A Declaration of Trust for Shares is commonly used in the United States when there's a need to separate legal and beneficial ownership of company shares. This document is essential for estate planning, family business succession, employee share schemes, and other situations requiring structured share ownership. The declaration details the trust's terms, trustee powers, beneficiary rights, and complies with both federal securities laws and state trust regulations. It provides a clear framework for share management while protecting the interests of all parties involved.
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1. Parties: Identification of settlor, trustee(s), and beneficiaries
2. Background: Context and purpose of the trust creation
3. Definitions: Key terms used throughout the declaration
4. Trust Property: Description of shares being held in trust
5. Trustee Powers: Enumeration of trustee authorities and responsibilities
6. Distribution Provisions: Rules for distributing trust income and capital
7. Duration: Term of the trust and termination conditions
1. Successor Trustees: Provisions for appointment of replacement trustees when continuity planning is required
2. Investment Powers: Specific investment authorities granted to trustees when trust includes active investment management
3. Voting Rights: Provisions regarding exercise of share voting rights when shares carry voting rights
1. Schedule A - Trust Property: Detailed list of shares held in trust including share certificates
2. Schedule B - Beneficiary Details: Full information about beneficiaries and their entitlements
3. Schedule C - Company Information: Details of the company whose shares are held in trust
4. Appendix 1 - Trustee Remuneration: Details of any fees or compensation for trustees
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