On this page, you’ll find a downloadable Trust Agreement Word Document, which can be adapted and edited to suit your specific needs.
This is ideal whether you’re searching for trust agreement examples, comparing trust agreement vs family trust, or needing to understand more about trust agreement definitions and operations.
Our document even enlightens you on the tax benefits of a trust agreement versus managing assets through an LLC or personal trust. Similarly, if you need guidance on how a trust agreement operates for a bank account, our template can be instrumental .
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TRUST AGREEMENTThis Trust Agreement is made and entered into this__day of__, 20__, by and between [Name of the Settlor], hereinafter known as the Settlor, and [Name of the Trustee], hereinafter known as the Trustee.
ARTICLE I: DECLARATION OF TRUSTThe Settlor, desiring to create a trust of the property described in Exhibit A attached hereto, does hereby assign, transfer, and convey said property to Trustee, and Trustee hereby accepts such property and agrees to hold and distribute the same IN TRUST, NEVERTHELESS, upon the terms and conditions hereinafter set forth.
ARTICLE II: TRUST PROPERTYThe Trustee acknowledges receipt of the property listed in Exhibit A and accepts the responsibility of Trustee. The property in Exhibit A and any additional property received by the Trustee from the Settlor or from any other source shall be known as the Trust Property.
ARTICLE III: BENEFICIARIESThe Trustee shall hold, manage, invest, and reinvest the Trust Property and shall collect the income therefrom and shall distribute such income and principal as provided in this Agreement for the benefit of the following beneficiaries: [Name(s) of Beneficiary(s)].
ARTICLE IV: DISTRIBUTIONSThe Trustee shall distribute to the Beneficiaries such portions of the net income and principal of the Trust Property as the Trustee, in the Trustee’s sole discretion, deems fair and reasonable, considering the needs, circumstances, and best interests of the Beneficiaries.
ARTICLE V: POWERS OF THE TRUSTEEThe Trustee shall have the power to sell, lease, or otherwise dispose of any Trust Property, to invest and reinvest the Trust Property, to vote any shares of stock, to employ agents and counsel, and to do all things necessary to carry out the purposes of this Trust, all without court approval.
ARTICLE VI: SUCCESSOR TRUSTEEIn the event of the death, resignation, or incapacity of the Trustee, [Name of Successor Trustee] shall succeed to all the rights, powers, and duties of the Trustee. The Successor Trustee shall not be required to post any bond or surety.
ARTICLE VII: REVOCATION OR AMENDMENTThis Trust Agreement is revocable at the discretion of the Settlor. The Settlor reserves the right to amend, modify, or revoke this Agreement in whole or in part at any time by written instrument delivered to the Trustee.
ARTICLE VIII: GOVERNING LAWThis Trust Agreement and the interpretation of its terms shall be governed by and construed in accordance with the laws of the state of [State] and applicable federal law. EXECUTED this __ day of ____, 20__. _______________________________ [Settlor] _______________________________ [Trustee] STATE OF ______________ County of _____________ On this __ day of ____, 20__, before me, a Notary Public, personally appeared [Settlor] and [Trustee], known to me to be the persons whose names are subscribed to the foregoing instrument and acknowledged that they executed the same for the purposes therein contained. _______________________________ Notary Public My Commission Expires:______
Other Useful ContractsIf one is interested in formulating a Trust Agreement, it is also likely they’d find great value in other related legal documents such as the Last Will and Testament. This document dictates how an individual’s estate will be distributed upon their passing, providing a clear allocation of assets to beneficiaries. Whether one has significant wealth or minimal assets, having this document in place offers peace of mind and ensures wishes are respected.
Similarly, the Revocable Living Trust is another significant legal wisdom worth exploring. This document offers flexible control over your assets while alive, and seamless transition to your chosen beneficiaries after death, without the need for probate – a lengthy and often costly court process.
For some, the Power of Attorney can be a worthy document to consider. It allows individuals to appoint someone they trust to make decisions on their behalf should they become unable to do so. This legal instrument can cover both financial matters and health decisions, ensuring that one’s preferences are upheld even in incapacitation.
Lastly, as we plan for the future, we may want to include specific post-life instructions regarding funeral arrangements and final wishes. The Final Arrangements Document offers a platform to lay out these details for loved ones, reducing confusion and stress during an already difficult time. This document can range from burial preferences to directives on the division of personal belongings.