This required section requests information regarding the parties to the Living Trust. It also includes provisions regarding the purpose, funding, and management of the Living Trust. Press [Ctrl+F1] for more information.
This required section includes distributions for the Grantor and provisions regarding the possibility of the Grantor becoming "disabled".
This required section provides the opening paragraph for the provisions that explain how the assets of the Living Trust should be distributed after the Grantor's death.
This optional section permits instructions regarding the distribution of specific items of property. Press [Ctrl+F1] for more information.
This optional section permits instructions regarding the distribution of tangible personal property. Press [Ctrl+F1] for more information.
This required section provides for the distribution of the remaining assets of the trust. An optional children's trust is included. Press [Ctrl+F1] for more information.
This required section provides standard powers for the Trustee. Press [Ctrl+F1] for more information.
This optional section provides additional powers for the Trustee.
This recommended section includes provisions regarding the designation of a successor trustee, and the resignation of the Trustee or a successor. Press [Ctrl+F1] for more information.
This optional section allows the Grantor to control the investments of the Living Trust unless the Grantor is not mentally competent.
This required section describes how the Grantor can revoke or amend the Living Trust at any time. Press [Ctrl+F1] for more information.
This required section specifies the state whose laws will govern the interpretation of the provision of the 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 Grantor.
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 Living Trust should be interpreted.
This optional section provides clarification regarding the Grantor's marital status. Press [Ctrl+F1] for more information.
This optional section allows the Grantor to state whether he or she has children, and provides a space to state the name(s) of the Grantor's child(ren) if desired. Press [Ctrl+F1] for more information.
This optional section allows the Grantor to state the names of persons or organizations who will be intentionally excluded from receiving distributions from the Trust. Press [Ctrl+F1] for more information.
This required section provides signature lines for the Grantor and Trustee, and an acknowledgement form to be signed by a notary public (or other authorized officer). Press [Ctrl+F1] for more information.
Times New Roman
Living Trust
LTRUST
A Living Trust is created to manage a person's assets during his or her lifetime, and to distribute the assets upon his or her death in a manner similar to a will.
Enter the spouse's name or use the P.I. Manager to select and paste a record.
Enter the Grantor's state/province or edit the information as desired.
Enter an X if the remaining assets of the Trust should be distributed to the Grantor's CHILDREN.
Enter an X if the remaining assets of the Trust should be distributed to the Grantor's SPOUSE.
Enter an X if the remaining assets of the Trust should be distributed to the Grantor's CHILDREN, if the spouse does not survive the Grantor.
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.
A Living Trust is prepared for a "Grantor". Enter the Grantor's name or edit the information as desired. Use the P.I. Manager to select and paste a record.
Enter the Trustee's name or use the P.I. Manager to select and paste a record. The person or institution who will administer the terms of the Living Trust is the "Trustee". Often the Grantor serves as the initial Trustee.
Enter an X if specific distributions will be included in the Living Trust. A specific distribution is a gift (distribution) 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 Living Trust will be signed. The program will provide the appropriate acknowledgement form for the state that is entered here.
Enter an X if the Trustee is an individual, rather than a corporation.
Enter an X if the Trustee is a corporation, rather than an individual.
If known, enter the name of the officer who will sign on behalf of the Trustee, or use the P.I. Manager to select and paste a record.
If known, enter the officer's title.
Enter an X if specific distributions should be made only if the Grantor's spouse and/or children do not survive the Grantor.
Enter an X if specific distributions should be made only if the Grantor's SPOUSE does not survive the Grantor.
Enter an X if the specific distributions should be made only if the Grantor's SPOUSE AND CHILDREN do not survive the Grantor.
Enter a description of the specific distribution to be made. For example, "$1,000", "My wild rose china" or "My 1957 Chevy".
Enter the name of the beneficiary (a person or entity) who will receive the specific distribution or use the P.I. Manager to select and paste a record.
Enter an X to provide the name of an alternate beneficiary, if the first choice does not survive the Grantor.
Enter the alternate beneficiary's name or use the P.I. Manager to select and paste a record.
Enter an X if the distribution shall become a part of the residuary assets of the Living Trust if the first choice does not survive. The "residuary assets" are the remaining assets of the Trust after the debts, expenses, and specific bequests have been paid.
Enter an X to include additional specific distributions. The program permits a maximum of 16 specific distributions.
Enter an X to include an additional specific distribution.
Enter a description of the additional specific distribution. For example, "$1,000", "My wild rose china" or "My 1957 Chevy".
Enter an X if the distribution shall become a part of the residuary estate if the first choice does not survive. The "residuary estate" is the remaining property of an estate after the debts, expenses, and specific bequests have been paid.
Enter an X if the distribution shall become a part of the residuary estate if the first choice does not survive. The "residuary estate" is the remaining property of an estate after the debts, expenses, and specific bequests have been paid.\
Enter the name of the beneficiary a (person or entity) who will receive the specific distribution or use the P.I. Manager to select and paste a record.
LVT01
Living Trust
! Opening Section (1 of 19)
LIVING TRUST
This Living Trust Agreement (this "Agreement") is made this ____ day of ____________________, ____, between ! (the "Grantor or Beneficiary") of !, ! and ! (the "Trustee") of !, !.
! [Name of Grantor's spouse !]
[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 Grantor during the Grantor's lifetime, and to further manage and distribute the assets of the Trust upon the death of the Grantor.
!. FUNDING OF TRUST. This Trust shall be funded with assets transferred to this Trust by the Grantor at the time of creating this Trust, or at any later time. During the life of the Grantor, any interest in community property transferred to this Trust shall retain its original character. 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 Grantor. It is also expected that this Trust may receive assets pursuant to the terms of the Grantor's Last Will and Testament.
!. MANAGEMENT OF TRUST ASSETS. The Trustee shall manage and distribute the trust assets for the benefit of the Beneficiary in accordance with the terms of this Agreement.
A Living Trust is prepared for a "Grantor". Enter the Grantor's name or edit the information as desired. Use the P.I. Manager to select and paste a record.
Enter the Grantor's city or edit the information as desired.
Enter the Grantor's state/province or edit the information as desired.
Enter the Trustee's name or use the P.I. Manager to select and paste a record. The person or institution who will administer the terms of the Living Trust is the "Trustee". Often the Grantor serves as the initial 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 to provide the name of the Grantor's spouse. The program will then provide the spouse's name in the Living Trust where appropriate. No other opportunity is offered to provide the spouse's name. Press [Ctrl+F1] for more information regarding the rights of the spouse.
Enter the spouse's name or use the P.I. Manager to select and paste a record.
Enter an X if this Living Trust is being prepared to make some changes to a prior Living Trust which is currently in operation. Press [Ctrl+F1] for more information.
Enter the title of the prior Living Trust or edit the information as desired.
Complete the title of the prior 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 Living Trust was signed.
LVT02
! Distribution Section (2 of 19)
!. DISTRIBUTIONS DURING THE GRANTOR'S LIFE. During the Grantor's life, the Trustee shall distribute all of the net income of this Trust to or for the benefit of the Grantor, or as the Grantor may designate. Such distributions shall be made at least !. The Grantor may change the amount of distribution at any time by providing notice to the Trustee. Any excess income shall be added to the principal at the discretion of the Trustee.
A. Payments During a "Disability" of the Grantor. During any period that the Grantor has a "disability", the Trustee may pay to or for the benefit of the Grantor such amounts of income and principal as the Trustee believes in the Trustee's sole discretion to be required for (i) the Grantor's support, comfort and welfare, (ii) the Grantor's accustomed manner of living, or (iii) any purpose that the Trustee believes to be in the best interest of the 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 the Grantor has a disability shall be made by the Grantor's most recent attending physician. The Trustee shall be entitled to rely on written notice of that determination.
Enter the frequency of distributions to the Grantor.
LVT03
! Grantor's Death Section (3 of 19)
!. DEATH OF THE GRANTOR. Upon the death of the Grantor,
! and after the payment of the Grantor's just debts, funeral expenses and expenses of last illness,
the following distributions shall be made:
Enter an X to include a phrase regarding the payment of debts and expenses. This phrase is usually included.
LVT04
! Optional Specific Distributions Section (4 of 19)
!. Specific Distributions. The following specific distributions shall be made from the assets of the Trust.
! However, such distributions shall be made only if
! the Grantor's spouse, !, does not survive the Grantor.
! the Grantor's spouse, !, and the Grantor's children do not survive the Grantor.
!. ! shall be distributed to !. If this beneficiary does not survive the Grantor, this bequest shall be
! distributed to !. If this beneficiary does not survive the Grantor, this bequest shall be added to the residuary assets of this Trust.
! added to the residuary assets of this Trust.
! [To include additional specific distributions.]
Enter an X if specific distributions will be included in the Living Trust. A specific distribution is a gift (distribution) 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 an X if specific distributions should be made only if the Grantor's spouse and/or children do not survive the Grantor.
Enter an X if specific distributions should be made only if the Grantor's SPOUSE does not survive the Grantor.
Enter an X if the specific distributions should be made only if the Grantor's SPOUSE AND CHILDREN do not survive the Grantor.
Enter a description of the specific distribution to be made. For example, "$1,000", "My wild rose china" or "My 1957 Chevy".
Enter the name of the beneficiary (a person or entity) who will receive the specific distribution or use the P.I. Manager to select and paste a record.
Enter an X to provide the name of an alternate beneficiary, if the first choice does not survive the Grantor.
Enter the alternate beneficiary's name or use the P.I. Manager to select and paste a record.
Enter an X if the distribution shall become a part of the residuary assets of the Living Trust if the first choice does not survive. The "residuary assets" are the remaining assets of the Trust after the debts, expenses, and specific bequests have been paid.
Enter an X to include additional specific distributions. The program permits a maximum of 16 specific distributions.
LVT05
! Continuation of Specific Distributions Section (4 of 19)
!. ! shall be distributed to !. If this beneficiary does not survive the Grantor, this bequest shall be
! distributed to !. If this beneficiary does not survive the Grantor, this bequest shall be added to the residuary assets of this Trust.
! added to the residuary assets of this Trust.
!. ! shall be distributed to !. If this beneficiary does not survive the Grantor, this bequest shall be
! distributed to !. If this beneficiary does not survive the Grantor, this bequest shall be added to the residuary assets of this Trust.
! added to the residuary assets of this Trust.
!. ! shall be distributed to !. If this beneficiary does not survive the Grantor, this bequest shall be
! distributed to !. If this beneficiary does not survive the Grantor, this bequest shall be added to the residuary assets of this Trust.
! added to the residuary assets of this Trust.
! [To include additional specific distributions.]
Enter an X to include an additional specific distribution.
Enter a description of the additional specific distribution. For example, "$1,000", "My wild rose china" or "My 1957 Chevy".
Enter the name of the beneficiary (a person or entity) who will receive the specific distribution or use the P.I. Manager to select and paste a record.
Enter an X to provide the name of an alternate beneficiary, if the first choice does not survive the Grantor.
Enter the alternate beneficiary's name or use the P.I. Manager to select and paste a record.
Enter an X if the distribution shall become a part of the residuary estate if the first choice does not survive. The "residuary estate" is the remaining property of an estate after the debts, expenses, and specific bequests have been paid.
Enter an X to include additional specific distributions. The program permits a maximum of 16 specific distributions.
LVT06
! Continuation of Specific Distributions Section (4 of 19)
!. ! shall be distributed to !. If this beneficiary does not survive the Grantor, this bequest shall be
! distributed to !. If this beneficiary does not survive the Grantor, this bequest shall be added to the residuary assets of this Trust.
! added to the residuary assets of this Trust.
!. ! shall be distributed to !. If this beneficiary does not survive the Grantor, this bequest shall be
! distributed to !. If this beneficiary does not survive the Grantor, this bequest shall be added to the residuary assets of this Trust.
! added to the residuary assets of this Trust.
!. ! shall be distributed to !. If this beneficiary does not survive the Grantor, this bequest shall be
! distributed to !. If this beneficiary does not survive the Grantor, this bequest shall be added to the residuary assets of this Trust.
! added to the residuary assets of this Trust.
! [To include additional specific distributions.]
Enter an X to include an additional specific distribution.
Enter a description of the additional specific distribution. For example, "$1,000", "My wild rose china" or "My 1957 Chevy".
Enter the name of the beneficiary (a person or entity) who will receive the specific distribution or use the P.I. Manager to select and paste a record.
Enter an X to provide the name of an alternate beneficiary, if the first choice does not survive the Grantor.
Enter the alternate beneficiary's name or use the P.I. Manager to select and paste a record.
Enter an X if the distribution shall become a part of the residuary estate if the first choice does not survive. The "residuary estate" is the remaining property of an estate after the debts, expenses, and specific bequests have been paid.
Enter an X to include additional specific distributions. The program permits a maximum of 16 specific distributions.
LVT07
! Continuation of Specific Distributions Section (4 of 19)
!. ! shall be distributed to !. If this beneficiary does not survive the Grantor, this bequest shall be
! distributed to !. If this beneficiary does not survive the Grantor, this bequest shall be added to the residuary assets of this Trust.
! added to the residuary assets of this Trust.
!. ! shall be distributed to !. If this beneficiary does not survive the Grantor, this bequest shall be
! distributed to !. If this beneficiary does not survive the Grantor, this bequest shall be added to the residuary assets of this Trust.
! added to the residuary assets of this Trust.
!. ! shall be distributed to !. If this beneficiary does not survive the Grantor, this bequest shall be
! distributed to !. If this beneficiary does not survive the Grantor, this bequest shall be added to the residuary assets of this Trust.
! added to the residuary assets of this Trust.
! [To include additional specific distributions.]
Enter an X to include an additional specific distribution.
Enter a description of the additional specific distribution. For example, "$1,000", "My wild rose china" or "My 1957 Chevy".
Enter the name of the beneficiary (a person or entity) who will receive the specific distribution or use the P.I. Manager to select and paste a record.
Enter an X to provide the name of an alternate beneficiary, if the first choice does not survive the Grantor.
Enter the alternate beneficiary's name or use the P.I. Manager to select and paste a record.
Enter an X if the distribution shall become a part of the residuary estate if the first choice does not survive. The "residuary estate" is the remaining property of an estate after the debts, expenses, and specific bequests have been paid.
Enter an X to include additional specific distributions. The program permits a maximum of 16 specific distributions.
LVT08
! Continuation of Specific Distributions Section (4 of 19)
!. ! shall be distributed to !. If this beneficiary does not survive the Grantor, this bequest shall be
! distributed to !. If this beneficiary does not survive the Grantor, this bequest shall be added to the residuary assets of this Trust.
! added to the residuary assets of this Trust.
!. ! shall be distributed to !. If this beneficiary does not survive the Grantor, this bequest shall be
! distributed to !. If this beneficiary does not survive the Grantor, this bequest shall be added to the residuary assets of this Trust.
! added to the residuary assets of this Trust.
!. ! shall be distributed to !. If this beneficiary does not survive the Grantor, this bequest shall be
! distributed to !. If this beneficiary does not survive the Grantor, this bequest shall be added to the residuary assets of this Trust.
! added to the residuary assets of this Trust.
! [To include additional specific distributions.]
Enter an X to include an additional specific distribution.
Enter a description of the additional specific distribution. For example, "$1,000", "My wild rose china" or "My 1957 Chevy".
Enter the name of the beneficiary (a person or entity) who will receive the specific distribution or use the P.I. Manager to select and paste a record.
Enter an X to provide the name of an alternate beneficiary, if the first choice does not survive the Grantor.
Enter the alternate beneficiary's name or use the P.I. Manager to select and paste a record.
Enter an X if the distribution shall become a part of the residuary estate if the first choice does not survive. The "residuary estate" is the remaining property of an estate after the debts, expenses, and specific bequests have been paid.\
Enter an X to include additional specific distributions. The program permits a maximum of 16 specific distributions.
LVT09
! Continuation of Specific Distributions Section (4 of 19)
!. ! shall be distributed to !. If this beneficiary does not survive the Grantor, this bequest shall be
! distributed to !. If this beneficiary does not survive the Grantor, this bequest shall be added to the residuary assets of this Trust.
! added to the residuary assets of this Trust.
!. ! shall be distributed to !. If this beneficiary does not survive the Grantor, this bequest shall be
! distributed to !. If this beneficiary does not survive the Grantor, this bequest shall be added to the residuary assets of this Trust.
! added to the residuary assets of this Trust.
!. ! shall be distributed to !. If this beneficiary does not survive the Grantor, this bequest shall be
! distributed to !. If this beneficiary does not survive the Grantor, this bequest shall be added to the residuary assets of this Trust.
! added to the residuary assets of this Trust.
Enter an X to include an additional specific distribution.
Enter a description of the additional specific distribution. For example, "$1,000", "My wild rose china" or "My 1957 Chevy".
Enter the name of the beneficiary a (person or entity) who will receive the specific distribution or use the P.I. Manager to select and paste a record.
Enter an X to provide the name of an alternate beneficiary, if the first choice does not survive the Grantor.
Enter the alternate beneficiary's name or use the P.I. Manager to select and paste a record.
Enter an X if the distribution shall become a part of the residuary estate if the first choice does not survive. The "residuary estate" is the remaining property of an estate after the debts, expenses, and specific bequests have been paid.
LVT10
! Optional Personal Property Section (5 of 19)
!. Tangible Personal Property. Subject to the preceding provisions of this trust, all jewelry, clothing, personal items, furniture, household furnishings, automobile(s), and other items of tangible personal property shall be distributed
! [SPOUSE option] to the Grantor's spouse, !.
! [CHILDREN option] to the Grantor's child(ren) in equal shares.
! [MULTIPLE BENEFICIARIES option: allows distribution among multiple named beneficiaries, including a spouse, children, and/or a children's trust] to the following beneficiaries
Enter an X to include specific instructions regarding the distribution of tangible personal property (for example, jewelry, furniture, cars, and other personal items). Specific distributions, if any were made, are excluded from this paragraph. Press [Ctrl+F1] for more information.
Enter an X if the Grantor's SPOUSE is the first choice to receive the tangible personal property. Press [Ctrl+F1] for more information regarding the rights of the spouse.
Enter an X if the Grantor's CHILDREN are the first choice to receive the tangible personal property. If a child dies before the Grantor, the deceased child's children will receive the share that would have been distributed to the deceased child.
Enter an X if named beneficiaries (persons and/or entities) are the first choice to receive the tangible personal property.
LVT11
! Continuation of Personal Property Section (5 of 19) - No Surviving Spouse
[Distribution of tangible personal property if the spouse does not survive]
If the Grantor's spouse does not survive the Grantor, the tangible personal property shall be distributed
! [CHILDREN option] to the Grantor's children in equal shares.
! in the same manner as provided for the distribution of the residuary assets of this Trust.
! [MULTIPLE BENEFICIARIES option: allows distribution among multiple named beneficiaries.] to the following beneficiaries
Enter an X if the tangible personal property should be distributed to the Grantor's CHILDREN, if the spouse does not survive the Grantor.
Enter an X if the tangible personal property should be added to the residuary assets of the Trust, if the spouse does not survive the Grantor.
Enter an X if the tangible personal property should be distributed to named beneficiaries (persons and/or entities) if the spouse does not survive the Grantor.
LVT12
! Continuation of Personal Property Section (5 of 19) - No Surviving Children
[Distribution of tangible personal property if the children do not survive]
If a child does not survive the Grantor, such deceased child's share shall be distributed in equal shares to the children of such deceased child who survive the Grantor, by right of representation. If a child does not survive the Grantor and has no children who survive the Grantor, such deceased child's share shall be distributed in equal shares to the Grantor's other children, if any, or to their respective children by right of representation. If no child of the Grantor survives the Grantor, and if none of the Grantor's deceased children are survived by children, the Grantor's tangible personal property shall be distributed
! in the same manner as provided for the distribution of the residuary assets of this Trust.
! [MULTIPLE BENEFICIARIES option: allows distribution among multiple named beneficiaries.] to the following beneficiaries
Enter an X if the tangible personal property should be added to the residuary assets of the Trust, if the children and grandchildren do not survive the Grantor.
Enter an X if the tangible personal property should be distributed to named beneficiaries (persons and/or entities) if the children and grandchildren do not survive the Grantor.
LVT13
! Continuation of Personal Property Section (5 of 19) - Multiple Beneficiaries
[The Grantor's tangible personal property shall be 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 - !%]
The share of any such beneficiary who does not survive the Grantor shall be added to the residuary assets of this Trust.
Enter an X if the tangible personal property will be distributed in "equal shares" to named beneficiaries, rather than as "percentages".
Enter an X if the tangible personal property will be distributed in "percentages" to named beneficiaries, rather than in "equal shares".
Enter an X to specify the FIRST beneficiary who will receive tangible personal property.
Enter the percentage of the tangible personal property to be distributed to the beneficiary.
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 to specify the SECOND beneficiary who will receive tangible personal property.
Enter an X to specify the THIRD beneficiary who will receive tangible personal property.
Enter an X to specify the FOURTH beneficiary who will receive tangible personal property.
Enter an X to specify the FIFTH beneficiary who will receive tangible personal property.
Enter an X to specify the SIXTH beneficiary who will receive tangible personal property.
Enter an X to specify the SEVENTH beneficiary who will receive tangible personal property.
Enter an X to specify the EIGHTH beneficiary who will receive tangible personal property.
The percentages total is calculated by the program. It is important that the percentages equal 100% if the personal property is being distributed as "percentages". This total is not calculated if the personal property is being distributed in "equal shares".
LVT14
! Residuary Assets Section (6 of 19)
[For more information regarding Residuary Assets, access Document Information.]
!. Residuary Assets. The residuary assets of this Trust shall be
! [SPOUSE option] distributed to the Grantor's spouse, !.
! [CHILDREN option] distributed to the Grantor's children 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] distributed to the heirs-at-law of the Grantor as determined under the laws of the State of !.
! [MULTIPLE BENEFICIARIES option: allows distribution among multiple named beneficiaries, including a spouse, children, and/or a children's trust.]
Enter an X if the remaining assets of the Trust should be distributed to the Grantor's SPOUSE.
Enter an X if the remaining assets of the Trust should be distributed to the Grantor's CHILDREN.
Enter an X if the remaining assets of the Trust should be distributed to a TRUST for the Grantor's 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 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 Grantor's HEIRS.
The program transfers the name of the state from a previous section. You may modify the information without affecting earlier data.
Enter an X if the remaining assets of the Trust should be distributed among several named beneficiaries (persons and/or entities).
LVT15
! Continuation of Residuary Assets Section (6 of 19) - No Surviving Spouse
[Distribution of residuary trust assets if the spouse does not survive]
If the Grantor's spouse does not survive the grantor, the residuary assets of this Trust shall be
! [CHILDREN option] distributed to the Grantor's children 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] distributed to the heirs-at-law of the Grantor as determined under the laws of the State of !.
! [MULTIPLE BENEFICIARIES option: allows distribution among multiple named beneficiaries, including a spouse, children, and/or a children's trust.]
Enter an X if the remaining assets of the Trust should be distributed to the Grantor's CHILDREN, if the spouse does not survive the Grantor.
Enter an X if the remaining assets of the Trust should be distributed to a TRUST for the Grantor's children, if the spouse does not survive the Grantor. 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), if the spouse does not survive the Grantor.
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 Grantor's HEIRS, if the spouse does not survive the Grantor.
The program transfers the name of the state from a previous section. 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) based on percentages or "equal shares", if the spouse does not survive the Grantor.
LVT16
! Continuation of Residuary Assets Section (6 of 19) - No Surviving Children
[Distribution of residuary trust assets if the children do not survive]
If a child does not survive the Grantor, such deceased child's share shall be distributed in equal shares to the children of such deceased child who survive the Grantor, by right of representation. If a child does not survive the Grantor and has no children who survive the Grantor, such deceased child's share shall be distributed in equal shares to the Grantor's other children, if any, or to their respective children by right of representation. If no child of the Grantor survives the Grantor, and if none of the Grantor's deceased children are survived by children, the residuary assets of this Trust shall be
! [NAMED BENEFICIARY option] distributed to
!, ! !
! Country: , !
! [HEIRS option] distributed to the heirs-at-law of the Grantor as determined under the laws of the State of !.
! [MULTIPLE BENEFICIARIES option: allows distribution among multiple named beneficiaries, including a spouse, children, and/or a children's trust.]
Enter an X if the remaining assets of the Trust should be distributed to a beneficiary (a person or entity), if the children do not survive the Grantor.
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 Grantor's HEIRS, if the children do not survive the Grantor.
The program transfers the name of the state from a previous section. 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) based on percentages or "equal shares", if the children do not survive the Grantor.
LVT17
! Continuation of Residuary Assets Section (6 of 19) - No Surviving Beneficiary
[Distribution of residuary trust assets if the named beneficiary does not survive]
If such beneficiary does not survive the Grantor, the residuary assets shall be
! [HEIRS option] distributed to the heirs-at-law of the Grantor as determined under the laws of the State of !.
! [MULTIPLE BENEFICIARIES option: allows distribution among multiple named beneficiaries, including a spouse, children, and/or a children's trust.]
Enter an X if the residuary estate should be distributed to the Grantor's HEIRS, if the named beneficiary does not survive the Grantor. Press [Ctrl+F1] for more information.
The program transfers the name of the state from a previous section. You can modify the information without affecting earlier data.
Enter an X if the residuary estate should be distributed to named beneficiaries (persons and/or entities) based on PERCENTAGES or "equal shares", if the named beneficiary does not survive the Grantor.
LVT18
! Continuation of Residuary Assets Section (6 of 19) - 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 Spouse was named as the primary beneficiary of the residuary assets on screen 12, this check box will be turned off. The interview checks the status of this check box to determine whether to ask about the spouse on this screen.
! [Spouse option]
! !% to
my spouse, !. If my spouse does not survive me, this share shall be distributed
! to !,
!, !.
! in equal shares to the other distributee(s) listed under this provision.
! This check box is defaulted on. If the children were named as the beneficiary of the residuary assets on screen 12 or 13, 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
my child(ren) in equal shares. If a child of mine does not survive me, such deceased child's share shall be distributed in equal shares to the child(ren) of such deceased child who survived me by right of representation. If a child of mine does not survive me and has no children who survive me, such deceased child's share shall be distributed in equal shares to my other child(ren), if any, or to their respective children by right of representation. If no child of mine survives me, and if none of my deceased children are survived by children, this share shall be distributed
! to my heirs-at-law as determined under the laws of the State of !.
! to !,
!, !.
! 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 Grantor 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 Grantor 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 Grantor 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 Grantor 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 Grantor 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 Grantor 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 Grantor 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 Grantor 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 - !%]
' 7
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 Grantor's spouse. You shouldn't enter an X if you have already designated the spouse as a beneficiary of the residuary assets.
Enter the percentage of the residuary assets to be distributed to the Grantor's spouse.
Enter an X to include the name of a second person or institution ("alternate beneficiary") who will receive the share or percentage if the spouse does not survive the Grantor.
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 spouse does not survive the Grantor. 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 residuary estate will be distributed to the Grantor's 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 Grantor's children.
Enter an X if the children's share should be distributed to the Grantor's HEIRS, if the children do not survive the Grantor. 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 Grantor.
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 Grantor. 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.
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 entity) or use the P.I. Manager to select and paste a record.
Enter an X to include the name of an alternate beneficiary who will receive the share or percentage if the first beneficiary does not survive the Grantor.
Enter an X if the share or percentage will be distributed in equal shares to the other distributee(s) if the beneficiary does not survive the Grantor.
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 entity) 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 entity) 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 entity) 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 entity) 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 entity) 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 entity) 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 entity) 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 in "percentages". This field is not calculated if the remaining assets are being distributed in "equal shares".
#n%LVT19
! Continuation of Residuary Assets Section (6 of 19) - 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 Grantor's 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 Grantor after the signing of this Agreement.
! any children born to or adopted by the Grantor after the signing of this Agreement.
! the Grantor's child, !.
! This Children's Trust is also intended to include any other children born to or adopted by the Grantor 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 on the Grantor's life, 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 Grantor's 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 Grantor's living children have attained the age of ! years, or when the last of the Grantor's 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 Grantor who survive to the time of this division, and (ii) children of the Grantor who predecease the time of this division leaving children (the Grantor's "grandchildren") who survive to such time, and final distribution of such shares shall be made as follows.
! The shares shall be distributed to the Grantor's 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 Grantor 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 Grantor's "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 Grantor so dies without any surviving children, such share shall be distributed in equal shares to the Grantor's other children, or to their respective descendants by right of representation. If no child of the Grantor survives to age ! years, upon the death of the last of the Grantor's children, the Trustee shall distribute the remaining assets of this Children's Trust in equal shares to the surviving descendants of the Grantor's children. If no child of the Grantor survives to age ! years, and if none of the Grantor's 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 Grantor 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 Grantor's 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 Grantor does not currently have children, but wants the trust to provide for that possibility.
Enter an X if the Grantor only has 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.
/LVT20
! Continuation of Residuary Assets Section (6 of 19) - Trust for Children
!. No Surviving Descendants. If the Grantor's children and all of the Grantor's descendants fail to survive the Grantor, or if all of the Grantor's children fail to attain age ! years and are not survived by children or descendants, the remaining assets of this Children's Trust shall be distributed to
! [Heirs at law option] the following beneficiaries in the percentages as shown:
!% to the persons who would have been entitled to the assets of the Grantor's estate under the laws of ! if the Grantor had died Intestate.
!% to the persons who would have been entitled to the assets of the estate of the Grantor's spouse under the laws of ! if the Grantor's spouse had died Intestate.
[Percentages Total - !%]
! [Named beneficiaries option] 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 remaining trust assets should be distributed to the heirs of the Grantor and/or the Grantor's spouse, rather than to named beneficiaries.
Enter an X if all or a part of the remaining trust assets should be distributed to the heirs of the Grantor.
Enter the percentage of the remaining trust assets, if any, that should be distributed to the heirs of the Grantor.
Enter an X if all or a part of the remaining trust assets should be distributed to the heirs of the Grantor's spouse.
Enter the percentage of the remaining trust assets, if any, that should be distributed to the heirs of the Grantor's spouse.
The percentages total is calculated by the program. It is very important that the percentages equal 100%.
Enter an X if the remaining assets will be distributed to named beneficiaries, rather than to the heirs of the Grantor or the Grantor's spouse.
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 beneficiary (a person or entity) 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 field is not applicable if the personal property is being distributed in "equal shares".
LVT21
! Trustee Powers Section (7 of 19)
!. 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 re-invest 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.
LVT22
! Optional Trustee Powers Section (8 of 19)
!. 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.
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 Grantor's business, if to do so seems appropriate.
LVT23
! Optional Additional Trustee Provisions Section (9 of 19)
!. ADDITIONAL TRUSTEE PROVISIONS. These additional provisions shall apply regarding the Trustee.
A. Grantor as Trustee. If at any time the Grantor is the Trustee, the Grantor may appoint a successor trustee by making such designation in writing. Such designee shall become the successor trustee upon acceptance of the terms and conditions of this Agreement.
B. Death or Disability of the Grantor as Trustee. If at any time the Grantor has a disability (as previously defined), or upon the death of the Grantor, !, 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 the Grantor. If the Grantor is 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 the Grantor (if serving as Trustee) or any qualified corporate Trustee.
! Any trustee serving under this Agreement, except the Grantor (if serving as Trustee) shall provide a bond of sufficient amount to protect the assets and income of the Trust.
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 Trustee or use the P.I. Manager to select and paste a record.
Enter the alternate Trustee's city or edit the information as desired.
Enter the alternate 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 the Grantor or a corporate Trustee (a bank, for example). 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 the Grantor. The purpose of a bond is to protect the Trust if the Trustee misappropriates the Trust assets.
LVT24
! Optional Right to Direct Investments Section (10 of 19)
!. RIGHT TO DIRECT INVESTMENTS. At any time that the Trust has investments, and provided that the Grantor does not have a "disability", the Grantor may direct any Trustee to purchase, sell, or retain any trust investment.
Enter an X to include a provision that allows the Grantor to control the investments of the Living Trust unless the Grantor is not mentally competent.
LVT25
! Revoke or Amend Section (11 of 19)
!. REVOCATION OR AMENDMENT. During the Grantor's life, the Grantor may revoke at any time, and/or the Grantor may amend, this Agreement by delivering to the Trustee an appropriate written revocation or amendment, signed by the Grantor. 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 Grantor for the purpose of withdrawing assets from the Trust.
LVT26
! Governing Law Section (12 of 19)
!. GOVERNING LAW. This Agreement shall be construed in accordance with the laws of the State of !.
The program assumes that this Living Trust document will be used in the Grantor's state. If this is not the case, you may enter the name of a different state.
LVT27
! Perpetuities Savings Clause Section (13 of 19)
[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 Grantor, the Grantor's spouse, if any, and any other beneficiary of this Agreement who is living on the date that this Agreement is signed.
LVT28
! Severability Section (14 of 19)
!. 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.
LVT29
! Miscellaneous Provisions Section (15 of 19)
[These provisions clarify how the 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.
!. 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, unless such person or entity is also surviving on the thirtieth day after the date of the Grantor's death.
!. Common Disaster. If the Grantor and the Grantor's spouse 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 the Grantor's life insurance, property passing under any will or other contracts, if any, and property passing under this Trust, be conclusively presumed that the Grantor
! predeceased the death of the Grantor's spouse, and notwithstanding any other provision of this Trust, the Grantor's spouse (or the Grantor's spouse's estate as the case may be) shall receive the distribution to which the Grantor's spouse would otherwise be entitled to receive without regard to a survivorship requirement, if any.
! survived the death of the Grantor's spouse.
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 Grantor and the Grantor's spouse. 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 an X if the Grantor should be presumed to die before the Grantor's spouse, allowing the spouse's estate to receive any distributions under the Trust that the spouse would have received.
Enter an X if the Grantor's spouse should be presumed to die before the Grantor.
LVT30
! Optional Spouse Identity Section (16 of 19)
!. Spouse.
! I am married to ! and all references in this Trust to "my spouse" are references to !.
! I am married to ! and the failure of this Trust to provide for any distribution to ! is intentional.
! I am not currently married to anyone.
This optional section clarifies the Grantor's marital status, and his or her intentions regarding the inclusion or exclusion of the Grantor's spouse in this Trust. It is recommended that this section be included. Press [Ctrl+F1] for more information regarding the rights of the spouse.
Enter an X if the Grantor is married, and if the Living Trust includes provisions for the benefit of the Grantor's spouse. Press [Ctrl+F1] for more information regarding the rights of a spouse.
Enter an X if the Grantor is married, but the Living Trust excludes the Grantor's spouse from receiving distributions from the estate. Press [Ctrl+F1] for more information regarding the rights of the spouse.
Enter an X if the Grantor is not married. Press [Ctrl+F1] for more information regarding the rights of the spouse.
LVT31
! Optional Children Identity Section (17 of 19)
!. Children.
! I do not have any children at the time of the signing of this Trust.
! However, all references in this Trust to "my child" or "my children" include any child(ren) born to or adopted by me after the signing of this Trust.
! The name of my child is !.
! The names of my children are:
Name: !
Name: !
Name: !
Name: !
Name: !
Name: !
Name: !
Name: !
Name: !
Name: !
! Turn this check box off if the Grantor has no children.
! All references in this Trust to "my child" or "my children" include the above child or children, and any other children born to or adopted by me after the signing of this Trust.
! The failure of this Trust to provide for any distribution to
! my child, !,
! my children:
is intentional.
This optional section provides an opportunity to list the names of the Grantor's children, if any. This section should be included if the Grantor has children. An optional paragraph allows the Grantor to specifically exclude one or more of the children from receiving any distribution from the Living Trust.
Enter an X if the Grantor has no children.
Enter an X if the Grantor intends any references to the Grantor's child(ren) in the Trust to apply to future children of the Grantor.
Enter an X if the Grantor has 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 Grantor has more than one child.
Enter an X if ALL of the Grantor's present and future children are included as beneficiaries in the Living Trust.
Enter an X if one or more of the Grantor's children are NOT included as beneficiaries in the Living Trust.
Enter an X if the Grantor wishes to exclude one child from the Trust.
The program transfers the child's name from above if you indicated that the Grantor has only one child. You may enter a different name if the Grantor has two or more children but wishes to exclude only one child from the Trust.
Enter an X if the Grantor wishes 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.
LVT32
! Optional Exclusion Section (18 of 19)
!. 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 Grantor to state the names of persons or organizations who will be intentionally excluded from receiving distributions from the Grantor's estate.
Use this space to list any individuals or organizations who will be specifically excluded from receiving any part of the Grantor's estate under this Living Trust.
LVT33
! Signature Section (19 of 19)
[This Living Trust is being signed in the state of !]
___________________________________________
Signature - !, Grantor
! [Trustee is an individual.]
___________________________________________
Signature - !, Trustee
! [Trustee is a corporation.]
!, Trustee
By: ________________________________________
Enter the state where the Living Trust will be signed. The program will provide the appropriate acknowledgement form for the state that is entered here.
Enter an X if the Trustee is an individual, rather than a corporation.
Enter an X if the Trustee is a corporation, rather than an individual.
If known, enter the name of the officer who will sign on behalf of the 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.
Idaho,Montana,Oklahoma,Pennsylvania,Washington
Idaho,Montana,Oklahoma,Pennsylvania,Washington
LVT35
! Continuation of Signature Section (19 of 19) - !
[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/Commonwealth of !
County/Parish of ________________________________
On this the ______ day of _______________, 19____, before me personally appeared !, to me known to be the person described in and who executed the foregoing instrument as Grantor, and acknowledged that he/she executed same as his/her free act and deed.
On this the ______ day of _______________, 19____, before me personally appeared !, to me known to be the person described in and who executed the foregoing instrument as Trustee, and acknowledged that he/she executed same as his/her free act and deed.
! [Corporation]
On this the ______ day of _______________, 19____, before me personally appeared !, as ! of !, to me known to be the person described in and who executed the foregoing instrument as Trustee, and acknowledged that he/she executed same in his/her authorized capacity, and as his/her free act and deed.
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.
Idaho,Montana,Oklahoma,Pennsylvania,Washington
Idaho,Montana,Oklahoma,Pennsylvania,Washington
LVT36
! Continuation of Signature Section (19 of 19) - !
[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 !, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument and acknowledged that he/she executed the same as Grantor 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 !, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument and acknowledged that he/she executed the same as Trustee for the purposes therein contained.
! [Corporation]
On this the ______ day of _______________, 19____, before me, _________________________________________, personally appeared !, as ! of !, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument and acknowledged that he/she executed the same in his/her authorized capacity as Trustee for the purposes therein contained.
In witness whereof I hereunto set my hand and official seal.
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.
Idaho,Montana,Oklahoma,Pennsylvania,Washington
Idaho,Montana,Oklahoma,Pennsylvania,Washington
LVT37
! Continuation of Signature Section (19 of 19) - California
State of California
County of _________________________
[Grantor Notary Block]
On __________________ before me, ____________________________________, personally appeared !,
[ ] personally known to me
- OR -
[ ] proved to me on the basis of satisfactory evidence
to be the person whose name is subscribed to the within instrument as Grantor and acknowledged to me that he/she executed the same in his/her authorized capacity, and that by his/her signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument.
On __________________ before me, ____________________________________, personally appeared
! [Individual]
! [Corporation]
! as ! of !,
[ ] personally known to me
- OR -
[ ] proved to me on the basis of satisfactory evidence
to be the person whose name is subscribed to the within instrument as Trustee and acknowledged to me that he/she executed the same in his/her authorized capacity, and that by his/her signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument.
! Continuation of Signature Section (19 of 19) - Florida
[Grantor Notary Block]
State of Florida
County of _________________________
The foregoing instrument was acknowledged before me this _____ day of ________________, 19____ by !, as Grantor, who is personally known to me or who has produced ______________________________________ as identification.
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