Best Trusts Lawyers in Hashemite Kingdom of Jordan

About Trusts Law in Hashemite Kingdom of Jordan:

Trusts in the Hashemite Kingdom of Jordan refer to legal arrangements where a person (the "settlor") transfers assets to a trustee to hold and manage for the benefit of specific individuals or purposes. Trusts can be established for various reasons, including asset protection, estate planning, charitable purposes, and more.

Why You May Need a Lawyer:

There are several situations where you may require legal assistance in Trusts, such as drafting trust documents, interpreting complex legal terms, resolving disputes among beneficiaries, fulfilling fiduciary duties, and ensuring compliance with local laws and regulations.

Local Laws Overview:

The Trust Law in Jordan is governed by the Civil Code and Law of Real Rights. Under Jordanian law, trusts are recognized and can be established for lawful purposes, including charities, education, and family provision. Trusts must comply with formalities and reporting requirements to be valid and enforceable.

Frequently Asked Questions:

1. Can foreign individuals establish a trust in Jordan?

Yes, foreign individuals can establish trusts in Jordan provided they comply with local laws and regulations.

2. Is there a minimum or maximum duration for a trust in Jordan?

Trusts in Jordan can be established for an indefinite duration unless specified otherwise in the trust instrument.

3. What are the tax implications of setting up a trust in Jordan?

Trusts in Jordan may have tax implications, and it is advisable to consult with a tax advisor or lawyer to understand the tax obligations associated with establishing a trust.

4. Can a trustee be an individual or a corporate entity in Jordan?

Both individuals and corporate entities can act as trustees in Jordan, subject to certain qualifications and restrictions.

5. How can I change the terms of an existing trust in Jordan?

Modifying the terms of an existing trust in Jordan typically requires the consent of all parties involved, including the settlor, trustee, and beneficiaries.

6. What are the duties and responsibilities of a trustee in Jordan?

Trustees in Jordan have fiduciary duties to act in the best interests of the beneficiaries, avoid conflicts of interest, and administer the trust according to the trust instrument and local laws.

7. Can a trust be contested in Jordan?

Trusts in Jordan can be contested under certain grounds, such as fraud, undue influence, lack of capacity, or improper execution of the trust instrument.

8. Are trusts in Jordan confidential?

Trusts in Jordan may provide a level of confidentiality, but certain information related to the trust, such as the names of the settlor and beneficiaries, may need to be disclosed to authorities.

9. What happens to a trust if the trustee resigns or passes away in Jordan?

If a trustee resigns or passes away in Jordan, a successor trustee may be appointed according to the terms of the trust instrument or local laws governing trusts.

10. How can I learn more about trusts in Jordan?

For further information about trusts in Jordan, you can consult legal professionals, government agencies, or legal resources specializing in trust law.

Additional Resources:

For additional resources and information on trusts in the Hashemite Kingdom of Jordan, you may consider reaching out to the Jordanian Bar Association, the Ministry of Justice, or reputable law firms specializing in trust law.

Next Steps:

If you require legal assistance in setting up or managing a trust in Jordan, it is recommended to consult with an experienced trust lawyer who can guide you through the legal processes and ensure compliance with local laws and regulations.