Trusts Document Template

TRUSTS DOCUMENT TEMPLATE

RECITALS

WHEREAS, Settlor Name: (the "Settlor") desires to establish a trust to hold, manage and distribute certain assets under the terms set forth herein for the benefit of beneficiaries;

WHEREAS, Trust Name: is to be effective as of Effective Date: and shall be administered by Trustee Name: (the "Trustee");

WHEREAS, the Settlor and the Trustee desire to set forth their agreement regarding the scope, administration, compensation and governance of the trust and the fiduciary responsibilities of the Trustee.

SCOPE OF SERVICES

TRUST ASSETS

FIDUCIARY DUTIES

The Trustee accepts the duties of a fiduciary and agrees to administer the trust in good faith, with the care, skill, prudence and diligence under the circumstances then prevailing that a prudent person acting in a like capacity would use. The Trustee shall act in the best interests of the beneficiaries, avoid conflicts of interest, act impartially among beneficiaries, and comply with all material terms of this agreement and applicable law.

The Trustee is authorized to retain agents, advisors and counsel as reasonably required to perform duties, provided that the Trustee shall exercise reasonable care in selecting such agents and shall remain responsible for oversight of their services.

PAYMENT TERMS

All fees payable to the Trustee shall be charged against trust principal or income as appropriate under the terms of the trust. The Trustee may require reasonable documentation supporting distributions or reimbursements and may charge reasonable administrative fees for extraordinary services not contemplated in the standard fee.

TERM AND TERMINATION

This Agreement shall commence on Commencement Date: and shall continue until Termination Date: , unless earlier terminated in accordance with this section.

Either party may terminate this Agreement for convenience upon written notice delivered to the other party not less than Notice Period (days): prior to the effective date of termination. The Trustee may resign upon giving the notice required by applicable law and taking reasonable steps to facilitate appointment of a successor trustee.

Termination for cause may occur immediately upon written notice if the other party materially breaches this Agreement and fails to cure such breach within thirty (30) days after receipt of written notice specifying the breach.

CONFIDENTIALITY

The Trustee and Settlor (each a "Party" and collectively the "Parties") acknowledge that certain information relating to the trust, its assets, beneficiaries and administration is confidential. Each Party shall hold confidential and shall not disclose such information except (a) to beneficiaries as required by law, (b) to agents or advisors employed to perform services under this Agreement, provided such recipients are bound to confidentiality obligations no less stringent than those herein, (c) as compelled by court order or applicable law, or (d) with the prior written consent of the Settlor or, where appropriate, the beneficiaries.

Confidential information does not include information that (i) is or becomes generally known to the public other than through a breach of this Agreement, (ii) was lawfully in the receiving Party's possession prior to disclosure, or (iii) is lawfully received from a third party without restriction on disclosure.

RECORDS, ACCOUNTING AND AUDIT

The Trustee shall maintain complete and accurate records of trust administration, including accounts, receipts, disbursements and tax filings. The Trustee shall furnish periodic accountings to beneficiaries or as otherwise required by law. Beneficiaries shall have the right to inspect trust records upon reasonable notice and during normal business hours.

INDEMNIFICATION

To the fullest extent permitted by law, the trust shall indemnify and hold harmless the Trustee and its agents from and against all losses, liabilities, costs and expenses (including reasonable attorneys' fees) incurred in connection with the administration of the trust, except for losses resulting from the Trustee's gross negligence, willful misconduct or breach of fiduciary duty.

AMENDMENTS AND SUCCESSOR TRUSTEES

This agreement may be amended only by a written instrument signed by the Settlor and the Trustee, except where the trust instrument provides alternative amendment procedures. The Trustee shall have the power to appoint a successor trustee in accordance with the trust instrument and applicable law.

GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of Governing State: without regard to its conflict of law principles.

ENTIRE AGREEMENT

This Agreement, together with the trust instrument and any written amendments executed in accordance with this Agreement, constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, understandings and negotiations, whether written or oral.

MISCELLANEOUS

If any provision of this Agreement is held invalid or unenforceable, the remainder of this Agreement shall continue in full force and effect. Nothing in this Agreement is intended to confer any right or remedy on any person other than the Parties and their permitted successors and assigns. Notices required under this Agreement shall be in writing and delivered to the addresses provided by the Parties.

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