Legal Trust Forms

DECLARATION OF TRUST

This Declaration of Trust is made on by and between Settlor Name: (the "Settlor"), and Trustee Name: (the "Trustee").

RECITALS

WHEREAS, the Settlor desires to transfer, convey and deliver certain property to the Trustee to be held, administered and distributed pursuant to the terms of this Declaration for the benefit of the Beneficiaries named herein; and

WHEREAS, the Trustee has accepted the fiduciary duties imposed by law and agrees to hold and administer the Trust Estate in accordance with the terms and conditions set forth in this Declaration; and

WHEREAS, the Settlor intends that the provisions of this instrument shall constitute a trust and shall be construed and enforced according to its terms;

NOW, THEREFORE, in consideration of the mutual covenants and other good and valuable consideration, the Settlor hereby declares and the Trustee accepts and agrees to hold the Trust Estate upon the terms and conditions set forth below.

1. NAME OF TRUST

2. TRUST PROPERTY

The Settlor hereby transfers and delivers to the Trustee, and the Trustee hereby accepts, all property listed on Schedule A attached hereto and incorporated herein, together with any additions or other property subsequently transferred to the Trustee (collectively, the "Trust Estate"). The initial Trust Estate is described as follows:

3. REVOCABILITY

The Settlor declares that this trust is revocable    irrevocable unless otherwise set forth below. If revocable, the Settlor reserves the right to alter, amend, revoke or terminate this Declaration in whole or in part during the Settlor's lifetime by a signed instrument delivered to the Trustee.

4. BENEFICIARIES

The beneficiaries of the Trust (each a "Beneficiary" and collectively the "Beneficiaries") shall be as follows:

5. DISTRIBUTION AND ADMINISTRATION

During the Settlor's lifetime, the Trustee shall hold, conserve and manage the Trust Estate and may distribute income and principal to or for the benefit of the Settlor in such amounts and at such times as the Trustee, in the Trustee's sole and absolute discretion, deems appropriate for the Settlor's health, education, maintenance and support. Upon the Settlor's death or incapacity as defined by applicable law, the Trustee shall administer and distribute the Trust Estate to the Beneficiaries in accordance with the terms set forth herein.

6. TRUSTEE POWERS

The Trustee shall have all powers conferred by law and those powers necessary or desirable to carry out the purposes of the Trust, including, without limitation, the power to invest, reinvest, sell, exchange, convey, lease, mortgage, borrow, pledge, hold property uninvested, compromise claims, enter into contracts and engage agents and advisors. The Trustee's powers shall be exercised in a fiduciary manner and in accordance with the terms of this Declaration.

7. COMPENSATION AND ACCOUNTING

The Trustee shall be entitled to reasonable compensation for services rendered and to reimbursement for reasonable expenses actually incurred in the administration of the Trust. The Trustee shall keep and render to the Settlor (if then living and competent) and to the Beneficiaries an accounting of the Trust Estate as required by law or upon written request by any Beneficiary in accordance with applicable fiduciary standards.

8. SUCCESSOR TRUSTEE

9. NOTICES

Any notice required or permitted under this Declaration shall be in writing and shall be delivered personally, by certified mail (return receipt requested), or by a nationally recognized overnight courier to the addresses below or to such other address as either party may designate by notice in accordance with this section.

10. GOVERNING LAW

This Declaration shall be governed by and construed in accordance with the laws of the state specified below without regard to principles of conflicts of law. The parties submit to exclusive jurisdiction and venue in the courts of that state for disputes arising hereunder.

11. AMENDMENT AND WAIVER

Except as otherwise provided herein, this Declaration may be amended by the Settlor during the Settlor's lifetime if the trust is revocable. Any amendment shall be in writing and signed by the Settlor and accepted by the Trustee. No delay or failure to exercise any right or remedy shall operate as a waiver of such right or remedy.

12. ENTIRE AGREEMENT

This Declaration, including any schedules or exhibits attached hereto, constitutes the entire agreement between the parties with respect to the subject matter and supersedes all prior agreements and understandings, whether written or oral.

13. SEVERABILITY

If any provision of this Declaration is determined to be invalid or unenforceable by a court of competent jurisdiction, such determination shall not affect the remaining provisions, which shall remain in full force and effect and shall be construed so as to effectuate the parties' intent to the greatest extent permitted by law.

14. COUNTERPARTS

This Declaration may be executed in counterparts, each of which shall be deemed an original, and all of which together shall constitute one and the same instrument. Signatures delivered by electronic means shall be effective for all purposes.

TRUSTEE ACCEPTANCE

The Trustee named herein accepts the duties and responsibilities of Trustee under this Declaration and agrees to administer the Trust Estate in accordance with the terms hereof and applicable law.

Sign Now