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ContractTemplateforTrust
PartyA:[NameofTrustee]
PartyB:[NameofTrustee]
ThisContractforTrust(the"Contract")ismadeandenteredintoasof[Date],byandbetweenPartyAandPartyB(eacha"Party"andcollectivelythe"Parties").
Recitals:
WHEREAS,PartyAdesirestocreateatrust(the"Trust")forthebenefitof[Beneficiary];
WHEREAS,PartyBiswillingtoserveasthetrusteeoftheTrust;
NOW,THEREFORE,inconsiderationofthemutualpromisescontainedhereinandforothergoodandvaluableconsideration,thereceiptandsufficiencyofwhichareherebyacknowledged,thePartiesagreeasfollows:
Article1:TrustCreationandPurpose
1.1CreationofTrust.PartyAherebycreatestheTrustwiththeassetsdescribedinExhibitA(the"TrustProperty")forthebenefitoftheBeneficiary.
1.2PurposeofTrust.TheTrustshallbeusedtoprovidefortheBeneficiary's[specificpurposes,e.g.,education,health,maintenance,andsupport]asdescribedinthisContract.
Article2:Trustee
2.1AppointmentofTrustee.PartyAappointsPartyBasthetrusteeoftheTrust.
2.2Trustee'sDutiesandResponsibilities.ThetrusteeshallmanagetheTrustPropertyinaccordancewiththetermsandconditionsofthisContractandshallmakedistributionstotheBeneficiaryasprovidedherein.
2.3Trustee'sPowers.ThetrusteeshallhavethepowertoinvesttheTrustProperty,makedecisionsregardingtheTrustProperty,andtakeanyotheractionsnecessarytocarryoutthepurposesoftheTrust.
Article3:Beneficiary
3.1IdentificationofBeneficiary.TheBeneficiaryisidentifiedas[NameofBeneficiary].
3.2RightsofBeneficiary.TheBeneficiaryshallhavetherighttoreceivedistributionsfromtheTrustPropertyasprovidedinthisContract.
Article4:TrustPropertyandInvestments
4.1TrustProperty.TheTrustPropertyshallincludeallassetscontributedbyPartyAtotheTrust,asdescribedinExhibitA.
4.2Investments.ThetrusteeshallhavetheauthoritytoinvesttheTrustPropertyinanymannerconsistentwiththisContract.
Article5:Distributions
5.1DistributionRequirements.ThetrusteeshallmakedistributionstotheBeneficiaryinaccordancewiththetermsandconditionsofthisContract.
5.2DistributionAmounts.ThetrusteeshalldistributetotheBeneficiary[specificamountsorpercentages]oftheTrustProperty,asprovidedinthisContract.
Article6:TerminationofTrust
6.1TerminationEvents.TheTrustshallterminateupon[specificevents,e.g.,theBeneficiary'sreachingacertainageortheoccurrenceofaspecificevent].
6.2DistributionofRemainingTrustProperty.UponterminationoftheTrust,thetrusteeshalldistributetheremainingTrustPropertytotheBeneficiary.
Article7:GoverningLawandJurisdiction
7.1GoverningLaw.ThisContractshallbegovernedbyandconstruedinaccordancewiththelawsof[jurisdiction].
7.2Jurisdiction.AnydisputesarisingoutoforinconnectionwiththisContractshallbesubjecttothejurisdictionofthecourtsof[jurisdiction].
Article8:Miscellaneous
8.1EntireAgreement.ThisContractconstitutestheentireagreementbetweenthePartiesandsupersedesallprioragreementsandunderstandings,bothwrittenandoral,betweenthePartieswithrespecttothesubjectmatterhereof.
8.2Amendments.ThisContractmaybeamendedormodifiedonlybyawritteninstrumentexecutedbyallParties.
8.3Notices.Allnoticesandothercommunicationshereundershallbeinwritingandshallbegivenby[methodofdelivery,e.g.,hand
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