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Trustee Release Form
"I need a Trustee Release Form for ABC Trust Company's resignation as trustee of a family trust, with comprehensive asset transfer provisions and tax indemnities, to be effective from March 1, 2025."
1. Parties: Details of the trustee being released, the trust, and parties granting the release
2. Background: Context of the trusteeship, appointment details, and reasons for release
3. Definitions: Key terms used in the release form including Trust Property, Trust Deed, Accounts, etc.
4. Confirmation of Accounts: Statement confirming review and acceptance of trust accounts and financial statements
5. Release and Discharge: Formal release of trustee from duties, obligations, and liabilities under the trust
6. Handover Provisions: Details of transfer of trust assets, documents, and responsibilities to new trustee or beneficiaries
1. Continuing Obligations: Specifies any ongoing duties or obligations of the trustee that survive the release
2. Tax Matters: Specific provisions regarding outstanding tax liabilities and obligations
3. Indemnification: Additional indemnity provisions for specific circumstances or risks
1. Schedule 1 - Trust Assets: Comprehensive list of trust assets being transferred
2. Schedule 2 - Account Statements: Final trust account statements and financial reconciliation
3. Schedule 3 - Transfer Documentation: Forms and documents evidencing transfer of assets and responsibilities
4. Schedule 4 - Beneficiary Consents: Copies of written consents from beneficiaries (where required)
Authors
Trust Deed
Trust Property
Trust Assets
Trustee
Outgoing Trustee
Successor Trustee
Beneficiaries
Settlor
Effective Date
Release Date
Accounts
Trust Period
Indemnified Parties
Liabilities
Claims
Trust Documents
Relevant Period
Transfer Date
Handover Documents
Discharge
Release
Governing Law
Trust Powers
Trust Obligations
Accounting Period
Distribution Date
Relevant Jurisdiction
Definitions
Confirmation of Trust Accounts
Release and Discharge
Transfer of Assets
Handover of Documents
Indemnification
Representations and Warranties
Confidentiality
Surviving Obligations
Tax Matters
Further Assurance
Notices
Severability
Entire Agreement
Governing Law
Jurisdiction
Counterparts
Third Party Rights
Assignment
Costs and Expenses
Waiver
Amendment
Force Majeure
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