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Flexible Trust Deed

Flexible Trust Deed Template for New Zealand

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Key Requirements PROMPT example:

Flexible Trust Deed

"I need a Flexible Trust Deed to establish a family trust by March 2025 that will hold our family business assets and provide for succession planning, with specific provisions for my three adult children who will be both beneficiaries and future trustees."

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Document background
The Flexible Trust Deed is a sophisticated legal instrument designed for use in New Zealand when establishing a trust that requires adaptability in asset management and distribution. This document type is particularly relevant when settlors wish to create a trust structure that can accommodate changing family circumstances, business needs, or investment strategies over time. The Flexible Trust Deed incorporates all necessary provisions required under the Trusts Act 2019 and related New Zealand legislation, while providing trustees with broad discretionary powers to manage and distribute trust assets effectively. It is commonly used for family trusts, investment trusts, and business succession planning, offering a balance between trustee autonomy and beneficiary protection. The document includes comprehensive provisions for trust administration, powers, and duties, making it suitable for both simple and complex trust arrangements within the New Zealand jurisdiction.
Suggested Sections

1. Parties: Identifies the Settlor(s) and initial Trustee(s) of the trust

2. Background: Sets out the context and intention to establish the trust

3. Definitions and Interpretation: Defines key terms used throughout the deed and interpretation rules

4. Declaration of Trust: Formal declaration establishing the trust and its name

5. Trust Period: Defines the duration of the trust and vesting date

6. Beneficiaries: Defines the primary and discretionary beneficiaries and their rights

7. Trustee Powers: Comprehensive list of powers granted to trustees in managing trust assets

8. Trustee Duties: Mandatory and default duties as per the Trusts Act 2019

9. Income and Capital: Rules for distribution and accumulation of income and capital

10. Appointment and Removal of Trustees: Procedures for changing trustees and requirements for minimum number

11. Trustee Decisions and Meetings: Process for trustee decision-making and meeting procedures

12. Trustee Liability and Indemnity: Extent of trustee liability and right to indemnity from trust assets

13. Trust Administration: General administrative provisions including record-keeping requirements

14. Variation and Termination: Powers and procedures for varying or terminating the trust

Optional Sections

1. Power of Appointment: Additional section when specific powers to appoint or remove beneficiaries are required

2. Foreign Trust Provisions: Required when the trust may have international elements or overseas beneficiaries

3. Business Operation Provisions: Needed when the trust will operate a business or hold business assets

4. Custodian Trustee Provisions: Include when a custodian trustee structure is desired

5. Advisory Trustee Provisions: Required when appointing advisory trustees

6. Settlor's Special Powers: Include when settlor wishes to retain specific powers

7. Relationship Property Provisions: Additional protections regarding relationship property claims

8. Investment Strategy Guidelines: Specific investment parameters beyond standard trustee investment powers

Suggested Schedules

1. Schedule 1 - Initial Trust Property: Details of assets initially settled on the trust

2. Schedule 2 - Named Beneficiaries: List of specifically named beneficiaries and their details

3. Schedule 3 - Trustee Powers: Detailed list of specific powers granted to trustees

4. Schedule 4 - Trustee Remuneration: Details of any agreed trustee remuneration arrangements

5. Schedule 5 - Meeting Procedures: Detailed procedures for trustee meetings and decision-making

6. Appendix A - Execution Requirements: Requirements for proper execution of trust documents

7. Appendix B - Certification: Trustee certificates and declarations required by law

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 legal definitions
Accounting Period
Appointer
Assets
Associated Person
Balance Date
Beneficiary
Capital
Child
Company
Conflict of Interest
Court
Custodian Trustee
Date of Distribution
Descendant
Discretionary Beneficiary
Distribution
Document
Excluded Person
Financial Statements
Final Distribution Date
Income
Investment
Land
Law
Liabilities
Major Asset
Minor
Net Income
New Zealand
Person
Power of Appointment
Primary Beneficiary
Property
Related Party
Related Trust
Relative
Resolution
Settlor
Spouse
Trust
Trust Deed
Trust Fund
Trust Period
Trustee
Trustees Act
Vesting Date
Writing
Year
Clauses
Trust Creation
Trust Property
Trust Period
Beneficiary Rights
Trustee Powers
Trustee Duties
Income Distribution
Capital Distribution
Investment Powers
Property Management
Trustee Appointment
Trustee Removal
Trustee Remuneration
Decision Making
Record Keeping
Financial Reporting
Variation Powers
Termination Powers
Indemnification
Liability Limitation
Conflict Resolution
Asset Distribution
Beneficiary Exclusion
Power of Appointment
Advisory Provisions
Meeting Procedures
Foreign Benefits
Tax Management
Relationship Property
Delegation Powers
Confidentiality
Disclosure Requirements
Amendment Powers
Governing Law
Severability
Relevant Industries

Private Wealth Management

Financial Services

Real Estate

Professional Services

Family Business

Agriculture

Investment Management

Estate Planning

Property Development

Charitable Organizations

Relevant Teams

Legal

Wealth Management

Trust Administration

Private Client Services

Corporate Services

Tax Advisory

Compliance

Risk Management

Investment Management

Estate Planning

Relevant Roles

Trust Lawyer

Estate Planning Attorney

Wealth Manager

Financial Advisor

Tax Consultant

Trust Administrator

Private Client Manager

Family Office Manager

Corporate Trustee

Property Manager

Investment Manager

Compliance Officer

Trust Accountant

Legal Counsel

Risk Manager

Industries
Trusts Act 2019: The primary legislation governing trusts in New Zealand, covering trustee duties, powers, appointments, removals, and core trust principles
Income Tax Act 2007: Governs the taxation of trust income, distributions, and beneficiary tax obligations
Tax Administration Act 1994: Covers administrative aspects of trust taxation, including filing requirements and record-keeping obligations
Property Law Act 2007: Relevant for trusts holding real property and dealing with property transactions
Property (Relationships) Act 1976: Important for understanding how relationship property rights might affect trust assets
Anti-Money Laundering and Countering Financing of Terrorism Act 2009: Compliance requirements for trusts, especially regarding financial transactions and reporting
Financial Markets Conduct Act 2013: Relevant if the trust engages in investment activities or holds financial products
Administration Act 1969: Relevant for estate planning aspects and administration of deceased estates in relation to trusts
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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