- 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 Nevada, hereinafter referred to as the Trustor, whether one or more, 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 Trustors or Settlors of this trust are _______________________ and _______________________, Husband and Wife, residing at ___________________________________, ___________________________________, Nevada ________. As used herein, the term “Trustor” shall mean all trustors of this trust, whether one or more. The Trustors are married and parents of the following living children: ______________________________________________ The Beneficiaries of the Trust during the lifetime of the Trustors is the Trustors. Except as otherwise provided herein, upon the death of the Trustor, the Beneficiaries are the Children of the Trustor. This document is a living trust as authorized by the provisions of NRS 163.002. 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
, this state. Article iii term of trust 4. Transition provisions 5. Termination 6. Amendment of provisions 7. Assignment of provisions 8. Exemptions and exceptions 9. Payment of moneys 10. Liabilities of trust or (a) the trustor, as trustee, has full power to execute the present document including the provisions described herein and may not revoke the present document except upon: (1) an order of the court in which the trust was created or of a court of competent jurisdiction, or an order of a court of the state of Nevada or a court of a territory that has jurisdiction over the trust; or a judicial order, entered a separate action and under seal, or an order of any judicial or administrative agency of this state or of a territory, that relates to a trust created under the laws of, or that relates to any land or property located in this state; and (2) the execution of a waiver under NRS chapter 119 which is executed by at least two of the trustees. (3) a determination of noncompliance with the provisions of this trust, including, without limitation, the irreconcilability of any material provision of this trust with the laws of this state and with the laws or constitutional or statutory provisions of any state in which the present trust was created; or (4) the appointment of a receiver, conservator or trustee. (b) nothing in this section affects, affects, or shall be construed to affect any trust that is governed by the laws of this state and any trust in which one of the trustees in this trust may be appointed to serve as trustee with the power to execute all or the required assets of the trust pursuant to the laws in such state. (c) upon the death of any beneficiary of the present trust, that beneficiary's personal representatives may elect to take the property and income of that beneficiary and distribute such property and income to the beneficiaries or heirs, as applicable. (d) the trustee may revoke a present trust at any time upon order of: (1) a court of competent jurisdiction when such revocation is for just cause; or (2) any court of this state if one of the trustees, by order of the court, has determined that such revocation is for now just cause. In the case of an order filed pursuant to paragraph (1) of this subsection (d), a copy of the order shall be mailed to the trust or, who shall promptly file the same at the office of the court in which.
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