Fill and Sign the Alimony 497331030 Form

Alimony Trust in Lieu of Alimony and all Claims This Trust Agreement is made _________________ (date) , between _______________________ (Name of Husband) , of _________________________________ ________________________________________ (street address, city, state, zip code) , Husband , ______________________ (Name of Wife) , of ______________________________ ____________________________________________ ( street address, city, state, zip code) , Wife , and _________________________ (Name of Trust Company) , a corporation organized and existing under the laws of ______________ (state) , with its principal office located at ____________________________________________________________________________ (street address, city, state, zip code) , Trustee . 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: Husband conveys, assigns, transfers, and sets over to _______________________ (Name of Trust Company) , as Trustee , (general description of property) _______________ ____________________________________________________________________________, a list of which is contained in Schedule A , attached and incorporated by reference, in trust, pursuant to the terms of this Agreement. This conveyance, assignment and transfer of said property is being made to Trustee to have and to hold the same on trust, however, for the following uses and purposes: 1. Payments of Debts To pay from the principal of the trust estate as soon as may be convenient after the execution and delivery of this Trust Agreement, the following amounts: A. $___________ (dollar amount) in cash to Wife from which she undertakes and agrees to pay all bills incurred by her up to the present time, which might be a charge against Husband , and which Husband has not expressly agreed to pay. B. An additional $___________ (dollar amount) to _______________________ (name of law firm) , of ____________________________________________________ (address of law firm) , for services rendered to Wife by that firm. 2. Distribution of Income to Wife To pay from the income from the trust estate to Wife annually during her lifetime the following amounts: A. $___________ (dollar amount) per annum beginning as of _______________ (date) , up to, and until ______________ (date) . B. $___________ (dollar amount) per annum beginning on _____________ (date) , and continuing during the lifetime of Wife . Payments are to be made in quarterly installments on the first day of December, March, June, and September, the first payment to be made on ______________ (date) . C. To pay the amount of income tax that may be payable by Wife on the specific amount of income receivable by her under this Agreement. The amount of such income tax so payable from the trust estate shall be computed on the basis that specific amount of income received by Wife from the trust estate is her total income. 3. Investments; Deficiency or Excess of Income A. Trustee shall have the right and is authorized to collect the interest and principal from all assets and investments in the trust fund and reinvest the same as allowed by this Trust Agreement. B. In case the net income from the trust fund is not sufficient at any time to pay the future payments above provided to be made to Wife at the time the same are due, then Trustee shall request such deficiency to be made good by Husband . If Husband shall fail to make good the deficiency before the installment which becomes due next after the date of the notice is payable, then Trustee shall make up the deficiency from the principal of the trust fund. C. In case the net income from the trust fund exceeds the payments required from time to time to be made, and if the principal of the trust fund is not presently impaired, then Trustee shall pay such excess to Husband , his heirs, executors, administrators, or assigns, with the right, however, to from time to time reserve a reasonable amount of income to fairly insure the prompt payment of future installments to Wife . If, however, the principal of the trust fund shall at any time be impaired, and if Husband shall not make good such impairment, all income from the trust fund in excess of the amount from time to time required for the annual payments and charges against the fund shall become a part of the principal of the trust fund and be added to it to be invested and reinvested in the manner provided above, until the aggregate amount for the time being of the assets in the trust fund shall reach the principal amount above specified. 4. Principal Amount The principal amount of the trust fund created shall be deemed to be $_________ (dollar amount) up to _____________ (date) , and $__________ (dollar amount) plus any accretions to it from profits. 5. Investments In investing, reinvesting, purchasing, acquiring, exchanging, and selling property for the benefit of this Trust, Trustee shall exercise 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 the foregoing standard, Trustee is authorized to acquire every kind of property, real, personal, or mixed, and to make every type of investment, specifically including, but not limited to, participation in any common trust funds administered by Trustee, corporate obligations and securities of every kind, preferred or common stocks, and interests in investment trusts and mutual funds, that persons of prudence, discretion, and intelligence acquire for their own account irrespective of whether that investment would otherwise be classified as a legal or nonlegal investment under the laws of _______________ (name of state ) . 6. Provisions in Lieu of Alimony and Claims It is agreed between the parties, and more especially by Wife , that the provisions made for her are in lieu of, and in full settlement of alimony, and of any and all dower rights or statutory interests in the estate of Husband , and in lieu of any and all claims for separate maintenance and allowance for her support. 7. Definition of Net Income The term net income means the income and interest arising from the trust fund, exclusive of the profits realized from the sale of any of the items of it, and less income taxes paid by the Trustee as herein provided and any necessary charges and expenses paid or incurred in connection with the management and protection of the trust fund and Trustee's proper compensation for its services. 8. Annual Report The property belonging to the trust fund shall be held in the name of Trustee as Trustee under this Agreement and shall constantly be shown on its books and records to be a part of the trust estate, and all funds belonging to it shall be deposited in its name as Trustee, and Trustee shall during the month of November of each year make a written report as to the conditions of the trust fund to Husband and to Wife , the report to contain a complete inventory and description of the properties belonging to the trust fund and a complete statement of the principal and income receipts and disbursements in connection with it. 9. Compensation of Trustee Trustee as Trustee shall receive reasonable compensation for its services, not exceeding, however, ______ % of the income, and from all investments and reinvestments made by it during the existence of the Trust, and _____% of the principal distributed on final distribution, whether by distribution to Husband , his heirs, executors, administrators, successors, or assigns, or to a successor Trustee, appointed pursuant to the terms and conditions of this Agreement, it being understood that Trustee for the time being may purchase through its investment departments with the principal funds belonging to the trust estate, investment property of the kind authorized in this Agreement., without affecting Trustee's right to the compensation above specified for its services. 10. Successor Trustee Husband , his heirs, executors, administrators, or assigns, may at any time with the written consent of Wife , appoint a successor Trustee, in the place and stead of the Trustee designated in this agreement or the Trustee then acting, by designating and appointing such successor Trustee in writing, and on paying to the then acting Trustee all charges and fees due and owing to it or accruing to it pursuant to the terms of this Agreement. On there being deposited with the Trustee then acting, the written appointment of a successor Trustee, signed by Husband , the written consent of Wife consenting to such appointment, and a written and duly executed acceptance of the Trust by the successor Trustee appointed, and on there being paid to the acting Trustee the charges and fees described above, the acting Trustee shall transfer to the successor Trustee all of the property and funds then belonging to the trust estate created by this agreement. 11. Binding Effect The obligations of this Agreement shall be binding on the heirs, executors, administrators, and assigns of Husband , and on the successor and successors of Trustee, and the benefits of this Agreement, after the termination of the Trust created by this Agreement, shall inure to Husband , his heirs, executors, administrators, and assigns. 12. Distribution on Death of Wife On the death of Wife , Trustee shall assign, transfer, and set over all property and moneys held by it to Husband , his heirs or assigns, and this Trust and this Agreement shall then cease and terminate. Witness our signatures this the _____________ (date) . (Name of Trustee) By: _______________________________ ________________________________ __________________________________ ________________________________ (P rinted name & Office in Corporation) (Name & Signature of Husband) _______________________________ ________________________________ (Name & Signature of Wife) (Attach Schedule A) (Acknowledgements)