The Indemnity Deed of Trust is a specialized legal instrument used when establishing trust arrangements that require additional protection for trustees or other parties through specific indemnity provisions. This document is particularly relevant in situations involving high-value assets, complex trust structures, or when trustees require enhanced protection against potential claims or liabilities. Under Irish law, this deed combines the traditional elements of trust establishment with comprehensive indemnity provisions, making it suitable for both private wealth management and corporate trust arrangements. The document typically includes detailed provisions about trust property, trustee powers, beneficiary rights, investment parameters, and specific indemnification clauses that protect designated parties from potential losses or liabilities arising from their role in the trust arrangement.
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1. Parties: Identifies and defines all parties to the deed: Settlor, Trustee(s), Beneficiaries, and Indemnifier
2. Background: Recitals explaining the context and purpose of the trust and indemnity arrangement
3. Definitions and Interpretation: Defines key terms used throughout the deed and sets out interpretation rules
4. Declaration of Trust: Formal establishment of the trust and transfer of trust property
5. Indemnity Provisions: Details of the indemnity provided, including scope, limitations, and conditions
6. Trustee Powers and Duties: Comprehensive list of trustees' powers and responsibilities
7. Trust Administration: Procedures for managing the trust and making decisions
8. Duration and Termination: Term of the trust and circumstances for termination
9. Governing Law and Jurisdiction: Confirms Irish law governance and jurisdiction for disputes
1. Protector Provisions: Include when a trust protector is appointed to oversee certain trustee actions
2. Investment Powers: Detailed investment guidelines when trust includes significant financial assets
3. Corporate Trustee Provisions: Additional provisions when one or more trustees are corporate entities
4. Tax Provisions: Specific tax-related clauses when complex tax arrangements are involved
5. Variation Powers: Powers to modify trust terms, included when flexibility is required
6. Letter of Wishes: Reference to supplementary guidance from settlor, when non-binding guidance is desired
1. Schedule 1 - Trust Property: Detailed inventory of assets forming the initial trust property
2. Schedule 2 - Beneficiaries: Full details of beneficiaries and their respective interests
3. Schedule 3 - Trustee Remuneration: Details of trustee fees and expense reimbursement
4. Schedule 4 - Indemnity Terms: Specific terms and conditions of the indemnity arrangement
5. Appendix A - Investment Guidelines: Detailed investment parameters and restrictions
6. Appendix B - Administrative Procedures: Operational procedures for trust administration
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