State of illinois hereinafter referred to as the trustor and the trustee designated form
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- 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 Illinois, 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 ___________________________________, ___________________________________, Illinois ________. 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 is/are _______________________. The Trustor has no children. 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 Trus
Ss. Or, may exercise all the rights of a trustee, including, without limitation, the right to make distributions from the trust, to perform a revocable living trust agreement under this article, to execute and deliver the trust documents, and to do any or all of the foregoing. 4. Trustee duties 5. The duty, to pay to the trust the trust income and expenses, including the expenses and the cost of executing the trust documents, to pay any debts or liabilities of the trust or the fiduciary, as to which payments are owed to the trust, and, to do all things in the trust's power in and for the benefit of the trust to the extent necessary to carry out the obligations of the trust under this trust, including, without limitation, to perform the above actions. 6. Duties of the trust or a trustee of this trust 7. Duties of the trustor to the trustor, if any, or the trust or's successors: the fiduciary has no duty to the trust or or the trustor's successors, except to the extent that the fiduciary must comply with the limitations on distributions contained in this article. The fiduciary can obtain any other documents necessary to carry out the terms and provisions in this trust. 8. Rights of the trust or and the trustee in the event that a trust instrument is invalid, unlawful or unenforceable: after a legal objection to or other adverse decision against a trust instrument by a court of competent jurisdiction, the fiduciary is in and has full and complete authority to enforce the contents of the trust instrument in any court of competent jurisdiction in any judicial or administrative action resulting from such legal objection or other adverse decision. When a trust instrument is invalid, it terminates. 9. When, if at any time, the fiduciary has made distributions in the possession or under the control of the fiduciary : such distributions shall be made in accordance with this article, as from the time at which they were made, in accordance with any revocable living trust agreement or other provision made by the trust or. In case of a revocation of the trust instrument, the fiduciary may pay distributions to any person or persons that may be entitled to benefit from the trust property pursuant to this article ; such distributions include, without limitation, distributions made pursuant to this article or a revocable living trust agreement, an irrevocable life annuity, or any other type of asset security interest.
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