Trust Contract Structure
A Family Trust contract is a comprehensive legal document that defines the relationship between the Settlor, the Trustee, and the Beneficiary. Below is a simplified example of how a standard contract is structured.
1. Fundamental Roles
- Settlor (委託者): The person who owns the assets and starts the trust.
- Trustee (受託者): The family member who manages the assets.
- Beneficiary (受益者): The person who receives the benefits (usually starting with the Settlor themselves).
2. Essential Clauses
Purpose of Trust
States clearly why the trust is formed (e.g., "To ensure the Settlor's care and manage assets for their benefit").
Scope of Authority
Defines what the Trustee can do with the assets (e.g., withdraw cash, manage real estate, pay for medical bills).
Successor Trustee
Specifies who takes over if the original Trustee becomes unable to fulfill their duties.
Termination
Defines when the trust ends (usually upon the death of the Beneficiary) and who receives the remaining assets.
Professional Drafting Support
We provide specialized support to draft a custom contract that meets your family's unique needs and ensures legal validity.