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REVOCABLE LIVING TRUST
Known As: ________________________________________________
Agreement made and executed this ______day of _______________, 20____, by and
between _________________________________, hereinafter referred to as the
Settlor, and _________________________________, hereinafter referred to as the
The Settlor reserves and shall have the exclusive right any time and from time to time during his/her lifetime by instrument in writing signed by the Settlor and delivered to the Trustee to modify or alter this Agreement, in whole or in part, without the consent of the Trustee or any beneficiary provided that the duties, powers and liabilities of the Trustee shall not be changed without his/her consent; and the Settlor reserves and shall have the right during his/her lifetime, by instrument in writing, signed by the Settlor and delivered to the Trustee, to cancel and annul this Agreement without the consent of the Trustee or any beneficiary hereof. Settlor expressly reserves the right to appoint successor trustees, replace present trustees and change the beneficiaries or the rights to property due any beneficiary.
In addition to any powers granted under applicable law or otherwise, and not in limitation of such powers, but subject to any rights and powers which may be reserved expressly by the Settlor in this Agreement, the Trustee is authorized to exercise the following powers to the Trustee's sole and absolute discretion.
Upon death of the Settlor, or the last surviving Settlor if more than one,
the remaining Trust assets shall be distributed to the beneficiaries in the
proportionate or allocable amounts as are specified in the schedule of
beneficiaries, hereto annexed as Schedule B, as may then be in force.
If it shall be determined that any provisions of the Trust created herein violates any rule against perpetuities or remoteness of vesting now or hereafter in effect in a governing jurisdiction, that portion of the Trust herein created shall be administered as herein provided until the termination of the maximum period allowed by law at which time and forthwith such part of the Trust shall be distributed in fee simple to the beneficiaries then entitled to receive income therefrom, and for the purpose, it shall be presumed that any beneficiary entitled to receive support or education from the income or principal or any particular fund is entitled to receive the income therefrom.
Except as otherwise provided herein, all payments of principal and income payable, or to become payable, to the beneficiary of any trust created hereunder shall not be subject to anticipation, assignment, pledge, sale or transfer in any manner, nor shall any said beneficiary have the power to anticipate or encumber such interest, nor shall such interest, while in possession of the Trustee, be liable for, or subject to, the debts, contracts, obligations, liabilities or torts of any beneficiary.
This Trust Agreement shall be construed, regulated and governed by and in
accordance with the laws of the State of ________________.
The foregoing instrument, consisting of ________ pages, including
this page, was signed in our presence by
_______________________________________ [name of Settlor]. We, at the request and in the presence of the Settlor and in the presence of each other, have subscribed our names below as
witnesses. We declare that we are of sound mind and of the proper age to
witness a revocable trust, that to the best of our knowledge the Settlor is of the age of
majority, or is otherwise legally competent to make a revocable trust, and appears of
sound mind and under no undue influence or constraint. Under penalty of
perjury, we declare these statements are true and correct on this ________ day
of ____________________, 20______ at
STATE OF ___________________
[Insert description of the property to be placed in the revocable trust.]
[Insert a listing of the beneficiaries and for each note the proportionate or allocable amounts each is to receive.]
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