities
3. Business Interest Management: Provisions for managing business interests held in trust, used when trust includes business assets
4. Foreign Asset Provisions: Special provisions for managing assets located outside the UAE
5. Tax Planning Provisions: Specific provisions for tax efficiency, particularly relevant for international settlors or beneficiaries
6. Digital Assets: Provisions for handling digital assets and cryptocurrencies
7. Guardian Provisions: Provisions for appointing guardians for minor beneficiaries, used when minor beneficiaries are involved
8. Charitable Giving: Provisions for charitable donations or establishing charitable purposes within the trust
1. Schedule A - Trust Property: Detailed inventory of initial trust assets, including property descriptions, valuations, and titles
2. Schedule B - Beneficiary Information: Detailed information about beneficiaries, including contact information and distribution preferences
3. Schedule C - Distribution Schedule: Specific instructions for timing and amounts of distributions to beneficiaries
4. Schedule D - Trustee Compensation: Details of trustee compensation and reimbursement policies
5. Appendix 1 - Asset Transfer Documents: Forms and documents required for transferring assets into the trust
6. Appendix 2 - Administrative Procedures: Detailed procedures for trust administration and record-keeping
7. Appendix 3 - Succession Plan: Detailed plan for trustee succession and emergency trustee provisions
8. Appendix 4 - Contact Information: Contact details for all relevant parties, advisors, and financial institutions
Authors
Applicable Law
Assets
Beneficiary
Contingent Beneficiary
Distribution
Effective Date
Governing Law
Grantor
Income
Initial Trust Property
Islamic Law
Legal Guardian
Principal
Professional Advisor
Prohibited Investment
Prudent Person Standard
Remainder Interest
Revocation
Settlor
Shariah
Successor Trustee
Trust
Trust Property
Trust Protector
Trustee
UAE
UAE Civil Code
UAE Personal Status Law
Vest
Witness
Asset Transfer
Trust Property Management
Distribution
Trustee Powers
Trustee Duties
Trustee Compensation
Successor Trustees
Beneficiary Rights
Revocation Rights
Amendment Rights
Trust Administration
Investment Powers
Accounting
Tax Provisions
Liability Protection
Dispute Resolution
Governing Law
Severability
Confidentiality
Force Majeure
Notice Requirements
Termination
Asset Distribution Upon Termination
Shariah Compliance
Jurisdiction
Survivorship
Incapacity Provisions
Property Rights
Delegation
Banking and Financial Services
Legal Services
Wealth Management
Real Estate
Family Office Services
Professional Services
Islamic Financial Services
Estate Planning
Asset Management
Private Banking
Legal
Wealth Management
Trust Administration
Compliance
Private Banking
Estate Planning
Asset Management
Risk Management
Islamic Banking
Client Services
Trust Officer
Private Banker
Wealth Manager
Estate Planning Attorney
Legal Counsel
Financial Advisor
Trust Administrator
Compliance Officer
Family Office Manager
Asset Manager
Investment Advisor
Succession Planning Specialist
Islamic Finance Specialist
Property Manager
Risk Management Officer
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