A Self Declaration of Trust is commonly used when an individual wishes to create a trust arrangement without transferring assets to other trustees. This document is particularly relevant in situations involving property holding, asset protection, or family wealth management under English and Welsh law. The declaration formally establishes the trust relationship, specifying the trust property, beneficiaries, and terms of the arrangement. It's essential for ensuring clear documentation of trust arrangements and compliance with trust law requirements, particularly where tax planning or asset protection is concerned.
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1. Date and Parties: Details of the settlor/declarant creating the trust
2. Definitions: Key terms used throughout the declaration
3. Trust Property: Clear description of assets being placed in trust
4. Beneficiaries: Clear identification of trust beneficiaries
5. Trustee Powers: Powers granted to trustees in managing the trust
6. Trust Terms: Core terms governing the operation of the trust
1. Appointment and Removal of Trustees: Used when specific provisions for trustee changes are needed beyond statutory powers - particularly relevant for longer-term trusts where trustee succession is important
2. Investment Powers: Specific investment authorities for trustees beyond those provided in the Trustee Act 2000 - used when trust involves significant financial assets
3. Administrative Provisions: Detailed management procedures for complex trusts requiring specific management rules beyond standard statutory provisions
1. Schedule 1 - Trust Property: Detailed inventory of assets placed in trust including full descriptions and values
2. Schedule 2 - Beneficiaries: Detailed information about beneficiaries and their entitlements including any conditions or restrictions
3. Schedule 3 - Trustee Powers: Comprehensive list of trustee powers beyond statutory powers including any specific restrictions or requirements
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