An Assignment Deed Of Trust is essential when there is a need to change trustees of an existing trust in Singapore. This might occur due to retirement, incapacity, or resignation of existing trustees, or when professional trustees are being appointed to replace individual trustees. The document must comply with Singapore's Trustees Act and related legislation, ensuring proper transfer of legal title to trust assets and continuity of trustee duties. It includes detailed provisions about the trust property being transferred, warranties about the state of the trust, and necessary regulatory compliance requirements. This document is particularly important in Singapore's sophisticated wealth management sector, where trusts are frequently used for estate planning and asset protection.
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1. Parties: Identifies all parties to the deed including the assignor, assignee, and any existing trustees
2. Background: Sets out the context and existence of the original trust, and reasons for assignment
3. Definitions: Defines key terms used throughout the deed
4. Assignment: Details the specific rights, property, and obligations being assigned
5. Consideration: States the consideration (if any) for the assignment
6. Warranties and Representations: Statements of fact about the trust property and authority to assign
7. Execution: Formal execution blocks for all parties
1. Indemnities: Used when protection is needed for incoming/outgoing trustees - include when requested by parties or when significant liabilities exist
2. Tax Provisions: Specific provisions regarding tax treatment - include when tax implications are significant or complex
3. Further Assurance: Obligations to execute further documents if needed - include when future actions might be required to perfect the assignment
1. Schedule of Trust Property: Detailed list of all trust assets being assigned
2. Original Trust Deed: Copy of the original trust deed being assigned
3. Powers of Attorney: If required for execution or future actions
4. Consents: Any required third-party consents to the assignment
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