Trust Joint Form With Decimals

• Category: Trusts - Irrevocable
• State: Multi-State
• Control #: US-02584BG
• Format: Word; Rich Text

Description

The Trust Joint Form with Decimals is a comprehensive legal document designed for establishing an irrevocable trust between joint trustors for the benefit of their children, incorporating spendthrift provisions. It outlines essential features such as the transfer of property into the trust, management of trust assets, payment of expenses, distribution of income to trustors during their lifetime, and provisions for the trust's termination upon the death of the last surviving trustor. This form allows for additional property to be added to the trust and provides detailed instructions for trustees regarding their powers and responsibilities, including managing investments and handling taxes. Key features also include mechanisms for distributions to beneficiaries, provisions for minor or incompetent beneficiaries, and guidelines for the resignation and appointment of successor trustees. The target audience, including attorneys, partners, owners, associates, paralegals, and legal assistants, will find this form particularly useful for estate planning and ensuring that trust assets are protected from creditors while providing a structured approach to wealth management and distribution for future generations.