1. ASSETS OF THE TRUST. A settlor who wishes to establish trusts for the benefit of his or her adult children and for any other valuable consideration is irrevocably transferred to the trustees of the property described in Schedule A (the “Trust Assets”) in trust, for the purposes and under the conditions set out below. At the age of 30, the remaining 50% is allocated to the beneficiary and is completely untrustworthy. However, the beneficiary may have the opportunity to defer the distribution of the share and continue the trust agreed herein. 7. ADDITIONAL PROPERTY. The settlor reserves the right to supplement the corpus of one or both trusts at any time by deed or will, and any additional property is held, managed and distributed under the trust(s). The additional assets are distributed among the trusts in accordance with the instructions specified in the transfer instrument. Any reference to the child, the children, shall be deemed to be a descendant of the first-degree grantor designated as the beneficiary, unless expressly disinherited otherwise in the will and in this Agreement. The child, children or descendants must include the adopted child.
12. IRREVOCABILITY. Trusts are irrevocable and the Settlor expressly waives all rights and powers, alone or in association with others, and regardless of when or from what source it acquired such rights or powers to modify, amend, revoke or terminate the trusts or any of the terms of this Agreement, in whole or in part. By this instrument, the settlor absolutely and forever waives all of his possession or enjoyment or any right to income from the assets of the trust and all of his right and power, alone or in collaboration with others, to determine the persons who own or are to enjoy the assets or income of the trust. The Trustee may exercise the administration of the trust created herein in its sole discretion, by . B dealing with the estate in relation to the purchase or sale of real estate. The trustee may also set up substantially similar trusts for the benefit of the beneficiaries. (k) borrow money for the purposes of the trusts or in addition to their administration on their obligation or promissory note as trustees and secure their repayment by hypothec, creation of a security or pledge or otherwise encumbering some or all of the assets of the trusts.
In the event that the trustee becomes unable to work, the trustee immediately terminates as trustee and the rights and duties are transferred to the next trustee. In the event that no trustee wins the case during the validity of this Agreement, this Agreement will be terminated and all assets of the Trust will be transferred to the beneficiaries, provided that the beneficiaries are of legal age to manage the trust`s assets. In the event of the settlor`s death, the trustee is responsible for ensuring payment of debts, expenses and taxes on the trust`s assets. The trustee pays the settlor`s funeral expenses, inheritance tax, bequests and equipment, as well as other legal fees and debts. 11. LOYALTY AND RESPONSIBILITY OF TRUSTEES. Neither of the two (2) appointed trustees is required to provide any guarantee or other guarantee. Trustees are not responsible for errors or errors of judgment in the management of trusts, with the exception of wilful misconduct, as long as they continue to exercise their duties and powers in trust primarily in the interest of the beneficiaries. The powers conferred on trustees may be exercised, in whole or in part, from time to time and are considered complementary and not exclusive to the general powers of trustees under the law and include all powers necessary for their implementation. 13. SITUS.
This trust has been executed and issued in the State __ (m) to do business with the trusts` property as sole proprietor or as a general partner or limited partner with all the powers normally exercised by such a person and to maintain an undivided interest in property as a roommate or tenant in partnership. CONSIDERING that the Settlor intends to establish a trust of certain real property transferred to the Trustee as described in Appendix A annexed to this Agreement for the benefit of a Beneficiary, any separate trust bearing the name of one of my children, if any, under any other provision of this Instrument, will be held by the Trustee for the following purposes: managed and distributed: 1. Discretionary distributions. With respect to each individual trust held for the benefit of one of my children under the age of thirty (30), the trustee shall not pay to that child or claim from that child until that child`s separate trust, as a substantial portion of that child`s net income and capital, even to the extent that capital is exhausted. because the syndic may, in his or her sole discretion, be deemed appropriate or necessary for the health, maintenance, support and upbringing of that child, taking into account in each case all the circumstances and factors he or she considers relevant. Any net proceeds not issued under this Agreement will be accumulated and added to the capital as determined by the Trustee from time to time. 2. Mandatory Distributions. When one of my children reaches the age of twenty-five (25), the trustee distributes fifty percent (50%) of the remaining balance of that child`s separate trust directly and without trust to that child; and when one of my children reaches the age of thirty (30), that child`s separate trust and the trustee shall distribute to that child one hundred percent (100%) of the remaining balance of that child`s separate trust ends, directly and freely by trust; provided, however, that each of my children has the right to defer all distributions and to sue them in trust under this Agreement. 3. Limited power of appointment. If one of my children dies before the age of thirty (30), the separate trust held for that child under this section V terminates and the trustee distributes the balance of the trust as it is then composed to or for the benefit of one or more of the child`s descendants.
in proportions and amounts that the child may determine in order to receive the same thing under a will. In the case of the sale of the remaining balance of the separate trust of a deceased child in accordance with this Section V, the trustee is protected by relying on a document admitted to the estate in a jurisdiction as the last will of that child, or by believing that the child died without a will, if notification of the existence of a final will and a will is not received within three (3) months of its receipt by The syndic receives a notice of death from this child. .