Agreement between Trustor and Trustee Terminating Trust
after Disclaimer by Beneficiary
Agreement made on the ______________________________________________
(date), between __________________________________________________________
(Name of Trustor) of ______________________________________________________
________________________________________________________________________
___________________________________ (street address, city, county, state, zip code) ,
referred to herein as Trustor, and ____________________________________________
(Name of Trustee), a corporation organized and existing under the laws of the state of
______________________________________________, with its principal office located
at ______________________________________________________________________
________________________________________________________________________
___________________________________ (street address, city, county, state, zip code) ,
referred to herein as Trustee.
Whereas, Trustor has been advised that _________________________________
_________________________ (N ame of Beneficiary) , of ________________________
________________________________________________________________________
________________________________________________________________________
___________________________ (street address, city, county, state, zip code) , has
executed and delivered an instrument, dated ____________________________________
____________ (date), renouncing his claims under a trust instrument between Trustor
and Trustee, dated _________________________________________________ (date);
and
Whereas, the trust estate is now held solely at the will and subject to the wishes of
Trustor and is free from all claim to the estate by ________________________________
_________________________________ (Name of Beneficiary); and
Whereas, with _____________________________________________________
(Name of Beneficiary) eliminated as a beneficiary, the Trust is too indefinite in its terms
to be capable of judicial enforcement. Therefore, the Trust may be revoked, cancelled,
and annulled by mutual agreement between the Trustor and Trustee; and
Whereas, this instrument is intended to evidence such agreement of termination;
Now, therefore, for and in consideration of the mutual covenants contained in this
agreement, and other good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, the parties agree as follows:
1. Termination
The grant evidenced by the trust instrument is now revoked and annulled. The
trust created by such instrument is terminated effective the day and date of the execution
and delivery of this instrument.
2. Accounting
Immediately following the execution and delivery of this Agreement, Trustee will
account for, transfer, assign, pay, deliver, and return to Trustor each and all of the assets
then constituting the principal and undistributed income of the trust estate, less the
reasonable charges and expenses due to Trustee in relation to the trust estate.
3. Indemnification of Trustee
Trustor, Trustor's heirs, executors, and administrators, shall indemnify Trustee,
Trustee's successors, and assigns, from all loss, costs, liability, and expense to which
Trustee may now or later be subjected in connection with the turning over and return to
Trustor of the assets constituting the trust estate or arising in any way out of the fact that
Trustee has, at the request of Trustor, joined in the execution and delivery of this
instrument. Pursuant to this Agreement, Trustee has transferred, assigned, and delivered
to Trustor all of the assets constituting the trust estate.
The parties have executed this Agreement on this the _______________________
_________________ (date).
____________________________________
(Printed Name of Trustor)
____________________________________
( Signature of Trustor)
____________________________________
(Name of Corporate Trustee)
By: ________________________________
(Printed Name of Officer)
____________________________________
(Signature of Officer)
STATE OF ________________________________________________
COUNTY OF _______________________________________
Personally appeared before me, the undersigned authority in and for the said
county and state, on this ______ day of _______________________________________,
20______, within my jurisdiction, the within named _____________________________
___________________________ (Name of Trustor), who acknowledged that he is
Trustor in the Trust Agreement described in the above and foregoing instrument, and that
in said representative capacity he executed the above and foregoing instrument, after first
having been duly authorized so to do.
___________________________________________
NOTARY PUBLIC
My Commission Expires:
______________________
STATE OF ________________________________________
COUNTY OF _________________________________
Personally appeared before me, the undersigned authority in and for the said
County and State, on ______________________________________________ (date) ,
within my jurisdiction, the within-named ______________________________________
(Name of Officer), who acknowledged that he is a (e.g., Vice-President and Trust
Officer) ___________________________________________________ of
_______________________________________________________ (Name of Trustee) ,
a ______________________________________________ (Name of State) corporation,
Trustee in the Trust Agreement described in the above and foregoing instrument, and that
for and on behalf of the said corporation, and as its act and deed in the capacity as
Trustee, he executed the above and foregoing instrument, after first having been duly
authorized by said corporation so to do.
___________________________________________
NOTARY PUBLIC
My Commission Expires:
_____________________
Form of acknowledgement may vary from state to state)