California Trust

REVOCABLE LIVING TRUST AGREEMENT

THIS REVOCABLE LIVING TRUST AGREEMENT, (hereinafter "Trust"), is being made on this the day of , 20 , by and between of County, State of California, hereinafter referred to as the Trustor, whether one or more, and the Trustee designated below and shall be governed and administered in accordance with the following terms and provisions:

ARTICLE I
NAME OF TRUST

1. NAME OF TRUST: This trust may be referred to as THE REVOCABLE LIVING TRUST and is created in accordance with California Probate Code.

ARTICLE II
IDENTIFICATION

2. TRUSTOR AND BENEFICIARIES: The Trustors or Settlors of this trust are and , Husband and Wife, residing at , , California . As used herein, the term “Trustor” shall mean all trustors of this trust, whether one or more. The Trustors are married and parents of the following living children:

The Beneficiaries of the Trust during the lifetime of the Trustors is the Trustors. Except as otherwise provided herein, upon the death of the Trustor, the Beneficiaries are the Children of the Trustor.

ARTICLE III
TRUSTEE APPOINTMENT

3. TRUSTEE APPOINTMENTS: The Trustor hereby appoints , the Trustor, as Trustee of this Trust. If the Trustor is unable to serve as Trustee for any reason, then the Trustor hereby appoints as Successor Trustee. If neither the first or second Trustee are able to serve as Trustee for any reason, then the Trustor hereby appoints as Successor Trustee, whether one or more.

ARTICLE IV
ASSETS OF TRUST

4. ASSETS OF TRUST: All rights, title, and interest in and to all real and personal property, tangible or intangible, listed on the attached Exhibit “A”, is hereby assigned, conveyed and delivered to the Trustee for inclusion in this Trust.

5. ADDITIONS TO TRUST PROPERTY: Additional property may be conveyed to the Trust by the Trustor, or any other third party at any time.

6. RIGHTS TO TRUST ASSETS: Except as specifically provided herein, the Beneficiaries of this trust shall have no rights to any assets of the trust.

7. HOMESTEAD EXEMPTION: Grantor(s) reserves the right to use, occupy and reside upon any real property placed in this Trust as their permanent residence during their lives.

ARTICLE V
TRUSTEE POWERS AND OTHER PROVISIONS

8. POWERS: The Trustor does hereby grant to the Trustee all powers necessary to deal with any and all property of the Trust as freely as the Trustor could do individually.

9. AUTHORITY TO ACT: The approval of any court, the Trustor, or any beneficiary of any Trust created by this Trust shall not be required for any dealings with the Trustee of this Trust.

ARTICLE VI
TRUST ADMINISTRATION DURING LIFE OF TRUSTOR

10. MANAGEMENT OF TRUST PROPERTY: All property of the Trust shall be managed by the Trustee at the direction of the Trustor.

11. INCAPACITY OF TRUSTOR: During any period of incapacitation of the Trustor, as defined by this Trust Agreement, the Successor Trustee may apply or expend all or a part of the income and principal of this Trust.

12. RESERVATION OF RIGHTS: Except during periods of incapacitation as defined by this Trust Agreement, upon delivery to the Trustee of a written instrument signed and acknowledged by the Trustor, the Trustor reserves during his or her lifetime the following rights:

(A) To revoke this Trust Agreement in its entirety.

(B) To alter or amend this instrument in any and every particular.

(C) To change the identity or number of the Trustee and/or Successor Trustee.

(D) To withdraw from the operation of this Trust any or all of the Trust property.

ARTICLE VII
DISTRIBUTIONS DURING LIFETIME OF TRUSTORS

13. GENERAL DISTRIBUTIONS: The following options are available to the Trustee regarding the distribution of principal or income to or for a beneficiary:

(A) Payments may be made directly to the beneficiary as an allowance.

(B) Payments may be made to the Guardian of the beneficiary.

(C) Payments may be made to a relative of the beneficiary upon agreement to expend such income or principal solely for the benefit of the beneficiary.

(D) The Trustee may expend such income or principal directly for the beneficiary.

(E) In making distributions, the Trustee shall be mindful of the Beneficiaries' health, education, support, maintenance, comfort and general welfare needs.

14. RESIDENCE: A residence may be purchased or otherwise obtained by the Trustee for the benefit of an income beneficiary.

15. OTHER PAYMENTS: At the request of any Trustor in writing, the Trustee shall make lump sum or periodic payments to any third party designated by such Trustor.

ARTICLE VIII
TRUST ADMINISTRATION AFTER TRUSTOR’S DEATH

16. TRUSTEE: Upon the death of the Trustor, the Successor Trustee shall continue to administer the assets of this Trust.

17. BENEFITS PAYABLE TO TRUST: Upon the death of the Trustor, the Trustee is authorized to collect any and all benefits payable to the Trust.

18. LIABILITIES OF TRUSTOR’S ESTATE: Prior to the distribution of any assets of this Trust, the Trustee may pay to the Trustor’s estate any or all of the Trustor’s just debts, funeral expenses, and administration expenses.

19. TAXES: Upon the death of the Trustor, all estate and inheritance taxes that become due and payable shall be paid by the Trustee.

20. ADDITIONAL DISTRIBUTIONS: The Trustee is hereby authorized to pay to the Probate Estate of the deceased Trustor as much of the income and principal of this Trust as necessary.

21. GIFTS: The Trustee shall, upon the death of the Trustor, make such gifts of tangible personal property as directed by the Trustor’s Will or Schedule B.

ARTICLE IX
TRUSTOR’S DEATH

22. DISTRIBUTIONS: Upon the death of the Trustor, the following distributions shall be made from the property of this Trust after payment of the Trustor’s debts and expenses.

(a) DISTRIBUTION UPON DEATH OF FIRST TRUSTOR: Following the death of the first Trustor, the Trustee shall pay to or for the benefit of the Surviving Spouse so much of the income and principal as necessary.

(b) DISPOSITION OF TRUST ESTATE ON DEATH OF SURVIVING TRUSTOR: If any of the children of the Trustors survives the Surviving Trustor, the Trustee shall divide the Trust property into shares of equal market value.

(c) SPRINKLING TRUST: The Trustee shall hold, administer, and distribute the assets of the Sprinkling Trust as follows:

(i) DISCRETIONARY PAYMENTS BEFORE DIVISION INTO SHARES.

(ii) DISCRETIONARY PAYMENTS OF INDIVIDUAL TRUSTS.

(iii) TERMINATION AND DISTRIBUTION OF INDIVIDUAL TRUSTS.

(iv) TERMINATION OF INDIVIDUAL TRUST ON DEATH OF CHILD.

(v) FINAL DISPOSITION.

(d) SPRINKLING TRUST FOR ISSUE: Each share or portion of the Trust estate allocated to a Sprinkling Trust for Issue shall be held, administered, and distributed as a separate Trust.

23. DEATH OF BENEFICIARY: Should a named beneficiary die before a complete distribution of this Trust is made, and that Beneficiary leave no living issue, then that beneficiary’s share shall go to the surviving Beneficiaries.

ARTICLE X
TRUSTEE PROVISIONS

24. THIRD PARTIES: Any person dealing in good faith with the Trustee shall deal only with the Trustee and shall presume the Trustee has full power and authority to act on behalf of the Trust.

25. COMPENSATION: Any beneficiary serving as Trustee shall do so without compensation for his or her services, except reimbursement for reasonable expenses.

26. BOND AND QUALIFICATIONS: Bond shall not be required of the Trustee or any Successor Trustee.

27. SUCCESSOR TRUSTEE(S): No Successor Trustee shall be responsible for acts of any prior Trustee.

28. REMOVAL OF SUCCESSOR TRUSTEES: A Successor Trustee may be removed by the last individual to serve as Trustee, or by majority vote in interest in Trust income.

29. DELEGATION OF POWERS: Any management function of any Trust may be delegated by any Trustee to any Successor Trustee.

30. LIMITED AMENDMENT POWER: The Trustee shall enjoy a limited power to amend management functions of this Trust only as may be required.

31. RESIGNATION OF TRUSTEE: Any Trustee may resign by writing filed among the trust papers effective upon the trustees’ discharge.

32. NONLIABILITY FOR ACTION OR INACTION BASED ON LACK OF KNOWLEDGE OF EVENTS.

33. TRUSTEE AS BENEFICIARY. A trustee who is also a beneficiary may exercise discretionary powers as stated.

34. WAIVER OF ACCOUNTING: Except as otherwise provided herein, neither this trust nor any Trustee shall be required to provide an accounting.

ARTICLE XI
TRUST ADMINISTRATION

35. ALLOCATION TO PRINCIPAL AND INCOME – SEPARATE TRUSTS: All expenses and all receipts of money or property may be allocated to principal or income in the sole discretion of the Trustee.

36. ALIENATION: Excepting the Trustor, no income or principal beneficiary shall have any right or power to anticipate, pledge, assign, sell, transfer, alienate or encumber his or her interest.

37. TERMINATION OF TRUST: Should the aggregate principal of any Trust at any time be valued at Twenty Thousand Dollars ($20,000) or less, the Trustee may terminate such Trust and distribute the assets.

38. ELECTIONS: The Trustee and the Personal Representative of the Trustor's estate will have various options in the exercise of discretionary powers.

39. BENEFICIARY DESIGNATION: Upon written designation by the Trustor of a beneficiary for a qualified plan or IRA benefits made payable to this Trust, the Trustee shall distribute the right to receive such benefits to the designated beneficiary.

40. CERTIFICATE OF TRUST: The Trustee is authorized to execute a Certificate of Trust describing any Trust matter.

41. REGISTRATION OF TRUST ASSETS: Assets of this Trust during the Trustor’s lifetime shall be registered as follows: , Trustee, or his or her successors in trust, under THE REVOCABLE TRUST, dated the day of , 20 , and any amendments thereto.

42. TAX IDENTIFICATION: This Trust shall be identified during the Trustor’s lifetime by the Trustor's Social Security Number .

43. SPENDTHRIFT CLAUSE.

44. PERPETUITIES CLAUSE.

ARTICLE XII
TERMS AND DEFINITIONS

The terms below, as used throughout this Trust Agreement, shall have the following meaning

45. INCAPACITATED: For the purposes of this Trust Agreement, if a Trustee or a beneficiary is under a legal disability or unable to properly manage affairs, the person shall be deemed incapacitated.

46. REHABILITATION: For the purposes of this Trust Agreement, a person shall be deemed rehabilitated when able to properly manage his or her own affairs.

47. GUARDIANSHIP: During any period of incapacity or incompetence, the Trustor nominates as Guardian of the Trustor’s property the same person(s) in name and order of succession who serve as Trustee.

48. SURVIVORSHIP: This Agreement shall be binding upon the heirs, personal representatives, successors and assigns of the parties hereto.

49. APPLICABLE LAW: This Agreement shall be construed and regulated according to the laws of the State of California.

50. TRUSTEE AND TRUST: The term “Trustee" refers to the single, multiple and Successor Trustee, who at any time may be appointed and acting in a fiduciary capacity under the terms of this agreement.

51. GENDER - SINGULAR AND PLURAL.

52. IRC: The term "IRC" refers to the Internal Revenue Code and its valid regulations.

53. SERVE OR CONTINUE TO SERVE.

54. ISSUE: The term "issue" shall include adopted issue of descendants and lineal descendants, both natural and legally adopted indefinitely.

55. NOTICE: No person shall have notice of any event or document until receipt of written notice.

56. MERGER: The doctrine of merger shall not apply to any interests under any Trust.

57. REPRESENTATION: In any Trust matter a beneficiary whose interest is subject to a condition shall represent the interests in the Trust of those who would take in default of said condition.

SIGNATURES

IN WITNESS WHEREOF, on this the day of , 20 , Trustor, and Trustee have signed this Instrument.

State of California

County of

On before me, , personally appeared , who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.

WITNESS my hand and official seal.

Signature (Seal)

SCHEDULE A

THE REVOCABLE LIVING TRUST

The sum of One Hundred Dollars ($100.00) in cash.

TOGETHER WITH: