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Trust Fund Agreement

Trust Fund Agreement Template for Ireland

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Key Requirements PROMPT example:

Trust Fund Agreement

"I need a Trust Fund Agreement under Irish law for a family wealth management structure, with three trustees and multiple beneficiaries across two generations, including specific investment restrictions for sustainable and ethical investments only."

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Document background
A Trust Fund Agreement is essential for establishing and managing trust arrangements under Irish law. This document is used when individuals or entities wish to create a legal structure for holding and managing assets for the benefit of others. The agreement must comply with Irish trust law, including the Trustee Act 1893 and modern financial regulations. It's particularly relevant for estate planning, wealth management, charitable purposes, and family asset protection. The Trust Fund Agreement details crucial elements such as trust property, trustee powers, beneficiary rights, investment guidelines, and distribution mechanisms. It's commonly used by private clients, financial institutions, and charitable organizations to ensure proper governance and administration of trust assets while meeting regulatory requirements.
Suggested Sections

1. Parties: Identifies the Settlor(s), Trustee(s), and any Protector(s) of the trust

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

3. Definitions: Defines key terms used throughout the agreement

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

5. Trust Purpose: Clear statement of the trust's objectives and intended beneficiaries

6. Powers and Duties of Trustees: Comprehensive outline of trustees' authorities and responsibilities

7. Trust Property Administration: Rules for managing, investing, and distributing trust assets

8. Beneficiary Rights and Interests: Details of beneficiaries' entitlements and distribution provisions

9. Duration and Termination: Term of the trust and circumstances for termination

10. Appointment and Removal of Trustees: Process for changing trustees and minimum number requirements

11. Trustee Remuneration: Terms of trustee compensation and expense reimbursement

12. Governing Law and Jurisdiction: Confirmation of Irish law application and jurisdiction

Optional Sections

1. Protector Provisions: Include when a trust protector is appointed to oversee trustees

2. Charitable Purposes: Required for charitable trusts to ensure compliance with Charities Act 2009

3. Investment Committee: Include when establishing a formal investment committee structure

4. Foreign Asset Provisions: Required when trust holds non-Irish assets

5. Tax Planning Provisions: Include specific tax planning mechanisms if required

6. Letter of Wishes: Non-binding guidance from settlor to trustees

7. Conflict Resolution: Specific dispute resolution procedures beyond court jurisdiction

8. Privacy and Confidentiality: Enhanced confidentiality provisions beyond standard requirements

Suggested Schedules

1. Schedule 1 - Initial Trust Property: Detailed inventory of assets initially settled into the trust

2. Schedule 2 - Beneficiary Details: Full list of beneficiaries and their respective interests

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

4. Schedule 4 - Trustee Powers: Detailed enumeration of specific trustee powers

5. Schedule 5 - Fee Schedule: Detailed breakdown of trustee fees and charging structure

6. Schedule 6 - Distribution Policy: Specific rules and procedures for trust distributions

7. Appendix A - KYC Requirements: Anti-money laundering and due diligence requirements

8. Appendix B - Tax Declarations: Required tax forms and declarations

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
Accumulation Period
Applicable Law
Appointor
Authorised Investments
Beneficiaries
Business Day
Capital
Charitable Purpose
Deed of Appointment
Distribution Date
Effective Date
Excluded Person
Foreign Tax Authority
Income
Initial Property
Investment Advisor
Investment Guidelines
Letter of Wishes
Perpetuity Period
Power of Appointment
Protector
Relevant Tax
Settlor
Settlement
Successor Trustee
Tax Year
Trust
Trust Assets
Trust Fund
Trust Period
Trust Property
Trustee
Trustee Act
Trustees' Powers
Vesting Date
Working Day
Clauses
Trust Declaration
Trust Duration
Trust Property
Investment Powers
Distribution Powers
Trustee Appointment
Trustee Removal
Trustee Duties
Trustee Indemnification
Beneficiary Rights
Protector Powers
Administrative Powers
Investment Restrictions
Distribution Mechanics
Tax Provisions
Amendment Powers
Termination Rights
Governing Law
Jurisdiction
Confidentiality
Anti-Money Laundering
Dispute Resolution
Severability
Force Majeure
Notice Requirements
Successor Trustees
Asset Transfer
Income Distribution
Capital Distribution
Record Keeping
Reporting Requirements
Delegation Powers
Remuneration
Accounting Provisions
Compliance
Relevant Industries

Financial Services

Wealth Management

Private Banking

Legal Services

Tax Advisory

Charitable Organizations

Family Office Services

Estate Planning

Investment Management

Professional Services

Relevant Teams

Legal

Compliance

Wealth Management

Private Banking

Trust Administration

Risk Management

Investment

Tax Advisory

Client Relations

Operations

Relevant Roles

Trust Officer

Wealth Manager

Private Client Lawyer

Tax Consultant

Compliance Officer

Financial Advisor

Estate Planner

Trust Administrator

Investment Manager

Legal Counsel

Risk Manager

Relationship Manager

Fund Administrator

Corporate Trustee

Financial Controller

Industries
Trustee Act 1893: The principal legislation governing trusts in Ireland, setting out trustees' powers, duties, and responsibilities
Land and Conveyancing Law Reform Act 2009: Contains provisions affecting trust law and trustees' powers in relation to land and property held in trust
Capital Acquisitions Tax Consolidation Act 2003: Governs the taxation of trusts and inheritance aspects of trust funds in Ireland
Charities Act 2009: Relevant if the trust has charitable purposes, governing charitable trusts and their regulation
Criminal Justice (Money Laundering and Terrorist Financing) Act 2010: Sets out anti-money laundering requirements applicable to trust arrangements
Succession Act 1965: Relevant for trust arrangements in the context of wills and inheritance
Investment Intermediaries Act 1995: Regulates investment activities which may be relevant for trust fund management
Taxes Consolidation Act 1997: Contains provisions regarding the taxation of trust income and 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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