Declaration Of Trust Sole Owner for the United Kingdom

Declaration Of Trust Sole Owner Template for England and Wales

A Declaration of Trust (Sole Owner) is a legal document under English and Welsh law that establishes a trust arrangement where a single property owner declares that they hold specific assets on trust, either for themselves or for other beneficiaries. This document formally creates the trust relationship, defines the trust property, establishes the terms of the trust, and sets out the powers and duties of the trustee(s). It's particularly useful for property ownership structuring and asset protection purposes.

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What is a Declaration Of Trust Sole Owner?

The Declaration of Trust Sole Owner is commonly used when an individual wishes to create a formal trust structure for their assets while maintaining some control. It's particularly relevant in England and Wales for property ownership, asset protection, and estate planning. This document is essential when a sole owner wants to separate legal and beneficial ownership of assets, perhaps for tax efficiency, asset protection, or family arrangement purposes. The declaration includes detailed information about the trust property, trustee powers, beneficiary rights, and trust administration requirements. It's a flexible tool that can be used for various purposes while maintaining legal compliance with trust law principles.

What sections should be included in a Declaration Of Trust Sole Owner?

1. Parties: Identifies the settlor (original owner) and trustee(s)

2. Background: Explains the context and purpose of creating the trust

3. Definitions: Defines key terms used throughout the declaration

4. Declaration of Trust: The formal declaration creating the trust

5. Trust Property: Detailed description of assets being placed in trust

6. Trustee Powers: Specific powers granted to trustees

7. Trust Terms: Core terms governing the trust's operation

What sections are optional to include in a Declaration Of Trust Sole Owner?

1. Successor Trustees: Provisions for appointing replacement trustees when planning for future trustee changes

2. Trust Duration: Specific terms about trust length when trust is not intended to be perpetual

3. Investment Powers: Specific investment authorities when trust includes investment assets

What schedules should be included in a Declaration Of Trust Sole Owner?

1. Schedule 1 - Trust Property: Detailed inventory of all assets placed in trust

2. Schedule 2 - Trustee Powers: Comprehensive list of trustee powers and authorities

3. Schedule 3 - Property Details: Full property details and title information where real property is involved

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

Jurisdiction

England and Wales

Publisher

Genie AI

Document Type

Trust Deed

Cost

Free to use
Industries

Trustee Act 1925: Core legislation defining trustee powers, duties, and procedures for appointment and retirement of trustees. Forms the fundamental basis for trust administration.

Trustee Act 2000: Modern legislation updating trustee powers, introducing statutory duty of care, and covering delegation of trustee functions and investment powers.

Law of Property Act 1925: Fundamental legislation governing property rights and interests, particularly relevant when trust property includes land or real estate.

Land Registration Act 2002: Governs the registration of trust interests in land, including requirements for restrictions and notices on the property register.

Common Law Trust Principles: Established legal principles including the three certainties (intention, subject matter, objects) and fiduciary duties of trustees.

Inheritance Tax Act 1984: Tax legislation relevant to trust arrangements, particularly regarding inheritance tax implications and planning.

Capital Gains Tax Legislation: Tax provisions governing capital gains implications of trust assets and their disposal.

Income Tax Act 2007: Legislation governing income tax treatment of trust income and distributions.

Human Rights Act 1998: Legislation that may impact trust arrangements, particularly regarding privacy and property rights.

Perpetuities and Accumulations Act 2009: Legislation governing time limits on trust duration and rules against perpetuities in trust arrangements.

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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