Professional Documents
Culture Documents
Trust Agreement: Back To Table of Contents
Trust Agreement: Back To Table of Contents
WITNESSETH:
WHEREAS, I wish to create a trust of certain property for the benefit of myself
and others, such property being described in Schedule A attached hereto and
having been delivered this date to the Trustee; and,
WHEREAS, the Trustee agrees to perform such trust in accordance with the
terms and conditions and within the powers and limitations hereinafter set
forth in this instrument;
NOW, THEREFORE, the Trustee agrees to hold such property and any other
property acceptable to the Trustee that I or any other person or persons may
add to the Trust by will or otherwise, all of which is hereinafter referred to as
the "trust property," and to manage, invest and reinvest the same in trust for
the following uses and purposes:
Back to Table of Contents
ARTICLE I: DECLARATIONS
A. Name of Trust. This Trust shall be designated as the "Thomas V. Sample
Living Trust."
B. Marital Status - Children. I declare that my wife, Linda R. Sample, is
deceased and that I am a widower as of the date of this instrument. I further
declare that I have two (2) children, namely: Robert A. Sample of _____________,
_____________, and Karen C. Sample of _____________, _____________.
Back to Table of Contents
ARTICLE II: DISPOSITION OF TRUST PROPERTY DURING MY LIFETIME
A. General Provisions. If any property is transferred to the trust during my
lifetime, then I shall receive, hold and manage the same; shall invest and
reinvest such property, other than life insurance policies; shall collect the
income, if any, and the proceeds thereof; and shall distribute to myself or
others so much of the net income and principal thereof as I, in my sole
discretion, shall decide from time to time, provided I am not incapacitated
within the meaning set forth in paragraph B of this Article II. If I become
incapacitated while serving as Trustee, then I shall immediately terminate as
Trustee. Thereafter, the successor Trustees designated in accordance with the
provisions of Article IX of this instrument shall pay to or apply for the benefit of
any one or more members of a group consisting of myself, my children, and the
descendants of my children so much of the net income and principal of the
trust, even to the extent of exhausting principal, as the successor Trustees may
consider advisable for their health, maintenance and support. The Trustee
shall be exonerated from any liability in connection with the making of such
discretionary payments. The Trustee shall consult with me insofar as
practicable regarding the purchase, sale, exchange or other disposition of
investments constituting a part of the trust property. Any net income not so
expended may be accumulated and added to principal from time to time.
B. Definition of "Incapacitated". For purposes of this instrument, the term
"incapacitated" shall mean the inability to make informed decisions in the
ordinary course of business because of advanced age, illness, or other causes.
The decision as to whether I am incapacitated, for purposes of this instrument,
shall be made by a majority of my wife and my children who are then of legal
age, with the concurring opinion of at least one physician who has examined
me during the two-month period immediately preceding the date on which the
determination is being made.
Back to Table of Contents
IN WITNESS WHEREOF, the parties hereto have signed this Trust Agreement on
the ____________ day of ____________________, 2012.
Back to Table of Contents