Trust Document Sample With No Experience
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How to fill out Trust Agreement - Family Special Needs?
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FAQ
For example, a trust provision may stipulate that upon the death of the grantor, if all her children are over the age of 30, the trust assets are to be distributed equally amongst them, while if some are under the age of 30, then the trust does not terminate until the youngest reaches that age.
A simple example would be the situation in which one member of a family advances money to another and asks the second member to hold the money or to invest it for him. A more complicated example of an implied trust would be the situation in which one party provides money to another for the purchase of property.
Most trusts are named after the Trust Creators and also include the date the trust was created. Examples are ?John and Jane Smith Revocable Trust dated 1/1/20?; or ?Smith Family Trust dated 1/1/20?; or ?John W. Smith and Jane A. Smith Revocable Family Trust dated 1/1/20?.
In general, a trust is a relationship in which one person holds title to property, subject to an obligation to keep or use the property for the benefit of another. A trust is formed under state law.
The instrument may also be known as an agreement, indenture, declaration, or deed. In the case of a testamentary trust, for example, the trust instrument is the decedent's will.