Document background
The Trustee Release Form is a crucial document in Hong Kong trust administration that provides a formal mechanism for trustees to retire from their role while ensuring proper transfer of trust assets and responsibilities. This document is typically used when a trustee wishes to resign, is being replaced, or when there's a restructuring of trust administration. The form must comply with Hong Kong's Trustee Ordinance and common law requirements, incorporating specific provisions for the release of the retiring trustee from their duties and liabilities. It includes detailed schedules of trust assets, outstanding matters, and necessary documentation, while also addressing any continuing obligations or indemnities. The document serves as a vital protection for all parties involved, providing clarity on the transfer of responsibilities and limiting future liability exposure for the retiring trustee.
