Legal Trust Form

LEGAL TRUST FORM

This Declaration of Trust is made on Trust Date: by Grantor Name: (the "Grantor") in favor of Trustee Name: (the "Trustee") to be held, administered and distributed pursuant to the terms of this instrument, which shall be known as Trust Name: .

RECITALS

WHEREAS, the Grantor desires to create a trust for the management, preservation and distribution of the property transferred to the Trustee under the terms set forth herein; and

WHEREAS, the Trustee has accepted the duties and responsibilities conferred by this Declaration of Trust and agrees to hold and administer the trust property according to the terms and conditions of this instrument; and

WHEREAS, the parties intend that the trust shall be revocable or irrevocable as indicated below and that the Trustee shall have the powers necessary to effectuate the purposes of the trust.

NOW THEREFORE

NOW THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the Grantor hereby transfers, conveys and delivers to the Trustee, in trust, the property described in Schedule A attached hereto and such additional property as may be transferred to the Trustee, to hold and administer upon the following terms and conditions.

1. DEFINITIONS

For purposes of this Declaration of Trust, the following terms shall have the meanings set forth: "Trust Estate" means the property transferred to the Trustee and any additions thereto; "Beneficiary" means any person or entity entitled to receive income or principal from the Trust Estate under this Trust.

2. TRUST PROPERTY

The Trustee shall hold as Trust Estate all property transferred to the Trustee by delivery, assignment, endorsement or other conveyance, including specifically the property described in Schedule A:

3. REVOCABILITY AND AMENDMENT

The Grantor hereby declares that this trust is: Revocable by the Grantor during the Grantor's lifetime Irrevocable. If revocable, the Grantor may revoke or amend this Declaration of Trust in whole or in part by a signed, written instrument delivered to the Trustee during the Grantor's lifetime.

4. DISTRIBUTIONS DURING GRANTOR'S LIFETIME

During the Grantor's lifetime, the Trustee shall pay to or apply for the benefit of the Grantor such sums from income or principal as the Trustee deems necessary for the Grantor's health, education, support and maintenance in accordance with the Grantor's accustomed standard of living.

5. DISTRIBUTION UPON GRANTOR'S DEATH

Upon the death of the Grantor, the Trustee shall distribute the Trust Estate as follows: Primary Beneficiary(ies) and distribution instructions:

6. TRUSTEE POWERS

The Trustee shall have all powers conferred by law and those necessary or desirable to administer the Trust, including without limitation the power to invest and reinvest, to sell or exchange property, to lease real property, to retain assets without liability for depreciation, to borrow money and encumber trust property, to settle claims, to allocate receipts and disbursements between income and principal in accordance with applicable law, and to exercise or refrain from exercising any rights incident to ownership of securities.

7. DUTIES OF TRUSTEE; STANDARD OF CARE

The Trustee shall administer the Trust solely in the interests of the beneficiaries, exercise reasonable care, skill and caution, and act impartially among beneficiaries. The Trustee may act through agents, but shall exercise reasonable supervision over such agents. The Trustee shall not be liable for losses resulting from acts or omissions made in good faith and in the exercise of reasonable judgment, except for willful misconduct or gross negligence.

8. COMPENSATION AND EXPENSES

The Trustee is entitled to reasonable compensation for services and to reimbursement of reasonable expenses incurred in the administration of the Trust. Any compensation shall be charged to the Trust Estate unless otherwise agreed in writing by the beneficiaries.

9. ACCOUNTING

The Trustee shall keep adequate records and shall provide beneficiaries with accountings at least annually or upon reasonable request, showing receipts, disbursements, investments and the status of the Trust Estate.

10. SUCCESSOR TRUSTEE

If the Trustee is unable or unwilling to serve, the successor Trustee shall be Successor Trustee Name:

The successor Trustee shall have all powers and duties granted to the Trustee herein. Upon acceptance of appointment, the successor Trustee shall take title to the Trust Estate and continue administration without the need for a court order unless required by applicable law.

11. SPENDTHRIFT PROVISION

To the maximum extent permitted by law, no beneficiary shall have the power to anticipate, assign, encumber or surcharge the beneficiary's interest in the Trust, and the interest shall not be subject to claims of the beneficiary's creditors prior to actual distribution.

12. INDEMNIFICATION

The Trustee shall be indemnified and held harmless by the Trust Estate from and against all claims, liabilities, expenses and losses reasonably incurred in the proper administration of the Trust, except to the extent resulting from the Trustee's gross negligence or willful misconduct.

13. NOTICES

All notices required or permitted under this Declaration of Trust shall be in writing and delivered personally or sent by certified mail, return receipt requested, to the parties at the addresses below or at such other address as a party may designate by written notice:

14. GOVERNING LAW

This Declaration of Trust shall be governed by and construed in accordance with the laws of the state of Governing Law State: without regard to principles of conflicts of law.

15. ENTIRE AGREEMENT; SEVERABILITY

This Declaration of Trust constitutes the entire agreement among the parties with respect to the subject matter hereof. If any provision is held invalid or unenforceable, such invalidity shall not affect the remaining provisions, which shall remain in full force and effect.

16. AMENDMENT; WAIVER; COUNTERPARTS

No amendment or waiver of any provision of this Declaration of Trust shall be effective unless made in a signed writing by the Grantor (if alive and if the trust is revocable) or by all parties having an interest in the Trust Estate if required herein. This instrument may be executed in counterparts, each of which shall be deemed an original.

17. EXECUTION AND CERTIFICATION

The Grantor and Trustee have executed this Declaration of Trust on the dates set forth below. The Trustee may furnish a certified copy of this Declaration of Trust to third parties as evidence of the Trust's existence and the Trustee's authority.

Sign Now