Trust Agreements

Trust Agreements

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This trust agreement is between XYZ, who shall be referred to as the Grantor for the purpose of this document and ABC who shall be referred to as the trustee and is dated dd/mm/yyyy
1.    Purpose of the Trust Agreement
This trust agreement is created to define the manner in which the wealth and assets of XYZ shall be disbursed in the event of his death. It shall supersede any other will and testament or trust agreements pre-existing with any person or persons.
2.    Details of the Estate
As is customary with trust agreements, a comprehensive report of the details of the estate that will be transferred has to be provided. The grantor’s property that will be conveyed upon his death is contained in exhibit A of the annexure.
3.    Actions to be performed in the event of the Grantor’s death
This trust agreement provides for the following actions to be undertaken in the event of the death of the grantor. These actions shall be carried out only in the event of death and shall not apply in any other circumstances including incapacitation, serious injury or other condition being faced by the grantor.
3.1.    Transfer of Property into a Trust
According to trust agreements, the property, wealth and assets detailed in exhibit A shall be transferred into a Trust created specifically for this purpose. The trust shall be named the XYZ Trust.
3.2.    Management of the Trust
The trustee defined in the opening section of this trust agreement shall manage the Trust. The trustee shall perform the following actions on behalf of the trust:
3.2.1.    Oversee the sale of the property and assets as per the instructions outlined in exhibit B of the annexure of the trust agreement.
3.2.2.    Execute the distribution of the proceeds of the sale to the beneficiaries as outlined in Exhibit C of the annexure of the trust agreement.
4.    Rights and Powers of the Trustee
As with trust agreements, the trustee shall have all the rights assigned to him by the prevailing law of the land to manage the trust and carry out the instructions outlined in Exhibit B and C of this trust agreement. In addition he shall enjoy the following powers:
4.1.    Engage Supporting Professionals
As is customary with trust agreements, the trustee may find the need to engage the help of professionals like lawyers, agents, brokers or other individuals. This agreement validates his right to enlist the support of whomsoever he deems fit.
4.2.    Reimbursement of Expenses
The trustee shall enjoy the right of getting reimbursed for all expenses incurred by him during the course of executing the instructions in this trust agreement. He may claim this amount from the trust directly after showing appropriate documentation to its auditors.
4.3.    To Act in Good Faith
According to trust agreements, the trustee shall act in good faith while executing the actions outlined in this document. He shall be afforded due respect and control in this endeavor by other parties to the agreement.
5.    General Conditions
All trust agreements require that the following general conditions be stipulated within the document:
5.1.    Compensation to the Trustee
The trustee shall be compensated for his efforts in administrating the trust and executing its instructions. The compensation details are contained in Exhibit D of the annexure to this document
5.2.    Trust is Governed by Law of the Land
The prevailing law of the land governs trust agreements and no instruction outlined in this agreement shall be carried out if it does not comply with the laws of state and country. The trustee may ignore such instructions if they emerge to be against such laws.
5.3.    Restriction against squandering activity
According to trust agreements, the trustee is usually selected to ensure that the affairs of the trust are judiciously carried out without any irresponsible activity leading to substantial depletion of the resources in the trust. The trustee must carry out his responsibilities with due diligence and refrain from undertaking any activity that is risky in nature.
As grantor and trustee respectively to this trust agreement, we hereby understand and accept all the conditions outlined in this document and its annexure.
____________
Grantor
____________
Trustee

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