fill out the fields below to get started with your lawful (common law) trust.
name of trust
you can choose almost any name. however, it is not recommended that you use your entire family name. examples of what you might use would be a nickname, any group of initials, an acronym, anyone's first name, some descriptive word, a play on words, or any proper name such as a street, town, city, county, or it could even be just a symbol. it need not contain the word “trust.”
board of trustees
the first trustee must be somebody that is not directly related to you by blood or marriage and is not under your direct care, custody or control, in your direct employment or indebted to you. Examples of who could choose would be a distant relative, a close trusted friend, a business associate (someone not working directly for you) or your attorney, a bank officer or insurance agent you trust etc. the balance of the trustees can be people more closely related to you; for example, your father or mother, uncle or aunt, an adult brother, sister, son, daughter, nephew or niece. However, all trustees should remain as independent from you as possible.
successor trustee
in the event of the incompetency, incapacity or death of any trustee, whom do you want to replace that trustee?
protector
the protector has the authority to terminate any trustee at any time for cause; and to resolve disagreements among the trustees, when needed. a protector is not necessary, but it is an additional assurance regarding the proper operation of the board of trustees.
beneficiaries
the people and legal entities entitled to the assets and properties of the Trust at termination. there are 100 capital units. Each unit represents 1/100 of the value of the trust corpus. Beneficiaries are your heirs, per issue or per stirpes. per issue means only bloodline heirs, your biological sons and daughters, will receive a distribution. Per stirpes means that all your heirs, bloodline, adopted, or foster will share and share alike in the distribution of the trust corpus. Any legal entity can also be a beneficiary.
successor beneficiary
in the event that all beneficiaries predecease the termination of the trust, the successor beneficiary will receive the trust corpus upon its termination.
power of attorney
In the event that you become incapacitated or incompetent prior to your death and are not able to make informed decisions regarding your day-to-day activities or healthcare who would you most like to have make those decisions for you? Usually your spouse will serve as your Attorney-in-fact. Please also name an alternative for the event that your spouse is unable to make the decisions for you due to the disability or death from a common accident or illness, etc.
pour-over will
a pour-over will is a last will and testament that stipulates that anything that you own that is not in the trust at the time of your demise should have been in the trust as it was your intent to put those assets or properties in the trust. the trust becomes, in effect, your soul heir. please note that any items to be placed in the trust through the pour-over will are subject to probate. pour-over wills are not required but they are helpful in determining the intent of the trust creator. Please name your executor, executrix or personal representative of your will.
note: if you have minor children please fill this section out.
guardianship nominees
name the adult(s) that you want to have guardianship over any minor child or children that you have in the event that both spouses simultaneously become incapacitated, incompetent or die. please also name an alternative in the event that the man or woman named is unable or willing to perform said guardianship when called upon. please indicate whether they are to have physical or financial custody or both by checking the appropriate boxes:
right to die statement
known as an advanced medical directive, sets forth your five wishes in the event that you become totally incapacitated, incompetent or comatose and would, if competent, wish to terminate your life. you must make this decision knowingly and voluntarily, while competent, and give your authority in writing. your family does not have to use the authority, if they choose not to, however, they cannot make that decision if they do not have this statement.
restrictions and sSpecial instructions
are there any restrictions or special instructions you want to make regarding the distribution of any specific asset or property comprising the trust corpus? Be as creative as you like. you can restrict beneficiaries from getting the bulk of their inheritance until they are 18, 21, 25 or older; you can direct the trustees to purchase a car for any beneficiary at age 16 or older. the trust can pay for any part of or all of a college education for any beneficiary. you can restrict the amount of any distribution or deny any distribution to any beneficiary who has become addicted to alcohol, gambling or drugs, etc., or who has become married to anyone that is addicted to alcohol, gambling or drugs, etc.
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