Fill and Sign the Revocable Trust Form Sample

Revocable Trust Agreement Regarding Coin Collection This Trust Agreement, hereinafter called the Trust, is being made this _____ day of ______________, 20_____, by and between _____________________ (Name of Trustor) , of ____________________________________________________________________________ (street address, city, state, zip code) , as the Trustor, and (Name of Trustor) , also serving as Trustee. This Trust shall be known as the __________________ (Name) Revocable Trust , and shall be administered in accordance with the following terms: 1. Trust Purposes A. Any person shall deal with the Trustee without the approval of any court, the Trustor , or any Beneficary of any Trust created by this Trust, and shall assume that the Trustee has the same power and authority to act as an individual does in the management of his or her own affairs. Further, any person presented with a copy of this page and any other page of the Trust shall accept same as conclusive proof of the terms and authority granted by this Trust. B. Trust Assets _________________________ (Name of Trustor) , as Trustor , does hereby assign, convey and deliver to the Trustee , all of the Trustor 's right, title, and interest in and to the coin collection listed and described in Exhibit A attached hereto and made a part hereof by reference. Said coin collection and this assignment shall be deemed to include all coins made a part of said collection, now owned or hereafter acquired. A voluntary conveyance by the Trustor of a Trust asset which may remain registered to the Trustor individually shall convey any interest held by this Trust. C. Abstract of Trust In order to facilitate the convenient administration of the Trust, including the registration and transfer of assets to and from the Trust, the Trustee shall have the power to execute an Abstract of Trust describing any Trust matter, including but not limited to a description of the Trust terms, the administrative powers of the Trustee and the identity of any current Trustee . Any person who receives an original or photocopy of said Abstract of Trust shall be held harmless from relying on same, and shall not be obligated to inquire into the terms of the Trust or maintain a copy of the Trust. D. Tax Identification During the life of the Trustor , the Trust shall be identified by the Trustor 's Social Security Number. Upon the death of the Trustor , the successor Trustee shall apply to the IRS for a tax identification number for the Trust and any other Trust created by this Trust Agreement. 2. Administration during the Life of the Trustor A. Trustee: The Trustee of this Trust shall be the Trustor , if the Trustee cannot continue to serve for any reason, the Successor Trustee shall be ___________________ (Name of Successor Trustee) . The powers of the Trustee and the Successor Trustee are set forth in Article 8 , below. B. Disposition of Income and Principal 1. The Trustee shall manage the property of the Trust estate and collect any income. 2. In the event Trustor or Trustee is incapacitated as defined by this Trust Agreement, the Successor Trustee shall manage the property of the Trust estate and collect any income. C. Right to Add to Collection The Trustor, or any other person may, at any time and from time to time add property acceptable to the Trustee to the Trust. D. Right to Revoke and Amend Trustor reserves the right while alive, except any period when incapacitated, at any time and from time to time, by an instrument in writing, signed, acknowledged, and delivered to the Trustee : 1. To revoke this instrument entirely and to receive from the Trustee all property remaining after making payment or provision for payment of all expenses connected with the administration of this Trust, 2. From time to time to alter or amend this instrument in any and every particular, 3. From time to time to change the identity or number, or both, of the Trustee and/or Successor Trustee , 4. From time to time to withdraw from the operation of this Trust any or all of the Trust property. 3. Administration after the Death of the Trustor A. Trustee The Trustee (meaning the Successor Trustee then acting as Trustee ), shall continue to administer the assets of this Trust as well as any property received by this Trust under the terms of the Trustor 's will or from any other source to the extent it is included in the Trustor 's gross estate for Federal Estate Tax purposes, and shall distribute said assets as provided below. B. Collection of Proceeds Trustee may take such action as is necessary to collect benefits payable to the Trust. If probate administration has not or will not be commenced, the Trustee shall have the power to collect tax refunds, refunds under any contract, or any other item which might otherwise be payable to the deceased Trustor 's estate pursuant to the terms of this Trust. 4. Specific Gifts of Tangible Personal Property: Upon the death of the Trustor , the Trustee shall make such gifts of the tangible personal property of the Trustor as may be directed by this Trust Agreement. The cost of storing, packing, shipping and insuring any tangible personal property gift prior to delivery to its intended recipient shall be paid by the estate of the deceased Trustor. 5. Death of the Trustor A. Distributions and Disbursements Upon the death of the Trustor , the following distributions shall be made: (Names of Grandchildren who are to receive the Coin Collection and whether it is to be divided among them or given to them as a group) ___________________________ ______________________________________________________________________ . B. Death of Beneficiary before Complete Distribution of Trust In the event a Beneficary dies before a complete distribution of his Trust is made, then their share shall go to Trustor’s surviving grandchildren named in Paragraph A of this Article. C. Perpetuities Clause Notwithstanding any provision of this Trust to the contrary, all Trusts shall vest in the then Beneficiary twenty-one years after the death of the last of the issue of the Trustor who was alive when the Trustor died. 6. Incapacity, Rehabilitation and Guardianship Throughout this Trust Agreement, where there have been references to "incapacity" and "rehabilitation", those two terms shall have the following meanings: A. Incapacitated If __________________ (Name of Trustor) , as a Trustee or a Beneficary , is under a legal disability or by reason of illness, or mental or physical disability is, in the written opinion of two doctors currently practicing medicine, unable to properly manage his affairs, he shall be deemed incapacitated for the purposes of this Trust Agreement. B. Rehabilitation Trustor, as a Trustee or a Beneficary , once deemed incapacitated under Paragraph A of this Article, shall be deemed rehabilitated when he is no longer under a legal disability or when, in the written opinion of two doctors currently practicing medicine, he is able to properly manage his/her affairs. Upon rehabilitation, he shall resume the duties and powers he had prior to incapacity and his successors shall relinquish all powers and be relieved of all duties. C. Guardianship In the event the Trustor is adjudicated incompetent by any court having jurisdiction, pursuant to _______________ (Name of State) Statutes or similar provisions of the laws of any other state having jurisdiction, the Trustor does hereby nominate the same person in name and order of succession who serve as Trustee as provided in Article 2-A as Guardian of the Person and Property of the incompetent Trustor or Trustee. The Trustor further directs that the Court honor Article I-B of the Trust by permitting the completion of the conveyance to the Trustee of any assets which remain registered to the Trustor . 7. Powers of Trustee In addition to any powers given to it by law or otherwise, Trustee is authorized and empowered with respect to any property at any time held under any provision of this Agreement, including accumulated income, if any, and any property held pursuant to any power in Trust, and until the actual distribution of the property: A. To sell on such terms and conditions as it in its sole discretion may determine. B. To invest and reinvest in and to acquire by exchange or otherwise property of any character including stocks of any classification, obligations, or other property, real or personal, whether or not of the same kind, and participations in any common trust fund administered by Trustee, without regard to diversification and without being limited to the investments authorized by law for the investment of trust funds. C. To retain property of any kind received by it without regard to diversification and without being limited to the investments authorized by law for the investment of trust funds. D. To join in, consent to, or become a party to any reorganization, merger, consolidation, dissolution, readjustment, exchange, or other transaction and any plan or action under or in connection with the same; to deposit any such property with any protective, reorganizational, or similar committee; to delegate discretionary powers to the committee and to share in the payment of its expenses and compensation and to pay any assessments levied with respect to the property and to receive property under any reorganization, merger, consolidation, dissolution, readjustment, exchange or other transaction whether or not the same is authorized by law for the investment of trust funds. E. To exercise all conversion, subscription, voting, and other rights of whatsoever nature pertaining to any such property and to grant proxies, discretionary or otherwise, with respect to those rights. F. To make and retain joint investments and investments of undivided interests in any property, real or personal, whether or not all the property is held under this agreement and whether or not the provisions under which such other property is held are similar. G . With respect to any real property (including real property acquired on foreclosure or by deed in lieu of foreclosure) at any time held under this agreement, to sell, exchange, partition, lease, sublease, mortgage, improve, or otherwise alter on such terms as it may deem proper, and to execute and deliver deeds, leases, mortgages, or other instruments relating to the real property. Any lease may be made for such period of time, including a lease beyond a (e.g. five) _______ -year period, as it may deem proper and without the approval of any court. H. To extend the time of payment of any bond (or other obligation) and mortgage held by it, or of any installment of principal or interest or hold such bond (or other obligation) and mortgage after maturity as past due; to consent to the alteration or modification of any terms of the same, waive defaults in the performance of the terms of the same; to foreclose any such mortgage or compromise or settle claims under the mortgage; to take over, take title to, or manage the property, or any part of it, affected by any such mortgage, either temporarily or permanently, and in partial or complete satisfaction of any claim under the mortgage; to protect the property against or redeem it from foreclosure or nonpayment of taxes, assessments, or other liens; to insure, protect, maintain, and repair the property; and generally without limitation by the foregoing specification to exercise with respect to such bond (or other obligation) and mortgage on such property all rights and powers as may be exercised by a person owning similar property in his or her own right. I. To borrow money to provide funds for any purpose without resorting to the sale of any assets; and for the purpose of securing the repayment of the borrowed money, to pledge, mortgage, or otherwise encumber any and all such property on such terms, covenants, and conditions as it may deem proper and also to extend the time of payment of any loans or encumbrances which at any time may be encumbrances on any such property irrespective of by whom the same were made or where the obligations may or should ultimately be borne on such terms, covenants, and conditions as it may deem proper. J. Without limitation by the specification of the following, to exercise any and all the powers, authorities, and discretions provided in this agreement in respect of any shares of stock of Trustee and any successor corporation whether by merger, consolidation, reorganization, sale, or otherwise. K. To register any property belonging to any Trust created by this Agreement in the name of its nominee, or to hold the same unregistered, or in such form that title shall pass by delivery. L. To distribute in cash or in kind or partly in cash and partly in kind. 8. Transactions with Third Persons No person or corporation dealing with Trustee shall be required to investigate Trustee 's authority for entering into any transaction or to administer the application of the proceeds of any transaction. 9. Removal and Resignation of Trustee Trustee may be removed at any time by Trustor or after Trustor 's death by written notice to Trustee . Trustee may resign by written notice to Trustor during Trustor 's lifetime or after Trustor 's death to ___________________ (Name of Successor Trustee) . Until the accounts of Trustee are settled and Trustee is discharged, Trustee shall continue to have all the powers and discretions granted to it under this Agreement or conferred by law. In the event of the removal or resignation of Trustee , Trustor or may by written instrument appoint a successor Trustee . The successor Trustee , on executing a written acceptance of the Trusteeship and on the settlement of the accounts and discharge of the prior Trustee , shall be vested, without further act on the part of anyone, with all the estate, title, powers, duties, immunities, and discretions granted to the original Trustee . 10. Governing Law This Trust shall be governed and construed in all respects according to the laws of the state of ______________. 11. Binding Effect This Agreement shall be binding on Trustor , Trustor 's executor, administrator, successors and assigns, and Trustee and Trustee 's successors and assigns. 12. In this contract, any reference to a party includes that party's heirs, executors, administrators, successors and assigns, singular includes plural and masculine includes feminine. Trustor/Trustee has executed this Agreement as of the day and year first above written. __________________________ Name of Trustor/Trustee __________________________ Signature Trustor/Trustee ( Acknowledgments before Notary Public) (Attach Exhibit)