Fill and Sign the Irrevocable Trust Agreement for Benefit of Trustors Children Form

Irrevocable Trust Agreement for Benefit of Trustor's Children Discretionary Distributions of Income and Principal This Trust Agreement is made on ____________________________ (date), between ____________________________ (Name of Trustor), of _____________________________ _____________________________________ (street address, city, county, state, zip code), hereinafter referred to as Grantor, and _____________________________ (Name of Trustee) of __________________________________________________________________________ _________ (street address, city, county, state, zip code), hereinafter referred to as Trustee. The Trustor, in consideration of the agreements and undertakings made by the Trustee and other valuable consideration, does irrevocably assign, transfer, and set over to the Trustee and the Trustee's successors the property set forth in Schedule A, which is attached and incorporated by reference. The Trustee is authorized to and agrees that he will receive and hold the property and, subject to Article Four, such additional property as may be transferred, assigned, or bequeathed to the Trustee by any other person or organization, to become a part of the Trust Fund created under this Agreement, and all investments and reinvestments of and income from the Fund, for the following uses and Trusts: 1. Distributions of Principal and IncomeThe Trustee shall invest and hold the principal and any undistributed income of the Trust and apply or pay to or for the benefit of the Children of the Trustor (as such term is defined below, and including Children of the Trustor now in existence or later born) so much of the principal and income from the Trust (in equal or unequal shares or amounts) as shall in the absolute judgment and uncontrolled discretion of the Trustee be deemed wise and expedient and in the best interests of any or all of the Children of the Trustor. 2. TerminationA. The Trust will terminate on the latest of the following events:1. When there shall be no living Child of the Trustor who has not attained the age of _______ (number) years; 2. When there shall be no living Child of the Trustor; or 3. On termination by the Trustee pursuant to Paragraph C below. B.
1. 3. 5. D. The trustees' rights under this trust agreement are as follows:1. To administer all the operations and investments described in schedule a. 2. To make such distributions or investments as the trustees may determine to become necessary in the best interests of the trust and the children of the trust or in an amount or amounts as may be agreed upon, and without regard for or limitation to any agreement or undertaking made by, or on behalf of the trustee; 3. Different stock. The trust shall have the right to appoint and direct in writing, for the sole purpose of electing, as trustees for the trust, a new corporation of stock, (whether under the name and style of trust) in lieu of existing stock in the trust, and the board of directors, or the trustee, shall by writing executed on behalf of the trust provide for the election of such new stock in any manner considered by the trustee to be acceptable in the opinion of the trustee. A transfer of the trust assets to such corporation shall be deemed to terminate the trust and any such election shall not be thereafter made. Any corporation or other subsidiary thereof that is created as a result of this trust agreement shall be treated as a single corporation, and all rights of the trustee under paragraph a1 of this section must be exercised and fulfilled by it. Any distribution of the trust assets of this trust agreement shall automatically constitute a qualified distribution and constitute a distribution to each child of a trust to the extent that the income from such distribution would provide a benefit to the children of a trust, and the distribution is subject to any restrictions which may be in effect under the terms of a qualified election. 3. 4. 5. The trust income and principal must be invested and distributed without regard for or limitation to any agreement or undertaking made by, or on behalf of, the trustee and the trustees' rights and responsibilities under this trust agreement are limited or restricted to the following:a. (a) no dividend and payment of dividends required to be paid for such trust or the children thereunder; (b) no dividend and payment of dividends in any manner inconsistent or in excess of those authorized by law and required by this trust agreement; b. Distribution of income and principal a. The trust shall be entitled to receive, without payment of interest, for the term of the trust, from distributions of.