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Addendum To Trust Deed

Addendum To Trust Deed Template for Malaysia

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Key Requirements PROMPT example:

Addendum To Trust Deed

"I need an Addendum to Trust Deed to modify our family trust dated March 15, 2020, to add new investment powers for cryptocurrency assets and update the trustee's remuneration structure, with the changes to take effect from January 1, 2025."

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Document background
An Addendum To Trust Deed is a crucial legal instrument used in Malaysian trust administration when modifications to an existing trust arrangement become necessary. This document is typically employed when circumstances require changes to trustee powers, beneficiary rights, administrative provisions, or investment parameters, but where a complete trust deed replacement is unnecessary or undesirable. Operating within the framework of Malaysian trust law, particularly the Trustees Act 1949 and related legislation, the addendum must be carefully drafted to ensure it complements the original trust deed while clearly articulating the specific modifications. It's commonly used in response to changes in family circumstances, tax considerations, or regulatory requirements, requiring careful consideration of both the original trust's objectives and current legal compliance needs.
Suggested Sections

1. Parties: Identifies all parties to the addendum, including the trustee(s), settlor (if living), and any other relevant parties such as protector or enforcer

2. Background: References the original trust deed, its date of execution, and explains the reason for the addendum

3. Definitions: Defines key terms used in the addendum and incorporates definitions from the original trust deed

4. Interpretation: Establishes how the addendum should be read in conjunction with the original trust deed

5. Amendments: Clearly states the specific modifications being made to the original trust deed

6. Confirmation: Confirms that all other provisions of the original trust deed remain in full force and effect

7. Governing Law: Confirms that Malaysian law governs the addendum

8. Execution: Formal execution clause and signature blocks for all parties

Optional Sections

1. Additional Powers: Used when granting new powers to trustees or other parties

2. Beneficiary Modifications: Include when changing beneficiary rights or classes of beneficiaries

3. Administrative Provisions: Added when modifying trust administration procedures

4. Investment Provisions: Used when changing investment powers or restrictions

5. Trustee Remuneration: Include when modifying trustee compensation arrangements

6. Perpetuity Period: Used when modifying or clarifying the trust's duration

7. Variation Powers: Include when adding or modifying powers to vary the trust in the future

Suggested Schedules

1. Schedule 1 - Original Trust Deed: Copy or extract of the original trust deed being modified

2. Schedule 2 - Amended Clauses: Full text of the amended clauses in their new form

3. Schedule 3 - Asset Schedule: Updated list of trust assets if relevant to the modifications

4. Schedule 4 - Consents: Written consents from relevant parties if required for the modifications

5. Schedule 5 - Legal Opinions: Any legal opinions obtained regarding the validity of the modifications

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 Industries

Financial Services

Wealth Management

Real Estate

Private Banking

Corporate Services

Legal Services

Family Office Services

Estate Planning

Asset Management

Relevant Teams

Legal

Compliance

Wealth Management

Trust Administration

Private Banking

Estate Planning

Corporate Services

Risk Management

Client Relations

Document Management

Relevant Roles

Trust Manager

Legal Counsel

Wealth Manager

Estate Planning Attorney

Trust Administrator

Compliance Officer

Private Client Advisor

Financial Advisor

Trust Officer

Corporate Trustee

Private Banker

Family Office Manager

Industries
Trustees Act 1949: The primary legislation governing trusts in Malaysia, covering trustee appointments, powers, duties, and responsibilities. It provides the legal framework for trust administration and management.
National Land Code 1965: Governs all matters related to land and real property in Malaysia, including the registration and transfer of land held in trust, and the recording of trust interests in land.
Civil Law Act 1956: Enables the application of English common law principles and rules of equity in trust matters where there is no specific written Malaysian law, providing additional guidance for trust interpretation.
Stamp Act 1949: Regulates the stamping requirements and duties payable on trust documents and their amendments, ensuring legal validity and enforceability of trust documentation.
Powers of Attorney Act 1949: Relevant for trust deeds involving delegated powers and the appointment of attorneys, governing the creation and execution of powers of attorney within trust structures.
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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