Document background
The Declaration of Revocable Trust is a crucial estate planning instrument in the Philippines, designed to facilitate efficient asset management and transfer while providing flexibility and control to the trust creator. This document becomes necessary when individuals seek to establish a structured arrangement for managing their assets during their lifetime and ensuring smooth transition of wealth to their beneficiaries. Created under Philippine jurisdiction and governed by the Civil Code of the Philippines, it allows the settlor to modify or revoke the trust arrangements as circumstances change. The document typically includes detailed provisions about trust assets, trustee powers, beneficiary rights, distribution terms, and succession planning. It's particularly valuable for high-net-worth individuals, business owners, and anyone seeking to protect and manage their assets while maintaining control over their estate plan.
