Sample Revocable Trust Form With Multiple Beneficiaries

• Category: Trusts - Education
• State: Multi-State
• Control #: US-0131BG
• Format: Word; Rich Text

Description

The Sample Revocable Trust Form with Multiple Beneficiaries is designed to create a trust agreement that benefits one or more designated beneficiaries, enabling the management and distribution of assets for their health, education, and support. This form is irrevocable upon execution, meaning the grantor waives their right to amend or terminate the trust. It allows initial funding with specified amounts, and the trustee has discretion over distributions until the beneficiary reaches a predetermined age. Key features include provisions for funding the trust, making distributions for education-related expenses, and the possibility for the beneficiary to extend the trust if necessary. The form stipulates powers and limitations for the trustee, ensuring responsible asset management while offering protections against creditors. It also outlines the process for terminating the trust and the handling of remaining assets upon the beneficiary's death. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it provides a structured approach for establishing a trust that accommodates multiple beneficiaries, offering clear directives and safeguarding assets while enhancing their legal toolkit.