Deed Of Retirement And Appointment
Deed Of Retirement And Appointment
This Deed of Retirement and Appointment is made effective as of March 18, 2050, by and between [Your Name] (the "Retiring Trustee") legally residing at [Your Address], and [Your Company Name] (the "Appointee"), a company organized and existing under the laws of [Jurisdiction of Your Company], with its principal office located at [Your Company Address].
I. RECITALS
WHEREAS, the Retiring Trustee currently holds the position of Trustee for the trust identified as [Name of Trust] established by [Name of Settlor]; and
WHEREAS, the Retiring Trustee intends to retire fully from all duties and responsibilities about the trusteeship; and
WHEREAS, [Your Company Name], being fully qualified and willing, agrees to be appointed as the new trustee of the said trust;
II. DEFINITIONS
The following terms used in this Deed will have the meanings set forth below:
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"Trust" refers to the trust created by [Name of Settlor] on January 15, 2050, for the benefit of [Names of Beneficiaries].
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"Trust Fund" refers to the entirety of the assets and holdings within the Trust.
III. RETIREMENT
[Your Name], the Retiring Trustee, hereby retires from the role of Trustee of the Trust as described above, and relinquishes all duties, responsibilities, and obligations related thereto effective immediately upon the execution of this Deed.
IV. APPOINTMENT
[Your Company Name] is hereby appointed as the Trustee of the Trust, to assume all duties, responsibilities, and obligations effective immediately upon the execution of this Deed.
V. CONFIRMATION OF TRUST ASSETS TRANSFER
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The Retiring Trustee confirms the transfer of all records, documents, and assets of the Trust to [Your Company Name], the new Trustee.
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The assets transferred include, but are not limited to:
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Real Property located at 123 Maple Street, Springfield
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Investment Accounts listed under Account Numbers 56789, 67890, 78901
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Physical and Intellectual Property related to Company XYZ's proprietary software and patent portfolio
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VI. ACCEPTANCE BY NEW TRUSTEE
By its signature below, [Your Company Name], the New Trustee, accepts its appointment as Trustee of the Trust, confirming its obligation to manage the Trust in accordance with the terms of the Trust Deed and applicable law.
VII. GENERAL PROVISIONS
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This Deed shall be binding upon and inure to the benefit of the parties, their successors, and assigns.
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This Deed may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
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Any dispute arising out of or in relation to this Deed shall be resolved through mediation, or if failing, by arbitration under [Applicable Arbitration Association].
VIII. SIGNATORIES
Retiring Trustee:
[Your Name]
[Date Signed]
New Trustee:
[Authorized Representative Name]
[Your Company Name]
[Date Signed]
NOTARIZATION:
State of [STATE], County of [COUNTY]
On this [DATE], before me, a Notary Public in and for said county and state, personally appeared [Your Name], known to me to be the persons whose names are subscribed to the foregoing instrument, and acknowledged that they executed the same for the purposes therein contained.
[NOTARY PUBLIC NAME]
Notary Public in and for [STATE]
My Commission Expires: [EXPIRATION DATE]