Best Trusts Lawyers in Amman

About Trusts Law in Amman, Hashemite Kingdom of Jordan:

Trusts in Amman, Hashemite Kingdom of Jordan are governed by the Jordanian Trusts Law. A trust is a legal arrangement in which a person (a trustee) holds property on behalf of someone else (a beneficiary). Trusts can be established for various purposes, such as asset protection, wealth management, charitable giving, and estate planning.

Why You May Need a Lawyer:

It is advisable to consult with a lawyer specializing in Trusts in Amman, Hashemite Kingdom of Jordan if you are considering establishing a trust, need help managing or administering an existing trust, or have any legal issues related to trusts. A lawyer can provide guidance on the legal requirements, assist in drafting trust documents, ensure compliance with local laws, and represent you in any legal disputes.

Local Laws Overview:

Key aspects of local laws related to trusts in Amman, Hashemite Kingdom of Jordan include the Trusts Law, which sets out the rules and regulations governing the establishment and administration of trusts. Trusts must be registered with the Ministry of Justice in Jordan, and trustees are legally obligated to act in the best interests of the beneficiaries.

Frequently Asked Questions:

1. What is a trust?

A trust is a legal arrangement in which a person (trustee) holds property on behalf of someone else (beneficiary).

2. How do I establish a trust in Jordan?

To establish a trust in Jordan, you need to create a trust deed outlining the terms and conditions of the trust and register it with the Ministry of Justice.

3. Can I be a trustee and a beneficiary of the same trust?

Yes, it is possible to be both a trustee and a beneficiary of the same trust in Jordan.

4. What are the duties of a trustee in Jordan?

Trustees in Jordan are legally obligated to act in the best interests of the beneficiaries, manage the trust property prudently, and comply with the terms of the trust deed.

5. Can a trust be revoked in Jordan?

In Jordan, a trust can be revoked by the settlor if the trust deed allows for revocation or by court order under certain circumstances.

6. How are trusts taxed in Jordan?

Trusts in Jordan are subject to taxation on any income generated by the trust property. It is advisable to seek advice from a tax lawyer on tax implications related to trusts.

7. Can a trust protect assets from creditors in Jordan?

Assets held in a properly structured trust in Jordan may offer some level of protection from creditors, but it is essential to seek legal advice to ensure the trust is legally sound.

8. What is the role of a settlor in a trust in Jordan?

The settlor is the person who creates the trust by transferring property to the trustee and specifies the terms and conditions of the trust in the trust deed.

9. How can I find a trustworthy trust lawyer in Jordan?

You can ask for recommendations from friends or colleagues, search online for law firms specializing in trusts, or contact the Jordanian Bar Association for referrals to experienced trust lawyers.

10. Are there any specific requirements for charitable trusts in Jordan?

Charitable trusts in Jordan must be created for a lawful charitable purpose and registered with the Ministry of Justice to qualify for tax-exempt status.

Additional Resources:

The Ministry of Justice in Jordan and the Jordanian Bar Association are valuable resources for information on trusts and legal assistance in Amman, Hashemite Kingdom of Jordan.

Next Steps:

If you require legal assistance with trusts in Amman, Hashemite Kingdom of Jordan, it is recommended to schedule a consultation with a trust lawyer to discuss your specific needs and explore your options for protecting your assets and planning for the future.