Revocable Living Trust Agreement Generator for United Arab Emirates

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Key Requirements PROMPT example:

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."

Document background
A Revocable Living Trust Agreement is a sophisticated legal instrument used in the UAE for comprehensive estate planning and asset management. This document type is particularly relevant when individuals or families seek to establish a flexible trust structure that can be modified during the settlor's lifetime while ensuring compliance with UAE laws and regulations. The agreement typically includes detailed provisions for asset management, beneficiary distributions, trustee powers, and succession planning, all while adhering to UAE federal laws and, where applicable, Sharia principles. It serves as a crucial tool for wealth preservation, tax efficiency, and seamless asset transfer, offering greater privacy and potential avoidance of probate proceedings. The trust's revocable nature allows for adjustments to accommodate changing circumstances or wishes of the settlor, making it a preferred choice for dynamic estate planning in the UAE context.
Suggested Sections

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

Optional Sections

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

Suggested Schedules

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

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

Clauses
Relevant Industries

Banking and Financial Services

Legal Services

Wealth Management

Real Estate

Family Office Services

Professional Services

Islamic Financial Services

Estate Planning

Asset Management

Private Banking

Relevant Teams

Legal

Wealth Management

Trust Administration

Compliance

Private Banking

Estate Planning

Asset Management

Risk Management

Islamic Banking

Client Services

Relevant Roles

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

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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