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Irrevocable Trust Agreement for the United Kingdom

Irrevocable Trust Agreement Template for England and Wales

An Irrevocable Trust Agreement under English and Welsh law is a legally binding document that creates a permanent trust structure where assets are transferred from a settlor to trustees for the benefit of specified beneficiaries. Once established, the trust cannot be modified or revoked, providing certainty for estate planning and asset protection. The agreement details the trust's terms, trustee powers, beneficiary rights, and distribution provisions, all governed by the comprehensive trust law framework of England and Wales.

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What is a Irrevocable Trust Agreement?

The Irrevocable Trust Agreement is a sophisticated legal instrument used when permanent asset transfer and protection are required. This document is particularly relevant in England and Wales, where trust law has evolved over centuries to provide robust protection for beneficiaries and clear guidance for trustees. The agreement is commonly used for estate planning, tax efficiency, asset protection, and charitable giving. It sets out detailed provisions for trust administration, including trustee powers and duties, beneficiary rights, investment guidelines, and distribution mechanisms. Once executed, the irrevocable nature ensures long-term certainty and security for all parties involved.

What sections should be included in a Irrevocable Trust Agreement?

1. Parties: Identifies settlor, trustees, and beneficiaries

2. Background: States intention to create trust and context

3. Definitions: Defines key terms used throughout agreement

4. Trust Property: Describes assets being placed in trust

5. Trust Terms: Core terms of the trust including distribution provisions

6. Trustee Powers: Lists specific powers granted to trustees

7. Trustee Duties: Outlines obligations and responsibilities of trustees

What sections are optional to include in a Irrevocable Trust Agreement?

1. Successor Trustees: Procedure for appointing replacement trustees when specific succession arrangements are desired

2. Trust Protector: Appointment and powers of trust protector when additional oversight is desired

3. Spendthrift Provisions: Protections against creditors when asset protection is a priority

What schedules should be included in a Irrevocable Trust Agreement?

1. Schedule of Initial Trust Property: Detailed list of assets initially settled in trust

2. Schedule of Beneficiaries: Detailed information about beneficiaries and their entitlements

3. Investment Policy Statement: Guidelines for investment of trust assets

4. Trustee Remuneration Schedule: Details of any trustee compensation arrangements

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents

Jurisdiction

England and Wales

Document Type

Trust Agreement

Cost

Free to use

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