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Family Trust Deed
Personal Law
- Discretionary Trust Structure: The deed establishes a non-vesting trust where beneficiaries do not have automatic rights to assets, allowing trustees full discretion over the timing and nature of distributions.
- Mandatory Independent Oversight: To ensure professional fiduciary standards, the contract requires the appointment of at least one Independent Trustee who is unrelated to the founder or other trustees.
- Perpetual Succession Planning: The definition of beneficiaries extends to descendants in perpetuity and includes provisions for the support of spouses and parents, facilitating long-term family wealth preservation.
- Formal Deadlock Resolution: The agreement includes a specialized conflict resolution mechanism that refers trustee deadlocks to a senior advocate to avoid costly and lengthy court proceedings.
- Comprehensive Trustee Powers: Trustees are granted broad authority to acquire, invest, or dispose of assets, providing the flexibility needed to manage the Trust Fund in a changing economic environment.
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