Sub Trust Agreement

Sub Trust Agreement Template for Australia

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Key Requirements PROMPT example:

"I need a Sub Trust Agreement for an investment property portfolio in Sydney, to be established by March 2025, with specific provisions for foreign beneficiaries and quarterly distribution requirements."

Document background

A Sub Trust Agreement is essential when establishing a subsidiary trust structure within an existing trust arrangement in Australia. This document is commonly used for asset segregation, specific investment purposes, or to create separate beneficial interests for different groups of beneficiaries. The agreement must conform to Australian trust law principles, including state-specific trust legislation and federal tax requirements. It typically includes detailed provisions for trust administration, beneficiary rights, trustee powers, and distribution mechanisms. The Sub Trust Agreement is particularly valuable in complex family arrangements, investment structures, or when ring-fencing specific assets for particular beneficiaries. The document needs to address both the relationship with the head trust and the independent operation of the sub trust, while ensuring compliance with Australian regulatory requirements and tax implications.

Suggested Sections

1. Parties: Identifies all parties to the agreement including the trustee of the main trust, sub trustee, and any appointor

2. Background: Sets out the context of the sub trust creation, relationship with the main trust, and purpose

3. Definitions and Interpretation: Defines key terms and establishes interpretation principles for the agreement

4. Establishment of Sub Trust: Details the creation of the sub trust, initial settlement, and trust property

5. Appointment of Trustee: Specifies the appointment of the sub trustee and their acceptance of the role

6. Powers and Duties of Trustee: Comprehensive list of trustee powers and obligations in managing the sub trust

7. Trust Administration: Rules for day-to-day management, decision-making, and record-keeping

8. Beneficiaries: Identifies and defines the beneficiaries and their entitlements

9. Distribution Rules: Procedures and rules for making distributions to beneficiaries

10. Financial Management: Requirements for financial administration, accounts, and auditing

11. Trustee Remuneration: Provisions for trustee compensation and expense reimbursement

12. Variation and Amendment: Procedures for modifying the trust deed

13. Termination: Circumstances and procedures for terminating the sub trust

14. General Provisions: Standard clauses including governing law, notices, and dispute resolution

Optional Sections

1. Investment Powers: Detailed investment rules and restrictions if specific investment parameters are required

2. Foreign Beneficiary Provisions: Special provisions if beneficiaries include foreign residents

3. Multiple Classes of Units: Required if the sub trust will have different classes of units or beneficiary interests

4. Appointor Provisions: Detailed rules about appointor powers if an appointor role is established

5. Special Purpose Provisions: Specific clauses if the sub trust is established for a particular purpose

6. Perpetuity Period: Special provisions about trust duration if different from standard perpetuity rules

7. Advisory Committee: Framework for an advisory committee if one is to be established

8. Third Party Rights: Provisions relating to rights of external parties if applicable

Suggested Schedules

1. Schedule 1 - Initial Trust Property: Details of assets initially settled on the sub trust

2. Schedule 2 - Trustee Powers: Comprehensive list of specific powers granted to the trustee

3. Schedule 3 - Beneficiary Details: Full details of initial beneficiaries and their respective interests

4. Schedule 4 - Investment Parameters: Detailed investment guidelines and restrictions

5. Schedule 5 - Trustee Remuneration: Detailed fee structure and payment terms

6. Appendix A - Deed of Appointment of Trustee: Pro forma deed for appointing new trustees

7. Appendix B - Compliance Checklist: List of ongoing compliance requirements and deadlines

8. Appendix C - Related Party Transaction Policy: Guidelines for handling related party transactions

Authors

Alex Denne

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Financial Services

Wealth Management

Professional Services

Family Office

Investment Management

Real Estate

Private Equity

Asset Management

Banking

Trust Services

Relevant Teams

Legal

Compliance

Trust Administration

Wealth Management

Tax Advisory

Risk Management

Investment

Client Services

Corporate Governance

Financial Control

Relevant Roles

Trust Manager

Legal Counsel

Tax Advisor

Wealth Manager

Trust Administrator

Compliance Officer

Financial Controller

Investment Manager

Estate Planner

Company Secretary

Risk Manager

Relationship Manager

Family Office Manager

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