Legal Trust Sign Template

LEGAL TRUST SIGN TEMPLATE

This Trust Agreement is made on this day of , by and between Settlor Name: with mailing address and Trustee Name: with mailing address .

Recitals

WHEREAS, Settlor desires to create a trust for the benefit of the beneficiaries designated herein and to transfer certain property to Trustee to hold, administer and distribute pursuant to the terms of this Agreement;

WHEREAS, Trustee is willing to accept and hold such property and to perform the duties and exercise the powers set forth in this Agreement;

WHEREAS, the parties intend that the trust shall be governed by the provisions set forth below.

NOW THEREFORE, in consideration of the mutual covenants contained herein, the parties agree as follows:

1. Name and Trust Property

1.1 Trust Name. The trust created by this Agreement shall be known as the (the "Trust").

1.2 Trust Property. Settlor hereby transfers and delivers to Trustee the property described below and such additional property as may be hereafter added to the Trust.

2. Trust Purpose

The primary purpose of the Trust is to hold, manage and distribute trust property for the benefit of the beneficiaries named in this Agreement in accordance with the terms set forth herein and for such other lawful purposes consistent with the fiduciary duties of the Trustee.

3. Beneficiaries

3.1 Primary Beneficiaries. The primary beneficiaries of the Trust are designated as follows:

3.2 Contingent Beneficiaries. Contingent beneficiaries, if any, shall receive distributions only if no primary beneficiary is then living or entitled to receive distributions as provided herein.

4. Distributions

Trustee shall make distributions of income and principal in accordance with the standards and schedules set forth below. Trustee shall exercise reasonable discretion, taking into account the needs, best interests and tax consequences for beneficiaries.

5. Trustee Powers

Trustee shall have all powers conferred by law and those additional powers necessary or convenient to manage and administer the Trust, including without limitation the power to acquire, sell, exchange, lease, mortgage, invest, reinvest, borrow, pledge, compromise claims, enter into contracts, employ agents and advisors, and allocate receipts and disbursements between income and principal as appropriate. Such powers shall be exercised in accordance with the Trustee's fiduciary duties described below.

6. Trustee Duties and Standard of Care

Trustee shall act as a fiduciary for the beneficiaries, shall exercise reasonable care, skill and caution, shall act in good faith and in the best interests of the beneficiaries, and shall avoid conflicts of interest. Trustee may rely on advice of counsel, accountants and other professional advisors and shall not be liable for acts performed in reliance upon such advice except for gross negligence or willful misconduct.

7. Revocation and Amendment

Settlor elects that the Trust shall be: Revocable    Irrevocable

If the Trust is revocable, Settlor may amend or revoke the Trust in whole or in part by a written instrument signed by Settlor and delivered to Trustee. Any amendment or revocation shall be effective upon receipt by Trustee and upon compliance with any formalities required by law.

8. Accounting; Records

Trustee shall keep full and accurate records of all transactions and shall provide beneficiaries with accounting or information reasonably requested in accordance with applicable law. Trustee may charge the Trust for reasonable expenses incurred in connection with preparing and delivering such records.

9. Successor Trustee

If Trustee is unable or unwilling to serve, a successor trustee shall be appointed in the following order of priority: (a) person named by Settlor in a written instrument delivered to Trustee; (b) person appointed by unanimous written agreement of the beneficiaries; or (c) person appointed by court of competent jurisdiction. Successor Trustee shall have all the powers and duties of Trustee under this Agreement.

10. Notices

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

11. Amendments

Any amendment to this Agreement shall be in writing, signed by Settlor (if living and if the Trust is revocable) and by Trustee, and shall expressly state the effective date of amendment. No oral amendment shall be effective.

12. Waiver

No failure or delay by any party in exercising any right, power or remedy under this Agreement shall operate as a waiver thereof. A waiver must be in writing and signed by the party granting the waiver.

13. Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the state specified below without regard to its conflicts of law principles.

14. Entire Agreement; Severability

This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements and understandings, whether written or oral. If any provision of this Agreement is held invalid or unenforceable, the remaining provisions shall continue in full force and effect.

15. Counterparts

This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, and all of which together shall constitute one and the same instrument. Signatures delivered electronically shall be deemed original signatures for all purposes.

16. Trustee Acceptance

Trustee, by signing below, accepts the trust created by this Agreement and agrees to administer the Trust in accordance with the terms of this Agreement and applicable law.

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