Get Form: Operating Trust Agreement For Jointly Owned Property ...

This guide will help you complete the Form: Operating Trust Agreement for Jointly Owned Property after Divorce online. By following each step carefully, you can easily fill out the form to meet your needs.

Follow the steps to fill out the form effectively.

1. Click the ‘Get Form’ button to obtain the form and open it in the editor.
2. In Section 1, provide details about the properties owned by the trustee and beneficiary. Refer to Schedule 1 of the agreement for specifics on the properties you wish to include.
3. In Section 2, ensure the beneficiary consents to the trustee serving on their behalf. This clarifies the trust relationship and outlines the responsibilities of the trustee.
4. Move to Section 3, where you will indicate the trustee's discretion to sell any property listed in Schedule 1. Detail the procedure for notifying the beneficiary about any decisions made regarding cash contributions or property sales.
5. In Section 4, confirm the necessity of maintaining a separate operating account for managing funds related to the properties. Ensure you outline any expenses and the process of depositing funds.
6. Complete Section 5 by detailing the powers granted to the trustee for managing the properties. This includes decision-making for expenses and hiring necessary personnel.
7. Finally, review all sections for accuracy, and ensure that both the trustee and beneficiary sign the document. Don't forget to have your signatures notarized as required.
8. Once completed, you can save your changes, download the form, print it, or share it as necessary.

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