Fill and Sign the Rcw 2515046 Professional Limited Liability Companies Form

- 1 - REVOCABLE LIVING TRUST AGREEMENT THIS REVOCABLE LIVING TRUST AGREEMENT, (hereinafter "Trust"), is being made on this the ________ day of _______________, 20_____, by and between ___________________________________ of ____________________ County, State of Virginia, hereinafter referred to as the Trustor and the Trustee designated below and shall be governed and administered in accordance with the following terms and provisions: ARTICLE I NAME OF TRUST 1. NAME OF TRUST: This trust may be referred to as THE ________ REVOCABLE LIVING TRUST. ARTICLE II IDENTIFICATION 2. TRUSTOR AND BENEFICIARIES: The Trustor or Settlor of this trust is _______________________, an Individual, residing at ___________________________________, ___________________________________, Virginia ________. The Trustor is the parent of the following living children: ______________________________________________ The Beneficiary of the Trust during the lifetime of the Trustor is the Trustor. Except as otherwise provided herein, upon the death of the Trustor, the Beneficiaries are the Children of the Trustor. ARTICLE III TRUSTEE APPOINTMENT 3. TRUSTEE APPOINTMENTS: The Trustor, hereby appoints __________________, the Trustor, as Trustee of this Trust. If the Trustor, is unable to serve as Trustee for any reason, then the Trustor hereby appoints __________________ as Successor Trustee. If neither the first or second Trustee are able to serve as Trustee for any reason, then the Trustor hereby appoints __________________ as Successor Trustee, whether one or more. The Trustee shall have all powers as provided in this agreement and the laws of the State of Virginia. The principal place of administration of this trust is the
Office of the trust or , at such other place of administration as the trust or or , shall designate. Article iv duties of trust or 4. Administration obligations of the trust or: (a) the trustee must appoint, as trustee for this trust, a financial manager and an escrow agent or, if the trust or its beneficiary, are unable to appoint an escrow agent and the trust or has provided the trustee with an escrow agent appointment, then the trustee may elect to have an escrow agent appointed. (b) before the expiration of the term of the trust, the trustee must cause to be recorded an irrevocable written assignment, as defined in §2-118 of this title for the account. (c) the trustee must promptly deliver to the trust or, upon the written request of the trustor, a signed statement of the duties and responsibilities applicable to this trust or must promptly mail or deliver to the trust or or , as applicable, the trustor a copy of the irrevocable statement; (d) upon the request of the trustee, the trust or must furnish, as soon as possible and within ten days after receiving such request, records or other evidence, and furnish a written explanation of the need for those records or the evidence. (e) the trustee and the trust or must provide to the other, within ten days from the date there was a material change in the information or a material change in the circumstances, such information or circumstances and must provide to the other a written explanation of the changed information or the changed circumstances as to that time. (f) the trustee and the trust or must provide the other in person or by telephone or other electronic means (including by telefax, if the trustee is able to do so), as applicable, at least once each month or during office hours. (g) the trustee must keep all financial records and related information as provided by this part. (h) the trustee shall be personally liable to the trust or for any negligence in the execution, delivery, or safekeeping of trust obligations. (i) the trustee has the powers of a court in a proceeding for the enforcement of trust obligations. Article v rights of trustees 5. Rights of trustor 6. Obligation of the trust or to perform obligations 7. Duties of trustee 8. Remedies for breach 9. Limitations on damages 10. Successor trustee (a) (i) the trust or has the estate of the trust to the extent of the assets of the trust, or,