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Trust Revocation Declaration Template for Philippines

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Key Requirements PROMPT example:

Trust Revocation Declaration

"I need a Trust Revocation Declaration under Philippine law to terminate a family trust created in 2020, which holds real estate assets and has multiple beneficiaries, with the revocation to take effect on March 15, 2025."

Document background
The Trust Revocation Declaration is a crucial document used when a settlor wishes to terminate an existing trust arrangement in the Philippines. This document is typically employed when the original trust deed reserves the right of revocation, or when circumstances necessitate the dissolution of the trust structure. The declaration must comply with Philippine trust laws, particularly the Civil Code of the Philippines Articles 1440-1456, and should include comprehensive details about the original trust, asset disposition, and trustee release. This document is essential for high-net-worth individuals, family offices, and corporate entities managing trust structures, requiring careful consideration of tax implications, regulatory compliance, and proper asset transfer procedures.
Suggested Sections

1. Declaration Details: States the date, location, and identification of the person making the declaration (the settlor/trustor)

2. Original Trust Information: References the original trust deed, including its date of creation, registration details, and parties involved

3. Trustee Information: Identifies the current trustee(s) and their appointment details

4. Declaration of Revocation: Clear and explicit statement of the intention to revoke the trust, citing any relevant powers of revocation from the original trust deed

5. Effective Date: Specifies when the revocation takes effect

6. Asset Disposition: Details how the trust assets will be distributed or returned upon revocation

7. Trustee Release: Statement releasing the trustee from their duties and responsibilities after proper accounting and transfer of assets

8. Execution: Space for signatures, witnessing, and notarization requirements

Optional Sections

1. Beneficiary Acknowledgment: Include when beneficiaries need to acknowledge the revocation or when required by the original trust deed

2. Tax Declarations: Include when there are specific tax implications that need to be acknowledged or declared

3. Compliance Statements: Include when the trust involves regulated assets or activities requiring specific compliance declarations

4. Dispute Resolution: Include when there's a need to specify how any disputes arising from the revocation will be handled

5. Foreign Asset Declaration: Include when the trust holds assets in foreign jurisdictions requiring special treatment or declaration

Suggested Schedules

1. Schedule A - Trust Asset Inventory: Detailed list of all trust assets to be distributed or returned upon revocation

2. Schedule B - Final Trust Accounts: Final accounting of the trust's assets, liabilities, and transactions

3. Schedule C - Distribution Plan: Detailed plan for the distribution or return of trust assets, including timing and method

4. Appendix 1 - Original Trust Deed: Copy of the original trust deed and any amendments

5. Appendix 2 - Supporting Documents: Relevant supporting documents such as trustee appointments, powers of attorney, or court orders

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 | Serial Founder & Legal AI Author

Relevant legal definitions








































Clauses

























Relevant Industries

Legal Services

Financial Services

Banking

Real Estate

Wealth Management

Family Office Services

Estate Planning

Private Client Services

Trust Administration

Corporate Services

Relevant Teams

Legal

Compliance

Wealth Management

Trust Administration

Risk Management

Tax Advisory

Client Services

Property Management

Corporate Secretarial

Document Management

Relevant Roles

Trust Officer

Private Client Lawyer

Estate Planning Attorney

Wealth Manager

Financial Advisor

Trust Administrator

Compliance Officer

Legal Counsel

Property Manager

Tax Consultant

Family Office Manager

Corporate Secretary

Risk Management Officer

Portfolio Manager

Client Relations Manager

Industries






Teams

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