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Revocable Living Trust Agreement for an Individual

Document Cited in Related
Vincent
Updated atMarch 2010

This Irrevocable Trust Agreement is made this _________ day of __________, _______________,

Between

______________ s/o ________________ r/o __________________________, herein referred to as Grantor,

AND

______________ s/o ________________ r/o __________________________ and __________________ s/o _______________ r/o __________________________, herein jointly referred to as Trustees.

WHEREAS, Grantor is now the owner of the property described in Exhibit A attached hereto and made a part hereof,

AND WHEREAS, Grantor desires to make provision for the care and management of such property, and the collection of the income there from, and the disposition of both such income and such property in the manner herein provided:

Now, therefore, for the reasons set forth above, and in consideration of the mutual covenants set forth herein, Grantor and Trustees agree as follows:

  1. That the Grantor, in consideration of the acceptance by trustee of the trust herein created, hereby convey, transfer, assign, and delivers to Trustees their successors in trust and assigns, the property described in Exhibit A attached hereto and made a part hereof, by this reference, which property, together with all other property that may from time to time be held by Trustees hereunder, is herein referred to as "Trust Estate".

  2. That the Grantor, and any other persons shall have the right at any time to add property acceptable to Trustees to this trust and such property, when received and accepted by Trustees, shall become part of the Trust Estate.

  3. That the Trustees shall care for and manage the trust estate and collect the income derived there from, and, after the payment of all taxes and assessments thereon and all charges incident to the management thereof, dispose of the net income there from and corpus thereof, as follows

  4. During the lifetime of Grantor the Trustees may pay income of the trust estate and such portions of the principal as the Grantor from time to time may direct to the Grantor, or otherwise as he/she directs during his/her life. After the death of the Grantor the successor trustee shall distribute the trust estate to the following beneficiary or beneficiaries who shall survive me:

    1. ____________ (Name & address)

    2. ____________ (Name & address)

    3. ____________ (Name & address)

  5. The share of any beneficiary who shall be under the age of (____________) years shall not be paid to such beneficiary but shall instead be held in trust to apply to his/her use...

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