This required section requests information regarding the parties to the Joint Living Trust. It includes provisions regarding the purpose, funding, and management of the Trust. Press [Ctrl+F1] for more information.
This required section explains distributions that will be made to the Grantors during their joint lives and includes provisions regarding the possibility of a Grantor becoming "disabled".
This required section provides for the continuation of the Trust upon the death of one of the Grantors.
This optional section permits the distribution of specific property to named beneficiaries. Press [Ctrl+F1] for more information.
This required section provides for the distribution of the Trust assets upon the death of the surviving Grantor. Press [Ctrl+F1] for more information.
This required section includes standard powers for the Trustee. Press [Ctrl+F1] for more information.
This optional section includes optional Trustee powers. Press [Ctrl+F1] for more information.
This recommended section provides for a successor Trustee and contains other provisions related to the Trustee.
This optional section allows a Grantor to control the investments of the Joint Living Trust unless such Grantor is not mentally competent. Press [Ctrl+F1] for more information.
This section describes how the Grantors can revoke or amend the Trust. After a Grantor dies, the surviving Grantor can continue to receive Trust distributions or revoke the Trust. Press [Ctrl+F1] for more information.
This required section specifies the state whose laws will govern the interpretation of the provisions of the Joint Living Trust.
This required section provides protection against the laws of some states that invalidate trusts that would otherwise continue to exist for several generations after the death of the Grantors.
This required section provides that the entire document will not be invalid simply because one of its provisions was (or became) invalid under state or federal law.
This required section provides miscellaneous provisions that clarify how the Joint Living Trust should be interpreted.
This optional section allows the Grantors to state whether they have children, and provides a space to state the name(s) of the Grantors' child(ren) if desired.
This optional section allows the Grantors to state the names of persons or organizations who will be intentionally excluded from receiving distributions from the Trust.
This required section provides for the signatures of the Grantors and the Trustees. Press [Ctrl+F1] for more information.
Times New Roman
Joint Living Trust
JLTRUS
A Joint Living Trust is created to manage a couple's assets during their lives, and to distribute their assets upon their deaths in a manner similar to a will.
A Joint Living Trust is prepared for two "Grantors". Enter the name of either Grantor or edit the information as desired. Use the P.I. Manager to select and paste a record.
Enter the name of the other Grantor or use the P.I. Manager to select and paste a record.
Enter the Grantors' state/province or edit the information as desired.
Enter an X if the remaining assets of the Trust should be distributed to the Grantors' children.
Enter the age that the youngest child of the Grantors should attain before final distribution of the trust assets will begin.
Enter the name of the child or use the P.I. Manager to select and paste a record.
Enter the name of the first child or use the P.I. Manager to select and paste a record.
Enter the name of the second child or use the P.I. Manager to select and paste a record.
Enter the name of the third child or use the P.I. Manager to select and paste a record.
Enter the name of the fourth child or use the P.I. Manager to select and paste a record.
Enter the name of the fifth child or use the P.I. Manager to select and paste a record.
Enter the name of the sixth child or use the P.I. Manager to select and paste a record.
Enter the name of the seventh child or use the P.I. Manager to select and paste a record.
Enter the name of the eighth child or use the P.I. Manager to select and paste a record.
Enter the name of the ninth child or use the P.I. Manager to select and paste a record.
Enter the name of the tenth child or use the P.I. Manager to select and paste a record.
Enter an X if there will be only one Trustee (the person or institution who will administer the terms of the Joint Living Trust). In many cases, both Grantors will wish to be Trustees.
Enter an X if there will be two Trustees (the persons or institutions who will administer the terms of the Joint Living Trust). In many cases, both Grantors will wish to be Trustees.
Enter the Trustee's name or use the P.I. Manager to select and paste a record. Often one of the Grantors serves as the Trustee.
Enter the Co-Trustee's name or use the P.I. Manager to select and paste a record. Often both Grantors serve as the Trustees.
Enter an X if specific distributions will be included in the Joint Living Trust after the death of either or both Grantors. A specific distribution is a gift of a specific item or asset to a named person or entity. For example, a wedding ring, $1,000, an antique, or a car. Press [Ctrl+F1] for more information.
Enter the state where the Joint Living Trust will be signed or edit the information as desired. The program will provide the appropriate acknowledgement form for the state that is entered here.
The program selects "Sole Trustee" by transferring your choice from the first section. If you wish to name Co-Trustees, you must return to that section.
Enter an X if the Sole Trustee is a corporation, rather than an individual.
If known, enter the name of the officer who will sign on behalf of the Sole Trustee or use the P.I. Manager to select and paste a record.
The program selects "Co-Trustees" by transferring your choice from the first section. If you wish to name a Sole Trustee, you must return to that section.
Enter an X if the first Co-Trustee is a corporation, rather than an individual.
If known, enter the name of the officer who will sign on behalf of the first Co-Trustee or use the P.I. Manager to select and paste a record.
If known, enter the officer's title.
Enter an X if the second Co-Trustee is a corporation, rather than an individual.
If known, enter the name of the officer who will sign on behalf of the second Co-Trustee or use the P.I. Manager to select and paste a record.
Enter a description of the specific distribution to be made. For example, "wild rose china" or "1957 Chevy".
Enter the name of the person or entity ("Primary Beneficiary") who will receive the distribution or use the P.I. Manager to select and paste a record.
Enter the name of a Contingent Beneficiary who will receive the amount or item if the first choice does not survive the Grantor. If no Contingent Beneficiary is specified, the amount or item will be added to the residuary assets of the Trust. Use the P.I. Manager to select and paste a record.
Enter an X to include an additional specific distribution.
Enter an X to include additional specific distributions. The program permits a maximum of 20 specific distributions.
Enter a description of the distribution to be made. For example, "wild rose china" or "1957 Chevy".
JLT01
JOINT LIVING TRUST
! Opening Section (1 of 17)
JOINT LIVING TRUST
This Joint Living Trust Agreement (this "Agreement") is made this ____ day of ____________________, ____ between ! and ! (the "Grantors or Beneficiaries") of !, ! and
! [Sole Trustee option] ! of !, ! (the "Trustee").
! [Co-Trustees option] ! of !, !, and ! of !, ! (collectively, the "Trustee").
[optional amendment paragraph]
! This Agreement amends and restates the ! !, dated !, and shall continue to be known as the
"! !, dated !".
In consideration of the mutual covenants and promises set forth in this Agreement, the Grantor and the Trustee agree as follows:
!. PURPOSE. The purpose of this Agreement is to establish a Trust to receive and manage assets for the benefit of the Grantors during the Grantors' lives, and to further manage and distribute the assets of the Trust upon the death of the surviving Grantor.
!. FUNDING OF TRUST. This Trust shall be funded with assets transferred to this Trust by either or both of the Grantors at the time of creating this Trust, or at any later time. Any community property transferred to this Trust shall remain community property until the death of either Grantor. This Trust may also receive property from any person or entity who is acting under the authority granted to that person or entity by the Grantors. It is also expected that this Trust may receive assets pursuant to the terms of either of the Grantors' Last Will and Testament.
!. MANAGEMENT OF TRUST ASSETS. The Trustee shall manage and distribute the trust assets for the benefit of the Beneficiaries in accordance with the terms of this Agreement.
Enter a title for the Joint Living Trust. The title should contain both Grantors' names (for example, "JOHN H. AND MARY F. DOE" JOINT LIVING TRUST).
A Joint Living Trust is prepared for two "Grantors". Enter the name of either Grantor or edit the information as desired. Use the P.I. Manager to select and paste a record.
Enter the name of the other Grantor or use the P.I. Manager to select and paste a record.
Enter the Grantors' city or edit the information as desired.
Enter the Grantors' state/province or edit the information as desired.
Enter an X if there will be only one Trustee (the person or institution who will administer the terms of the Joint Living Trust). In many cases, both Grantors will wish to be Trustees.
Enter the Trustee's name or use the P.I. Manager to select and paste a record. Often one of the Grantors serves as the Trustee.
Enter the Trustee's city or edit the information as desired.
Enter the Trustee's state/province or edit the information as desired.
Enter an X if there will be two Trustees (the persons or institutions who will administer the terms of the Joint Living Trust). In many cases, both Grantors will wish to be Trustees.
Enter the Co-Trustee's name or use the P.I. Manager to select and paste a record. Often both Grantors serve as the Trustees.
Enter the Co-Trustee's city or edit the information as desired.
Enter the Co-Trustee's state/province or edit the information as desired.
Enter an X if this Joint Living Trust is being prepared to make some changes to a prior Joint Living Trust which is currently in operation. Press [Ctrl+F1] for more information.
Enter the title of the prior Joint Living Trust or edit the information as desired.
Complete the title of the prior Joint Living Trust or edit the information as desired. If this field is left blank, it will not be printed.
Using the format MM/DD/YYYY, enter the date that the prior Joint Living Trust was signed.
JLT02
! Distributions To Grantors Section (2 of 17)
!. DISTRIBUTIONS DURING THE LIVES OF THE GRANTORS. During the joint or survivor lives of the Grantor(s), the Trustee shall distribute to or for the benefit of the Grantor(s), or as the Grantor(s) may designate, as much of the net income and/or principal as the Trustee (in the Trustee's sole discretion) may determine is necessary for the health, support, education, maintenance, and comfort of the Grantor(s). Such distributions shall be made at least !. The Grantor(s) may change the amount of distribution at any time by providing notice to the Trustee. Any excess income shall be retained in the Trust and added to its principal at the discretion of the Trustee.
A. Payments During a "Disability" of a Grantor. During any period that a Grantor has a "disability", the Trustee may pay to or for the benefit of such Grantor such amounts of income and principal as the Trustee believes in the Trustee's sole discretion to be required for (i) such Grantor's support, comfort and welfare, (ii) such Grantor's accustomed manner of living, or (iii) any purpose that the Trustee believes to be in the best interest of such Grantor.
B. Disability Defined. For the purposes of this Trust, "disability" shall mean a legal disability or the inability to provide prompt and intelligent consideration to financial matters by reason of illness or mental or physical disability. The determination of whether a Grantor has a disability shall be made by such Grantor's most recent attending physician. The Trustee shall be entitled to rely on written notice of that determination.
Enter the frequency of the distributions to the Grantors.
JLT03
! Grantor's Death Section (3 of 17)
!. DEATH OF A GRANTOR. Upon the death of the first of the Grantors to die (the "Decedent"), this trust shall continue for the benefit of the surviving Grantor (the "Surviving Grantor"), subject to distributions (if any) that may be required (i) by this Agreement, or (ii) to pay the just debts, funeral expenses, and expenses of last illness of the Decedent.
!. Thirty Day Survival Requirement. For the purposes of determining the appropriate distributions under this Trust, no person or organization shall be deemed to have survived the Grantor making the distribution, unless such person or entity is also surviving on the thirtieth day after the date of that Grantor's death.
!. Common Disaster. If the Grantors die under circumstances such that there is no clear or convincing evidence as to the order of their deaths, or if it is difficult or impractical to determine which person survived the death of the other person, it shall, for the purpose of distribution of any life insurance, property passing under any will or other contracts, if any, and property passing under this Trust, be conclusively presumed that!
! predeceased
! survived
Enter an X to include a provision which requires that beneficiaries survive the Grantor by 30 days in order to receive distributions under this Trust.
Enter an X to include a provision which specifies the order of death between the Grantors. When estate tax planning is an important consideration, it is common to provide that the spouse with the smaller estate is deemed to survive in the event of simultaneous death.
Enter the name of either Grantor or edit the information as desired. Use the P.I. Manager to select and paste a record.
Enter an X if the Grantor listed first should be presumed to die BEFORE the other Grantor.
Enter an X if the Grantor listed first should be presumed to die AFTER the other Grantor.
Enter the name of the other Grantor or edit the information as desired. Use the P.I. Manager to select and paste a record.
JLT04
! Optional Distributions of Personal Property Section (4 of 17)
!. Distributions of Specific Amounts or Items of Personal Property. Distributions of the following specific amounts or items of personal property shall be made from the assets of the Trust. Each amount or item listed shall be distributed to the corresponding "Primary Beneficiary". If the Primary Beneficiary is not living at the designated time, the amount or item shall be distributed to the corresponding "Contingent Beneficiary". If the Contingent Beneficiary is not living at the designated time, or if none has been specified, the amount or item shall be added to the residuary assets of this Trust.
Amount or Item: !
Primary Beneficiary: !
This amount or item shall be distributed upon the death of
! both Grantors.
Contingent Beneficiary: !
Amount or Item: !
Primary Beneficiary: !
This amount or item shall be distributed upon the death of
! both Grantors.
Contingent Beneficiary: !
Amount or Item: !
Primary Beneficiary: !
This amount or item shall be distributed upon the death of
! both Grantors.
Contingent Beneficiary: !
Amount or Item: !
Primary Beneficiary: !
This amount or item shall be distributed upon the death of
! both Grantors.
Contingent Beneficiary: !
! [To include additional specific distributions.]
Enter an X if specific distributions will be included in the Joint Living Trust after the death of either or both Grantors. A specific distribution is a gift of a specific item or asset to a named person or entity. For example, a wedding ring, $1,000, an antique, or a car. Press [Ctrl+F1] for more information.
Enter a description of the specific distribution to be made. For example, "wild rose china" or "1957 Chevy".
Enter the name of the person or entity ("Primary Beneficiary") who will receive the distribution or use the P.I. Manager to select and paste a record.
Enter an X if the amount or item shall be distributed only upon the death of this Grantor.
Enter an X if the amount or item shall be distributed only upon the death of the second of the Grantors to die.
Enter the name of a Contingent Beneficiary who will receive the amount or item if the first choice does not survive the Grantor. If no Contingent Beneficiary is specified, the amount or item will be added to the residuary assets of the Trust. Use the P.I. Manager to select and paste a record.
Enter an X to include an additional specific distribution.
Enter an X to include additional specific distributions. The program permits a maximum of 20 specific distributions.
JLT05
! Continuation of Distributions of Personal Property Section (4 of 17)
Amount or Item: !
Primary Beneficiary: !
This amount or item shall be distributed upon the death of
! both Grantors.
Contingent Beneficiary: !
Amount or Item: !
Primary Beneficiary: !
This amount or item shall be distributed upon the death of
! both Grantors.
Contingent Beneficiary: !
Amount or Item: !
Primary Beneficiary: !
This amount or item shall be distributed upon the death of
! both Grantors.
Contingent Beneficiary: !
Amount or Item: !
Primary Beneficiary: !
This amount or item shall be distributed upon the death of
! both Grantors.
Contingent Beneficiary: !
! [To include additional specific distributions.]
Enter an X to include an additional specific distribution.
Enter a description of the distribution to be made. For example, "wild rose china" or "1957 Chevy".
Enter the name of the person or entity ("Primary Beneficiary") who will receive the distribution or use the P.I. Manager to select and paste a record.
Enter an X if the amount or item shall be distributed only upon the death of this Grantor.
Enter an X if the amount or item shall be distributed only upon the death of the second of the Grantors to die.
Enter the name of a Contingent Beneficiary who will receive the amount or item if the first choice does not survive the Grantor. If no Contingent Beneficiary is specified, the amount or item will be added to the residuary assets of the Trust. Use the P.I. Manager to select and paste a record.
Enter an X to include additional specific distributions. The program permits a maximum of 20 specific distributions.
JLT06
! Continuation of Distributions of Personal Property Section (4 of 17)
Amount or Item: !
Primary Beneficiary: !
This amount or item shall be distributed upon the death of
! both Grantors.
Contingent Beneficiary: !
Amount or Item: !
Primary Beneficiary: !
This amount or item shall be distributed upon the death of
! both Grantors.
Contingent Beneficiary: !
Amount or Item: !
Primary Beneficiary: !
This amount or item shall be distributed upon the death of
! both Grantors.
Contingent Beneficiary: !
Amount or Item: !
Primary Beneficiary: !
This amount or item shall be distributed upon the death of
! both Grantors.
Contingent Beneficiary: !
! [To include additional specific distributions.]
Enter an X to include an additional specific distribution.
Enter a description of the distribution to be made. For example, "wild rose china" or "1957 Chevy".
Enter the name of the person or entity ("Primary Beneficiary") who will receive the distribution or use the P.I. Manager to select and paste a record.
Enter an X if the amount or item shall be distributed only upon the death of this Grantor.
Enter an X if the amount or item shall be distributed only upon the death of the second of the Grantors to die.
Enter the name of a Contingent Beneficiary who will receive the amount or item if the first choice does not survive the Grantor. If no Contingent Beneficiary is specified, the amount or item will be added to the residuary assets of the Trust. Use the P.I. Manager to select and paste a record.
Enter an X to include additional specific distributions. The program permits a maximum of 20 specific distributions.
JLT07
! Continuation of Distributions of Personal Property Section (4 of 17)
Amount or Item: !
Primary Beneficiary: !
This amount or item shall be distributed upon the death of
! both Grantors.
Contingent Beneficiary: !
Amount or Item: !
Primary Beneficiary: !
This amount or item shall be distributed upon the death of
! both Grantors.
Contingent Beneficiary: !
Amount or Item: !
Primary Beneficiary: !
This amount or item shall be distributed upon the death of
! both Grantors.
Contingent Beneficiary: !
Amount or Item: !
Primary Beneficiary: !
This amount or item shall be distributed upon the death of
! both Grantors.
Contingent Beneficiary: !
! [To include additional specific distributions.]
Enter an X to include an additional specific distribution.
Enter a description of the distribution to be made. For example, "wild rose china" or "1957 Chevy".
Enter the name of the person or entity ("Primary Beneficiary") who will receive the distribution or use the P.I. Manager to select and paste a record.
Enter an X if the amount or item shall be distributed only upon the death of this Grantor.
Enter an X if the amount or item shall be distributed only upon the death of the second of the Grantors to die.
Enter the name of a Contingent Beneficiary who will receive the amount or item if the first choice does not survive the Grantor. If no Contingent Beneficiary is specified, the amount or item will be added to the residuary assets of the Trust. Use the P.I. Manager to select and paste a record.
Enter an X to include additional specific distributions. The program permits a maximum of 20 specific distributions.
JLT08
! Continuation of Distributions of Personal Property Section (4 of 17)
Amount or Item: !
Primary Beneficiary: !
This amount or item shall be distributed upon the death of
! both Grantors.
Contingent Beneficiary: !
Amount or Item: !
Primary Beneficiary: !
This amount or item shall be distributed upon the death of
! both Grantors.
Contingent Beneficiary: !
Amount or Item: !
Primary Beneficiary: !
This amount or item shall be distributed upon the death of
! both Grantors.
Contingent Beneficiary: !
Amount or Item: !
Primary Beneficiary: !
This amount or item shall be distributed upon the death of
! both Grantors.
Contingent Beneficiary: !
Enter an X to include an additional specific distribution.
Enter a description of the distribution to be made. For example, "wild rose china" or "1957 Chevy".
Enter the name of the person or entity ("Primary Beneficiary") who will receive the distribution or use the P.I. Manager to select and paste a record.
Enter an X if the amount or item shall be distributed only upon the death of this Grantor.
Enter an X if the amount or item shall be distributed only upon the death of the second of the Grantors to die.
Enter the name of a Contingent Beneficiary who will receive the amount or item if the first choice does not survive the Grantor. If no Contingent Beneficiary is specified, the amount or item will be added to the residuary assets of the Trust. Use the P.I. Manager to select and paste a record.
JLT09
! Distribution of Residuary Assets Section (5 of 17)
[For more information regarding Residuary Assets, access Document Information.]
!. DISTRIBUTION OF RESIDUARY TRUST ASSETS UPON THE SURVIVING GRANTOR'S DEATH. Upon the death of the second of the Grantors to die (the "Surviving Grantor"), the residuary assets of this Trust shall be
! [CHILDREN option] distributed to the Grantors' child(ren) in equal shares.
! [CHILDREN'S TRUST option] retained by the Trustee, to be managed and distributed under the provisions of this Trust entitled "Trust Share for Children".
! [NAMED BENEFICIARY option] distributed to !,
!, ! !
! Country: , !
! [HEIRS option] divided into two equal shares, with one share distributed to the heirs-at-law of one Grantor, and the other share distributed to the heirs-at-law of the other Grantor, their identities and respective shares to be determined under the laws of the State of ! then in effect relating to the succession of separate property that is not attributable to a decedent's predeceased spouse.
! [MULTIPLE BENEFICIARIES option: allows distribution among multiple named beneficiaries, including children and/or a children's trust.]
Enter an X if the remaining assets of the Trust should be distributed to the Grantors' children.
Enter an X if the remaining assets of the Trust should be retained in a TRUST for the benefit of the Grantors' children. Press [Ctrl+F1] for more information.
Enter an X if the remaining assets of the Trust should be distributed to a NAMED BENEFICIARY (a person or entity).
Enter the Beneficiary's name or use the P.I. Manager to select and paste a record.
Enter the Beneficiary's street address or edit the information as desired.
Enter the Beneficiary's extended street address or edit the information as desired.
Enter the Beneficiary's city or edit the information as desired.
Enter the Beneficiary's state/province or edit the information as desired.
Enter the Beneficiary's zip/postal code or edit the information as desired.
Enter an X to include the Beneficiary's country, if outside the United States.
Enter the country or edit the information as desired.
Enter an X if the remaining assets of the Trust should be distributed to the Grantors' HEIRS.
The program transfers the state from a previous section. If desired, you may modify the information without affecting earlier data.
Enter an X if the remaining assets of the trust should be distributed to MULTIPLE BENEFICIARIES (persons and/or entities) in equal shares or percentages.
JLT10
! Continuation of Residuary Assets Section (5 of 17) - No Surviving Children
[Distribution of residuary trust assets if the children do not survive]
If a child does not survive the Grantors, such deceased child's share shall be distributed in equal shares to the children of such deceased child who survive the Grantors, by right of representation. If a child does not survive the Grantors and has no children who survive the Grantors, such deceased child's share shall be distributed in equal shares to the Grantors' other children, if any, or to their respective children by right of representation. If no child of the Grantors survives the Grantors, and if none of the Grantors' deceased children are survived by children, the residuary assets of this Trust shall be
! [NAMED BENEFICIARY option] distributed to !,
!, ! !
! Country: , !
! [HEIRS option] divided into two equal shares, with one share distributed to the heirs-at-law of one Grantor, and the other share distributed to the heirs-at-law of the other Grantor, their identities and respective shares to be determined under the laws of the State of ! then in effect relating to the succession of separate property that is not attributable to a decedent's predeceased spouse.
! [MULTIPLE BENEFICIARIES option: allows distribution among multiple named beneficiaries, including a children's trust.]
Enter an X if the remaining assets of the trust should be distributed to a NAMED BENEFICIARY (a person or entity), if the children do not survive the Grantors.
Enter the NAMED BENEFICIARY's name or use the P.I. Manager to select and paste a record.
Enter the NAMED BENEFICIARY's street address or edit the information as desired.
Enter the NAMED BENEFICIARY's extended street address or edit the information as desired.
Enter the NAMED BENEFICIARY's city or edit the information as desired.
Enter the NAMED BENEFICIARY'S state/province or edit the information as desired.
Enter the NAMED BENEFICIARY's zip/postal code or edit the information as desired.
Enter an X to include the NAMED BENEFICIARY'S country, if outside the United States.
Enter the country or edit the information as desired.
Enter an X if the remaining assets of the trust should be distributed to the Grantors' HEIRS, if the children do not survive the Grantors.
The program transfers the state from a previous section. If desired, you can modify the information without affecting earlier data.
Enter an X if the remaining assets of the trust should be distributed to named beneficiaries (persons and/or entities) if the children do not survive the Grantors.
JLT11
! Continuation of Residuary Assets Section (5 of 17) - No Surviving Beneficiary
[Distribution of residuary trust assets if the named beneficiary does not survive]
If such beneficiary does not survive the Grantors, the residuary assets shall be
! [HEIRS option] divided into two equal shares, with one share distributed to the heirs-at-law of one Grantor, and the other share distributed to the heirs-at-law of the other Grantor, their identities and respective shares to be determined under the laws of the State of ! then in effect relating to the succession of separate property that is not attributable to a decedent's predeceased spouse.
! [MULTIPLE BENEFICIARIES option: allows distribution among multiple named beneficiaries, including a children's trust.]
Enter an X if the remaining assets of the Trust should be distributed to the Grantors' HEIRS, if the previously named beneficiary does not survive the Grantors.
The program transfers the state from a previous section. If desired, you can modify the information without affecting earlier data.
Enter an X if the remaining assets of the Trust should be distributed to named beneficiaries (persons and/or entities) if the previously named beneficiary does not survive the Grantors.
JLT12
! Continuation of Residuary Assets Section (5 of 17) - Multiple Beneficiaries
[Distribution of residuary trust assets to named beneficiaries in equal shares or percentages.]
The residuary assets of this Trust shall be distributed to (or retained by) the following beneficiaries
! in equal shares:
! in the percentages as shown:
! This check box is defaulted on. If the children were named as the beneficiary of the residuary assets on screen 9, this check box will be turned off. The interview checks the status of this check box to determine whether to ask about the children on this screen.
! [Children option]
! !% to
the Grantors' child(ren) in equal shares. If a child of the Grantors does not survive the Grantors, such deceased child's share shall be distributed in equal shares to the child(ren) of such deceased child who survived the Grantors by right of representation. If a child of the Grantors does not survive the Grantors and has no children who survive the Grantors, such deceased child's share shall be distributed in equal shares to the Grantors' other child(ren), if any, or to their respective children by right of representation. If no child of the Grantors survives the Grantors, and if none of the Grantors' deceased children are survived by children, this share shall be
! divided into two equal shares, with one share distributed to the heirs-at-law of one Grantor, and the other share distributed to the heirs-at-law of the other Grantor. Heirship shall be determined under the laws of the State of !.
! distributed to !,
!, !.
! distributed in equal shares to the other distributee(s) listed under this provision.
! [Children's Trust option]
! !% to
the Trustee, to be retained, managed, and distributed under the provisions of this Trust entitled "Trust Share for Children".
! [Named beneficiary option]
! !% to
!, !.
If this person or organization does not survive the Grantors or is not in existence, this share shall be distributed
! to !,
!, !.
! in equal shares to the other distributee(s) listed under this provision.
! [Named beneficiary option]
! !% to
!, !.
If this person or organization does not survive the Grantors or is not in existence, this share shall be distributed
! to !,
!, !.
! in equal shares to the other distributee(s) listed under this provision.
! [Named beneficiary option]
! !% to
!, !.
If this person or organization does not survive the Grantors or is not in existence, this share shall be distributed
! to !,
!, !.
! in equal shares to the other distributee(s) listed under this provision.
! [Named beneficiary option]
! !% to
!, !.
If this person or organization does not survive the Grantors or is not in existence, this share shall be distributed
! to !,
!, !.
! in equal shares to the other distributee(s) listed under this provision.
! [Named beneficiary option]
! !% to
!, !.
If this person or organization does not survive the Grantors or is not in existence, this share shall be distributed
! to !,
!, !.
! in equal shares to the other distributee(s) listed under this provision.
! [Named beneficiary option]
! !% to
!, !.
If this person or organization does not survive the Grantors or is not in existence, this share shall be distributed
! to !,
!, !.
! in equal shares to the other distributee(s) listed under this provision.
! [Named beneficiary option]
! !% to
!, !.
If this person or organization does not survive the Grantors or is not in existence, this share shall be distributed
! to !,
!, !.
! in equal shares to the other distributee(s) listed under this provision.
! [Named beneficiary option]
! !% to
!, !.
If this person or organization does not survive the Grantors or is not in existence, this share shall be distributed
! to !,
!, !.
! in equal shares to the other distributee(s) listed under this provision.
[Percentages Total - !%]
h o :
Enter an X if the remaining assets of the Trust will be distributed in "equal shares" to named beneficiaries, rather than in "percentages".
Enter an X if the remaining assets of the Trust will be distributed in "percentages" to named beneficiaries, rather than in "equal shares".
Enter an X if a share or percentage of the residuary assets will be distributed to the Grantors' children outright (not in a children's trust). You shouldn't enter an X if you have already designated the child(ren) as a beneficiary of the residuary assets.
Enter the percentage of the residuary assets to be distributed to the Grantors' children.
Enter an X if the children's share should be distributed to the Grantors' HEIRS, if the children do not survive the Grantors. Press [Ctrl+F1] for more information.
The program completes the name of the state/province by transferring the information from a previous screen. If desired, you may modify the information without affecting earlier data. Press [Ctrl+F1] for more information.
Enter an X to include the name of a second person or institution ("alternate beneficiary") who will receive the share or percentage if the children do not survive the Grantors.
Enter the alternate beneficiary's name or use the P.I. Manager to select and paste a record.
Enter the beneficiary's street address or edit the information as desired.
Enter the beneficiary's extended street address or edit the information as desired.
Enter the beneficiary's city or edit the information as desired.
Enter the beneficiary's state/province or edit the information as desired.
Enter an X if the share or percentage will be distributed in equal shares to the other distributee(s), if the children do not survive the Grantors. This option should not be selected unless at least two beneficiaries will receive a share or percentage.
Enter an X if a share or percentage of the remaining assets of the Trust will be distributed to the Trustee for the Children's Trust.
Enter the percentage of the remaining assets of the Trust to be distributed to the Trustee.
Enter an X to specify the FIRST beneficiary who will receive part of the remaining Trust assets.
Enter the percentage of the remaining assets of the Trust to be distributed to the FIRST beneficiary.
Enter the name of the FIRST beneficiary (a person or institution) or use the P.I. Manager to select and paste a record.
Enter an X to name a second person or institution (an "alternate beneficiary") who will receive the share or percentage if the first beneficiary does not survive the Grantors.
Enter an X if the share or percentage will be distributed in equal shares to the other distributee(s) listed under this provision if the beneficiary does not survive the Grantors.
Enter an X to specify the SECOND beneficiary who will receive part of the remaining Trust assets.
Enter the percentage of the remaining assets of the Trust to be distributed to the SECOND beneficiary.
Enter the name of the SECOND beneficiary (a person or institution) or use the P.I. Manager to select and paste a record.
Enter an X to specify the THIRD beneficiary who will receive part of the remaining Trust assets.
Enter the percentage of the remaining assets of the Trust to be distributed to the THIRD beneficiary.
Enter the name of the THIRD beneficiary (a person or institution) or use the P.I. Manager to select and paste a record.
Enter an X to specify the FOURTH beneficiary who will receive part of the remaining Trust assets.
Enter the percentage of the remaining assets of the Trust to be distributed to the FOURTH beneficiary.
Enter the name of the FOURTH beneficiary (a person or institution) or use the P.I. Manager to select and paste a record.
Enter an X to specify the FIFTH beneficiary who will receive part of the remaining Trust assets.
Enter the percentage of the remaining assets of the Trust to be distributed to the FIFTH beneficiary.
Enter the name of the FIFTH beneficiary (a person or institution) or use the P.I. Manager to select and paste a record.
Enter an X to specify the SIXTH beneficiary who will receive part of the remaining Trust assets.
Enter the percentage of the remaining assets of the Trust to be distributed to the SIXTH beneficiary.
Enter the name of the SIXTH beneficiary (a person or institution) or use the P.I. Manager to select and paste a record.
Enter an X to specify the SEVENTH beneficiary who will receive part of the remaining Trust assets.
Enter the percentage of the remaining assets of the Trust to be distributed to the SEVENTH beneficiary.
Enter the name of the SEVENTH beneficiary (a person or institution) or use the P.I. Manager to select and paste a record.
Enter an X to specify the EIGHTH beneficiary who will receive part of the remaining Trust assets.
Enter the percentage of the remaining assets of the Trust to be distributed to the EIGHTH beneficiary.
Enter the name of the EIGHTH beneficiary (a person or institution) or use the P.I. Manager to select and paste a record.
The percentages total is calculated by the program. It is very important that the percentages equal 100% if the remaining trust assets are being distributed as "percentages". This total is not calculated if the remaining assets are being distributed in "equal shares".
%JLT13
! Continuation of Residuary Assets Section (5 of 17) - Trust for Children
!. TRUST SHARE FOR CHILDREN. The primary purpose of this Children's Trust share (referred to as "this Children's Trust") is to provide for the health, support, maintenance, and education of
! the Grantors' children:
Name: !
Name: !
Name: !
Name: !
Name: !
Name: !
Name: !
Name: !
Name: !
Name: !
! This Children's Trust is also intended to include any other children born to or adopted by the Grantors after the signing of this Agreement.
! any children born to or adopted by the Grantors after the signing of this Agreement.
! the Grantors' child, !.
! This Children's Trust is also intended to include any other children born to or adopted by the Grantors after the signing of this Agreement.
The provisions of this Children's Trust also provide for the distribution of the residuary trust assets. If the Trustee of this Children's Trust is the beneficiary of any life insurance policy, any pension plan or any other contract, the proceeds of such policy, plan or contract shall be treated by the Trustee as though received as a part of this Trust Share.
!. Use and Distribution. The Trustee, in the Trustee's unrestricted discretion, and regardless of the existence of other funds available for these purposes, shall pay or apply as much of the Children's Trust income and/or principal in such amounts and from time to time as the Trustee may determine for the benefit of the Grantors' children. In making such payments or applications, the Trustee shall not be required to treat all children alike or equally, but shall take into consideration their respective needs. The Trustee's exercise of discretion with respect to such payments or applications shall be binding on all parties concerned. When all of the Grantors' living children have attained the age of ! years, or when the last of the Grantors' children dies, whichever shall occur first, the remaining assets of this Children's Trust shall be divided into as many equal shares as there are (i) children of the Grantors who survive to the time of this division, and (ii) children of the Grantors who predecease the time of this division leaving children (the Grantors' "grandchildren") who survive to such time, and final distribution of such shares shall be made as follows.
! The shares shall be distributed to the Grantors' surviving children (and/or surviving grandchildren, in the case of a deceased child, by right of representation) and this Children's Trust shall then terminate.
1. Each child shall immediately receive one-third of his or her share.
2. Upon attaining age ! years, each child shall receive one-half of his or her remaining share.
3. Upon attaining age ! years, each child shall receive all of his or her remaining share.
Distributions to grandchildren, in the case of a deceased child (see Death of a Child section following), shall be made when such grandchild attains the same age(s) as required for the Grantor's child(ren).
Prior to each child (or grandchild) receiving the final distribution of his or her share, the Trustee shall have the sole discretion to make advancements to such beneficiary, from that beneficiary's own share, based upon the same guidelines already provided in this section (Use and Distribution).
!. Death of a Child. If a child of the Grantors dies prior to the time provided in the preceding paragraph (Use and Distribution) for final distribution or prior to receiving all of his or her remaining share of this Children's Trust, the share (or remaining share) to which such deceased child would have been entitled had such child survived shall be distributed in equal shares to the children of such deceased child (the Grantors' "Grandchildren") who are living at the time for such (full or partial) distribution as scheduled in the preceding paragraph (Use and Distribution), by right of representation. If a child of the Grantors so dies without any surviving children, such share shall be distributed in equal shares to the Grantors' other children, or to their respective descendants by right of representation. If no child of the Grantors survives to age ! years, upon the death of the last of the Grantors' children, the Trustee shall distribute the remaining assets of this Children's Trust in equal shares to the surviving descendants of the Grantors' children. If no child of the Grantors survives to age ! years, and if none of the Grantors' children have surviving descendants, the Trustee shall distribute the remaining assets of this Children's Trust in the manner set forth in the following paragraph (No Surviving Descendants). Upon the death of a child of the Grantors under the circumstances contemplated by this paragraph, the Trustee, in the Trustee's discretion, may pay the expenses of last illness, funeral, and related expenses of such deceased child from this Children's Trust.
Enter an X to include the names of the Grantors' children.
Enter the name of the first child or use the P.I. Manager to select and paste a record.
Enter the name of the second child or use the P.I. Manager to select and paste a record.
Enter the name of the third child or use the P.I. Manager to select and paste a record.
Enter the name of the fourth child or use the P.I. Manager to select and paste a record.
Enter the name of the fifth child or use the P.I. Manager to select and paste a record.
Enter the name of the sixth child or use the P.I. Manager to select and paste a record.
Enter the name of the seventh child or use the P.I. Manager to select and paste a record.
Enter the name of the eighth child or use the P.I. Manager to select and paste a record.
Enter the name of the ninth child or use the P.I. Manager to select and paste a record.
Enter the name of the tenth child or use the P.I. Manager to select and paste a record.
Enter an X to include future children as beneficiaries of the trust.
Enter an X if the Grantors do not currently have children, but want the trust to provide for that possibility.
Enter an X if the Grantors have only one child that will be included as a beneficiary of the trust.
Enter the name of the child or use the P.I. Manager to select and paste a record.
Enter the age that the youngest child of the Grantors should attain before final distribution of the trust assets will begin.
Enter an X if the final distribution of the trust shall be made in equal shares to all of the Grantors' children who are living at the time of final distribution. The children of a deceased child, the Grantors' grandchildren, will receive the share of their parent.
Enter an X if the final distribution of the trust shall be made in equal shares to the children at three staggered times. The first "one-third" will be paid immediately.
Enter the age at which each child shall receive the "second one-third" of his or her share of the trust. Note: this second one-third is stated as "one-half of the remaining share". The age should not be less than the age previously entered as the age of the youngest child when final distribution will begin.
Enter the age at which each child shall receive the "last one-third" of his or her remaining share of the trust. The age should not be less than the age previously entered as the age for receiving the second distribution.
(J,JLT14
! Continuation of Residuary Assets Section (5 of 17) - No Surviving Descendants
!. No Surviving Descendants. If the Grantors' children and all of the Grantors' descendants fail to survive the Grantors, or if all of the Grantors' children fail to attain age ! years and are not survived by children or descendants, the remaining assets of this Children's Trust shall be
! [HEIRS option] divided into two equal shares, with one share distributed to the heirs-at-law of one Grantor, and the other share distributed to the heirs-at-law of the other Grantor. Heirship shall be determined under the laws of the State of !.
! [Named beneficiaries option] distributed to the following beneficiaries
! in equal shares:
! in the percentages as shown:
! [Named beneficiary]
! !% to
!, ! !
! Country: , !
! [Named beneficiary]
! !% to
!, ! !
! Country: , !
! [Named beneficiary]
! !% to
!, ! !
! Country: , !
! [Named beneficiary]
! !% to
!, ! !
! Country: , !
! [Named beneficiary]
! !% to
!, ! !
! Country: , !
! [Named beneficiary]
! !% to
!, ! !
! Country: , !
! [Named beneficiary]
! !% to
!, ! !
! Country: , !
! [Named beneficiary]
! !% to
!, ! !
! Country: , !
[Percentages Total - !%]
!. PROTECTION OF BENEFICIARIES. The interest of any beneficiary under this Agreement shall not be subject to assignment, anticipation, claims of creditors, or seizure by legal process. If the Trustee believes that the interest of any beneficiary is threatened to be diverted in any manner from the purposes of this Agreement, the Trustee shall withhold the income and principal from distribution, and shall apply payment in the Trustee's discretion in such manner as the Trustee believes shall contribute to the health, support, maintenance, and education of the beneficiaries. When the Trustee is satisfied that such diversion is no longer effective or threatened, the Trustee may resume the distributions of income and principal authorized.
Enter an X if the remaining assets of the trust should be distributed to the Grantors' HEIRS if the children or grandchildren do not survive to the time of the final distribution.
The program transfers the state from a previous section. If desired, you can modify the information without affecting earlier data.
Enter an X if the remaining assets of the trust should be distributed to named beneficiaries, rather than to the heirs of the Grantors, if the children or grandchildren do not survive to the time of the final distribution.
Enter an X if the remaining trust assets will be distributed in "equal shares" to named beneficiaries, rather than in "percentages".
Enter an X if the remaining trust assets will be distributed in "percentages" to named beneficiaries, rather than in "equal shares".
Enter an X to specify the FIRST beneficiary who will receive part of the remaining trust assets.
Enter the percentage of the remaining trust assets to be distributed to the beneficiary.
Enter the name of the person or institution ("beneficiary") or use the P.I. Manager to select and paste a record.
Enter the beneficiary's street address or edit the information as desired.
Enter the beneficiary's extended street address or edit the information as desired.
Enter the beneficiary's city or edit the information as desired.
Enter the beneficiary's state/province or edit the information as desired.
Enter the beneficiary's zip/postal code or edit the information as desired.
Enter an X to include the beneficiary's country, if outside the United States.
Enter the country or edit the information as desired.
Enter an X to specify the SECOND beneficiary who will receive part of the remaining trust assets.
Enter an X to specify the THIRD beneficiary who will receive part of the remaining trust assets.
Enter an X to specify the FOURTH beneficiary who will receive part of the remaining trust assets.
Enter an X to specify the FIFTH beneficiary who will receive part of the remaining trust assets.
Enter an X to specify the SIXTH beneficiary who will receive part of the remaining trust assets.
Enter an X to specify the SEVENTH beneficiary who will receive part of the remaining trust assets.
Enter an X to specify the EIGHTH beneficiary who will receive part of the remaining trust assets.
The percentages total is calculated by the program. It is very important that the percentages equal 100% if the remaining trust assets are being distributed in "percentages". This total is not calculated if the personal property is being distributed in "equal shares".
JLT15
! Trustee Powers Section (6 of 17)
!. TRUSTEE POWERS. The Trustee, in addition to other powers and authority granted by law or necessary or appropriate for proper administration of the Trust, shall have the following rights, powers, and authority without order of court and without notice to anyone.
!. Receive Assets. To receive, hold, maintain, administer, collect, invest and reinvest the trust assets, and collect and apply the income, profits, and principal of the Trust in accordance with the terms of this instrument.
!. Receive Additional Assets. To receive additional assets from other sources, including assets received by bequest.
!. Standard of Care. To acquire, invest, reinvest, exchange, retain, sell, and manage estate and trust assets, exercising the judgment and care, under the circumstances then prevailing, that persons of prudence, discretion and intelligence exercise in the management of their own affairs, not in regard to speculation but in regard to the permanent disposition of their funds, considering the probable income as well as the probable safety of their capital. Within the limitations of that standard, the Trustee is authorized to acquire and retain every kind of property, real, personal or mixed, and every kind of investment, specifically including, but not by way of limitation, bonds, debentures and other corporate obligations, and stocks, preferred or common, that persons of prudence, discretion, and intelligence acquire or retain for their own account, even though not otherwise a legal investment for trust funds under the laws and statutes of the United States or the state under which this instrument is administered.
!. Retain Assets. To retain any asset, including uninvested cash or original investments, regardless of whether it is of the kind authorized by this instrument for investment and whether it leaves a disproportionately large part of the estate or trust invested in one type of property, for as long as the Trustee deems advisable.
!. Dispose of or Encumber Assets. To sell, option, mortgage, pledge, lease, or convey real or personal property, publicly or privately, upon such terms and conditions as may appear to be proper, and to execute all instruments necessary to effect such authority.
!. Settle Claims. To compromise, settle, or abandon claims in favor of or against the Trust.
!. Manage Property. To manage real estate and personal property, borrow money, exercise options, buy insurance, and register securities as may appear to be proper.
!. Allocate Between Principal and Income. To make allocations of charges and credits as between principal and income as in the sole discretion of the Trustee may appear to be proper.
!. Employ Professional Assistance. To employ and compensate counsel and other persons deemed necessary for proper administration and to delegate authority when such delegation is advantageous to the trust.
!. Distribute Property. To make division or distribution in money or kind, or partly in either, at values to be determined by the Trustee, and the Trustee's judgment shall be binding upon all interested parties.
!. Enter Contracts. To bind the Trust by contracts or agreements without assuming individual liability for such contracts.
!. Exercise Stock Ownership Rights. To vote, execute proxies to vote, join in or oppose any plans for reorganization, and exercise any other rights incident to the ownership of any stocks, bonds, or other properties of the Trust.
!. Duration of Powers. To continue to exercise the powers provided in this Agreement after the termination of the Trust until all the assets of the Trust have been distributed.
JLT16
! Optional Trustee Powers Section (7 of 17)
! !. Hold Trust Assets as a Single Fund. To hold the assets of the Trust, shares, or portions of the Trust created by this instrument as a single fund for joint investment and management, without the need for physical segregation, dividing the income proportionately among them. Segregation of the various trust shares need only be made on the books of the Trustee for accounting purposes.
!. Compensation. To receive reasonable compensation for the Trustee's services under this Agreement and be exonerated from and to pay all reasonable expenses and charges of the trust.
!. Loans to Beneficiaries. To make loans to any trust beneficiary for the purpose of providing the beneficiary with the funds necessary to take advantage of exceptional business opportunities; to make loans to trust beneficiaries to provide for the needs of the beneficiaries and their families.
!. Methods of Distribution. To make payments to or for the benefit of any beneficiary (specifically including any beneficiary under any legal disability) in any of the following ways: (a) directly to the beneficiary; (b) directly for the maintenance, welfare and education of the beneficiary; (c) to the legal or natural guardian of the beneficiary; or (d) to anyone who at the time shall have custody and care of the person of the beneficiary. The Trustee shall not be obliged to see the application of the funds so paid, but the receipt of the person to whom the funds were paid shall be full acquittance of the Trustee.
!. Continue Operation of Business. To carry on any business owned by the Trust or in which the Trust may have an interest for such period of time as the Trustee deems advisable, or to sell or liquidate such business interest.
Enter an X to include optional Trustee powers. Press [Ctrl+F1] for more information.
Enter an X to authorize the Trustee to hold Trust assets as a single fund, but with separate shares for each beneficiary. It is recommended that this option be selected because it often reduces the expense of operating the Trust.
Enter an X to provide that the Trustee is entitled to reasonable compensation.
Enter an X to authorize the Trustee to make loans to the Trust beneficiaries.
Enter an X to authorize the Trustee to make distributions for the benefit of a beneficiary directly to the source that needs to be paid. For example, distributions to a college for the benefit of a child who is nineteen years old.
Enter an X to authorize the Trustee to continue the operation of the Grantors' business, if to do so seems appropriate.
JLT17
! Optional Additional Trustee Provisions Section (8 of 17)
!. ADDITIONAL TRUSTEE PROVISIONS. These additional provisions shall apply regarding the Trustee.
A. Grantor(s) as Trustee. If at any time either or both Grantors are "Trustee", a successor trustee may be designated by such Grantor Trustee(s), if such designation is made in writing. Such designee shall become the successor trustee upon acceptance of the terms and conditions of this Agreement.
B. Death or Disability of a Grantor as Trustee. If at any time no Grantor is able to serve as Trustee because of a disability (as previously defined) or death, !, of !, !, is designated as the successor trustee.
! If such designee is unable to serve for any reason, !, of !, !, is designated as the alternate trustee. Such designee shall become the successor trustee upon acceptance of the terms and conditions of this Agreement.
C. Resignation of Trustee. The Trustee, or any successor may resign at any time by giving ! days' written notice to a Grantor. If both Grantors are deceased, such notice shall be given to all adult beneficiaries, and to a parent or guardian, if any, of each minor beneficiary.
D. Successor Trustee. The beneficiaries to whom such notice of resignation is given shall designate a successor trustee by written notice to the resigning trustee within ! days after receipt of the notice of resignation. If a successor trustee is not so designated, the resigning trustee shall have the right to secure the appointment of a successor trustee by a court of competent jurisdiction, at the expense of the Trust. If a successor trustee is appointed, such trustee shall be bound by, and subject to, the provisions of this Trust.
E. Accounting. The Trustee shall provide an accounting to the Beneficiary (or beneficiaries) on at least a ! basis. If a beneficiary has a "disability", the Trustee shall provide the accounting to a guardian or conservator, if any.
F. Bond.
! No bond shall be required of any Trustee.
! No bond shall be required of a Grantor (if serving as Trustee) or any qualified corporate Trustee.
! Any trustee serving under this Agreement, except a Grantor (if serving as Trustee) shall provide a bond of sufficient amount to protect the assets and income of the Trust.
This section provides for a Successor Trustee and related Trustee provisions. It is recommended that you include this section. If you do not wish to include this section, press [Delete] or the space bar to clear the "X" from this field.
Enter the Successor Trustee's name or use the P.I. Manager to select and paste a record. Sometimes the Successor Trustee is a spouse, if the spouse is physically and mentally able to serve. In other cases, a bank's trust department may be an appropriate choice.
Enter the Successor Trustee's city or edit the information as desired.
Enter the Successor Trustee's state/province or edit the information as desired.
Enter an X to include the name of an Alternate Successor Trustee who will serve as Trustee if the first choice is unable to do so.
Enter the name of the Alternate Successor Trustee or use the P.I. Manager to select and paste a record.
Enter the Alternate Successor Trustee's city or edit the information as desired.
Enter the Alternate Successor Trustee's state/province or edit the information as desired.
Enter the number of days' notice that the Trustee should provide before a resignation by the Trustee becomes effective. For example, "60" days.
Enter the number of days that the beneficiaries will have to respond by designating a Successor Trustee. For example, "45" days. The beneficiaries should be required to respond prior to the date on which the resignation of the Trustee became effective.
Enter the periodic basis on which the Trustee will be required to provide an accounting. Usually, an accounting is required "quarterly" or "monthly".
Enter an X if the Trustee will not be required to post a bond. Frequently, the Trustee is not required to be bonded, particularly if the Trustee is a bank. You may wish to check with an attorney regarding the usual practice in your state and the risks of not requiring a bond.
Enter an X if the Trustee will not be required to post a bond if the Trustee is a Grantor or a corporate Trustee (e.g., a bank). Frequently, the Trustee is not required to be bonded, particularly if the Trustee is a bank.
Enter an X if the Trustee shall post a bond, except if the Trustee is a Grantor. The purpose of a bond is to protect the Trust if the Trustee misappropriates the trust assets.
JLT18
! Optional Right To Direct Investments Section (9 of 17)
!. RIGHT TO DIRECT INVESTMENTS. At any time that the Trust has investments, and provided that a Grantor does not have a "disability", such Grantor may direct any Trustee to purchase, sell, or retain any trust investment.
Enter an X to include a provision that allows a Grantor to control the investments of the Joint Living Trust unless such Grantor is not mentally competent.
JLT19
! Revoke or Amend Section (10 of 17)
!. REVOCATION OR AMENDMENT. Either Grantor may revoke at any time and/or the Grantors may jointly amend, this Agreement by delivering to the Trustee an appropriate written revocation or amendment, signed by the Grantor(s). If the Trustee consents, the powers of revocation, but not the power of amendment, may be exercised by a duly appointed and acting attorney-in-fact for the Grantors, or either of them, for the purpose of withdrawing assets from the Trust.
JLT20
! Governing Law Section (11 of 17)
!. GOVERNING LAW. This Agreement shall be construed in accordance with the laws of the State of !.
The program transfers the state from a previous section. If desired, you can modify the information without affecting earlier data.
JLT21
! Perpetuities Savings Section (12 of 17)
[This clause provides protection against the laws of some states that invalidate trusts that would otherwise continue to exist for several generations after the death of the Grantor.]
!. PERPETUITIES SAVINGS CLAUSE. Despite any other provision of this Agreement to the contrary, the trust created by this Agreement shall terminate no later than 21 years after the death of the last to die of a class of persons to include the Grantors and any other beneficiary of this Agreement who is living on the date that this Agreement is signed.
JLT22
! Severability Section (13 of 17)
!. SEVERABILITY. If any portion of this Agreement shall be held to be invalid or unenforceable for any reason, the remaining provisions shall continue to be valid and enforceable. If a court finds that any provision of this Agreement is invalid or unenforceable, but that by limiting such provision it would become valid and enforceable, then such provision shall be deemed to be written, construed, and enforced as so limited.
JLT23
! Miscellaneous Provisions Section (14 of 17)
[These provisions clarify how the Joint Living Trust should be interpreted.]
!. MISCELLANEOUS PROVISIONS.
!. Paragraph Titles and Gender. The titles given to the paragraphs of this Trust are inserted for reference purposes only and are not to be considered as forming a part of this Trust in interpreting its provisions. All words used in this Trust in any gender shall extend to and include all genders and in numbers when the context or facts so require, and any pronouns shall be taken to refer to the person or persons intended regardless of gender or number.
JLT24
! Optional Children Identity Section (15 of 17)
!. Children.
! The Grantors do not have any children at the time of the signing of this Trust.
! However, all references in this Trust to "the Grantors' child" or "the Grantors' children" include any child(ren) born to or adopted by the Grantors after the signing of this Trust.
! The name of the Grantors' child is !.
! The names of the Grantors' children are:
Name: !
Name: !
Name: !
Name: !
Name: !
Name: !
Name: !
Name: !
Name: !
Name: !
! Turn this check box off if the Grantors have no children.
! All references in this Trust to "the Grantors' child" or "the Grantors' children" include the above child (or children) and any other children born to or adopted by the Grantors after the signing of this Trust.
! The failure of this Trust to provide for any distribution to
! the Grantors' child, !,
! the Grantors' children:
is intentional.
This optional section provides an opportunity to list the names of the Grantors' children, if any. This section should be included if the Grantors have children. An optional paragraph allows the Grantors to specifically exclude one or more of the children from receiving any distribution from the Joint Living Trust.
Enter an X if the Grantors have no children.
Enter an X if the Grantors intend any references to the Grantors' child(ren) in the Trust to apply to future children of the Grantors.
Enter an X if the Grantors have only one child.
Enter the child's name. If you chose the CHILDREN'S TRUST option the program completes this information by transferring the name from the Children's Trust section.
Enter an X if the Grantors have more than one child.
Enter the first child's name or use the P.I. Manager to select and paste a record. If you completed the CHILDREN'S TRUST section, the program completes the names of the children by transferring them from that section.
Enter the second child's name or use the P.I. Manager to select and paste a record.
Enter the third child's name or use the P.I. Manager to select and paste a record.
Enter the fourth child's name or use the P.I. Manager to select and paste a record.
Enter the fifth child's name or use the P.I. Manager to select and paste a record.
Enter the sixth child's name or use the P.I. Manager to select and paste a record.
Enter the seventh child's name or use the P.I. Manager to select and paste a record.
Enter the eighth child's name or use the P.I. Manager to select and paste a record.
Enter the ninth child's name or use the P.I. Manager to select and paste a record.
Enter the tenth child's name or use the P.I. Manager to select and paste a record.
Enter an X if ALL of the Grantors' present and future children are included as beneficiaries in the Joint Living Trust.
Enter an X if one or more of the Grantors' children are NOT included as beneficiaries in the Joint Living Trust.
Enter an X if the Grantors wish to exclude one child from the Trust.
The program transfers the child's name from above if you indicated that the Grantors have only one child. You may enter a different name if the Grantors have two or more children but wish to exclude only one child from the Trust.
Enter an X if the Grantors wish to exclude several children from the Trust.
Enter an X to intentionally exclude this child from receiving any distribution from this Trust. Only the children with an X by their name will be excluded.
JLT25
! Optional Exclusion Section (16 of 17)
!. Intentional Exclusion. The failure of this Trust to provide for any distribution to the following person(s) or organization(s) is intentional:
Enter an X to include a section that allows the Grantors to state the names of persons or organizations who will be intentionally excluded from receiving distributions from the Grantors' estate.
Use this space to list any individuals or organizations who will be specifically excluded from receiving any part of the Grantors' estate under this Living Trust.
JLT26
! Signatures Section (17 of 17)
[This Joint Living Trust is being signed in the state of !]
___________________________________________
Signature - !
Grantor 1
___________________________________________
Signature - !
Grantor 2
! Sole Trustee
___________________________________________
Signature - !, Trustee
! [If Trustee is a corporation.]
By: !
! Co-Trustees
___________________________________________
Signature - !, Co-Trustee 1
! [If Co-Trustee is a corporation.]
By: !
___________________________________________
Signature - !, Co-Trustee 2
! [If Co-Trustee is a corporation.]
By: !
Enter the state where the Joint Living Trust will be signed or edit the information as desired. The program will provide the appropriate acknowledgement form for the state that is entered here.
The program selects "Sole Trustee" by transferring your choice from the first section. If you wish to name Co-Trustees, you must return to that section.
Enter an X if the Sole Trustee is a corporation, rather than an individual.
If known, enter the name of the officer who will sign on behalf of the Sole Trustee or use the P.I. Manager to select and paste a record.
If known, enter the officer's title.
The program selects "Co-Trustees" by transferring your choice from the first section. If you wish to name a Sole Trustee, you must return to that section.
Enter an X if the first Co-Trustee is a corporation, rather than an individual.
If known, enter the name of the officer who will sign on behalf of the first Co-Trustee or use the P.I. Manager to select and paste a record.
Enter an X if the second Co-Trustee is a corporation, rather than an individual.
If known, enter the name of the officer who will sign on behalf of the second Co-Trustee or use the P.I. Manager to select and paste a record.
The program will mark this check box only if the document will be signed in Idaho, Montana, Oklahoma, Pennsylvania, or Washington. These states require the inclusion of the notary's address.
The notary's address is required if the Grantor resides in Idaho, Montana, Oklahoma, Pennsylvania, or Washington.
Idaho,Montana,Oklahoma,Pennsylvania,Washington
Idaho,Montana,Oklahoma,Pennsylvania,Washington
JLT28
! Continuation of Signature Section (17 of 17) - !
[This acknowledgement form is to be used in the following states:
HI, IA, LA, MA, MO, NY, RI, SD, TN, VT, WA]
[Grantor Notary Block]
State of !
County/Parish of ________________________________
On this the ______ day of _______________, 19____, before me personally appeared ! and !, to me known to be the persons described in and who executed the foregoing instrument as Grantors, and acknowledged that they executed same as their free act and deed.
The notary's address is required if the Grantor resides in Idaho, Montana, Oklahoma, Pennsylvania, or Washington.
Idaho,Montana,Oklahoma,Pennsylvania,Washington
Idaho,Montana,Oklahoma,Pennsylvania,Washington
JLT29
! Continuation of Signature Section (17 of 17) - !
[This acknowledgement form is to be used in the following states:
AL, AR, CT, GA, ID, MD, MS, NJ, NC, PA]
[Grantor Notary Block]
State of !
County of ________________________________
On this the ______ day of _______________, 19____, before me, _________________________________________, personally appeared ! and !, known to me (or satisfactorily proven) to be the persons whose names are subscribed to the within instrument and acknowledged that they executed the same as Grantors for the purposes therein contained.
In witness whereof I hereunto set my hand and official seal.
On this the ______ day of _______________, 19____, before me, _________________________________________, personally appeared !,
! as ! of !,
! and !,
! as ! of !,
known to me (or satisfactorily proven) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged that he/she/they executed the same (in his/her/their authorized capacity(ies)) as
! Trustee,
! Co-Trustees,
for the purposes therein contained.
In witness whereof I hereunto set my hand and official seal.
The notary's address is required if the Grantor resides in Idaho, Montana, Oklahoma, Pennsylvania, or Washington.
Idaho,Montana,Oklahoma,Pennsylvania,Washington
Idaho,Montana,Oklahoma,Pennsylvania,Washington
JLT30
! Continuation of Signature Section (17 of 17) - California
[Grantor Notary Block]
State of California
County of _________________________
On __________________ before me, ____________________________________, personally appeared ! and !,
[ ] personally known to me
- OR -
[ ] proved to me on the basis of satisfactory evidence
to be the persons whose names are subscribed to the within instrument as Grantors and acknowledged to me that they executed the same in their authorized capacities, and that by their signatures on the instrument the persons, or the entity upon behalf of which the persons acted, executed the instrument.
On __________________ before me, ____________________________________, personally appeared !,
! as ! of !,
! and !,
! as ! of !,
[ ] personally known to me
- OR -
[ ] proved to me on the basis of satisfactory evidence
to be the person(s) whose name(s) is/are subscribed to the within instrument as
! Trustee,
! Co-Trustees,
and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity(ies) upon behalf of which the person(s) acted, executed the instrument.
! Continuation of Signature Section (17 of 17) - Florida
[Grantor Notary Block]
State of Florida
County of _________________________
The foregoing instrument was acknowledged before me this _____ day of ________________, 19____ by ! and !, as Grantors, who are personally known to me or who have produced _____________________________________________ as identification.
(.txt)