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Agreement And Declaration Of Trust

Agreement And Declaration Of Trust Template for Indonesia

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Key Requirements PROMPT example:

Agreement And Declaration Of Trust

"I need an Agreement and Declaration of Trust under Indonesian law to establish a family trust for my three children, transferring my Jakarta property portfolio and investment holdings into trust management by March 2025, with specific provisions for education funding and wealth preservation."

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Document background
The Agreement and Declaration of Trust is a fundamental document used in Indonesian legal practice to establish and govern trust arrangements. It is particularly relevant when individuals or organizations wish to separate the legal ownership of assets from their beneficial ownership, whether for family wealth management, business succession planning, or charitable purposes. The document combines both the declaratory elements required to establish the trust and the contractual elements needed to govern its operation. It must comply with Indonesian Civil Code requirements and financial regulations, making it essential for various scenarios including family wealth preservation, business continuity planning, and charitable endowments. This document type is crucial in Indonesia's civil law system, where trust concepts must be carefully structured to align with local legal frameworks while achieving the intended asset management and protection objectives.
Suggested Sections

1. Parties: Identifies and defines all parties to the trust including settlor, trustee(s), and beneficiaries

2. Background: Sets out the context and purpose for establishing the trust

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

4. Declaration of Trust: Formal declaration establishing the trust and transfer of assets to the trustee

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

6. Trustee Powers and Duties: Comprehensive list of trustee's authorities and responsibilities

7. Rights of Beneficiaries: Specifies the rights and entitlements of the beneficiaries

8. Trust Administration: Procedures for managing the trust, including decision-making processes

9. Income and Capital Distribution: Rules governing how trust income and capital are to be distributed

10. Record Keeping and Accounting: Requirements for maintaining trust records and providing accounts

11. Trustee Remuneration: Details of any fees or compensation for the trustee

12. Duration and Termination: Terms regarding the trust's duration and circumstances for termination

13. Governing Law and Jurisdiction: Confirms Indonesian law governs the trust and specifies jurisdiction

Optional Sections

1. Protector Provisions: Required when a trust protector is appointed to oversee the trustee

2. Investment Powers: Detailed investment guidelines when the trust involves significant investment activities

3. Foreign Asset Provisions: Required when trust includes assets located outside Indonesia

4. Charitable Purposes: Needed for trusts with charitable elements or purposes

5. Successor Trustee Provisions: Detailed processes for trustee replacement or succession

6. Tax Provisions: Specific tax planning arrangements and obligations

7. Special Needs Provisions: Required when beneficiaries have special needs or requirements

8. Conflict Resolution: Detailed dispute resolution procedures beyond standard jurisdiction clause

Suggested Schedules

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

2. Schedule 2 - Beneficiary Details: Full details of beneficiaries and their respective entitlements

3. Schedule 3 - Investment Guidelines: Specific investment parameters and restrictions

4. Schedule 4 - Distribution Rules: Detailed rules and conditions for distributions to beneficiaries

5. Schedule 5 - Trustee Remuneration: Detailed fee structure and payment terms for trustees

6. Appendix A - Required Documentation: List of documents required for trust administration

7. Appendix B - Compliance Checklist: Regulatory compliance requirements under Indonesian law

8. Appendix C - Administrative Procedures: Detailed procedures for trust administration and reporting

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
Agreement
Applicable Law
Beneficiaries
Business Day
Capital
Deed
Distribution Date
Effective Date
Income
Indonesian Civil Code
Investment
Legal Representative
Notice
Parties
Perpetuity Period
Powers
Principal Trust Property
Protector
Settlor
Successor Trustee
Tax Year
Trust
Trust Assets
Trust Bank Account
Trust Distribution
Trust Documents
Trust Income
Trust Period
Trust Property
Trust Purpose
Trustee
Trustee Acts
Trustee Powers
Trustee Remuneration
Trust Terms
Valuation Date
Vesting Date
Working Day
Clauses
Declaration of Trust
Appointment of Trustee
Trust Property
Powers of Trustee
Duties of Trustee
Rights of Beneficiaries
Distribution
Investment
Administration
Accounting and Reporting
Confidentiality
Liability and Indemnification
Remuneration
Resignation and Removal
Successor Trustees
Trust Protector
Amendment
Revocation
Termination
Governing Law
Dispute Resolution
Severability
Notices
Force Majeure
Anti-Money Laundering
Tax Compliance
Asset Transfer
Delegation
Conflicts of Interest
Decision Making
Record Keeping
Property Management
Succession Planning
Relevant Industries

Banking and Financial Services

Wealth Management

Real Estate

Family Business

Corporate Services

Non-Profit and Charitable Organizations

Education

Healthcare

Investment Management

Professional Services

Relevant Teams

Legal

Wealth Management

Trust Administration

Compliance

Risk Management

Private Banking

Corporate Services

Financial Planning

Investment Management

Client Relations

Relevant Roles

Trust Officer

Wealth Manager

Legal Counsel

Corporate Lawyer

Estate Planner

Financial Advisor

Tax Consultant

Compliance Officer

Risk Manager

Trust Administrator

Private Banking Manager

Family Office Director

Corporate Secretary

Investment Manager

Relationship Manager

Industries
Indonesian Civil Code (KUHPerdata): The fundamental law governing contracts, obligations, and agreements in Indonesia, particularly Book III on Contracts and Obligations
Law No. 25 of 2007 on Investment: Regulates investment activities in Indonesia, relevant when the trust involves investment of assets or foreign investment considerations
Law No. 7 of 1983 on Income Tax (as amended): Governs the taxation aspects of trust arrangements, including tax obligations for trustees and beneficiaries
Law No. 40 of 2007 on Limited Liability Companies: Relevant when the trust involves corporate assets or business entities as part of the trust arrangement
Law No. 5 of 1960 on Basic Agrarian Law: Important when the trust involves land or property rights in Indonesia
Law No. 8 of 2010 on Prevention and Eradication of Money Laundering: Ensures compliance with anti-money laundering regulations in trust arrangements
Bank Indonesia Regulation No. 14/17/PBI/2012: Regulates offshore borrowing and other foreign exchange transactions that might be relevant to international trust arrangements
Financial Services Authority (OJK) Regulation No. 27/POJK.03/2016: Governs financial services activities and might be relevant when the trust involves financial institutions or banking 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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