Revocable Trust
______________, referred to herein as SETTLOR, and _____________, referred to herein as TRUSTEE, (the singular term “TRUSTEE” shall refer to multiple TRUSTEES if multiple TRUSTEES are appointed) in consideration of the covenants and undertakings herein agree:
ARTICLE I
CONVEYANCE OF PROPERTY TO THE TRUSTEE
SETTLOR herewith assigns and conveys to the TRUSTEE, the property described in Exhibit “1” hereto. All of said property, together with any income, accessions and additions herein, shall be held by the TRUSTEE in trust for the purpos t forth in this revocable living trust.
ARTICLE II贝勒医学院
have的过去式是什么REVOCATION
SETTLOR hereby rerves the right to revoke this trust at any time, by written instrument. Revocation shall be effective upon mailing or delivery to the TRUSTEE of a notice of revocation.
TRUSTEE may resign upon ____ days prior written notice to the SETTLOR. For purpos of this agreement, notices shall be delivered as follows:
TO SETTLOR
____________________________
____________________________
____________________________
TO TRUSTEE
___________________________
___________________________
___________________________
ARTICLE III
SUCCESSORS TO THE TRUSTEE. ADDITIONAL TRUSTEES
The SETTLOR during his lifetime may from time to time add additional TRUSTEES by notice to the then existing TRUSTEES. In the event there are multiple TRUSTEES, the majority shall in any matter in which the TRUSTEES disagree control. In the event that the TRUSTEES are evenly divided in the actions to be taken, the TRUSTEE with the longest tenure of rvice shall cast an additional vote to determine the matter.
In the event that any TRUSTEE resigns or is unwilling or incapable of acting, during the SETTLOR’s lifetime, the SETTLOR shall name additional or replacement TRUSTEES. After the SETTLORS death, _____________ shall name the replacements for any TRUSTEES who resign or are unwilling or incapable of acting. If ________ _______ is unwilling or incapable of acting, _____________ shall name the same. In the event that _____________ shall be unwilling or incapable of acting, the Court having jurisdiction over estates and trusts, located in ________ County, State of _________ shall name the successor TRUSTEES.
ARTICLE IV
WITHDRAWALS BY SETTLOR
The SETTLOR may from time to time withdraw any portion of the corpus of the trust (whether capital
or interest) by written notice to the TRUSTEE. The TRUSTEE shall be acquitted of all further responsibility for any asts so delivered upon receipt by the SETTLOR.
ARTICLE V
fq
POWERS OF THE TRUSTEE
The TRUSTEE shall have the power to do all acts, institute all proceedings and exerci all rights, powers and privileges that an absolute owner of the trust property would have, subject always to the discharge of trustee’s fiduciary responsibilities.
I further direct that the TRUSTEE shall act without bond. Further, this TRUST shall be administered without the necessity for an administration thereof to be through the court system.
No entity dealing with the TRUSTEE shall be required to investigate or to confirm the TRUSTEE’s authority to enter into any transaction or to administer the application of the proceeds of any transaction.
ARTICLE VI
COMPENSATION OF TRUSTEE
If the TRUSTEE is an individual, then the TRUSTEE shall rve without compensation, but with reimburment for reasonable and ordinary expens. Nevertheless, the TRUSTEE if an attorney shall be entitled to compensation for legal rvices rendered to the trust, or if an accountant, for accounting rvices rendered to the trust.
If the TRUSTEE is a corporation or banking entity, it shall be entitled to customary, reasonable and ordinary charges and expens incurred in rendering rvices to the estate.
ARTICLE VI
DISPOSITION OF TRUST PROCEEDS
After paying the necessary expens incurred in the management and investment of the trust estate, including compensation as provided for herein, the TRUSTEE shall accumulate the same during the lifetime of the SETTLOR.
After SETTLOR’s death the TRUSTE E shall distribute the net income of the TRUST the following manner:
_________________________________________________________________ Should any benefi
ciary named above die, the TRUSTEE shall distribute the net income to the lineal descendants of the beneficiary. If any beneficiary dies and is not survived by lineal descendants, the distributions from the TRUST shall be adjusted to pro-rata increa all other shares.
ARTICLE VII
INVASION OF PRINCIPAL
After SETTLOR’s death, the TRUSTEE may apply so much of the principal of the trust for the u of the beneficiaries at such time or times as in trustee’s discretion TRUSTEE may deem advisable for their health, education, support and maintenance. Any amounts so applied to the u of any beneficiary shall be charged against, or deducted from, the principal of any share then or thereafter t apart for said beneficiary.
ARTICLE VIII
NON-ASSIGNABILITY OF THE TRUST PROCEEDS
动词的现在分词The interest of the beneficiaries of this trust shall not be assignable, and beneficiaries shall not have the right to pledge, assign, convey, or otherwi transfer, lien or encumber any portion of the income
or principal of the trust. All payments provided for by the beneficiaries herein shall be made directly to them or their guardians as is provided herein. ARTICLE VIII
DISTRIBUTIONS TO MINOR OR INCOMPETENT BENEFICIARIES
The TRUSTEE in his discretion may make payments of income or principal to any minor or incompetent beneficiary by paying the same to the minor or incompetent’s guardian, or to the person having control over the minor or incompetent, or by direct expenditure for the benefit of the minor or incompetent. However, the TRUSTEE may also pay an allowance in such amount as he may fit from time to time to the minor or incompetent. Further, in the discretion of the TRUSTEE the distributions for a minor or incompetent beneficiary may be accumulated and shall thereupon be paid to the minor or incompetent upon their disability being removed. Any payment under this Section shall operate as a full discharge of the TRUSTEE as to such payment.
ARTICLE VIII
ri and fall
ACCOUNTINGS
dhcprelayThe TRUSTEE shall, after the death of the SETTLOR provide a mi-annual accounting to all comp
etent, adult beneficiaries detailing the transactions, if any, of the trust. The same shall not be required to be audited, although the TRUSTEE may, in his sole discretion, may cau an audit to be performed from time to time.
ARTICLE IX
LIQUIDATION OF TRUST
If at any time the total of the principal and income of the trust is less than $ __________, the TRUSTEE, may in his absolute discretion, clo out the trust by paying the proportionate shares of each beneficiary to them. The TRUSTEE shall at that time deliver a final accounting to each beneficiary. Upon payment, the TRUSTEE shall be discharged from all further duties.
ARTICLE X
PERPETUITIES SAVINGS CLAUSE
Notwithstanding anything to the contrary herein contained, the trust created by this agreement shall cea and terminate as is provided in Section IX, 21 years after the death of the last survivor of trustors and all issue of trustors living at the date of this agreement. ARTICLE XI
安然无恙造句DISTRIBUTION OF DIVISION IN KIND
On any distribution from the trust, whether it be an ordinary distribution or one of principal, or a final distribution, the TRUSTEE may apportion and allocate the asts of the trust
estate in cash and partly in kind, in TRUSTEE’s discretion. The valuation, whether bad on an appraisal, or not, made by the TRUSTEE shall be binding on the beneficiaries. ARTICLE XII
thicker
LITIGATION OR COMPROMISE OF CLAIMS
The TRUSTEE may compromi, or abandon, at TRUSTEE’s option any claim or claim against the trust, or subject the same to arbitration. Or, the TRUSTEE, in his absolute discretion, may litigate any claim in favor of or against the estate.
ARTICLE XIII
NOTICE OF EVENTS
Until the TRUSTEE receives notice of any death, birth, marriage, or other event on which the right to receive distributions is bad, the TRUSTEE shall incur no liability for any disburments or distributi
ons made in good faith. This clau shall not prevent the TRUSTEE from eking restitution of any payments made in error in his discretion. ARTICLE XIV
DEFINITIONS- GOVERNING LAW
The words “child”, “children”, “descendants” and “issue” shall include children legally adopted and the lawful descendants of such adoptees.
veryThis trust shall be governed by the laws of _________.
ARTICLE XV
SEVERABILITY
If any provision herein is found by a court of competent jurisdiction to be invalid, the remainder shall govern.
Dated: _______________________________
___________________________________________________
STATE OF _________
托福多少算高分COUNTY OF _________
________________, being duly sworn states that they executed this instrument for the purpos stated herein.
___________________________________________________
Notary Public
My Commission Expires: ___________________
Revocable Trust
Review List
This review list is provided to inform you about this document in question and assist you in its preparation. This is a standard revocable trust document. Feel free to modify it to suit your purpos.
1. Make multiple copies. Keep extras for filing with any registry of deeds if required.
Keep a copy with the transaction file.
