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Self Declaration Of Trust

Self Declaration Of Trust Template for Philippines

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Key Requirements PROMPT example:

Self Declaration Of Trust

"I need a Self Declaration of Trust to be drafted by March 2025, declaring myself as trustee of my real estate properties and investment portfolio (valued at approximately 15M PHP) for the benefit of my three children, with specific provisions for distribution when each child reaches 25 years of age."

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Document background
A Self Declaration of Trust is commonly used in the Philippines when an individual wishes to formally establish a trust arrangement while retaining control as the initial trustee. This document is particularly valuable for estate planning, asset protection, and wealth management purposes. It must comply with Philippine law, specifically the Civil Code of the Philippines and relevant trust regulations. The declaration typically includes comprehensive details about the trust property, beneficiary rights, distribution terms, and trustee powers. It's frequently used in family wealth planning, business succession arrangements, and charitable giving structures. The document requires careful drafting to ensure it meets all legal requirements and effectively achieves the settlor's intentions while maintaining compliance with Philippine trust and tax laws.
Suggested Sections

1. Declaration: Opening statement identifying the declarant and establishing their intention to create a trust

2. Parties: Details of the Settlor-Trustee (as the same person in a self-declaration) and their legal capacity

3. Definitions: Key terms used throughout the document defined for clarity and legal certainty

4. Trust Property: Detailed description of the assets being placed in trust

5. Beneficiaries: Identification of the beneficiaries and their respective interests in the trust

6. Powers of the Trustee: Enumeration of the powers granted to the trustee in managing the trust

7. Trust Administration: Rules and procedures for administering the trust

8. Duration of Trust: Specification of the trust period and conditions for termination

9. Distribution Provisions: Rules governing how and when trust assets are to be distributed

10. Governing Law: Specification that the trust is governed by Philippine law

11. Execution: Formal execution clause and signature block

Optional Sections

1. Successor Trustee Provisions: Provisions for appointing successor trustees and transfer of trustee responsibilities

2. Charitable Purposes: Required if the trust has charitable beneficiaries or purposes

3. Investment Guidelines: Specific guidelines for investment of trust assets, particularly relevant for large or complex asset portfolios

4. Tax Provisions: Specific provisions relating to tax treatment and obligations

5. Revocation Rights: Terms under which the trust may be revoked, if it is intended to be revocable

6. Dispute Resolution: Procedures for resolving disputes between beneficiaries or regarding trust interpretation

7. Foreign Asset Provisions: Special provisions for handling foreign assets if the trust includes property outside the Philippines

Suggested Schedules

1. Schedule A - Trust Property: Detailed inventory and description of all assets placed in trust

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

3. Schedule C - Distribution Schedule: Specific timeline or conditions for distributions to beneficiaries

4. Appendix 1 - Asset Valuations: Independent valuations of trust assets where required

5. Appendix 2 - Tax Certificates: Relevant tax documentation and certificates

6. Appendix 3 - Property Documents: Copies of property titles, deeds, or other asset ownership documents

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
Trust
Settlor
Trustee
Initial Trustee
Successor Trustee
Beneficiary
Beneficiaries
Trust Property
Trust Fund
Trust Assets
Trust Income
Trust Capital
Distribution Date
Distribution Period
Effective Date
Trust Period
Trust Powers
Vesting Date
Termination Date
Trust Deed
Declaration
Governing Law
Business Day
Financial Year
Philippine Peso
Proper Law
Trust Expenses
Trust Documents
Legal Representative
Power of Appointment
Accumulated Income
Net Income
Revocation Notice
Trust Administration
Discretionary Power
Clauses
Declaration of Trust
Appointment of Trustee
Trust Property
Trust Powers
Beneficiary Rights
Distribution
Investment Powers
Administrative Powers
Trustee Compensation
Successor Trustees
Trust Duration
Termination
Amendment
Revocation
Governing Law
Tax Provisions
Accounting and Reporting
Liability and Indemnification
Dispute Resolution
Notice Requirements
Severability
Force Majeure
Confidentiality
Assignment
Property Transfer
Asset Management
Income Distribution
Capital Distribution
Trust Expenses
Compliance
Relevant Industries

Wealth Management

Real Estate

Banking and Finance

Family Business

Private Equity

Asset Management

Legal Services

Trust Services

Investment Management

Private Banking

Relevant Teams

Legal

Wealth Management

Trust Administration

Estate Planning

Private Banking

Compliance

Tax Advisory

Asset Management

Investment Advisory

Corporate Services

Relevant Roles

Trust Officer

Estate Planning Attorney

Wealth Manager

Private Banker

Legal Counsel

Corporate Lawyer

Tax Advisor

Financial Planning Manager

Asset Manager

Trust Administrator

Estate Planning Consultant

Compliance Officer

Property Manager

Investment Advisor

Family Office Manager

Industries
Civil Code of the Philippines (Republic Act No. 386): Primary legislation governing trust relationships, property rights, and obligations in the Philippines. Particularly relevant are Articles 1440-1456 which define and regulate express trusts.
National Internal Revenue Code of the Philippines: Covers the tax implications and obligations related to trust creation, transfer of properties into trust, and ongoing trust administration.
Rules of Court (Rule 130): Contains provisions about the authentication and admission of documents, including requirements for notarization and formal documentation of legal declarations.
Anti-Money Laundering Act of 2001 (Republic Act No. 9160): Provides regulations for transparency in financial transactions, including trust arrangements, to prevent money laundering and ensure legitimate trust purposes.
Securities Regulation Code (Republic Act No. 8799): Relevant if the trust involves securities or investment instruments, providing regulations for handling investment properties in trust.
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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