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Trust Revocation Declaration

Trust Revocation Declaration Template for Malaysia

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Key Requirements PROMPT example:

Trust Revocation Declaration

"I need a Trust Revocation Declaration for a family trust established in Malaysia containing residential property and investment portfolios, with the revocation to take effect from March 15, 2025, and assets to revert directly back to me as the settlor."

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Document background
The Trust Revocation Declaration is a crucial document used in Malaysian trust law when a settlor wishes to terminate an existing trust arrangement. This document is typically employed when circumstances have changed significantly since the trust's creation, or when the trust's objectives have been fulfilled or are no longer relevant. The declaration must comply with the Malaysian Trustees Act 1949 and related legislation, requiring proper execution, witnessing, and potentially regulatory notifications. It serves to formally document the settlor's intention to revoke the trust, provide instructions for asset distribution, and discharge the trustees from their duties. The document is particularly important in Malaysia's legal framework, where trust arrangements are commonly used for estate planning, asset protection, and wealth management purposes.
Suggested Sections

1. Declaration Header: Formal title of the document, date, and jurisdiction

2. Declarant Details: Full legal name and address of the settlor/declarant making the revocation

3. Trust Identification: Specific details of the trust being revoked, including its name, date of creation, and any reference numbers

4. Trustee Information: Names and addresses of all current trustees

5. Revocation Authority: Reference to the specific clause in the trust deed that permits revocation

6. Revocation Declaration: Clear and unambiguous statement of revocation

7. Effective Date: Specification of when the revocation takes effect

8. Execution Block: Signature section for the settlor and witnesses

Optional Sections

1. Recitals: Background information about the trust and reasons for revocation, used when additional context is needed

2. Asset Distribution Instructions: Specific instructions for the distribution of trust assets, used when the default reversion to the settlor is not desired

3. Trustee Discharge: Specific provisions regarding the discharge of trustees from their duties, used when additional clarity on trustee liability is needed

4. Tax Declarations: Statements regarding tax implications, used when there are significant tax considerations

5. Beneficiary Acknowledgment: Space for beneficiary acknowledgment or consent, used when beneficiary agreement is required or desired

Suggested Schedules

1. Schedule A - Trust Deed: Copy or details of the original trust deed being revoked

2. Schedule B - Trust Assets: Complete list of current trust assets to be distributed

3. Schedule C - Distribution Instructions: Detailed instructions for the distribution of trust assets (if not reverting to settlor)

4. Appendix 1 - Supporting Documents: Copies of relevant supporting documents such as trustee resolutions or legal opinions

5. Appendix 2 - Consent Forms: Forms for beneficiary consent or acknowledgment where required

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

Private Banking

Real Estate

Family Office

Legal Services

Estate Planning

Asset Management

Corporate Services

Private Client Services

Relevant Teams

Legal

Wealth Management

Trust Services

Private Banking

Compliance

Risk Management

Corporate Services

Estate Planning

Asset Management

Client Relations

Relevant Roles

Trust Officer

Private Banker

Wealth Manager

Estate Planning Attorney

Legal Counsel

Trust Administrator

Compliance Officer

Financial Advisor

Property Manager

Risk Manager

Company Secretary

Private Client Lawyer

Trustee Services Manager

Family Office Manager

Industries
Trustees Act 1949: The primary legislation governing trusts in Malaysia, which provides the legal framework for trust creation, management, and revocation. It defines trustees' powers, duties, and the circumstances under which trusts can be revoked.
Civil Law Act 1956: Provides the legal basis for the application of English common law principles relating to trusts in Malaysia, particularly in areas not covered by specific Malaysian legislation.
National Land Code 1965: Relevant when the trust involves immovable property, as it governs land matters and registration requirements for interests in land, including trust properties.
Stamp Act 1949: Governs the stamp duty requirements for trust documents, including trust revocation declarations, ensuring proper duty is paid on trust-related instruments.
Income Tax Act 1967: Important for understanding the tax implications of trust revocation and the transfer of trust assets back to the settlor or beneficiaries.
Powers of Attorney Act 1949: May be relevant if the trust revocation involves actions by an attorney acting on behalf of the settlor or any other relevant party.
Contracts Act 1950: Relevant for understanding the general principles of contract law that may apply to the trust deed and its revocation, particularly regarding the capacity of parties and validity of declarations.
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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