Your Business Pak/BusinessPak2.iso/Pca/_SETUP.1/3270.BLD

Text File | 1997-07-22 | 13KB | 390 lines

#3270
@001 Enter the name of the SETTLOR (person making the trust)
~Enter the name of the person who is making the trust (the
~settlor)
@002 Name the initial TRUSTEE:
~Enter the name of the first trustee; this is usually the
~same person who is making the trust
@320 Enter first line of address of SETTLOR:
~Enter the first line of the street address of the person
~making the trust (the settlor)
@321 Enter second line of address of SETTLOR:
~Enter the second line of the the address of the person
~making the trust (if not needed, just tap enter)
@323 Enter the third line of address of SETTLOR:
~Enter the city, state, zip code of the settlor's address
@324 Enter the first line of address of TRUSTEE:
~Enter the first line of the street address of the trustee
@325 Enter the second line of address of TRUSTEE:
~Enter the second line of the street address of the trustee
~if not needed, just tap the enter key
@326 Enter the third line of address of TRUSTEE:
~Enter the city, state, zip code of the settlor's address
@003 Name person to designate new trustees after death:
~Enter the name of the person to designate the new trustee
~after the death of the settlor
@004 Name alternate person to designate new trustee:
~Enter the name of the person who will select the new trustee
~if the first choice cannot
@327 Enter county of probate court for 2nd alternate appointment:
~Enter the county, parish, judicial district or borough of the
~court to select the trustee in the event that the second choice
~cannot select
@328 Enter state of the court:
~Enter the state of the court
@329 Enter distribution of trust (or refer to exhibit):
~Enter the distribution of the trust assets to be made after
~the death of the settlor (person making the trust)
@330 Enter amount of money for trust to be terminated:
~Enter the sum of money remaining in the trust when the
~trust should be ended (due to administrative costs, extremely
~small living trusts are best ended)
@331 Enter governing law (state):
~Select the state law that should be applied to the trust;
~usually should be the same as the state of residence of the
~settlor; or the state where the majority of the assets are
@332 Enter state where prepared:
~Please enter the state where the trust is executed
@333 Enter county where prepared:
~Please enter the county, parish, judicial district or borough
~where the trust is executed
@400/@400 Select the pronoun for the settlor:
~Select which pronoun will be used in the document.
he
she
#end control section
#3270
/* Para. 3270 General form for a revocable simple trust */


                         REVOCABLE TRUST


@001, referred to herein as SETTLOR, and @002, 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 purposes set forth in this
revocable living trust.

                           ARTICLE II

                           REVOCATION

SETTLOR hereby reserves 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 30 days prior written notice to the
SETTLOR. For purposes of this agreement, notices shall be
delivered as follows:


TO SETTLOR

@320

@321

@323


TO TRUSTEE


@324

@325

@326


                           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 service 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, @003 shall name the replacements for any TRUSTEES who
resign or are unwilling or incapable of acting. If @003 is
unwilling or incapable of acting, @004 shall name the same. In
the event that @004 shall be unwilling or incapable of acting,
the Court having jurisdiction over estates and trusts, located in
@327 County, State of @328 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 assets so delivered upon receipt
by the SETTLOR.


                            ARTICLE V

                      POWERS OF THE TRUSTEE


The TRUSTEE shall have the power to do all acts, institute all
proceedings and exercise 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 serve
without compensation, but with reimbursement for reasonable and
ordinary expenses. Nevertheless, the TRUSTEE if an attorney shall
be entitled to compensation for legal services rendered to the
trust, or if an accountant, for accounting services rendered to
the trust.


If the TRUSTEE is a corporation or banking entity, it shall be
entitled to customary, reasonable and ordinary charges and
expenses incurred in rendering services to the estate.



                           ARTICLE VII

                  DISPOSITION OF TRUST PROCEEDS


After paying the necessary expenses 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 TRUSTEE shall distribute the net income
of the TRUST the following manner:


@329


Should any beneficiary 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 increase all other shares.



                           ARTICLE VIII

                      INVASION OF PRINCIPAL



After SETTLOR's death, the TRUSTEE may apply so much of the
principal of the trust for the use 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 use of any beneficiary shall be
charged against, or deducted from, the principal of any share
then or thereafter set apart for said beneficiary.



                          ARTICLE IX

             NON-ASSIGNABILITY OF THE TRUST PROCEEDS


The interest of the beneficiaries of this trust shall not be
assignable, and beneficiaries shall not have the right to pledge,
assign, convey, or otherwise 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 X

       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 XI

                           ACCOUNTINGS


The TRUSTEE shall, after the death of the SETTLOR provide a semi-
annual accounting to all competent, 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 cause an audit to be performed from time to time.


                           ARTICLE XII

                      LIQUIDATION OF TRUST


If at any time the total of the principal and income of the trust
is less than $ @330, the TRUSTEE, may in his absolute discretion,
close 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.


                            SECTION XIII

                   PERPETUITIES SAVINGS CLAUSE


Notwithstanding anything to the contrary herein contained, the
trust created by this agreement shall cease 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.


                           SECTION XIV

                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 assets of the trust estate
in cash and partly in kind, in TRUSTEE's discretion. The
valuation, whether based on an appraisal, or not, made by the
TRUSTEE shall be binding on the beneficiaries.


                            SECTION XV

               LITIGATION OR COMPROMISE OF CLAIMS

The TRUSTEE may compromise, 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.


                          SECTION XVI

                        NOTICE OF EVENTS


Until the TRUSTEE receives notice of any death, birth, marriage,
or other event on which the right to receive distributions is
based, the TRUSTEE shall incur no liability for any disbursements
or distributions made in good faith. This clause shall not
prevent the TRUSTEE from seeking restitution of any payments made
in error in his discretion.

                           SECTION XVII

                   DEFINITIONS- GOVERNING LAW


The words "child", "children", "descendants" and "issue" shall
include children legally adopted and the lawful descendants of
such adoptees.


This trust shall be governed by the laws of @331.


                         SECTION XVIII

                          SEVERABILITY


If any provision herein are found by a court of competent
jurisdiction to be invalid, the remainder shall govern.


Dated: _______________________________







___________________________________________________

@001


STATE OF @332
COUNTY OF @333

@001, being duly sworn states that @400 executed this instrument
for the purposes stated herein.



___________________________________________________

Notary Public


My Commission Expires: ___________________