Fill and Sign the Irrevocable Trust Agreement for Benefit of Trustors Childrenand Grandchildren with Spendthrift Trust Provisions Form

Irrevocable Trust Agreement with Joint Trustors for Benefit of their Children with Spendthrift Trust Provisions This Trust Agreement is made on _________________ (date), between _____________________________ (Names of Trustors) of ________________ (Name of County) County, State of _____________, hereinafter referred to as the Trustors, and ____________________ (Name of Trustee), a banking corporation organized and existing under the laws of the United States with its principal office located at _____________________________________________________________ _______________ (street address, city, state, zip code). This Trust shall be governed and administered in accordance with the following terms and provisions: 1. Transfer into TrustThe Trustors, in consideration of the agreements and undertakings set forth below made and assumed by the Trustee, and other valuable consideration, does assign, convey, and set over to the Trustee and the Trustee's successors the property listed and described in Schedule A, which is attached and incorporated by reference. The Trustee is authorized to and agrees that it will receive and hold that property and such additional property as may be transferred, assigned, or bequeathed to the Trustee from time to time by any person or organization, to become a part of the principal of the Trust created by this Agreement, and all investments and reinvestments of the same and income for the uses as set forth below. 2. Additions to Trust Any person may, from time to time, with the consent of Trustee, by conveyance, assignment, transfer, or will, add property of any kind to the Trust Estate, or any part of it, which shall then be subject to all the terms and provisions of this Trust. 3. Payment of ExpensesTrustee shall pay or reserve sufficient funds to pay all expenses of management and administration of the Trust Estate, including the compensation of Trustee, all or any part of which may, in the discretion of Trustee, be charged either to income or principal of the Trust Estate. 4. Net IncomeThe income of the Trust remaining after the payment by Trustee of expenses authorized in Section 3 and charged to income, shall be and is referred to as net income. 5. Income to TrustorsThe net income shall be distributed to or for the use and benefit of Trustors, ________________________
(names of trustees), all persons to whom trust property is allocated in the trust. 6. Principal the trust property shall be allocated to (name of trust or), as trustee in trust, or to another person, in which event, principal shall be determined in accordance with such laws and rules as shall be the subject of any trust instruments made, executed or entered into in connection with such trust. 7. Trust asset any income or dividends or other income or capital, which may arise out of the trust, shall be deemed and taken to be trust asset as to the respective trustees. 8. Trust property any income or dividends or other income or capital to which it is not applicable shall be deemed and taken to be trust property as to the trustees, except as to income and capital which may arise out of or be available to the trust from assets, the trust may allocate to trustees or otherwise, in such manner as trustees shall determine, in such trust property such income or dividends or some or all of which shall be deemed and taken to be trust property to the persons named in schedule 7. 9. Payment of interest in the amount of interest, payable in trust, shall be made at each year interval until the income earned in the prior year or such other period during which trust property is distributed to members of the trust or to the trust estate is exhausted. Interest shall be made annually on the sum of each trust property which is allocated to trustee as trustee, the period of allocation, as determined by the interest rate prevailing when such trust asset is so divided or allocated. 10. Deposits of income, or accrued interest of the trust, all or any part of which, after the payment of any expenditures, or the distribution thereof, may be used and applied for the purpose of making the trust income, or interest, available to members of the trust, and the net earnings accruing upon the trusts cash in trust, to be paid out as trust income to the persons named in schedule 9. 11. Expenditures of the trust, paid in trust, to be made in the order of their priority with payments to be made until the trusts' income is exhausted. 12. Deposits of such trusts trust funds any income or other trust funds with the same exceptions as to income or interest and all expenses. Schedule a — property transferred and assigned in the trust. Schedule b — trustor's income and principal. Schedule c — trustee's income and principal.