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Family Trust Agreement

Family Trust Agreement Template for New Zealand

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Key Requirements PROMPT example:

Family Trust Agreement

"I need a Family Trust Agreement under New Zealand law to protect our family business assets and ensure smooth succession planning, with specific provisions for my three adult children who will be taking over different aspects of the business operations by March 2025."

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Document background
The Family Trust Agreement is a crucial legal instrument used in New Zealand for establishing and governing family trusts, particularly following the implementation of the Trusts Act 2019. This document is essential when individuals or families wish to create a trust structure for protecting assets, managing family wealth, and ensuring efficient intergenerational transfer of property. It contains detailed provisions for trust administration, trustee duties, beneficiary rights, and asset management, while complying with New Zealand's specific trust law requirements. The agreement is particularly relevant in scenarios involving estate planning, asset protection, tax efficiency, and family succession planning, and must be carefully drafted to ensure compliance with current legislation while meeting the specific needs of the family involved.
Suggested Sections

1. Parties: Identifies the settlor(s), initial trustees, and any appointor/protector

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

3. Definitions: Defines key terms used throughout the trust deed

4. Declaration of Trust: Formal establishment of the trust and initial trust property

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

6. Beneficiaries: Defines primary, discretionary, and final beneficiaries

7. Trustee Powers: Details the powers granted to trustees in managing trust assets

8. Trustee Duties: Outlines mandatory and default duties under the Trusts Act 2019

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

10. Administrative Provisions: Procedures for trust administration and decision-making

11. Appointment and Removal of Trustees: Process for changing trustees

12. Variation of Trust: Circumstances and process for amending trust terms

13. Governing Law: Confirms New Zealand law governs the trust

Optional Sections

1. Protector Provisions: Include when appointing a protector to oversee trustee actions

2. Business Operation Provisions: Include when trust will operate or hold business assets

3. Foreign Asset Provisions: Include when trust holds or may hold overseas assets

4. Relationship Property Provisions: Include specific provisions addressing relationship property concerns

5. Investment Strategy Guidelines: Include detailed investment parameters for substantial investment portfolios

6. Conflict Resolution: Include specific dispute resolution procedures for complex family situations

7. Special Needs Provisions: Include when trust provides for beneficiaries with special needs

8. Education Trust Provisions: Include specific provisions for educational funding purposes

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 - Excluded Persons: List of persons explicitly excluded from benefiting from the trust

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

5. Schedule 5 - Trustee 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 - Statutory Requirements: Reference to relevant statutory provisions and compliance requirements

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions



















































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Relevant Industries

Legal Services

Financial Services

Wealth Management

Estate Planning

Private Banking

Tax Advisory

Property Management

Family Office Services

Relevant Teams

Legal

Private Client

Wealth Management

Trust Administration

Estate Planning

Tax Advisory

Private Banking

Family Office

Property Management

Corporate Services

Relevant Roles

Trust Lawyer

Estate Planning Attorney

Private Client Lawyer

Wealth Manager

Financial Planner

Tax Advisor

Trust Administrator

Private Banking Manager

Family Office Manager

Estate Planning Consultant

Property Manager

Trust Accountant

Legal Partner

Senior Associate

Trust Officer

Industries









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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