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Beneficial Trust Agreement

Beneficial Trust Agreement Template for Indonesia

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Key Requirements PROMPT example:

Beneficial Trust Agreement

"I need a Beneficial Trust Agreement under Indonesian law to establish a family trust for managing my real estate portfolio and investment assets, with quarterly distributions to my three children and specific provisions for educational expenses until January 2025."

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Document background
The Beneficial Trust Agreement is a crucial legal instrument used in Indonesia when establishing formal trust arrangements for asset management, wealth transfer, and succession planning. This document is essential when individuals or entities (settlors) wish to transfer assets to be managed by a professional trustee for the benefit of specified beneficiaries, while ensuring compliance with Indonesian regulations, particularly OJK Regulation No. 27/POJK.03/2015 and related trust services regulations. The agreement becomes necessary in situations involving estate planning, family wealth management, charitable giving, or corporate restructuring, and must address specific Indonesian requirements regarding beneficial ownership transparency, anti-money laundering compliance, and financial services regulations. The document typically includes detailed provisions about trust assets, management responsibilities, distribution mechanisms, and reporting requirements, making it particularly relevant for high-net-worth individuals, family businesses, and corporate entities seeking structured asset management solutions within Indonesia's legal framework.
Suggested Sections

1. Parties: Identifies and defines the Settlor, Trustee, and Beneficiaries with their complete legal details

2. Background: Sets out the context and purpose of the trust arrangement and the intention of the Settlor

3. Definitions: Defines key terms used throughout the agreement

4. Declaration of Trust: Formal establishment of the trust and transfer of assets from Settlor to Trustee

5. Trust Assets: Detailed description of the initial trust property and provisions for additional contributions

6. Powers and Duties of Trustee: Comprehensive outline of Trustee's authorities, responsibilities, and limitations

7. Rights and Interests of Beneficiaries: Specifies the nature and extent of beneficiaries' interests in the trust

8. Distribution Provisions: Rules and conditions governing the distribution of trust income and capital

9. Trust Administration: Procedures for day-to-day management, record-keeping, and reporting

10. Duration and Termination: Terms regarding the trust period and circumstances for termination

11. Governing Law and Jurisdiction: Confirms Indonesian law governance and jurisdiction for disputes

12. Amendment Provisions: Procedures for modifying trust terms if permitted

13. Execution and Attestation: Formal execution requirements and witness provisions

Optional Sections

1. Protector Provisions: Include when a trust protector is appointed to oversee certain aspects of trust administration

2. Investment Guidelines: Include when specific investment parameters or restrictions need to be established

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

4. Successor Trustee Provisions: Include when specific succession planning for trustees is required

5. Anti-Money Laundering Compliance: Include when trust involves significant financial transactions or international elements

6. Tax Planning Provisions: Include when specific tax optimization strategies are part of trust purpose

7. Conflict Resolution Procedures: Include when specific dispute resolution mechanisms beyond court jurisdiction are desired

Suggested Schedules

1. Schedule A - Trust Assets: Detailed inventory and description of initial trust assets

2. Schedule B - Beneficiary Details: Complete information about beneficiaries including contact details and distribution preferences

3. Schedule C - Administrative Procedures: Detailed procedures for trust administration and reporting requirements

4. Schedule D - Fee Structure: Trustee compensation and fee arrangements

5. Schedule E - Investment Policy: Detailed investment guidelines and restrictions

6. Appendix 1 - Required Documentation: List of documents required for trust establishment and ongoing compliance

7. Appendix 2 - Reporting Templates: Standard forms for periodic reporting and communications

8. Appendix 3 - Compliance Checklist: Checklist of regulatory requirements and periodic compliance tasks

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
Assets
Beneficial Interest
Beneficial Owner
Beneficiary
Business Day
Confidential Information
Designated Account
Distribution Date
Effective Date
Encumbrance
Financial Year
Force Majeure
Governing Law
Income
Initial Trust Property
Investment
Investment Guidelines
Material Adverse Effect
Net Income
OJK
Parties
Permitted Investments
Power of Attorney
Principal
Protector
Regulatory Authority
Related Party
Relevant Documents
Settlor
Successor Trustee
Tax
Trust
Trust Account
Trust Period
Trust Property
Trust Purpose
Trustee
Trustee Powers
Trustee Services
Ultimate Beneficial Owner
Vesting Date
Working Hours
Clauses
Appointment of Trustee
Declaration of Trust
Trust Property
Beneficiary Rights
Distribution
Powers of Trustee
Duties of Trustee
Investment Authority
Asset Management
Confidentiality
Record Keeping
Reporting Requirements
Fees and Expenses
Liability and Indemnification
Regulatory Compliance
Anti-Money Laundering
Amendment
Termination
Resignation and Removal
Successor Trustee
Force Majeure
Governing Law
Dispute Resolution
Notices
Assignment
Severability
Entire Agreement
Representations and Warranties
Tax Provisions
Asset Registration
Protector Provisions
Accounting and Auditing
Communication Protocol
Delegation Authority
Survivorship
Relevant Industries

Financial Services

Banking

Wealth Management

Real Estate

Family Business

Corporate Services

Legal Services

Estate Planning

Asset Management

Private Banking

Trust Services

Relevant Teams

Legal

Compliance

Wealth Management

Trust Administration

Private Banking

Risk Management

Corporate Services

Tax Advisory

Estate Planning

Regulatory Affairs

Relevant Roles

Trust Officer

Wealth Manager

Private Banker

Legal Counsel

Compliance Officer

Estate Planning Advisor

Financial Advisor

Asset Manager

Trust Administrator

Risk Manager

Corporate Secretary

Tax Advisor

Relationship Manager

Trust Operations Manager

Regulatory Affairs Officer

Industries
Indonesian Civil Code (KUHPerdata): Provides the fundamental legal framework for contracts and agreements in Indonesia, including basic principles of trust arrangements and contractual obligations
OJK Regulation No. 27/POJK.03/2015: Regulates trust service activities in the banking sector, including requirements for trust agreements and the roles and responsibilities of trustees
Law No. 8 of 2010: Concerning Prevention and Eradication of Money Laundering - relevant for beneficial ownership arrangements and verification requirements
Presidential Regulation No. 13 of 2018: Regulates the implementation of beneficial ownership principles and transparency requirements for legal entities
Minister of Law and Human Rights Regulation No. 15 of 2019: Details the procedures for beneficial ownership reporting and documentation requirements
Law No. 7 of 1983 as amended: Income Tax Law - relevant for tax implications of trust arrangements and benefits received by beneficiaries
OJK Regulation No. 25/POJK.03/2016: Covers transparency requirements for financial institutions, including those handling 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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