Trustee Deed Of Retirement
Trustee Deed Of Retirement
This Deed of Retirement is made to affirm the retirement and cessation of duties by the Trustee from the trust identified herein. This document formalizes the resignation and provides for the seamless transition of responsibilities to the successors or remaining trustees.
I. Parties Involved
[YOUR NAME], residing at [YOUR COMPANY ADDRESS], hereinafter referred to as the "Retiring Trustee." and [YOUR COMPANY NAME], a legal entity duly formed under the laws of [State/Country], hereinafter referred to as the "Trust."
II. Recitals
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The Retiring Trustee is presently a trustee of the Trust, as recorded in the Trust Deed dated [Date of Trust Formation].
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Now, the Retiring Trustee wishes to retire fully and irrevocably from their role as Trustee of the above-named Trust.
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This Deed intends to officially record such retirement and the acceptance of the same by the remaining trustees.
III. Operative Provisions
A. Retirement
The Retiring Trustee hereby retires from the position of Trustee of [YOUR COMPANY NAME], effective as of [Effective Date of Retirement].
B. Release and Indemnity
Upon the effective date of this retirement:
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The Retiring Trustee will be released from any obligations and duties about the role of a trustee of the Trust.
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The remaining trustees agree to indemnify the Retiring Trustee against any claims or liabilities related to acts or activities conducted in good faith while serving as trustee.
C. Notification to Beneficiaries
The Retiring Trustee or the remaining trustees will notify all beneficiaries of the Trust about the trustee's retirement within 30 days of the effective retirement date.
IV. General Provisions
A. Governing Law
This Deed shall be governed by and construed following the laws of the State/Country in which the Trust is established.
B. Entire Agreement
This Deed represents the entire agreement between the Retiring Trustee and the remaining trustees concerning the subject matter hereof and supersedes any prior discussions, agreements, or understandings of any kind.
C. Counterparts
This Deed may be executed in any number of counterparts, each of which shall be deemed an original, but all of which together shall constitute the same instrument.
V. Signature
IN WITNESS WHEREOF, the parties hereto have executed this Deed of Retirement as of [Date of Execution].
[YOUR NAME]
[DATE SIGNED]
[AUTORIZED REPRESENTATIVE NAME]
[YOUR COMPANY NAME]
[DATE SIGNED]
[WITNESS NAME]
[DATE SIGNED]
