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Revocable Deed Of Trust Template for Malaysia

A Revocable Deed of Trust under Malaysian law is a formal legal document that establishes a trust arrangement where the settlor transfers assets to trustees to manage for the benefit of designated beneficiaries, while retaining the right to modify or revoke the trust during their lifetime. The document is governed by Malaysian law, particularly the Trustee Act 1949 and related legislation, and includes comprehensive provisions for trust administration, asset management, distribution rules, and trustee powers. It provides flexibility for estate planning while maintaining control over assets during the settlor's lifetime.

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What is a Revocable Deed Of Trust?

The Revocable Deed of Trust is a crucial estate planning instrument in Malaysia, commonly used by individuals and families seeking to establish a flexible structure for asset management and distribution while maintaining control during their lifetime. This document is particularly relevant when there's a need to provide for family members or other beneficiaries while retaining the ability to modify arrangements as circumstances change. It operates under Malaysian law, specifically the Trustee Act 1949, and requires careful consideration of tax implications, property laws, and trust administration requirements. The deed typically includes detailed provisions for asset management, trustee powers, beneficiary rights, and distribution mechanisms, making it suitable for both simple and complex trust arrangements involving various types of assets from real estate to investment portfolios.

What sections should be included in a Revocable Deed Of Trust?

1. Parties: Identifies the Settlor, Trustee(s), and named Beneficiaries with their full legal names and addresses

2. Background: Recitals explaining the context and intention to create the trust

3. Definitions: Defines key terms used throughout the deed

4. Declaration of Trust: Formal declaration creating the trust and transferring property to trustees

5. Trust Property: Description of initial trust property and provisions for additions

6. Powers of the Trustees: Detailed powers granted to trustees for managing trust property

7. Duties of Trustees: Obligations and responsibilities of trustees in administering the trust

8. Beneficiaries' Rights: Rights and entitlements of beneficiaries under the trust

9. Distribution Provisions: Rules governing how and when trust property is to be distributed

10. Revocation and Amendment: Settlor's rights and procedures for revoking or amending the trust

11. Appointment and Removal of Trustees: Procedures for changing trustees

12. Governing Law and Jurisdiction: Specifies Malaysian law as governing law and relevant jurisdiction

13. Execution: Formal execution clause and signature blocks

What sections are optional to include in a Revocable Deed Of Trust?

1. Investment Powers: Detailed investment guidelines and restrictions - include when trust involves significant financial assets

2. Trustee Remuneration: Provisions for trustee compensation - include when trustees are professionals

3. Protector Provisions: Appointment and powers of trust protector - include when additional oversight is desired

4. Foreign Asset Provisions: Special provisions for foreign assets - include when trust property includes overseas assets

5. Minor Beneficiary Provisions: Special provisions for underage beneficiaries - include when beneficiaries include minors

6. Incapacity Provisions: Procedures in case of settlor's incapacity - include when settlor wants specific arrangements

7. Business Interest Provisions: Special provisions for managing business interests - include when trust property includes business assets

What schedules should be included in a Revocable Deed Of Trust?

1. Schedule 1 - Trust Property: Detailed inventory and description of initial trust property

2. Schedule 2 - Beneficiaries: Full details of beneficiaries and their respective interests

3. Schedule 3 - Distribution Rules: Specific rules and conditions for trust property distribution

4. Schedule 4 - Trustee Powers: Comprehensive list of specific powers granted to trustees

5. Appendix A - Investment Guidelines: Detailed investment parameters and restrictions

6. Appendix B - Trustee Remuneration Schedule: Fee structure and payment terms for trustees

Authors

Alex Denne

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

Jurisdiction

Malaysia

Publisher

Ƶ

Document Type

Trust Deed

Cost

Free to use

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