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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 Maryland, 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 and is created in accordance to Maryland Code § 14-404 EST. & TRUSTS. ARTICLE II IDENTIFICATION 2. TRUSTOR AND BENEFICIARIES: The Trustors or Settlors of this trust are _______________________ and _______________________, Husband and Wife, residing at ___________________________________, ___________________________________, Maryland ________. 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. ARTICLE III TRUSTEE APPOINTMENT 3. TRUSTEE APPOINTMENTS: The
Of the trust and trustee is appointed by the administrator, guardian or conservator. Article iv beneficiary 3. (a) there are not to be more than or, there is not to be more than , beneficiaries. In the absence of a will, however, there is not to be an interest in any moneys which are the subject of this will or in any other real or personal property. Beneficiaries of this trust shall not be permitted to participate of the assets, property, or income of this trust. Beneficiaries are the persons and their legal representatives to receive and dispose of moneys from this trust, to have and spend personal property and property of their choice. Any individual, corporation, , partnership or other association the income of which is derived solely from the property owned, held , or used by it for the benefit of the persons and other persons who are beneficiaries of the trust and for whom there is no beneficiary of this trust. Beneficiaries are to receive all moneys received from this trust. Beneficiaries are also recipients of distributions of income, capital gains, and dividends. (b) an interest in capital appreciation property is not to be included as a beneficiary. The trustee shall act as trustee with respect to this trust. Article v. Notice 3. Before the appointment of a trustee of this trust, the administrator, guardian or conservator shall give notice for good cause to all the beneficiaries of the trust who do not have or reside at home in the household of the administrator, guardian or conservator. Article vi. Term 4. The term of this trust shall be 2 years from the date of the creation of this trust. Article vii. Trusteeship 4. The administrator, guardian or conservator shall designate in writing to this trust and to the appropriate beneficiary appointed under the terms of this trust that the administrator, guardian or conservator is appointed as trustee with this and with that designation. Article viii. Trustee duties 4. The responsibility of the trustee is to exercise care, discretion and good faith in carrying out the object, purposes and purposes for which the trust was created, as set forth in this trust and such other provisions of this trust as are written. Article ix. Termination 4. This trust may be terminated in favor of the beneficiaries, or its assets may be distributed or disposed of in accordance with this trust. Article x. Powers of trustee and fiduciary 4. Upon the appointment of the trustee herein as trustee, the administrator or conservator.