Document background
The Revocable Living Trust Agreement is a sophisticated estate planning tool used in Malaysia when individuals seek to establish a flexible framework for managing and distributing their assets both during their lifetime and after death. This document is particularly valuable for high-net-worth individuals and families requiring comprehensive asset management and succession planning solutions. It allows the settlor to maintain control over their assets while creating a structure that can efficiently transfer wealth to beneficiaries, potentially minimizing probate procedures and maintaining privacy. The agreement must comply with Malaysian legal requirements, including the Trustees Act 1949, and for Muslim settlors, relevant Islamic law principles. It typically includes detailed provisions for asset management, trustee powers, beneficiary distributions, and can be modified or revoked as circumstances change during the settlor's lifetime.
