The Inter Vivos Trust Agreement is a vital legal instrument used in India for creating living trusts, allowing individuals or entities to transfer assets during their lifetime to trustees for the benefit of specific beneficiaries. This document is essential when establishing private trusts for family wealth management, charitable purposes, or business succession planning. The agreement must comply with the Indian Trusts Act, 1882, and related legislation including the Registration Act, 1908, and various tax laws. It typically includes detailed provisions for trust administration, asset management, beneficiary rights, and trustee powers. The document is particularly useful for high-net-worth individuals seeking to establish structured asset management systems, protect family wealth, or create charitable foundations, while ensuring compliance with Indian legal requirements and tax regulations.
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1. Parties: Identifies and defines the Settlor(s), Trustee(s), and Beneficiaries with their full legal names and addresses
2. Background: Sets out the context and purpose of creating the trust, including the settlor's intentions and objectives
3. Definitions: Defines key terms used throughout the agreement for clarity and consistency
4. Declaration of Trust: Formal creation of the trust, specifying the trust property and the irrevocable nature of the transfer
5. Trust Properties: Detailed description of all assets being transferred to the trust
6. Appointment and Succession of Trustees: Provisions for appointment, removal, and replacement of trustees
7. Powers and Duties of Trustees: Comprehensive list of trustees' powers and responsibilities in managing the trust
8. Rights and Interests of Beneficiaries: Details of beneficiaries' entitlements and conditions for receiving benefits
9. Distribution Provisions: Rules and guidelines for distributing trust income and capital
10. Trust Administration: Procedures for day-to-day management, decision-making, and record-keeping
11. Duration and Termination: Specification of trust period and circumstances for termination
12. Governing Law and Jurisdiction: Specifies that Indian law governs the trust and establishes jurisdiction for disputes
1. Charitable Purposes: Required if the trust has any charitable objectives or public benefit purposes
2. Investment Powers: Detailed investment guidelines and restrictions, particularly relevant for large trusts with significant financial assets
3. Business Holdings Provisions: Required if the trust holds business interests or operating companies
4. Foreign Assets Provisions: Necessary when trust includes assets located outside India
5. Protector Provisions: Required if a trust protector is appointed to oversee trustees
6. Alternative Dispute Resolution: Optional clause for handling disputes through mediation or arbitration
7. Digital Assets: Required if the trust includes digital assets or cryptocurrency
8. Special Needs Provisions: Required if any beneficiaries have special needs or disabilities
1. Schedule A - Trust Properties: Detailed inventory and description of all initial trust assets
2. Schedule B - Beneficiary Details: Complete list of beneficiaries with their shares and conditions
3. Schedule C - Trustee Powers: Comprehensive enumeration of specific powers granted to trustees
4. Schedule D - Distribution Schedule: Detailed timeline and conditions for trust distributions
5. Appendix 1 - KYC Documents: Copies of identity and address proofs of all parties
6. Appendix 2 - Property Documents: Copies of title deeds and property documents being transferred to trust
7. Appendix 3 - Tax Registrations: Copies of tax registrations and certificates
8. Appendix 4 - Investment Guidelines: Detailed investment policies and restrictions for trust funds
Relevant legal definitions
Agreement
Applicable Law
Assets
Beneficiary
Business Day
Deed of Trust
Distribution Date
Effective Date
Encumbrance
Financial Year
Governing Law
Income
Initial Trust Property
Investment
Legal Representative
Minor
Notice
Person
Principal Trustee
Property
Registered Office
Residuary Estate
Schedule
Settlor
Successor Trustee
Trust
Trust Corpus
Trust Fund
Trust Income
Trust Period
Trust Property
Trust Protector
Trustee
Vesting Date
Working Day
Writing
Year
Indian Territory
Immovable Property
Movable Property
Digital Assets
Tax Year
Charitable Purpose
Distribution
Investment Guidelines
Majority Decision
Trust Administration
Trust Expenses
Trust Records
Trust Resolution
Valuation Date
Applicable Law
Assets
Beneficiary
Business Day
Deed of Trust
Distribution Date
Effective Date
Encumbrance
Financial Year
Governing Law
Income
Initial Trust Property
Investment
Legal Representative
Minor
Notice
Person
Principal Trustee
Property
Registered Office
Residuary Estate
Schedule
Settlor
Successor Trustee
Trust
Trust Corpus
Trust Fund
Trust Income
Trust Period
Trust Property
Trust Protector
Trustee
Vesting Date
Working Day
Writing
Year
Indian Territory
Immovable Property
Movable Property
Digital Assets
Tax Year
Charitable Purpose
Distribution
Investment Guidelines
Majority Decision
Trust Administration
Trust Expenses
Trust Records
Trust Resolution
Valuation Date
Clauses
Parties and Recitals
Definitions
Trust Declaration
Trust Property
Appointment of Trustees
Powers of Trustees
Duties of Trustees
Rights of Beneficiaries
Distribution of Income
Distribution of Capital
Investment Powers
Administrative Powers
Trust Duration
Trust Termination
Successor Trustees
Trustee Compensation
Trust Protector Provisions
Amendment Powers
Governing Law
Dispute Resolution
Tax Provisions
Registration Requirements
Asset Management
Accounting and Reporting
Confidentiality
Severability
Force Majeure
Notices
Execution
Property Schedule
Beneficiary Schedule
Trustee Powers Schedule
Distribution Schedule
Definitions
Trust Declaration
Trust Property
Appointment of Trustees
Powers of Trustees
Duties of Trustees
Rights of Beneficiaries
Distribution of Income
Distribution of Capital
Investment Powers
Administrative Powers
Trust Duration
Trust Termination
Successor Trustees
Trustee Compensation
Trust Protector Provisions
Amendment Powers
Governing Law
Dispute Resolution
Tax Provisions
Registration Requirements
Asset Management
Accounting and Reporting
Confidentiality
Severability
Force Majeure
Notices
Execution
Property Schedule
Beneficiary Schedule
Trustee Powers Schedule
Distribution Schedule
Relevant Industries
Financial Services
Wealth Management
Legal Services
Real Estate
Family Business
Private Banking
Estate Planning
Charitable Organizations
Healthcare
Education
Relevant Teams
Legal
Wealth Management
Trust Administration
Compliance
Tax Advisory
Private Banking
Risk Management
Estate Planning
Financial Advisory
Relevant Roles
Trust Officer
Wealth Manager
Estate Planning Attorney
Private Banker
Tax Consultant
Legal Counsel
Financial Advisor
Trust Administrator
Compliance Officer
Risk Manager
Family Office Manager
Philanthropic Advisor
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