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html http://www.findlegalforms.com/public/LIVT/wyoming.html\n\nAppendix A ­ State Law Digest Used by permission of copyright holder © \'Daniel Sitarz\' 2005\n\n2\n\nom/public/LIVT/virginia.html http://www.findlegalforms.com/public/LIVT/washington.html http://www.findlegalforms.com/public/LIVT/west_virginia.html http://www.findlegalforms.com/public/LIVT/wisconsin.nnessee.html http://www.findlegalforms.com/public/LIVT/texas.html http://www.findlegalforms.com/public/LIVT/utah.html http://www.findlegalforms.com/public/LIVT/vermont.html http://www.findlegalforms.ccom/public/LIVT/rhode_island.html http://www.findlegalforms.com/public/LIVT/south_carolina.html http://www.findlegalforms.com/public/LIVT/south_dakota.html http://www.findlegalforms.com/public/LIVT/tetml http://www.findlegalforms.com/public/LIVT/oklahoma.html http://www.findlegalforms.com/public/LIVT/oregon.html http://www.findlegalforms.com/public/LIVT/pennsylvania.html http://www.findlegalforms.com/public/LIVT/new_york.html http://www.findlegalforms.com/public/LIVT/north_carolina.html http://www.findlegalforms.com/public/LIVT/north_dakota.html http://www.findlegalforms.com/public/LIVT/ohio.hp://www.findlegalforms.com/public/LIVT/new_hampshire.html http://www.findlegalforms.com/public/LIVT/new_jersey.html http://www.findlegalforms.com/public/LIVT/new_mexico.html http://www.findlegalforms.s.com/public/LIVT/missouri.html http://www.findlegalforms.com/public/LIVT/montana.html http://www.findlegalforms.com/public/LIVT/nebraska.html http://www.findlegalforms.com/public/LIVT/nevada.html httLAND SOUTH CAROLINA SOUTH DAKOTA TENNESSEE TEXAS UTAH VERMONT VIRGINIA WASHINGTON WEST VIRGINIA WISCONSIN WYOMING\n\nhttp://www.findlegalforms.com/public/LIVT/mississippi.html http://www.findlegalformight holder © \'Daniel Sitarz\' 2005\n\nMISSISSIPPI MISSOURI MONTANA NEBRASKA NEVADA NEW HAMPSHIRE NEW JERSEY NEW MEXICO NEW YORK NORTH CAROLINA NORTH DAKOTA OHIO OKLAHOMA OREGON PENNSYLVANIA RHODE IS.html MICHIGAN MINNESOTA http://www.findlegalforms.com/public/LIVT/michigan.html http://www.findlegalforms.com/public/LIVT/minnesota.html 1\n\nAppendix A ­ State Law Digest Used by permission of copyrTICUT DELAWARE DISTRICT OF COLUMBIA FLORIDA GEORGIA HAWAII IDAHO ILLINOIS INDIANA IOWA KANSAS KENTUCKY LOUISIANA MAINE MARYLAND\n\nMASSACHUSETTS http://www.findlegalforms.com/public/LIVT/massachusettsom/public/LIVT/louisiana.html http://www.findlegalforms.com/public/LIVT/maine.html http://www.findlegalforms.com/public/LIVT/maryland.html\n\nALABAMA ALASKA ARIZONA ARKANSAS CALIFORNIA COLORADO CONNECdiana.html http://www.findlegalforms.com/public/LIVT/iowa.html http://www.findlegalforms.com/public/LIVT/kansas.html http://www.findlegalforms.com/public/LIVT/kentucky.html http://www.findlegalforms.cwww.findlegalforms.com/public/LIVT/hawaii.html http://www.findlegalforms.com/public/LIVT/idaho.html http://www.findlegalforms.com/public/LIVT/illinois.html http://www.findlegalforms.com/public/LIVT/in/delaware.html http://www.findlegalforms.com/public/LIVT/district_of_columbia.html http://www.findlegalforms.com/public/LIVT/florida.html http://www.findlegalforms.com/public/LIVT/georgia.html http://dlegalforms.com/public/LIVT/california.html http://www.findlegalforms.com/public/LIVT/colorado.html http://www.findlegalforms.com/public/LIVT/connecticut.html http://www.findlegalforms.com/public/LIVTic/LIVT/alabama.html http://www.findlegalforms.com/public/LIVT/alaska.html http://www.findlegalforms.com/public/LIVT/arizona.html http://www.findlegalforms.com/public/LIVT/arkansas.html http://www.fin\n\nAPPENDIX A FindLegalForms.com State Law Digest for Living Trusts\n(Click\n\non the appropriate state link below to access the state\'s living trusts law summary) http://www.findlegalforms.com/publname is subscribed to this instrument appears to be of sound mind and under no duress, fraud, or undue influence. _____________________________ Notary Public My commission expires ____________________y and, under oath, stated that he or she is the person described in the above document and he or she signed the above document in my presence. I declare under penalty of perjury that the person whose ___ Printed Name of Trustee 4.\n\nNotary Acknowledgment\n\nState of ____________________ County of ____________________ On ____________________, ______________________________ came before me personall 2. I hereby acknowledge that I accept the office of Trustee of the Trust, and am now acting as Trustee of the Trust. 3. ______________________________ Signature of Trustee _______________________________________________, am Trustee of the ___________________________ ______________ Living Trust, which was created on the date of ______________________, by the grantor, _____________________________. signature and printed name (do not sign unless in front of a notary public). 4. The Notary Acknowledgment section (to be completed by notary public).\n\nRegistration of Living Trust\n1. I, __________or your state, there are no penalties or consequences for failing to do so. 1. Full name of trustee, Name of Living Trust, and Date original Living Trust was created. 2. No information needed. 3. YourTrust with their local courts. Please check the State Law Digest to determine if such registration is required in your state. Note also that even though such registration may technically be required fn.\n\nCompleting Your Living Trust\n\n3\n\nInstructions for Registration of Living Trust\nResidents of a number of states are required to register the main details regarding the existence of a Living f Assets of Living Trust or if you entirely revoke your Living Trust, you must be certain to officially transfer ownership of the property back to yourself using the appropriate ownership documentatiod which is used to transfer property to the trust would be \"Andrea Ann Doria, as Trustee of the Andrea Ann Doria Living Trust, dated June 4, 2003.\" If you add or delete property from your Schedule oto the Living Trust, you should specify ownership as follows: \"[your name], as Trustee of the [your name] Living Trust, dated [date of creation of the trust].\" So, for example, the name on a new deetes in the name of the trust. Transfers of ownership for partnerships will generally require amending the partnership agreement to specify ownership by the trust) When transferring property ownership or fund) Business interests (ownership of a sole proprietorship is transferred by listing it on your Schedule of Assets of Living Trust. Corporate ownership transfers require reissuing stock certifica bonds are generally transferred by having a new stock certificate or bond issued. Mutual fund or brokerage accounts are transferred by completing paperwork supplied by the particular brokerage house priate federal agency) Bank accounts and safe deposit boxes (generally transferred by completing paperwork supplied by the particular financial institution) Stocks, bonds, and mutual funds (stocks anden be filed with the appropriate state department) Patents, copyrights, and trademarks (transferred generally, by an Assignment of Property to Living Trust form which must then be filed with the appro office) Motor vehicles (transferred by title generally, which must then be filed with the state\'s motor vehicle department or Secretary of State) Boats (transferred by title generally, which must th and the necessary ownership documents that you will need to complete include the following: All real estate (transferred by deed, which must then be properly recorded in the county or parish clerk\'sg Trust\n\n2\n\nTo be certain that these events do not come to pass, you must complete the proper documents of title to pass ownership of the property from yourself to the Trust. The types of propertyhave a will, would be distributed to your heirs as determined by the state, or, in a worst case scenario, would actually be forfeited to the state if you have no living heirs.\n\nCompleting Your Livin Trustee will have no legal authority to distribute the property to your chosen beneficiaries. Such untransferred property would pass to the beneficiaries of any will you might have or, if you do not as soon as possible after completing your Living Trust. If you do not effectively transfer the property to your Trust, this property will not be considered part of your trust estate and your Successorning and having your Living Trust notarized, you will need to complete the transfers to the Trust of any property which has ownership documentation. It is very important that you make these transfers y inform him or her of any amendments to your Living Trust which you prepare or of any decision to revoke your Living Trust.\n\nTransferring Property to Your Living Trust\nAfter you have completed sig Successor Trustee. A final precaution, if you desire, is to allow the Successor Trustee whom you have named to keep a copy of your Living Trust. Be careful, however, to be certain that you immediatelregarding your beneficiaries. Any title documents or deeds relating to property which is to be transferred under your Living Trust may also be stored with your Living Trust for the convenience of youruestionnaire, and the Successor Trustee Information List with your Living Trust in order to provide your Successor Trustee with an inventory and location list of your assets and a list of information practice to store any life insurance policies and a copy of your birth certificate in the same location. Additionally, it is also prudent to store a copy of your Property Questionnaire, Beneficiary Qof your Living Trust shortly after your demise to determine if there are any necessary duties which must be looked after without delay, for example: funeral plans or organ donations. It is also a goodf and under lock and key. Wherever you decide to store your Living Trust, you will need to inform your chosen Successor Trustee of its location. The Successor Trustee will need to obtain the original inal may be found. An acceptable alternative to a safe deposit box is a home file box or desk that is used for home storage of your important papers. If possible, this storage place should be fireproo decide to keep the original in your safe deposit box, it is a good idea to keep a clearly marked copy of your Living Trust at home in a safe but easily-located place, with a note as to where the origafe deposit box is jointly held, many of these delays can be avoided. However, even in this situation, some states prevent immediate access to the safe deposit box of a deceased married person. If you accessible to your Successor Trustee at a moment\'s notice. Often there are certain unavoidable delays in gaining access to a safe deposit box in an emergency situation. If you are married and your s safe deposit box at a local bank. Although this is an acceptable place for storing a Living Trust, be advised that there are certain drawbacks. Your Living Trust should be in a place which is readilyg Your Living Trust\nHaving completed your Living Trust according to the foregoing instructions, it is now time to place your Living Trust in a safe place. Many people keep their important papers in an properly executed following the steps above, you may make photocopies of your Living Trust. It is a good idea to label any of these as \"COPIES.\"\n\nCompleting Your Living Trust\n\n1\n\nSafeguardinstamp with his or her Notary Seal. When this step is completed, your Living Trust is a valid legal document and you may be assured that your wishes will be carried out upon your death. Once it has beery Public, you should sign your Living Trust and Schedules in the places indicated. 6. The final step is for the Notary Public to complete the Notary Acknowledgments, sign in the space indicated, and iginal of your Living Trust and Schedules before a Notary Public. Many banks, real estate offices, and government offices have notary services and most will be glad to assist you. In front of the Notauld be blank. 4. When you have a perfect original of your Living Trust and Schedules, with no corrections and no additions, staple all of the pages together in the top left-hand corner. 5. Take the oror pencil. Your Living Trust, when completed properly, should look similar to the sample Living Trust contained in the previous section, except that the signature and notary acknowledgement spaces shot that particular page. Do not attempt to correct any errors with whiteout type correcting fluid or tape or with erasures of any kind. Do not cross out or add anything to the printed copy using a pen otal number of pages in the line above the Signature section. Again, very carefully proofread your entire Living Trust. Be certain that there are no errors. If there are any errors, correct and reprinchanges, print the entire Living Trust and the appropriate Schedules on good quality letter-sized (8½\" x 11\") paper. 3. After you have completed typing your Living Trust and Schedules, fill in the tial which is not to become a part of your Living Trust. Carefully re-read the entire worksheet version of your Living Trust to be certain that it is exactly as you wish. 2. After making any necessary to be certain that it exactly states your desires. 1. On a copy worksheet version of your Living Trust and Schedules, cross out all of the instructions, circled numbers, and any other extraneous materlow are instructions for preparing the final version of your Living Trust. As you go about preparing your Living Trust, take your time and be very careful to proofread the original before you sign it naires as a guide, you should already have selected and filled in the appropriate information on one the Living Trust form in this kit, and on the appropriate Schedules of Assets and Beneficiaries. Beon will explain how to put your own Living Trust together and properly complete and print it yourself or have it completed and readied for your signatures. Using your Property and Beneficiary Questionust\n\n7\n\nCompleting Your Living Trust\nAs you have noted in the sample Living Trust in the previous section, there is nothing very complicated about the arrangement of your Living Trust. This sectihis instrument appears to be of sound mind and under no duress, fraud, or undue influence.\n\nSally Lincoln\nNotary Public\n\n(Signed)\n\nMy commission expires 12/31/2005\n\nSample Completed Living Trr oath, stated that she is the person described in the above document and she signed the above document in my presence. I declare under penalty of perjury that the person whose name is subscribed to t Mary Ellen Smith Printed Name of Grantor State of Illinois County of Johnson\n\n(Signed)\n\nSample Completed Living Trust\n\n6\n\nOn June 4, 2003, Mary Ellen Smith came before me personally and, undetrust document to which this Schedule pertains, then any property distributed to such Beneficiary shall be subject to the terms of any such children\'s trust.\n\nMary Ellen Smith\nSignature of GrantorAlice Mary Smith and Bradley John Smith, my children, in equal shares. If any of the Beneficiaries named on this Schedule of Beneficiaries is subject to the terms of any children\'s trust in the main Smith Trust in the Bank of Centerville, Centerville, IL, account #123456789 All the rest and residue of the trust assets shall be distributed to John Henry Smith, my husband, or if not surviving, to ith, my children, in equal shares, or if not surviving, to John Henry Smith, my husband, the following trust assets shall be distributed: $20,000.00 in funds held in a trust account for the Mary Ellenn Furriers, size small, and described as a thigh-length light-brown mink coat with two (2) slash-side pockets, manufactured by Hanson and Company of Chicago, IL To Alice Mary Smith and Bradley John Smgold braided necklace To Helen Mary Barrett, my mother, or if not surviving, to Annie Janet Jones, my friend, the following trust assets shall be distributed: A brown mink coat purchased from Hendersoollowing trust assets shall be distributed: An oval diamond necklace purchased from Tiffany and Co., and described as an oval-cut diamond of .75 carats set in a white-gold setting on an 18-inch white-ities of the grantor, the Successor Trustee shall distribute the remaining assets of the Trust as follows: To Annie Janet Jones, my friend, or if not surviving, to Helen Mary Barrett, my mother, the fe on June 4, 2003, by Mary Ellen Smith, the grantor, to the Mary Ellen Smith Living Trust dated June 4, 2003. Upon the death of the grantor of the trust and the payment of all debts, taxes, and liabilnce.\n\nSally Lincoln (Signed)\nNotary Public My commission expires 12/31/2005\n\nSample Completed Living Trust\n\n5\n\nSCHEDULE OF BENEFICIARIES OF LIVING TRUST\nThis Schedule of Beneficiaries is madhe above document in my presence. I declare under penalty of perjury that the person whose name is subscribed to this instrument appears to be of sound mind and under no duress, fraud, or undue influeantor\n\nState of Illinois County of Johnson On June 4, 2003, Mary Ellen Smith came before me personally and, under oath, stated that she is the person described in the above document and she signed tin a trust account for the Mary Ellen Smith Trust in the Bank of Centerville, Centerville, IL, account #123456789\n\nMary Ellen Smith (Signed)\nSignature of Grantor Mary Ellen Smith Printed Name of Grd from Henderson Furriers, size small, and described as a thighlength light-brown mink coat with two (2) slash-side pockets, manufactured by Hanson and Company of Chicago, IL $20,000.00 in funds held val diamond necklace purchased from Tiffany and Co., and described as an oval-cut diamond of .75 carats set in a white-gold setting on an 18-inch white-gold braided necklace A brown mink coat purchase by Mary Ellen Smith, the grantor, to the Mary Ellen Smith Living Trust dated June 4, 2003. All grantor\'s right, title, and interest in the following property shall be the property of the trust: An on (Signed)\nNotary Public My commission expires 12/31/2005\n\nSample Completed Living Trust\n\n4\n\nSCHEDULE OF ASSETS OF LIVING TRUST\nThis Schedule of Assets of Living Trust is made on June 4, 2003, my presence. I declare under penalty of perjury that the person whose name is subscribed to this instrument appears to be of sound mind and under no duress, fraud, or undue influence.\n\nSally Lincollinois County of Johnson On June 4, 2003, Mary Ellen Smith came before me personally and, under oath, stated that she is the person described in the above document and she signed the above document inState of Illinois.\n\nSample Completed Living Trust\n\n3\n\nSignature\n\nMary Ellen Smith (Signed)\nSignature of Grantor Mary Ellen Smith Printed Name of Grantor\n\nNotary Acknowledgments\nState of Ilwritten, notarized, and attached to this document to be valid.\n\nGoverning Law\nThis trust, containing seven (7) pages, was created on the date noted above and will be governed under the laws of the trust at any time. The amendments must be written, notarized, and attached to this document to be valid. I also reserve the right to revoke this trust at any time. A revocation of this trust must be die simultaneously, I shall be conclusively presumed to have survived that beneficiary for purposes of this living trust.\n\nAmendments and Revocations\nI reserve the right to amend any or all of thisSurvivorship\nAll beneficiaries named in the Schedule of Beneficiaries of Living Trust must survive me by thirty (30) days to receive any gift under this living trust. If any beneficiary and I should add and/or delete any beneficiaries at any time. Any additions or deletions to the Schedule of Beneficiaries of Living Trust must be written, notarized, and attached to this document to be valid.\n\n Schedule of Beneficiaries of Living Trust which is specifically made a part of this trust, subject to the provisions of any children\'s trust which is created by this document. I reserve the right toshall then pay my valid debts, last expenses, and estate taxes from the assets of this trust. The successor trustee shall then distribute the remaining trust assets in the manner shown on the attached to the beneficiary\'s heirs; or if none, to the residue of the main trust created by this document.\n\nTermination of Trust\nUpon my death, this trust shall become irrevocable. The successor trustee ies prior to reaching the required age, or all trust funds have been distributed. Upon termination, any remaining undistributed principal and income shall pass to the beneficiary; or if not surviving, and education. Any\nSample Completed Living Trust\n\n2\n\nincome not distributed shall be added to the trust principal. Any such trust shall terminate when the beneficiary reaches the required age, df thirty (30) years old. In the trustee\'s sole discretion, the trustee may distribute any or all of the principal, income, or both as deemed necessary for the beneficiary\'s health, support, welfare,ears old on my death, I direct that any property that I give them under this trust be held in an individual children\'s trust for each child under the following terms, until each shall reach the age oor\'s accustomed manner of living.\n\nChildren\'s Trust Fund\nIf any of my children who are named as beneficiaries on the attached Schedule of Beneficiaries of Living Trust are under twenty-one (21) y successor trustee or alternative successor trustee shall manage the trust solely for the proper health care, support, maintenance, comfort, and/or welfare of the grantor, in accordance with the granter any children\'s trust created in this trust.\n\nIncapacitation\nShould the successor trustee or alternative successor trustee assume management of this trust during the lifetime of the grantor, thehe power to continue any business of the grantor; the power to institute or defend legal actions concerning the trust or grantor\'s affairs; and the power to execute any document necessary to administ accounts; the power to deposit funds in bank or other accounts uninsured by FDIC coverage; the power to enter into electronic fund transfer or safe deposit arrangements with financial institutions; tble fees to accountants, lawyers, or investment consultants for information or advice relating to the trust; the power to deposit and hold trust funds in both interest-bearing and non-interest-bearingcluding but not limited to bonds, notes, mortgages, and stocks; the power to receive additional property from any source and add to any trust created by this trust; the power to employ and pay reasonae power to sell or grant options for the sale or exchange of any trust property, including stocks, bonds, and any other form of security; the power to invest trust property in property of any kind, in manage trust real estate as if the trustee were the absolute owner of it, including the power to lease or grant options to lease the property, make repairs or alterations, and insure against loss; th but are not limited to: the power to sell trust property, borrow money, and encumber that property, specifically including trust real estate, by mortgage, deed of trust, or other method; the power tohe same power and authority to manage and distribute the trust assets as an individual owner has over his or her own wholly-owned property.\n\nAdditional Trustee Powers\nThe trustee\'s powers include,to perform any acts, in his or her sole discretion and without court approval, for the management and distribution of this trust and any subtrusts created by this trust. I intend the trustee to have talternative successor trustees.\n\nSample Completed Living Trust\n\n1\n\nTrustee\'s Powers\nIn addition to any powers, authority, and discretion granted by law, I grant the trustee any and all powers compensation. The successor trustee or alternative successor trustee shall not be liable for any actions taken in good faith. References to \"trustee\" in this document shall include any successor or ccessor trustee is not surviving or otherwise unable to serve, I appoint Elizabeth Joan Allen, of 234 Broadway, Centerville, IL, as Alternate Successor Trustee, also to serve without bond and without le to manage this trust and my financial affairs, then I appoint John Henry Smith, of 123 Main Street, Centerville, IL, as Successor Trustee, to serve without bond and without compensation. If this sut I may have for a state homestead exemption for which I am otherwise qualified.\n\nSuccessor Trustee\nUpon my death or if it is certified by a licensed physician that I am physically or mentally unabtaxes, insurance, maintenance, related costs, and expenses. The rights that I retain are intended to give me a beneficial interest in my principal residence such that I do not lose any eligibility thatrol of the trust property. If my principal residence is transferred to this trust, I retain the right to possess and occupy it for my life, rent-free and without charge. I will remain liable for all to the Schedule of Assets of Living Trust must be written, notarized, and attached to this document to be valid.\n\nGrantor\'s Rights\nUntil I die, I retain all rights to all income, profits, and conight to add or delete any of these assets at any time. In addition, I will prepare a separate Deed, Assignment, or any other documents necessary to carry out such transfers. Any additions or deletions Transfer\nI transfer ownership to this trust of all of the assets which are listed on the attached Schedule of Assets of Living Trust, which is specifically made a part of this trust. I reserve the rl status is that I am married to John Henry Smith and we have two (2) children whose names and dates of birth are: Alice Mary Smith (June 4, 1995), and Bradley John Smith (April 16, 2000).\n\nPropertyis Living Trust on June 4, 2003. This trust will be known as the Mary Ellen Smith Living Trust. I, Mary Ellen Smith, will be trustee of this trust and any subtrusts created under this trust. My marita for survivorship and reciprocal provisions for a children\'s trust fund.\n\nLIVING TRUST OF MARY ELLEN SMITH\nDeclaration of Trust\nI, Mary Ellen Smith, the grantor of this trust, declare and make th chose to prepare an individual Living Trust rather than a Joint Living Trust, it would be advisable that Mrs. Smith\'s husband also prepare a Living Trust for himself that includes similar provisionsprovide for a transfer of such property into the Trust. She may rest assured that by having properly prepared and signed a Living Trust, her wishes will be carried out upon her death. Since Mrs. Smithc will for use as a backup in the event of unforeseen acquisitions of property. Also note that should she acquire additional personal property, Mrs. Smith will need to amend her Schedule of Assets to managed to provide that all of her desires for the distribution of her property upon her death will be accomplished without the expense or delay of probate, she would still be wise to complete a basi with her husband. Thus, her husband will automatically own the entire piece of real estate upon her death and the property will not be required to be probated. Although it appears that Mrs. Smith has her death using the Schedule of Beneficiaries of Living Trust. Mrs. Smith has chosen not to place any real estate into her Trust since she holds title to her and her husband\'s home as a joint tenantcomplishes all of her desires. She has transferred the desired personal property to her trust using a Schedule of Assets of Living Trust and she has designated what each beneficiary shall receive uponust and Trustee of the children\'s trust By filling in the appropriate blanks in these Living Trust clauses, the fictional Mrs. Mary Smith is able to easily and quickly prepare a Living Trust which acbe held in trust if they are under the age of 21 upon her death until they are 30 Leave all the rest of her trust estate to her husband Appoint her husband to act as Successor Trustee of the Living Trm. In her Living Trust, Mrs. Smith wishes to accomplish the following: Leave her oval diamond necklace to a friend Leave her brown mink coat to her mother Leave $10,000.00 to each of her children, to Trust should look upon completion. In this sample Living Trust, a Mrs. Mary Smith is the fictional grantor. Mrs. Smith is married to Mr. John Smith, and they have two minor children who live with the. By reviewing this sample, you will be able to see what a completed Living Trust should look like and how the various parts are put together. Examine the clauses to see how your printed, final Livingexpires ____________________\n\nSchedule of Beneficiaries of Living Trust for Single Person or Individual Spouse\n\n2\n\nSample Completed Living Trust\nProvided below is a complete sample Living Trustrjury that the person whose name is subscribed to this instrument appears to be of sound mind and under no duress, fraud, or undue influence. _____________________________ Notary Public My commission ___ came before me personally and, under oath, stated that he or she is the person described in the above document and he or she signed the above document in my presence. I declare under penalty of perantor ______________________________ Printed Name of Grantor 6. Notary Acknowledgment State of ____________________ County of ____________________ On ____________________, ___________________________ocument to which this Schedule pertains, then any property distributed to such Beneficiary shall be subject to the terms of any such children\'s trust. 5. ______________________________ Signature of G_________ (name), my _______________________ (relationship). 4. If any of the Beneficiaries named on this Schedule of Beneficiaries is subject to the terms of any children\'s trust in the main trust d rest and residue of the trust assets shall be distributed to _______________________ ________________ (name), my _________________________ (relationship), or if not surviving, to _______________________________ (relationship), or if not surviving, to ________________________________ (name), my _________________________ (relationship), the following trust assets shall be distributed:\n\n3. All the_______________________________ (name), my _________________________ (relationship), the following trust assets shall be distributed:\n\nTo ________________________________ (name), my ________________ule of Beneficiaries of Living Trust for Single Person or Individual Spouse\n\n1\n\nTo ________________________________ (name), my ___________________________ (relationship), or if not surviving, to _________________ (relationship), or if not surviving, to ________________________________ (name), my _________________________ (relationship), the following trust assets shall be distributed:\n\nSched to ________________________________ (name), my _________________________ (relationship), the following trust assets shall be distributed:\n\nTo ________________________________ (name), my _______________________________ (relationship), the following trust assets shall be distributed:\n\nTo ________________________________ (name), my ___________________________ (relationship), or if not surviving,ing assets of the Trust as follows: To ________________________________ (name), my ___________________________ (relationship), or if not surviving, to ________________________________ (name), my _____ dated ___________________________. 2. Upon the death of the grantor of the trust and the payment of all debts, taxes, and liabilities of the grantor, the Successor Trustee shall distribute the remain Schedule of Beneficiaries is made on _____________________________ (date), by ______________________________, the grantor, to the _____________________________ __________________________ Living Trustnature and printed name (do not sign unless in front of a notary public). 6. The Notary Acknowledgment section (to be completed by notary public).\n\nSchedule of Beneficiaries of Living Trust\n1. Thisp of residuary beneficiary, Name of alternative residuary beneficiary (if main beneficiary has died first), and Relationship of alternative residuary beneficiary. 4. No information needed. 5. Your siged first), Relationship of alternative beneficiary, and Full description of property to be transferred. 3. For your residuary clause, complete the following: Name of residuary beneficiary, Relationshie original Living Trust was created. 2. For each item of property, complete the following: Name of beneficiary, Relationship of beneficiary, Name of alternative beneficiary (if main beneficiary has dies for details of how to list the property and beneficiaries. To complete this form, you will need the following information: 1. Date of assignment, Full name of grantor, Name of Living Trust, and Datich property you desire to leave to which beneficiaries of your Living Trust. Please refer to the property and beneficiary instructions above and attached to your Beneficiary and Property Questionnairis form should be used to list the beneficiaries of a single person or an individual spouse who is setting up an individual Living Trust. Please refer to your Beneficiary Questionnaire to determine whfluence. _____________________________ Notary Public My commission expires ____________________\n\nInstructions for Schedule of Beneficiaries of Living Trust for Single Person or Individual Spouse\nThed the above document in my presence. I declare under penalty of perjury that the person whose name is subscribed to this instrument appears to be of sound mind and under no duress, fraud, or undue in______________ On ____________________, ______________________________ came before me personally and, under oath, stated that he or she is the person described in the above document and he or she signy of the trust:\n\n3. ______________________________ Signature of Grantor ______________________________ Printed Name of Grantor 4. Notary Acknowledgment State of ____________________ County of ______he ____________________________ __________________________ Living Trust dated __________________________.\n\n2. All grantor\'s right, title, and interest in the following property shall be the propertted by notary public).\n\nSchedule of Assets of Living Trust\n1. This Schedule of Assets of Living Trust is made on _______________________ (date), by ______________________________, the grantor, to t 2. Full description of property to be transferred to the trust. 3. Your signature and printed name (do not sign unless in front of a notary public). 4. The Notary Acknowledgment section (to be complehow to list the property. To complete this form, you will need the following information: 1. Date of assignment, Full name of grantor, Name of Living Trust, and Date original Living Trust was created.ecessary, you should list the property on this Schedule of Assets. Please refer to the property instructions provided above and the instructions attached to your Property Questionnaire for details of property on this Schedule will effectively transfer the ownership of the property to the trust, unless an additional transfer of ownership document is necessary. Even if such additional paperwork is npropriate method of documentary transfer (such as a deed or title). Please refer to your Property Questionnaire to determine which property you desire to transfer to your Living Trust. The listing of erson or an individual spouse who is setting up an individual Living Trust. Please remember that any assets that have ownership documents must be transferred to the ownership of the trust using the apblic My commission expires ____________________\n\nInstructions for Schedule of Assets of Living Trust for Single Person or Individual Spouse\nThis form should be used to list the assets of a single punder penalty of perjury that the person whose name is subscribed to this instrument appears to be of sound mind and under no duress, fraud, or undue influence. _____________________________ Notary Pu______________________ came before me personally and, under oath, stated that he or she is the person described in the above document and he or she signed the above document in my presence. I declare ____ Signature of Grantor ______________________________ Printed Name of Grantor 6. Notary Acknowledgment State of ____________________ County of ____________________ On ____________________, ________r also warrants that the property is transferred free and clear of all liens, indebtedness, or liabilities. 4. Signed and delivered to the Living Trust on the above date. 5. __________________________ing property to the Living Trust:\n\n3. The grantor warrants that he or she owns this property and that he or she has the full authority to transfer and convey the property to the Living Trust. Granto_______________________ ______________________ Living Trust dated __________________________. 2. The grantor transfers and conveys possession, ownership, and all right, title, and intent in the followpleted by notary public).\n\nAssignment to Living Trust\n1. This Assignment to Living Trust is made on _________________________ (date), between ______________________________, the grantor, and the __d to the trust. 3. No information needed. 4. No information needed. 5. Your signature and printed name (do not sign unless in front of a notary public). 6. The Notary Acknowledgment section (to be comm, you will need the following information: 1. Date of assignment, Full name of grantor, Name of Living Trust, and Date original Living Trust was created. 2. Full description of property to be assignessigned\" to the trust. In addition, this form is also necessary for assigning patents, copyrights, or trademarks to the trust. If such occasions arise, you may use this document. To complete this forn assignment of property is not normally a legal necessity. However, some businesses or financial institutions may require this particular document to verify that the property has been technically \"a property with no ownership documentation, generally, the listing of property to be held by the trust on the Schedule of Trust Assets, effectively transfers ownership of property to the trust. Thus, ae property in question is real estate, patents, copyrights, trademarks, motor vehicles, boats, stocks, bonds, or some other form of property that has ownership documents (such as a deed or title). Foroperty to an individual or joint Living Trust is necessary. An assignment of property is used for the transfer of personal property to the trust. Recall that you must complete transfer paperwork if thual Spouse with Children\'s Trust Included\n\n4\n\nInstructions for Assignment to Living Trust by Single Person or Individual Spouse\nThis form may be used if an assignment of ownership of personal pr to be of sound mind and under no duress, fraud, or undue influence. _____________________________ Notary Public My commission expires ____________________\n\nLiving Trust for Single Person or Individhe person described in the above document and he or she signed the above document in my presence. I declare under penalty of perjury that the person whose name is subscribed to this instrument appearsknowledgment\nState of ____________________ County of ____________________ On ____________________, ______________________________ came before me personally and, under oath, stated that he or she is t be governed under the laws of the State of _____________.\n\n14. Signature\n______________________________ Signature of Grantor ______________________________ Printed Name of Grantor\n\n15. Notary Ac Trust for Single Person or Individual Spouse with Children\'s Trust Included\n\n3\n\n13. Governing Law\nThis trust, containing ____________________ pages, was created on the date noted above and willhed to this document to be valid. I also reserve the right to revoke this trust at any time. A revocation of this trust must be written, notarized, and attached to this document to be valid.\n\nLivingeneficiary for purposes of this living trust.\n\n12. Amendments and Revocations\nI reserve the right to amend any or all of this trust at any time. The amendments must be written, notarized, and attacving Trust must survive me by thirty (30) days to receive any gift under this living trust. If any beneficiary and I should die simultaneously, I shall be conclusively presumed to have survived that bthe Schedule of Beneficiaries of Living Trust must be written, notarized, and attached to this document to be valid.\n\n11. Survivorship\nAll beneficiaries named in the Schedule of Beneficiaries of Lithis trust, subject to the provisions of any children\'s trust which is created by this document. I reserve the right to add and/or delete any beneficiaries at any time. Any additions or deletions to f this trust. The successor trustee shall then distribute the remaining trust assets in the manner shown on the attached Schedule of Beneficiaries of Living Trust which is specifically made a part of y this document.\n\n10. Termination of Trust\nUpon my death, this trust shall become irrevocable. The successor trustee shall then pay my valid debts, last expenses, and estate taxes from the assets oon termination, any remaining undistributed principal and income shall pass to the beneficiary; or if not surviving, to the beneficiary\'s heirs; or if none, to the residue of the main trust created ball be added to the trust principal. Any such trust shall terminate when the beneficiary reaches the required age, dies prior to reaching the required age, or all trust funds have been distributed. Uple discretion, the trustee may distribute any or all of the principal, income, or both as deemed necessary for the beneficiary\'s health, support, welfare, and education. Any income not distributed shI give them under this trust be held in an individual children\'s trust for each child under the following terms, until each shall reach the age of _________________ years old. B. In the trustee\'s sod\nA. If any of my children who are named as beneficiaries on the attached Schedule of Beneficiaries of Living Trust are under _________________ years old on my death, I direct that any property that e of the grantor, in accordance with the grantor\'s accustomed manner of living.\n\nLiving Trust for Single Person or Individual Spouse with Children\'s Trust Included\n\n2\n\n9. Children\'s Trust Fun trust during the lifetime of the grantor, the successor trustee or alternative successor trustee shall manage the trust solely for the proper health care, support, maintenance, comfort, and/or welfar execute any document necessary to administer any children\'s trust created in this trust.\n\n8. Incapacitation\nShould the successor trustee or alternative successor trustee assume management of thisarrangements with financial institutions; the power to continue any business of the grantor; the power to institute or defend legal actions concerning the trust or grantor\'s affairs; and the power toh interest-bearing and non-interest-bearing accounts; the power to deposit funds in bank or other accounts uninsured by FDIC coverage; the power to enter into electronic fund transfer or safe deposit trust; the power to employ and pay reasonable fees to accountants, lawyers, or investment consultants for information or advice relating to the trust; the power to deposit and hold trust funds in bot trust property in property of any kind, including but not limited to bonds, notes, mortgages, and stocks; the power to receive additional property from any source and add to any trust created by thisor alterations, and insure against loss; the power to sell or grant options for the sale or exchange of any trust property, including stocks, bonds, and any other form of security; the power to investeed of trust, or other method; the power to manage trust real estate as if the trustee were the absolute owner of it, including the power to lease or grant options to lease the property, make repairs stee Powers\nThe trustee\'s powers include, but are not limited to: the power to sell trust property, borrow money, and encumber that property, specifically including trust real estate, by mortgage, dis trust. I intend the trustee to have the same power and authority to manage and distribute the trust assets as an individual owner has over his or her own wholly-owned property.\n\n7. Additional Tru I grant the trustee any and all powers to perform any acts, in his or her sole discretion and without court approval, for the management and distribution of this trust and any subtrusts created by th References to \"trustee\" in this document shall include any successor or alternative successor trustees.\n\n6. Trustee\'s Powers\nIn addition to any powers, authority, and discretion granted by law,s), as Alternate Successor Trustee, also to serve without bond and without compensation. The successor trustee or alternative successor trustee shall not be liable for any actions taken in good faith.hout compensation. If this successor trustee is not surviving or otherwise unable to serve, I appoint _______________________ (name), of _______________________________________________________ (addres__________________________________________ (address), as\n\nLiving Trust for Single Person or Individual Spouse with Children\'s Trust Included\n\n1\n\nSuccessor Trustee, to serve without bond and wity death or if it is certified by a licensed physician that I am physically or mentally unable to manage this trust and my financial affairs, then I appoint ____________________ (name), of ____________eneficial interest in my principal residence such that I do not lose any eligibility that I may have for a state homestead exemption for which I am otherwise qualified.\n\n5. Successor Trustee\nUpon ms and occupy it for my life, rent-free and without charge. I will remain liable for all taxes, insurance, maintenance, related costs, and expenses. The rights that I retain are intended to give me a b\n4. Grantor\'s Rights\nUntil I die, I retain all rights to all income, profits, and control of the trust property. If my principal residence is transferred to this trust, I retain the right to possesany other documents necessary to carry out such transfers. Any additions or deletions to the Schedule of Assets of Living Trust must be written, notarized, and attached to this document to be valid.\nets of Living Trust, which is specifically made a part of this trust. I reserve the right to add or delete any of these assets at any time. In addition, I will prepare a separate Deed, Assignment, or tal status is that __________________________________________________.\n\n3. Property Transfer\nI transfer ownership to this trust of all of the assets which are listed on the attached Schedule of Asstrust will be known as the ______________________________________ LivingTrust. I, ___________________________________, will be trustee of this trust and any subtrusts created under this trust. My mariUST OF ______________________________\n\n2. Declaration of Trust\nI, ______________________________, the grantor of this trust, declare and make this Living Trust on ____________________ (date). This ion (to be completed by notary public).\n\n3. 4. 5. 6. 7. 8. 9A. 9B. 10. 11. 12. 13. 14. 15.\n\nLiving Trust for Single Person or Individual Spouse with Children\'s Trust Included\n1. Title\nLIVING TR pages of the Living Trust, including schedules, and The state of your legal residence. Your signature and printed name (do not sign unless in front of a notary public). The Notary Acknowledgment sect\'s Trust to take effect, and The age of each child when the Children\'s Trust will terminate. No information needed. No information needed. No information needed. No information needed. The number ofes of your chosen Successor Trustee and Alternative Successor Trustee. No information needed. No information needed. No information needed. The age of your child(ren) under which you wish the Childrenng Trust, Your complete name, and Your marital status and the names of any children (see instructions above for the correct phrase). No information needed. No information needed. The names and address(generally, your full name is the name of the trust, such as the \"Gwendolyn Smith Living Trust\"). Your complete name, The date on which you wish the Living Trust to take effect, The name of the Liviour forms following the instructions in the section below entitled \"Completing Your Living Trust.\" To complete this form, you will need the following information: 1. 2. The name of the Living Trust ng the information which you included in your Property and Beneficiary Questionnaires. Delete any information that is not appropriate to your situation. You will then complete the preparation of all ytrusts, although this is not a legal requirement. Fill in each of the appropriate blanks in this Living Trust, a Schedule of Assets of Living Trust, and a Schedule of Beneficiaries of Living Trust usi and assets which may be left to the children in a trust fund. In most cases, a married person may desire to choose the other spouse as both successor trustee and trustee for any of their children\'s l Spouse with Children\'s Trust Included\nThis Living Trust is appropriate for use by an individual married person or a single person with one or more minor children, who desires to place the property\" for instructions on printing and final preparation of your Living Trust.\n\nGeneral Instructions for Preparing Living Trust Form\n\n8\n\nInstructions for Living Trust for Single Person or Individuaextraneous information has been deleted, look over the attached sample Living Trust to see how a completed Living Trust should look. Then proceed to the section entitled \"Completing Your Living Trustormation that you desire. Then starting at the beginning of the Living Trust forms, delete any of the words and phrases in the Living Trust forms that do not apply in your situation. After all of the er you have filled in all of the appropriate information, carefully re-read your entire Living Trust and your Schedules of Assets and Beneficiaries. Be certain that they contain all of the correct infdescriptive phrase like \"my wife,\" or \"my brother-in-law,\" or \"my best friend.\" It does not mean that the beneficiary must be related to you personally.\n\nFinishing Your Living Trust Forms\nAftrust estate except the $1,000.00 and the car. Be sure to clearly identify the beneficiary by full name. The space provided for an identification of the relationship of the beneficiary can be simply a ar. You could then name your children, in equal shares, as the alternate residuary beneficiaries. In this manner, if your spouse were to die first, your children would then equally share your entire t to a sister and a car to a friend. By then naming your spouse as the residuary clause beneficiary, you will have gifted everything in your trust estate to your spouse - except the $1,000.00 and the ctially be forfeited to the state. In addition, you may use this clause to give all of your estate (except your specific gifts) to one or more persons. For example: you make specific gifts of $1,000.00ficiary and alternate has died, the gift is put back into your trust estate and will pass under the residuary clause. If there is no residuary clause included, any property not disposed of could potenust are not able to completed, this clause goes into effect. For example, if a beneficiary refuses to accept your gift or the chosen beneficiary has died and no alternate was selected or both the beneou feel that you have given away everything that your trust owns under other clauses of your Living Trust, this can be a very important clause. If, for any reason, any other gifts under your Living Trary clause is included in the attached Living Trust form. With it, you will choose the person, persons, or organization to receive anything not covered by other clauses of your Living Trust. Even if ydditional gifts are desired, simply photocopy an additional page.\n\nGeneral Instructions for Preparing Living Trust Form\n\n7\n\nResiduary Clause: Although not a technical legal requirement, a residuhe words \"the residue\" instead. The result of this change will be that if your primary beneficiary dies before you do, your gift will pass under your residuary clause, which is discussed below. If aecommended to always specifically name your beneficiary(s), rather than using a description only, such as \"my children.\" In addition, you may delete the alternate beneficiary choice and substitute tization chosen as primary beneficiary, is no longer in business). In this or any of the other gift clauses, your choice for alternate beneficiary may be one or more persons or an organization. It is r The choice of alternate beneficiary is for the purpose of allowing you to designate someone to receive the gift if your first choice to receive the gift dies before you do (or, in the case of a organationship of the beneficiary can be simply a descriptive phrase like \"my wife,\" \"my brother-in-law,\" or \"my best friend.\" It does not mean that the beneficiary must be related to you personally.rly identify the beneficiary and alternate beneficiary by full name. You can also name joint beneficiaries, such as several children, if you choose. The space provided for an identification of the relenterville Church for use in purchasing a new roof for the church.\" Complex conditions, however, are not possible in this clause, and immoral or illegal conditions are not acceptable. Be sure to cleaor gifts of securities, state the amount of shares and the name of the company. You may add simple conditions to the gifts that you make, if you desire. For example: You may state \"$1,000.00 to the Cift from my brother John.\" Use serial numbers, colors, or any other descriptive words to clearly indicate the exact nature of the gift. For cash gifts, specifically indicate the amount of the gift. Fs shown on the deed to the property. For personal property, be certain that your description clearly differentiates your gift from any other property. For example: \"The blue velvet coat which was a g has been effectively transferred to the Trust. In your description of the property, you should be as specific and precise as possible. For land, it is suggested that you use the description exactly aned on the following pages. You may only give away property that the trust itself owns. Be certain that any property included in any of the gift clauses is also included on your Schedule of Assets andll be distributed:...\" \"My entire trust estate\" Be sure that you do not attempt to give any other gifts. However, you should still include the residuary clause in your Living Trust, which is explait does not contain a specific clause which states that you give one person your entire trust estate, you may make such a gift using this clause by simply stating after \"The following trust assets shato leave your trust estate in equal shares to two persons, name both parties after \"To my...\" and state \"one-half of my total trust estate to each party.\" Although the Living Trust form in this kia specific share of your total trust estate. If you wish to give some of your trust estate in the form of portions of the total, it is recommended to use fractional portions. For example, if you wish as is necessary to complete your chosen gifts. In these paragraphs, you may make any type of gift that you wish, either a cash gift, a gift of a specific piece of personal property or real estate, or beneficiary], the following trust assets shall be distributed:\"\n\nGeneral Instructions for Preparing Living Trust Form\n\n6\n\nFor making specific gifts, use as many of the \"To my...\" paragraphs ee, the Successor Trustee shall then distribute the remaining assets of the trust as follows: To my [relationship], [name of beneficiary], or if not surviving, to my [relationship], [name of alternatecific gifts to your beneficiaries. If chosen, add this clause or clauses after the phrase \"Upon the death of the grantor of the trust and the payment of all debts, taxes, and liabilities of the grantl property to anyone Make specific gifts of certain shares of your trust assets Make a gift of the rest (residue) of your assets to anyone Specific Gifts Clause: Use this type of clause to provide spe those persons or organizations that you wished to. Using the clauses in this section, you will be able to prepare a Living Trust in which you may: Make specific gifts of cash, real estate, or personaire will be your guide for preparing your Living Trust, both in terms of being certain that you have disposed of all of your Trust assets, and in terms of being certain that you have left gifts to allbeneficiaries, and the property that each of them will receive. You may wish to refer back to your Beneficiary Questionnaire to prepare this form. The information that you compiled for that Questionna Beneficiaries of Living Trust Form(s)\nUsing this form, you will direct how your property will be distributed by your Successor Trustee upon your death. You will select your beneficiaries, alternate be changed and an Amendment to Living Trust form should be filled out. (Forms and instructions for amending your living trust are available at www.findlegalforms.com ).\n\nCompleting Your Schedule ofa part of the Living Trust. It should be stapled to the original of the trust document. Any time that any changes are made to the assets that are to be included in the Living Trust, this schedule must (such as a stereo system, appliances, antiques, etc.), the listing on the Schedule of Assets of Living Trust will effectively transfer the ownership to the Trust. This Schedule of Assets will become aperwork. Simply listing the asset on this form does not transfer it to the trust if an ownership document is required. For those items of personal property for which no such ownership document existsf ownership document, such as a title, deed, stock certificate, or similar document, you must also transfer the ownership of the asset to the trust by completing a new deed, title, or other transfer pQuestionnaire and the attached discussion regarding common-law and community property to complete this form.) Very Important Note: If the particular asset that you list on this Schedule has any type och of these forms, you will note which shared property you wish to add to the trust and which separately-owned property you wish to transfer to the trust. Please refer back to your completed Property \nGeneral Instructions for Preparing Living Trust Form\n\n5\n\n(Note for married couples completing Joint Living Trust: You will each complete a separate schedule of Assets of Living Trust form. On eas suggested that you use the description exactly as shown on the deed to the property. For personal property, be certain that your description clearly differentiates your gift from any other property.ample: do not simply state \"my car,\" instead state \"a 1994 Buick Skylark, serial #123456789.\" In your description of the property, you should be as specific and precise as possible. For land, it io your Property Questionnaire to be certain that you include all of the property that you desire to be held in trust. Always describe the property in as detailed and clear a manner as possible. For exed. It is relatively simple to complete. Simply fill in the title information (name and date of trust) and then carefully list the property that you have chosen to include in the trust. Please refer tets of Living Trust Form(s)\nOn this form, you will include a listing of all of the property that you wish to transfer into the trust. This document should be attached to the Living Trust when complet Your Living Trust,\" below.\n\nNotary Acknowledgment Section\nThis section will be completed by a notary public. Please see \"Completing Your Living Trust,\" below.\n\nCompleting Your Schedule of Assegarding the operation of the trust or the actions of any trustee.\n\nSignature Section\nThe signature lines of your Living Trust will be completed in front of a notary public. Please see \"Completingdules, and the state of your legal residence where indicated after you have properly typed or had your Living Trust typed. The laws of the state of your principal residence will govern any questions r right to unilaterally revoke the Living Trust. You will also have the right to jointly revoke the Trust at any time.\n\nGoverning Law Section\nYou will fill in the number of pages, including all sche, you will only have the right to jointly amend the Trust. However, a surviving spouse will have the right to individually amend the trust. In addition, you will agree that either spouse will have thest be in writing, notarized, and attached to the original trust document to be valid. If you are completing a Joint Living Trust as a husband and wife, you agree that while both of you are still alivenAmendments and Revocations Section\nThis form of trust reserves the right to allow you to cancel (revoke) or amend this trust or any of the schedules at any time. However, any changes (amendments) mumary beneficiary, it is also wise to attempt to coordinate who your alternate beneficiaries may be in the event of a simultaneous death.\n\nGeneral Instructions for Preparing Living Trust Form\n\n4\n\f you and your spouse are both preparing individual Living Trusts, it is a good idea to be certain that each of your Living Trusts contains identical survivorship clauses. If you are each other\'s pri (possibly immediately if a result of a common accident or disaster) your property could wind up being left to the person whom your beneficiary designated, rather than to your alternate beneficiary. Ipossible to determine who died first. Without this clause in your Living Trust it would be possible that property would momentarily pass to a beneficiary under your Living Trust. When that person diesortion of this clause provides for a determination of how your property should pass in the eventuality that both you and a beneficiary (most likely your spouse) should die in a manner that makes it imour Living Trust. The practical effect of this is to be certain that your property passes under your Living Trust and not that of a beneficiary who dies shortly after receiving your gift. The second pp Section\nThis clause is included in every Living Trust. This clause provides for two possibilities. First, it provides for a required period of survival for any beneficiary to receive a gift under yvalid debts, last expenses, and taxes of the grantor and then distribute the trust assets as specified on the Schedule of Beneficiaries of Joint Living Trust of the final spouse to die.\n\nSurvivorshiule of Beneficiaries of Joint Living Trust. The Trust will become irrevocable upon the death of the surviving spouse, and in that event, the Successor Trustee will then be empowered to pay all of the l generally be the surviving spouse) shall pay all of the valid debts, last expenses, and taxes of the deceased spouse and then distribute the trust assets as specified on the deceased spouse\'s Schedd amendment which is attached to the Trust. If you are completing a Joint Living Trust as a husband and wife, this section provides that upon the death of the first spouse to die, the Trustee (who wilaries are subject to the terms of the Children\'s Trust. This section also provides that the Schedule of Beneficiaries may be amended at any time (before it becomes irrevocable) by a written, notarizestribute the trust assets as specified on the Schedule of Beneficiaries of Living Trust. It is also noted in any of the Trusts which contain a Children\'s Trust that any such distributions to beneficishall become irrevocable upon the death of the grantor. Upon that event, the Successor Trustee will then be empowered to pay all of the valid debts, last expenses, and taxes of the grantor and then di manage the trust and also provided that he or she not be required to post a bond nor allowed compensation for services rendered.\n\nTermination of Trust Section\nThis section provides that the Trust Living Trust) and be distributed accordingly. Additionally, since the Trustee of the Children\'s Trust is the same person who is Successor Trustee, you have already granted the Trustee broad powers touted to the heirs of the beneficiary (if there are any). If there are none, then the trust funds remaining will revert back to the residue of your trust (as noted on your Schedule of Beneficiaries of ld (beneficiary), if surviving. If the child is not surviving at the age when\n\nGeneral Instructions for Preparing Living Trust Form\n\n3\n\nthe trust is to terminate, the trust funds will be distriberminate when either the specific age is reached, all of the money is spent prior to that age, or the child dies prematurely. Upon termination, any remaining trust funds will be distributed to the chie trust provide that the trustee may distribute any or all of the income or principal to the children as he or she deems necessary to provide for their health, support, and education. The trust will the Children\'s Trust will terminate and the then-adult will receive the property with no restrictions, for example, 35 years of age. The ages that you select may be any reasonable age. The terms of th section to take effect. You may desire the gifts under the main Trust to be held in the Children\'s Trust for any child under the age of, say, 30 years of age. Then you will also select an age when ted, however, to attempt to delay receipt of control beyond the age of 35. In this section, you will fill in two ages. First, you will select an age that a child must be under for the Children\'s Truste that you may set up a Trust Fund for any gifts you have made to your minor children. You also may delay the time when they will actually have unrestricted control over your gift. It is not recommendor an incapacitated grantor and save the trust assets for them.\n\nChildren\'s Trust Fund Section\nThis clause will only be present in the Living Trusts which relate to children. It is with this clausfit of the grantor and in accordance with the grantor\'s accustomed manner of living. Thus, any beneficiaries of the trust cannot demand that the Successor Trustee stop spending trust assets to care fr lifetime. This incapacitation must be certified by a physician, as noted in the Successor Trustee section above. In this event, the Successor Trustee is bound to manage the Trust solely for the bene property.\n\nIncapacitation Section\nNo additional information needs to be filled-in for this section. This section goes into effect in the event that a grantor becomes incapacitated during his or he perform a specific act be spelled-out in a trust document. As you can see, the powers granted to the trustee are very extensive and approximate the power that an individual would have over his or herthe powers that are granted to the Trustee. Although in the previous section you granted any powers granted by law, many businesses and financial institutions require that a trustee\'s actual power toas an individual person has over their own property.\n\nAdditional Trustee Powers Section\nNo additional information need be filled-in in this section. This section provides a detailed enumeration of grant any Trustee broad powers to manage your trust assets. The powers are granted without court supervision and without oversight by anyone else. The powers granted are the same power and authority or Trustee by full name and address.\n\nGeneral Instructions for Preparing Living Trust Form\n\n2\n\nTrustee\'s Powers Section\nIn this section, no additional information needs to be filled-in and youally, you note that any reference to \"trustee\" in your document also refers to the Successor or alternative Successor Trustee. Be sure to clearly identify the Successor Trustee and alternate Successside. You also provide that he or she not be required to post a bond in order to be appointed to serve as Successor Trustee and that he or she will not be compensated for their service as Trustee. Fin or is otherwise unable to serve. A spouse, sibling, or other trusted party is usually chosen to act as Successor Trustee. The person chosen should be a resident of the state in which you currently re Successor Trustee may assume management of your trust. The chosen alternate Successor Trustee will assume the powers of the Trustee only if the Successor Trustee that you have chosen is not survivingbute your trust assets upon your death or who will take over the management of your trust upon your incapacitation. You also provide that any such incapacitation be certified by a physician before theng as each of you is alive.\n\nSuccessor Trustee Section\nWith this clause, you will make your choice of Successor Trustee and alternative Successor Trustee, the persons who will administer and distri does not interfere with any rights to homestead exemptions that you may have under state law. If you are completing a joint Living Trust as a husband and wife, each of you will have such rights as loove section (and by other transfer documents, if necessary). Regarding your home, you specifically state that you retain the right of possession for your entire life and that any transfer to the trust\'s Rights Section\nNo additional information need be filled-in for this section. Under this section, you retain full lifetime control of all of the trust\'s assets that you have transferred in the aboint Living Trust. It is also noted that the property that each of you transfer as \"separate\" property will retain its character as \"separate\" property even after transfer to the trust.\n\nGrantora deed or title transfer if necessary. If you are completing a joint Living Trust as a husband and wife, you are agreeing to transfer the property listed on your own individual Schedule of Assets of Jy are in writing, notarized, and attached to the trust. You are also agreeing to prepare any additional paperwork that may be necessary to complete any such transfers of ownership, such as completing f all of the property listed on your Schedule of Assets of Living Trust to the trust itself. You are also reserving the right to make any changes to your Schedule of Assets at any time, as long as therviving spouse will act as Trustee.\n\nProperty Transfer Section\nNo additional information need be filled-in in this section. This section of your trust provides that you are transferring ownership ostee of the trust and any\n\nGeneral Instructions for Preparing Living Trust Form\n\n1\n\nsubtrusts (for example: a Children\'s Trust) while you are both alive. Upon the death of either spouse, the su Trust). In addition, if you are completing a joint Living Trust as a husband and wife, there is an additional clause under this section which states that each of you will have the right to act as Trues and dates of birth are:\" Trusteeship Clause: Under this clause, you declare that you will act as the Trustee of the Trust and any subtrusts which may be created by the Trust (such as a Children\'ss and dates of birth are:\" I was previously married to [name of spouse] and that marriage ended on [date] by [death, divorce, or annulment] and we have [number] child[ren] currently living. Their namI am single and have [number] child[ren] currently living. Their names and dates of birth are:\" I am currently married to [name of spouse] and we have [number] child[ren] currently living. Their nameently married to [name of spouse] and we have no children.\" I was previously married to [name of spouse] and that marriage ended on [date] by [death, divorce, or annulment] and we had no children.\" ren, list the appropriate information for each child. This clause should be included in your Living Trust after the phrase \"My marital status is that...: I am single and have no children.\" I am currh of your full names in the spaces provided. Marital and Parental Status Clause: Depending upon your current marital and parental status you will choose one of the following clauses. If you have childame of Trust Clause: Fill in your own name prior to the title of the trust (for example: \"The John Smith Living Trust\"). If you are completing a joint Living Trust as a husband and wife, fill in botpermanently. If you are completing a joint Living Trust as a husband and wife, fill in both of your full names in the spaces provided. Fill in the date when you wish the Living Trust to take effect. Null name. For example: \"John James Smith, also known as Jimmy John Smith.\" In the spaces provided for your residence, use the location of your principal residence; that is, where you currently live lause is mandatory and must be included in all Living Trusts. In the first blank, include any other names which you are known by. Do this by adding the phrase: \"also known as\" after your principal fuld name the trust under your joint names (such as the \"Andrea Ann Doria and Peter William Doria Living Trust\").\n\nDeclaration of Trust Section\nIdentification and Date Clause: The identification csuch as the \"Andrea Ann Doria Living Trust\"). If you have been known under more than one name, use only your principal name. If you are completing a joint Living Trust as a husband and wife, you sho_________________\n\nGeneral Instructions for Preparing Living Trust Form\nTitle Section\nTitle Clause: The title is mandatory for all Living Trusts. Fill in the name blank with your full legal name (the person whose name is subscribed to this instrument appears to be of sound mind and under no duress, fraud, or undue influence. _____________________________ Notary Public My commission expires ___fore me personally and, under oath, stated that he or she is the person described in the above document and he or she signed the above document in my presence. I declare under penalty of perjury that __________________________ Printed Name of Trustee 6. Notary Acknowledgment State of ____________________ County of ____________________ On ____________________, ______________________________ came beeath, which is attached to this Affidavit. 4. I hereby accept the office of Trustee of the Trust, and am now acting as Trustee of the Trust. 5. ______________________________ Signature of Trustee _______, become Trustee of the Trust. 3. On the date of __________________________, the grantor, ________________________ ______________, died, as established in the certified copy of the Certificate of D_________ ______________, created the _______________________________________________ Living Trust. The Living Trust provides that upon the death of the grantor, I, _________________________________________________________, I, ______________________________, being of legal age and being duly sworn, declare the following:\n\n2. On the date of __________________________, the grantor, _______________ not sign unless in front of a notary public). 6. The Notary Acknowledgment section (to be completed by notary public).\n\nAffidavit of Assumption of Duties by Successor Trustee\n1. On this date, ____rust, Full name of grantor, Name of Living Trust, and Full name of Successor Trustee. 3. Date of death of grantor, and Name of grantor. 4. No information needed. 5. Your signature and printed name (do. The Successor Trustee will need to attach a certified copy of the grantor\'s death certificate to this form. 1. Date of Affidavit, and Full name of Successor Trustee. 2. Date of creation of Living Tsist on written verification that states that the Successor Trustee actually has the power to act on behalf of the Trust. If this is the case, this form should satisfy those institutions or businessesTrustee\nThis document may be used if your Successor Trustee is having any difficulty with a business or financial institution accepting his or her authority to act on behalf of the Trust. Some may inf death Place of service Date of service Time of service Memorial contribution preference\n\nSuccessor Trustee Information List\n\n5\n\nInstructions for Affidavit of Assumption of Duties by Successor Name Date of birth Place of birth Current residence Former residence Occupation Education Military service Club, union, civic, or fraternal organizations\n\nSpecial achievements\n\nSurvivors\n\nDate oname Address City, State, Zip Phone Friend name Address City, State, Zip Phone Friend name Address City, State, Zip Phone\n\nSuccessor Trustee Information List\n\n4\n\nNewspaper Obituary Information\nty, State, Zip Phone Friend name Address City, State, Zip Phone Friend name Address City, State, Zip Phone Friend name Address City, State, Zip Phone Friend name Address City, State, Zip Phone Friend ity, State, Zip Phone Relative name Address City, State, Zip Phone Relative name Address City, State, Zip Phone\n\nSuccessor Trustee Information List\n\n3\n\nFriends to Contact\nFriend name Address Ciative name Address City, State, Zip Phone Relative name Address City, State, Zip Phone Relative name Address City, State, Zip Phone Relative name Address City, State, Zip Phone Relative name Address Curance agent Address City, State, Zip Phone Employer Address City, State, Zip Phone Military unit Address City, State, Zip Phone\n\nSuccessor Trustee Information List\n\n2\n\nRelatives to Contact\nRelersons to Contact\nClergy Address City, State, Zip Phone Lawyer Address City, State, Zip Phone Accountant Address City, State, Zip Phone Life insurance agent Address City, State, Zip Phone General inse of person contacted Phone Address Arrangements made\n\nSuccessor Trustee Information List\n\n1\n\nLocation of memorial or church service Name of person contacted Phone Address Arrangements made\n\nPrranties Other important papers\n\nFuneral or Cremation Arrangements\nName of mortuary, funeral service, or crematorium Name of person contacted Phone Address Arrangements made\n\nName of cemetery Nam Stock certificates and bonds Promissory notes and loan documents Business records Partnership records Corporation records Automobile titles Income tax records Credit card records Birth certificate Warust documents Safe deposit box and key Bankbook and savings passbook Treasury bills and certificates of deposit Social Security records Real estate deeds and mortgage documents Veteran\'s informationon list and a copy of your Living Trust to the person whom you have chosen as your Successor Trustee.\n\nSuccessor Trustee Information List\nLocation of Records\nOriginal of will Original of codicil Ter your death, they may be under tremendous emotional stress and this information will help them perform their necessary duties with the least difficulty. You will probably wish to give this informati preparing any obituary listing. It may be very difficult to confront the need for this information. Please take the time to provide this valuable record of information for your Successor Trustee. Aftneral or burial arrangements that you have made, lists of important persons that the Successor Trustee will need to contact after your death, and information that will assist your Successor Trustee inor Trustee with valuable information that will make performance of his or her difficult task much easier. Included in this questionnaire is information relating to the location of your records, any fuccording to Living Trust Close trust books and affairs\n\nSuccessor Trustee Duties Checklists\n\n3\n\nNote Regarding Successor Trustee Information List\nThe following listing will provide your Successecessary tax returns Provide notice to all creditors Pay all debts and expenses of decedent, including funeral expenses Arrange for sale of trust assets, if necessary Distribute all remaining assets aoker and investment counselor Open bank accounts for trust Open decedent\'s safe deposit box Inventory all trust assets Collect all monies and property due to decedent Pay all taxes due and file all nArrange for appraisal of assets Begin collection of assets\n\nSuccessor Trustee Duties Checklists\n\n2\n\nContact banks, savings and loans, and credit unions Contact mortgage companies Contact stockbrnd water companies Contact newspaper and magazine subscription departments Contact credit card companies\n\nSuccessor Trustee Financial Duties\n(These cannot be delegated.)\nBegin inventory of assets enefits Contact Department of Motor Vehicles Arrange for management of business or real estate holdings Review all of decedent\'s records and legal documents Contact gas, telephone, electric, trash, arity Administration Obtain death certificates from attending physician Contact IRA or KEOGH account trustees Contact county recorder Contact post office Contact military regarding pensions and death bding pensions and death benefits Contact employer regarding pensions and death benefits\n\nSuccessor Trustee Duties Checklists\n\n1\n\nContact life insurance agent and report death Contact Social Secuces Contact veterans\' organizations\n\nSuccessor Trustee Duties within First Month\nContact general insurance agent Contact medical and health insurance companies Contact Medicare Contact union regaract lawyer and accountant Arrange for pallbearers Arrange for immediate care of decedent\'s children Arrange for living expenses for decedent\'s spouse Contact mortuary or funeral home regarding serviessor Trustee Duties\nContact cemetery regarding burial or cremation Contact local newspaper with obituary information Contact relatives and close friends Contact employer and business associates Conted to others, although your Successor Trustee may use the assistance of professionals, such as accountants, appraisers, or lawyers, if necessary.\n\nSuccessor Trustee Duties Checklists\nImmediate Succ required to be performed either before or after the exact time specified. All of the immediate and first month duties can be delegated to others. The duties in the Financial listing cannot be delegatr duties and providing them with information to help them. This listing is divided into two time periods, immediate and first month. These time periods are approximations and many of the duties may be not included. Scanning this list can give you an idea of the scope and range of the Successor Trustee\'s duties. You can provide invaluable assistance to your Successor Trustee by being aware of theinProvided on the following pages is a checklist of items that your Successor Trustee may have to deal with after your death. Although this list is extensive, there may be other personal tasks that areide to your Successor Trustee so that he or she may complete the form quickly and easily upon your demise.\n\nInformation for Successor Trustee\n\n3\n\nSuccessor Trustee Duties Checklist Instructions\ng as the Successor Trustee. (A form for this document is included later in this kit). You may wish to leave a completed, but unsigned copy of this form with the copy of the Living Trust that you proveal estate companies, or other financial institutions may require an Affidavit signed by the Successor Trustee that states that he or she has officially assumed the duties and responsibilities of actitake over the administration and distribution of the trust assets. No court proceedings are necessary to officially authorize the Successor Trustee to begin to manage the Trust. However, some banks, rnformation compiled in this kit.\n\nAffidavit of Assumption of Duties by Successor Trustee\nUpon your death, under the terms of the Living Trust, your Successor Trustee is automatically authorized to to be certain that they will be willing to act as Successor Trustee. In addition, it is wise to provide your Successor Trustee, in advance, with a copy of the Living Trust, as well as a copy of all i being managed. By waiving this bond requirement, these potential bond fees can be eliminated and the money saved passed on to your beneficiaries. You should discuss your choice with the person chosenyour estate considerable money, depending upon its size. The fees for Successor Trustee bonds are based upon the size of the estate and can amount to hundreds of dollars every year that your estate isthe Successor Trustee broad powers to manage your estate and also provide that he or she not be required to post a bond in order to be appointed to serve as Successor Trustee. This provision can save persons as co-Successor Trustees. It is preferable to appoint your first choice as primary Successor Trustee and the other person as alternate Successor Trustee. In your Living Trust, you will grant that Successor Trustees be competent, of legal age, and a citizen of the U.S. (Please see the State Law Digest for specific requirements in your state.) It is generally not wise to appoint two or more inventory of all of your property and distributing it to your chosen beneficiaries. The person chosen should be a resident of the state in which you currently reside. In addition, all states require icer, accountant, or attorney may also be chosen. The person chosen should be someone you trust and someone whom you feel can handle or at least efficiently delegate the complicated tasks of making ancessor Trustee\nYour choice of who should be your Successor Trustee is a personal decision. A spouse, sibling, or other trusted party is usually chosen to act as Successor Trustee, although a bank offe Successor Trustee. This is done without court approval of the disbursement and will most likely not require the assistance of an attorney.\n\nInformation for Successor Trustee\n\n2\n\nChoosing a Suc time-consuming requirement for your executor that will almost always require the help of an attorney. Under a Living Trust, the distribution of your property and money is usually handled solely by thplete, and may take much longer. If your property is distributed under a probate proceeding, court approval of all aspects of the disbursement must normally be obtained, which is a cumbersome and very named in the Living Trust, without any court proceeding of any kind. If your assets are distributed under a probate proceeding, the entire probate process generally takes from six to 18 months to comof the assets is typically the first official act of an Successor Trustee. The Successor Trustee is then generally empowered to distribute all of the remaining property to the persons or organizationsn of assets, management of the estate, and payment of any debts and taxes until such time as all creditors\' claims have been satisfied and other business of the estate completed. An inventory of all rity for the Successor Trustee to administer the estate is provided for in the terms of the Trust itself and does not have to be granted by a probate court. The Successor Trustee handles the collectiofully, has been notified of his or her duties in advance) locates the Living Trust. The Successor Trustee has the immediate legal authority to gather together all of the estate\'s property. This authopon the death of a person who has signed a valid Living Trust, there is a slightly different sequence of events which takes place. First, the Successor Trustee appointed in the Living Trust (who, hopem six to 18 months to complete. The distribution of your property and money is usually handled solely by the executor (with a lawyer\'s help to be certain that all legal requirements are fulfilled). Uor is generally empowered to distribute all of the remaining property to the persons or organizations named in the will and probate is officially closed. The entire probate process generally takes fro charges against the estate, an accounting and inventory of the estate\'s assets are then presented to the probate court by the executor. At this time, if everything appears to be in order, the executwance for the surviving spouse and children until such time as all affairs of the deceased person are completed and the estate is closed. Upon completion of all business and payment of all outstandinga fairly rare occurrence and is most difficult if the will was properly prepared and signed by a competent, sane adult. The executor will generally also be empowered under state law to provide an allo, by the way, only have a certain time period in which to make a claim against an estate. The same holds true for any contests of the will (challenges to the validity of a will). Contesting a will is ntil such time as all creditor\'s claims have been satisfied and other business of the estate completed. An inventory of all of the assets is typically the first official act of an executor. Creditorstor or administrator is given authority, he or she handles the collection of assets, the management of the estate, the arrangement of any necessary appraisals, and the payment of any debts and taxes ute rather than an executor. The court orders granting authority to an administrator are generally referred to as letters of administration.\n\nInformation for Successor Trustee\n\n1\n\nAfter the execue invalid, or if there is no will, the same sequence of events generally is followed. However, in this case, the party appointed to administer the estate is usually titled an administrator of the estant one. The order of preference for appointment is commonly as follows: surviving spouse, next of kin, a person having an interest in the estate or claims against the estate. If the will is shown to bally appoints the parties who are designated as guardians of any minor children and any trustees. If no executor was chosen in the will, or if the one chosen cannot serve, the probate court will appoigal authority to gather together all of the estate\'s property. This authority for the executor to administer the estate is generally referred to as letters testamentary. The probate court also officid at the time your will is signed or it is done with the actual testimony of those people who witnessed the signing of the will. Upon proof that it is a valid will, the executor is officially given leich means that it is determined whether or not the document presented is actually the deceased\'s will. This may be done in most states with a \"Self-Proving Affidavit\" which is prepared and notarizety. If necessary, the executor arranges for the funeral and burial. A lawyer is most often hired to handle the probate proceeding. Upon presenting the will to the probate court, the will is proved, whequence of events which takes place. First, the executor appointed in the will (who, hopefully, has been notified of his or her duties in advance) locates the will and files it with the proper authorie what many lawyers would have you believe, is not all that mysterious a matter. Upon the death of a person who has left a will or a person who has not left a will, in most states there is a general ss is generally entitled probate. How to avoid the probate court was the subject of one of the first self-help law books to challenge the legal establishment\'s monopoly on law. Probate however, despitlly planning your Living Trust, an overview of how the legal system operates after a person\'s death may be useful to keep in mind. The system of court administration of the estates of deceased partieust cannot be delegated to someone else. Many of the other duties that are listed at the end of this section can, however, be handled by other parties.\n\nOverview of Probate Proceedings\nBefore actuat be handled by your Successor Trustee alone (or with the assistance of any attorney or other professional, if necessary). The official duties of the Successor Trustee under the terms of the Living Tre or an executor of your will. You may designate either or both to perform most of these duties. However, the actual collection and distribution of your assets under the terms of your Living Trust musduties similar to those that a chosen executor would perform if property was left by a will. Later in this section are various lists of duties that need to be performed by either your Successor Trusteccessor Trustee\nIn this section, various information relating to the Successor Trustee of your Living Trust and the probate process is provided. In many respects, your Successor Trustee will perform ame (if any) Current income $ __________________ Amount, specific items, or share of trust estate that you desire to leave Alternate beneficiary\n\nBeneficiary Questionnaire\n\n7\n\nInformation for Suddress Spouse\'s name (if any) Current income $ __________________ Amount, specific items, or share of trust estate that you desire to leave Alternate beneficiary Name Relationship Address Spouse\'s name Relationship Address Spouse\'s name (if any) Current income $ __________________ Amount, specific items, or share of trust estate that you desire to leave Alternate beneficiary Name Relationship Aionnaire\n\n6\n\nName Relationship Address Spouse\'s name (if any) Current income $ __________________ Amount, specific items, or share of trust estate that you desire to leave Alternate beneficiary Nme Relationship Address Spouse\'s name (if any) Current income $ __________________ Amount, specific items, or share of trust estate that you desire to leave Alternate beneficiary\n\nBeneficiary Questo Leave Gifts?\nName Relationship Address Spouse\'s name (if any) Current income $ __________________ Amount, specific items, or share of trust estate that you desire to leave Alternate beneficiary Nae $ __________________ Amount, specific items, or share of trust estate that you desire to leave\n\nAlternate beneficiary\n\nAre There Any Other Relatives, Friends, or Organizations to Whom You Wish tcome $ __________________ Amount, specific items, or share of trust estate that you desire to leave\n\nAlternate beneficiary Other Dependent Date of birth Address Spouse\'s name (if any) Current incomspecific items, or share of trust estate that you desire to leave\n\nAlternate beneficiary\n\nBeneficiary Questionnaire\n\n5\n\nOther Dependent Date of birth Address Spouse\'s name (if any) Current in share of trust estate that you desire to leave\n\nAlternate beneficiary\n\nOther Dependents\nOther Dependent Date of birth Address Spouse\'s name (if any) Current income $ __________________ Amount, c items, or share of trust estate that you desire to leave\n\nAlternate beneficiary Sibling Date of birth Address Spouse\'s name (if any) Current income $ __________________ Amount, specific items, ornt, specific items, or share of trust estate that you desire to leave\n\nAlternate beneficiary Sibling Date of birth Address Spouse\'s name (if any) Current income $ __________________ Amount, specifishare of trust estate that you desire to leave Alternate beneficiary\n\nBeneficiary Questionnaire\n\n4\n\nSibling Date of birth Address Spouse\'s name (if any) Current income $ __________________ Amouare of trust estate that you desire to leave\n\nAlternate beneficiary\n\nSiblings\nSibling Date of birth Address Spouse\'s name (if any) Current income $ __________________ Amount, specific items, or items, or share of trust estate that you desire to leave\n\nAlternate beneficiary Parent Date of birth Address Spouse\'s name (if any) Current income $ __________________ Amount, specific items, or shitems, or share of trust estate that you desire to leave\n\nAlternate beneficiary\n\nParents\nParent Date of birth Address Spouse\'s name (if any) Current income $ __________________ Amount, specific te that you desire to leave\n\nAlternate beneficiary\n\nBeneficiary Questionnaire\n\n3\n\nGrandchild Date of birth Address Spouse\'s name (if any) Current income $ __________________ Amount, specific ust estate that you desire to leave\n\nAlternate beneficiary Grandchild Date of birth Address Spouse\'s name (if any) Current income $ __________________ Amount, specific items, or share of trust estare of trust estate that you desire to leave\n\nAlternate beneficiary Grandchild Date of birth Address Spouse\'s name (if any) Current income $ __________________ Amount, specific items, or share of tr, or share of trust estate that you desire to leave\n\nAlternate beneficiary Grandchild Date of birth Address Spouse\'s name (if any) Current income $ __________________ Amount, specific items, or shaat you desire to leave\n\nAlternate beneficiary\n\nBeneficiary Questionnaire\n\n2\n\nGrandchild Date of birth Address Spouse\'s name (if any) Current income $ __________________ Amount, specific itemsire to leave\n\nAlternate beneficiary\n\nGrandchildren\nGrandchild Date of birth Address Spouse\'s name (if any) Current income $ __________________ Amount, specific items, or share of trust estate th that you desire to leave\n\nAlternate beneficiary Child Date of birth Address Spouse\'s name (if any) Current income $ __________________ Amount, specific items, or share of trust estate that you des trust estate that you desire to leave\n\nAlternate beneficiary Child Date of birth Address Spouse\'s name (if any) Current income $ __________________ Amount, specific items, or share of trust estateesire to leave\n\nAlternate beneficiary\n\nBeneficiary Questionnaire\n\n1\n\nChild Date of birth Address Spouse\'s name (if any) Current income $ __________________ Amount, specific items, or share ofte that you desire to leave\n\nAlternate beneficiary Child Date of birth Address Spouse\'s name (if any) Current income $ __________________ Amount, specific items, or share of trust estate that you dte that you desire to leave\n\nAlternate beneficiary\n\nChildren\nChild Date of birth Address Spouse\'s name (if any) Current income $ __________________ Amount, specific items, or share of trust estastionnaire\nWho Will Receive Which of Your Assets?\nSpouse\nSpouse Maiden name Date of marriage Date of birth Address Current income $ __________________ Amount, specific items, or share of trust estaey will be able to be carried out after your death regardless of who may be required to interpret the language in your Living Trust.\n\nBeneficiary Questionnaire - Instructions\n\n4\n\nBeneficiary Quea Children\'s Trust Clause. You may delay the time when they will actually have unrestricted control over your gift. If you state your gifts simply, clearly, and accurately, you can be assured that threview your Living Trust each time there is a change in your family circumstances.\n\nBeneficiary Questionnaire - Instructions\n\n3\n\n9. Finally, property may be left to your children in trust using mediately if a result of a common accident or disaster) your property could wind up being left to the person whom your beneficiary designated, rather than to your alternate beneficiary. 8. Be sure to ter receiving your gift. Without this clause in your Living Trust it would be possible that property would momentarily pass to a beneficiary under your Living Trust. When that person dies (possibly im Trust form in this kit, the period is set at 30 days. The practical effect of this is to be certain that your property passes under your Living Trust and not that of a beneficiary who dies shortly afan that the beneficiary must be related to you personally. 7. A survivorship clause should be included in every Living Trust. This provides for a period of survival for any beneficiary. For the Living name. The space provided for an identification of the relationship of the beneficiary can be simply a descriptive phrase like \"my wife,\" \"my brother-in-law,\" or \"my best friend.\" It does not mees. In this manner, if your spouse were to die first, your children would then equally share your entire estate -- except the $1,000.00 and the car. Be sure to clearly identify the beneficiary by fullary, you will have gifted everything in your trust estate to your spouse -- except the $1,000.00 and the car. You could then name your children, in equal shares, as the alternate residuary beneficiarite (except your specific gifts) to one or more persons. For example: you make specific gifts of $1,000.00 to a sister and a car to a friend. By then naming your spouse as the residuary clause beneficiuse included in your Living Trust, any property not disposed of under your Living Trust could potentially be forfeited to the state. In addition, you may use this clause to give all of your trust estadied and no alternate was selected, or both the beneficiary and alternate have died, the gift is put back into your trust estate and would pass under the residuary clause. If there is no residuary claany reason, any other gifts under your Living Trust are not able to be completed, this clause goes into effect. For example, if a beneficiary refuses to accept your gift or the chosen beneficiary has covered by other clauses of your Living Trust. Even if you feel that you have given away everything that you own under other clauses of your Living Trust, this can be a very important clause. If, for though not a technical legal requirement, a residuary clause is included in the Living Trust form included below. With it, you will choose the person, persons, or organization to receive anything not he words \"the residue\" instead. The result of this change will be that if your primary beneficiary dies before you do, your gift will pass under your residuary clause, which is discussed next. 6. Alneficiary, is no longer in business). Your choice for alternate beneficiary may be one or more persons or an organization. In addition, you may delete the alternate beneficiary choice and substitute tnate someone to receive the gift if your first choice to receive the gift dies before you do\n\nBeneficiary Questionnaire - Instructions\n\n2\n\n(or, in the case of a organization chosen as primary beay not say \"I give this gift to my sister only if she divorces her deadbeat husband Ralph Edwards.\" 5. You should always provide for an alternate beneficiary for the purpose of allowing you to desigut simple conditions on the gift if they are reasonable and not immoral or illegal. For example: you may say \"This gift is to be used to purchase daycare equipment for the church nursery;\" but you mindividual names. For example: do not simply state \"my sisters;\" instead state \"my sister Katherine Mary Jones, my sister Elizabeth Anne Jones, and my sister Annette Josephine Jones.\" 4. You may pobert Edward Smith, of Houston Texas.\" This is particularly important if the beneficiary is an adopted child. 3. Never provide a gift to a group or class of people without specifically stating their ferentiates your gift from any other property. Always describe the beneficiaries is as precise and clear a manner as is possible. For example: do not simply state \"my son;\" instead state \"my son, Recific and precise as possible. For land, it is suggested that you use the description exactly as shown on the deed to the property. For personal property, be certain that your description clearly dife, if you wish to leave your trust estate in equal shares to two persons, use \"One-half of my total trust estate to . . .\" for each party. 2. In your description of the property, you should be as spoperty that has been effectively transferred to the trust). If you wish to give some of your trust estate in the form of portions of the total, it is recommended to use fractional portions. For exampl receive. You may make any type of gift that you wish, either a cash gift, a gift of a specific piece of personal property or real estate, or a specific share of your total trust estate (all of the prled and clear a manner as possible. For example: do not simply state \"my car;\" instead state \"a 1994 Buick Skylark, serial #123456789.\" Describe exactly what it is you wish for each beneficiary tolow regarding how to identify your gifts and beneficiaries, your intentions will be clear to whomever may need to interpret your Living Trust in the future: 1. Always describe the property in as detai even a stranger appointed by a court, must be able to determine exactly what property you intended to be a gift and exactly who it is you intended to receive it. If you follow the few rules which foladvice. The terms that you use to make any gifts can be any that you desire, as long as the gift is made in a clear and understandable manner. Someone reading the Living Trust at a later date, perhapsen is the only trust available for Living Trusts prepared using our forms. If you desire to leave property in trust to an adult or in a complex trust arrangement, you are advised to seek professional so beyond the scope of our forms. Finally, although it is possible to leave any gifts under your Living Trust in many types of additional complicated trusts, a simple trust for leaving gifts to childrs on any gifts in Living Trusts prepared using our forms. However, complex conditional gifts that impose detailed requirements that the beneficiary must comply with in order to receive the gift are alry Questionnaire - Instructions\n\n1\n\npossible using our forms. However, any complex shared gift arrangements will require the assistance of an attorney. In addition, you may impose simple conditions of gifts are possible but are not addressed in our Living Trusts forms. Simple shared gifts (for example: \"All my property to my children, Alice, Bill, and Carl, in equal shares\") are\n\nBeneficias kit incorporate these standard terms. Using these standard phrases, you may make a gift of any property that is owned by the Living Trust at your death to any beneficiary whom you choose. A few typeifts May You Make?\nThere are various standard terms and phrases that may be employed when making gifts under your Living Trust. The Living Trust clauses which are employed in the form included in thiTrust should be prepared with regard to how your life is presently arranged. It should, however, always be reviewed and updated each time there is a substantial change in your life.\n\nWhat Types of Gtuation may dictate. If you are divorced, married, remarried, or widowed, adopt, or have a child, there may be unforeseen consequences based on the way you have written your Living Trust. Your Living ng Trust are issues related to marriage, divorce, and children. First and foremost, you are advised to review your Living Trust periodically and make any necessary changes as your marital or family si or church, please check with an attorney in your area to see if there are any restrictions of this type in force in your state. Under this same category as to who may be a beneficiary under your Livit minute changes in a Living Trust in an attempt to have the bulk of a person\'s estate left to them or their group. If you intend to leave large sums of money or property to a charitable organization0 percent). The reasoning behind this rule is to prevent abuse of a dying person\'s desire to be forgiven. There have been, in the past, unscrupulous individuals or organizations who have obtained lasunts of money or property to a charitable organization are disallowed and also a percentage limit on the amount of a person\'s estate which may be left to a charitable organization (often a limit of 5s on the right to leave property to charitable organizations and churches. These restrictions are usually in two forms: a time limit prior to death when changes to a Living Trust which leave large amomed Successor Trustee, any illegitimate children (if named specifically), corporations, charities, creditors, debtors, any friends, acquaintances, or even strangers. A few states also have restrictionproperty under a Living Trust is termed a beneficiary of that Living Trust. Any person or organization you choose may receive property under your Living Trust. This includes any family members, the naiciary Questionnaire which you will use to actually make the decisions regarding which beneficiaries will receive which property.\n\nWho May Be a Beneficiary?\nAny person or organization who receives c property you will leave to each beneficiary through your Living Trust. There is an explanation of the various methods that you may use to leave gifts to your beneficiaries. Finally, there is a Benef$ __________________\n\nProperty Questionnaire\n\n11\n\nInstructions for Beneficiary Questionnaire\nIn this section you will determine both who you would like your beneficiaries to be and what specifi $ __________________ $ __________________\n\nWhat Is the Net Worth of Your Estate?\nTOTAL ASSETS minus (-) TOTAL LIABILITIES equals (=) YOUR TOTAL NET WORTH $ __________________ $ __________________ le Total Taxes Due Total Credit Card Accounts Total Miscellaneous Liabilities TOTAL LIABILITIES $ __________________ $ __________________ $ __________________ $ __________________ $ ________________________________ Total Miscellaneous Liabilities $ __________________\n\nTotal Liabilities\n(Insert totals from previous pages) Total Notes and Loans Payable Total Accounts Payable Total Mortgages Payab__________________ To whom due ________________________________________ Address ________________________________________ Term _________________________ Interest rate ________________ Amount due $ ____e $ __________________ To whom due ________________________________________ Address ________________________________________ Term _________________________ Interest rate ________________ Amount due $ Miscellaneous Liabilities\nTo whom due ________________________________________ Address ________________________________________ Term _________________________ Interest rate ________________ Amount du___________________________ Address ________________________________________ Amount due $ __________________ Total Credit Card Accounts Payable $ __________________\n\nProperty Questionnaire\n\n10\n\n______________________ Address ________________________________________ Amount due $ __________________ Credit Card Account # ________________________________________ Credit Card Company _______________________ $ __________________ $ __________________ $ __________________\n\nCredit Card Accounts\nCredit Card Account # ________________________________________ Credit Card Company __________________ble $ __________________\n\nTaxes Due\nFederal Income State Income Personal Property Real Estate Payroll Other Total Taxes Due $ __________________ $ __________________ $ __________________ $ ____________________________________________ Address ________________________________________ Term _________________________ Interest rate ________________ Amount due $ __________________ Total Mortgages Paya_____________________ Interest rate ________________ Amount due $ __________________ Property location ________________________________________ ________________________________________ Payable to ____ocation ________________________________________ ________________________________________ Payable to ________________________________________ Address ________________________________________ Term ____ Term _________________________ Interest rate ________________ Amount due $ __________________ Total Accounts Payable\nProperty Questionnaire\n\n$ __________________ 9\n\nMortgages Payable\nProperty l_____ Term _________________________ Interest rate ________________ Amount due $ __________________ Payable to ________________________________________ Address ________________________________________ Amount due $ __________________ Total Notes and Loans Payable $ __________________\n\nAccounts Payable\nPayable to ________________________________________ Address ________________________________________ Amount due $ __________________ Payable to ________________________________________ Address ________________________________________ Term _________________________ Interest rate ________________our Liabilities?\nNotes and Loans Payable\nPayable to ________________________________________ Address ________________________________________ Term _________________________ Interest rate _____________________________ $ __________________ $ __________________ $ __________________ $ __________________ $ __________________ $ __________________ $ __________________ $ __________________\n\nWhat Are Ytal Accounts & Notes Total Stocks Total Bonds Total Business Total Real Estate Total Personal Property Total Miscellaneous Total Pension Total TOTAL ASSETS $ __________________ $ __________________ $ ____ ________________________________________ $ __________________ $ __________________\n\nProperty Questionnaire\n\n8\n\nTotal Assets\n(Insert totals from previous pages) Cash Total Life Insurance To_______________________________________ $ __________________ ________________________________________ ________________________________________ $ __________________ ____________________________________n(Retirement benefits cannot be left by living trust) Company Plan type Net value Company Plan type Net value Company Plan type Net value Total Benefit Value ________________________________________ _____ $ __________________ ________________________________________ $ __________________\n\nOther Description Other Description Total Miscellaneous\n\nEmployee Benefit and Pension/Profit-Sharing Plans\___________________ ________________________________________ ________________________________________ ________________________________________ $ __________________ ____________________________________ Patents, Copyrights $ __________________ Description ________________________________________ Heirlooms Description $ __________________ ________________________________________ _________________________________________________ $ __________________ ________________________________________ $ __________________ 7\n\nTotal Personal Property\nProperty Questionnaire\n\nMiscellaneous Assets\nRoyalties,___________________________________ ________________________________________ ________________________________________ Jewelry and furs Description Artwork Description $ __________________ _________________________\n\nHousehold furnishings $ __________________ Description ________________________________________ ________________________________________ ________________________________________ _____/other vehicles Description $ __________________ ________________________________________ $ __________________ ________________________________________ $ __________________ ___________________________y be left by living trust, provided the assets have been effectively transferred to the trust. Patents, copyrights, and trademarks require special transfer forms.) Car Description Car Description Boat_________________ / __________ % Value of your share $ __________________ Total Real Estate $ __________________\n\nPersonal Property\n(Personal property owned individually or as a tenant-in-common maof your share $ __________________ Income property Location ________________________________________ Value $ _________________ How held and percent held? (Joint Tenants, Tenancy in Common, etc?) _____Vacant Land Location ________________________________________ Value $ _________________ How held and percent held? (Joint Tenants, Tenancy in Common, etc?) ______________________ / __________ % Value $ _________________ How held and percent held? (Joint Tenants, Tenancy in Common, etc?) ______________________ / __________ % Value of your share $ __________________\nProperty Questionnaire\n\n6\n\ncent held? (Joint Tenants, Tenancy in Common, etc?) ______________________ / __________ % Value of your share $ __________________ Vacation Home Location ________________________________________ Valueerred to ownership as tenants-in-common and then transformed to ownership by the trust.) Personal Residence Location ________________________________________ Value $ _________________ How held and per living trust, provided the assets have been effectively transferred to the trust. Property held in joint tenancy or tenancy-byentirety may not be left by living trust, unless it has first been transf______________________________________ Your net value $ __________________ Total Business Value $ __________________\n\nReal Estate\n(Property owned individually or as tenants-in-common may be left by__________________________________ Location ________________________________________ Type of business ________________________________________ Gross value $ _________________ Percentage shares held __________________________________ Gross value $ _________________ Percentage interest ________________________________________ Your net value $ __________________ Close Corporation Interest Name ________________________ Your net value $ __________________ Interest in Partnership Name ________________________________________ Location ________________________________________ Type of business _________________________ Location ________________________________________ Type of business ________________________________________ Gross value $ _________________ Percentage interest ________________________________ ________________________________________ ________________________________________ $ __________________\n\nProperty Questionnaire\n\n5\n\nInterest in Partnership Name _____________________________ Type of business ________________________________________ Your net value $ __________________ Sole Proprietorship Name Location Type of business Your net value\n\n______________________________y living trust, provided the assets have been effectively transferred to the trust.) Individual Proprietorship Name ________________________________________ Location _______________________________________________________________________ ________________________________________ $ __________________ $ __________________\n\nBusiness Interests\n(Ownership of business interests may generally be left b___________ ________________________________________ ________________________________________ ________________________________________ $ __________________ ________________________________________ ________ ________________________________________ $ __________________ ________________________________________ ________________________________________ ________________________________________ $ ___________________________ ________________________________________ ________________________________________ $ __________________ ________________________________________ ___________________________________USIP or Certificate # # and type of shares Value Company CUSIP or Certificate # # and type of shares Value Company CUSIP or Certificate # # and type of shares Value Total Bonds\n\n___________________________ ________________________________________ $ __________________ 4\n\nCompany CUSIP or Certificate # # and type of shares Value Company CUSIP or Certificate # # and type of shares Value Company C______________________ ________________________________________ ________________________________________ $ __________________ ________________________________________ _________________________________effectively transferred to the trust.) Company CUSIP or Certificate # # and type of shares Value Company CUSIP or Certificate # # and type of shares Value\nProperty Questionnaire\n\n___________________________ ________________________________________ $ __________________ $ __________________\n\nBonds\n(Ownership of individually-held bonds may be left by living trust, provided the assets have been ________________________ ________________________________________ ________________________________________ $ __________________ ________________________________________ _________________________________________________ $ __________________ ________________________________________ ________________________________________ ________________________________________ $ __________________ _________________________________________________ ________________________________________ $ __________________ ________________________________________ ________________________________________ ______________________ocks\n\n________________________________________ ________________________________________ ________________________________________ $ __________________ ________________________________________ _______e of shares Value Company CUSIP or Certificate # # and type of shares Value Company CUSIP or Certificate # # and type of shares Value Company CUSIP or Certificate # # and type of shares Value Total St_________\n\nProperty Questionnaire\n\n3\n\nCompany CUSIP or Certificate # # and type of shares Value Company CUSIP or Certificate # # and type of shares Value Company CUSIP or Certificate # # and typtrust.) Company CUSIP or Certificate # # and type of shares Value ________________________________________ ________________________________________ ________________________________________ $ _________________________\n\nTotal Accounts & Notes\n\nStocks\n(Ownership of individually-held stocks and mutual funds may be left by living trust, provided the assets have been effectively transferred to the __________ ________________________________________ ________________________________________ $ __________________ ________________________________________ ________________________________________ $ ______ ________________________________________ ________________________________________ $ __________________ ________________________________________ ________________________________________ $ _______________________________________________ ________________________________________ $ __________________ ________________________________________ ________________________________________ $ _______________________________________________ ________________________________________ $ __________________ ________________________________________ ________________________________________ $ __________________ _from Address Notes Due from Address Notes Due from Address Notes Due from Address Other Debts Due from Address Other Debts Due from Address Other Debts Due from Address\n\n$ __________________ _______counts Due from Address $ __________________ ________________________________________ ________________________________________\n\nProperty Questionnaire\n\n2\n\nAccounts Due from Address Accounts Due ______________________ Address ________________________________________ Total Insurance\n\n$ __________________\n\nAccounts and Notes Receivable\n(Debts payable to you may be left by living trust.) Ac_____________________________ $ __________________\n\nAnnuity Contract Company ________________________________________ Policy # ________________________________________ Beneficiary _____________________ ________________________________________ $ __________________ ________________________________________ ________________________________________ ________________________________________ _____________________________ ________________________________________ $ __________________ ________________________________________ ________________________________________ ______________________________________________________________________ ________________________________________ $ __________________ ________________________________________ ________________________________________ ______________________ Endowment Company Policy # Beneficiary Address Term Company Policy # Beneficiary Address $ __________________ ________________________________________ ________________________________________ _______n\nLife Insurance and Annuity Contracts\n(Life insurance benefits cannot be left by living trust.) Ordinary Life Company Policy # Beneficiary Address Ordinary Life Company Policy # Beneficiary Address_________________________ Account # ________________________________________ Name(s) on account ________________________________________ Total Cash $ __________________\n\nProperty Questionnaire\n\n1\___________________________ Expiration date ________________________________________ Name(s) on account ________________________________________ Other Account $ __________________ Bank ______________________________________ Account # ________________________________________ Name(s) on account ________________________________________ Certificate of Deposit $ __________________ Held by __________________________________________ Account # ________________________________________ Name(s) on account ________________________________________ Savings Account $ __________________ Bank ____________________________________________________ Account # ________________________________________ Name(s) on account ________________________________________ Savings Account $ __________________ Bank ___________________________________________________ Account # ________________________________________ Name(s) on account ________________________________________ Checking Account $ __________________ Bank _____ be left by living trust, provided the account ownership has been effectively transferred to the trust; joint tenancy and payable-on-death accounts cannot.) Checking Account $ __________________ Bank use by your Successor Trustee in managing your estate.\n\nProperty Questionnaire - Instructions\n\n6\n\nProperty Questionnaire\nWhat Are Your Assets?\nCash And Bank Accounts\n(Individual accounts can Questionnaires with the original of your Living Trust and provide a copy to your Successor Trustee, in order to provide a readilyaccessible inventory of your assets and list of your beneficiaries for to place in the Living Trust. When you have finished completing this Questionnaire, have it before you as you complete your personal Living Trust. It may also be prudent to leave a photocopy of these questions will gently force you to think about and make the important decisions which must be made in the planning and preparation of your Living Trust. Mark down each piece of property that you wishQuestionnaires should provide you with all of the necessary information to make the actual preparation of your Living Trust a relatively easy task. In addition, the actual process of filling out these other persons or organizations beneficiaries under your Living Trust are questions that will be answered as you complete the Beneficiary Questionnaire, also included in this kit. Together, these two lowing Property Questionnaire will assist you in that task. Determining who your dependents are, what their financial circumstances are, what gifts you wish to leave them, and whether you wish to makeive away property which you actually own, before you prepare your Living Trust it is helpful to gather all of the information regarding your personal financial situation together in one place. The folu must understand what your assets are, who your beneficiaries are to be, and what your personal desires are as to how those assets should be distributed among your beneficiaries. Since you may only gr, will affect the planning of your Living Trust.\n\nProperty Questionnaire - Instructions\n\n5\n\nPreparing Your Property Questionnaire\nBefore you begin to actually prepare your own Living Trust, yonning standpoint, the changes in the federal estate tax have virtually eliminated any consideration of tax consequences from the preparation of a Living Trust for most Americans. Other factors, howevemptions allowed and the inheritance taxes are usually scaled in such a way that spouses, children, and close relatives pay much lower rates than more distant relatives or unrelated persons. From a plarmation about estate taxes in your state. Less than half of the states impose an inheritance tax on the receipt of property resulting from the death of another. There are generally relatively high exetate tax regulations and thus allow for the same level of exemption equivalent from state estate taxes on death if the estate property totals under $1 million. Please see the State Law Digest for infoing Trust. State estate taxes are, as a rule, also very minimal or even nonexistent until the value of your estate is over $1 million. Most state\'s estate tax laws are tied directly to the federal ese scope of this kit. Therefore, if your assets (or your joint assets, if married) total over approximately $1 million, it is recommended that you consult a tax professional prior to preparing your Livpt from any federal estate tax. Even if your particular assets are over this minimum exemption, there are still methods to lessen or eliminate your tax liability. These methods, however, are beyond thfor the first $1 million of a person\'s assets. This exemption amount is scheduled to rise to $3.5 million by 2009. In addition, all of the value of a person\'s estate that is left to a spouse is exemhave released an estimated 95 percent of the American public from any federal estate tax liability on their death. The current IRS rules provide for the equivalent of an exemption from all estate tax asic information regarding each state\'s tax situation can be found in the State Law Digest. With regard to estate taxes, recent changes in the federal Income Tax Code, as it relates to estate taxes, onally, the federal government and a few states apply a gift tax on property transfers during a person\'s life. Nevada is the only state which does not impose any estate, inheritance, or gift taxes. By received and is paid by the person who has actually inherited the property. The federal government assesses an estate tax. Various states impose additional estate taxes and inheritance taxes. Additionto others upon your death. This tax is assessed against the estate itself and is paid out of the estate before the assets are distributed to the beneficiaries. An inheritance tax is a tax on propertoperty transfers upon death. In general, there are two main type of taxes: estate taxes and inheritance taxes. An estate tax is a government tax on the privilege of being allowed to transfer property nership of the property itself (for example: life insurance)\n\nProperty Questionnaire - Instructions\n\n4\n\nFederal Estate Taxes and State Inheritance and Estate Taxes\nVarious taxes may apply to prmation relating to the spouse\'s minimum statutory share of an estate. Note that you may not use your Living Trust to dispose of property for which a beneficiary has been chosen by the terms of the ow, unless it is held as joint tenants or tenants-by-the-entireties and your share of all other property which you own, earned, or purchased in your own name. Please check the State Law Digest for inforciary has been chosen by the terms of the ownership of the property itself (for example: life insurance). · In common-law states: Your share of all property in which your name is on the title documenther property acquired during the marriage by either spouse). If you are single, follow the common law rules below. Note that you may not use your Living Trust to dispose of property for which a benefi In community property states: All separate property (property which was brought into a marriage, or obtained by gift or inheritance during the marriage) and one half of the community property (all otllowances are generally of short duration and for relatively minor amounts of money and differ greatly from state to state. Thus, the property which you may dispose of by Living Trust is as follows: ·me states also allow a certain family allowance or homestead allowance to the spouse or children to insure that they are not abruptly cut off from their support by any terms of a Living Trust. These ach as will, life insurance or joint tenancies), he or she may take it anyway, generally from any property which you tried to leave to others. (Please see the State Law Digest for more information.) Soroperty). The effect of these statutory provisions is to make it impossible to disinherit a spouse entirely. If you choose to leave nothing to your spouse under your Living Trust or by other means (suwhat a Living Trust or a will states. This effectively prevents any spouse from being entirely disinherited through the use of the common-law rules of property (name on the title equals ownership of pn-law property states protect spouses from total disinheritance by providing a statutory scheme under which a spouse may choose to take a minimum share of the deceased spouse\'s estate, regardless of own money, and any property that you have been given as a gift or inherited. If you are married, however, there is a further restriction on your right to dispose of property by Living Trust. All commoatever share that the title gives you, unless the title is held specifically as joint tenants or tenants-by-the-entireties. You may also dispose of any property that you earned or purchased with your , the half-interest that a person owns will automatically become the surviving owner\'s property upon death. In common-law states, you may dispose of any property that has your name on the title in whommon, each person may leave a half-interest in the property to the beneficiary of their choice by their Living Trust. By contrast, if the property is owned as joint tenants with right of survivorshiperty held in joint tenancy or tenancy-by-the-entirety since it already has an automatic legal disposition upon your death. For example: if two persons own a parcel of real estate as equal tenants-in-cInstructions\n\n3\n\nheld as joint tenants or as tenants-by-the-entireties, the survivor automatically receives the deceased party\'s share. Thus, in your Living Trust, you may not dispose of any proproperty owned as tenants-in-common, the percentage or fraction that each tenant-incommon owns is property which may be disposed of under a Living Trust. If the property is\n\nProperty Questionnaire - ur state allows for a tenancy-by-the-entireties (a form of joint tenancy between married persons). There is an important difference between these types of joint ownership: namely, survivorship. With pown it solely. If your name and your spouse\'s name are on the document, you generally own it as tenants-in-common, unless it specifically states that your ownership is to be as joint tenants or if yot you may have been given as a gift or inherited, either before or during your marriage. If your name alone is on a title document in these states (for instance, a deed or automobile title), then you operty which you may dispose of with your Living Trust consists of all the property held by title in your name, any property that you have earned or purchased with your own money, and any property thay system, which was derived from English law. Under this system, there is no rule which gives 50 percent ownership of the property acquired during marriage to each spouse. In common-law states, the printly as tenants-in-common or as joint tenants. These forms of property ownership are discussed below.\n\nCommon-Law Property States\nResidents of all other states are governed by a common-law propertd marital community property. The other half of the community property automatically becomes your spouse\'s sole property on your death. Residents of community property states may also own property joiage Thus, if you are a married resident of a community property state, the property which you may dispose of by Living Trust consists of all of your separate property and one half of your jointlyownerity and Railroad retirement benefits) · All employment income of either spouse acquired during the marriage · All separate property which is mixed or comingled with community property during the marr property (thus it is community property unless acquired by gift or inheritance or is income from separate property) · All pensions and retirement benefits earned during a marriage (except Social Secuincome from separate property is considered community property Community property generally consists of: · All property acquired by either spouse during the course of a marriage, unless it is separateseparate) · All property a spouse receives by gift or inheritance during a marriage (if kept separate) · All income derived from separate property (if kept separate), except in Texas and Idaho, where eparate property by Federal law).\n\nProperty Questionnaire - Instructions\n\n2\n\nSpecifically, separate property generally consists of: · All property owned by a spouse prior to a marriage (if kept spouse, regardless of whose efforts actually went into acquiring the property. (Major exceptions to this general rule are Social Security and Railroad retirement benefits, which are considered to be s In other words, all property acquired during the marriage by either spouse, unless by gift or inheritance, is community property. Community property is considered to be owned in equal shares by each he marriage and kept separate during the marriage; and all property received individually by the spouse by gift or inheritance during the marriage. All other property is considered community property.rate property and community property. Separate property consists of all property considered owned entirely by one spouse. Separate property, essentially, is all property owned by the spouse prior to tmarital property system. The system itself is derived from ancient Spanish law. It is a relatively simple concept. All property owned by either spouse during a marriage is divided into two types: sepathe common-law property states rules below to determine your ownership rights.\n\nCommunity Property States\nSeveral states, mostly in the western United States, follow the community property type of ty states. The rules regarding community property only apply to married persons in those states that follow this type of property designation. If you are single, please disregard this section and use in states which follow community property designation of certain jointly-owned property. The following is a discussion of the basic property law rules in both community property and common law propers also apply in community property states as well. Another example of property in which only a certain share is actually able to be transferred by Living Trust is a spouse\'s share of marital propertyd any post-death arrangements. The ownership rights and shares of property owned jointly must be considered. This is discussed below under common law property states, although most joint ownership laweath. These buy-out provisions will be contained in any ownership or partnership documents that you may have. Review such documentation carefully to determine both the exact share of your ownership ann purposes often results in a lower value being placed on the share. Of course, certain partnership and other business ownership agreements require the sale of a partner\'s or owner\'s interest upon d that is actually yours. For business interests, it is generally advisable to pass the interest which you own to a beneficiary intact. The forced sale of the share of a business for estate distributio percentage. Examples of this may be a partnership interest in a company or jointly-held property. Using a Living Trust, you may leave only that percentage or fraction of the ownership of the property, the life insurance company or bank). The next category of property which may have certain restrictions regarding its transfer by Living Trust is property in which you may own only a certain share ory through the use of your Living Trust. If you wish to alter your choice of beneficiary in any of these cases, please alter the choice directly with the holder of the particular property (for instanceis already a valid determination of who will receive the property upon your death (as there is, for example, in the choice of a life insurance beneficiary), you may not alter this choice of beneficiar · Pension plans · Trust bank accounts · Payable-on-death bank accounts · U.S. Savings Bonds, with payable-on-death beneficiaries\n\nProperty Questionnaire - Instructions\n\n1\n\nIn general, if there ust are properties which have a designated beneficiary outside of the provisions of your Living Trust. These types of properties include: · Life insurance policies · Retirement plans · IRAs and KEOGHsy ownership which are automatically transferred to another party at your death, regardless of the presence of a Living Trust. In the first category of property which cannot be transferred by Living Try a percentage or share of certain other property. In such situations, only that share or percentage which you actually own may be transferred by your Living Trust. Finally, there are types of propert, contains certain factors which require further explanation. There are forms of property which you may \"own,\" but which may not be transferred by way of a Living Trust. In addition, you may own onlose of with Your Living Trust?\nIn general, you may dispose of any property that you own which has effectively been transferred to the Living Trust at the time of your death. This simple fact, howeverDigest for information concerning specific state laws, and be certain to check both your own state\'s laws and those of the state in which your other property is located.\n\nWhat Property May You Disphe state in which that real estate is found will govern the disposition of that particular real estate. Thus, if you own property outside of the state where you live, you should consult our State Law idity of the Living Trust as to any personal property and real estate located in that state. However, if any real estate outside of your home state is mentioned in the Living Trust, then the laws of tty. It is also important to understand that laws of different states may apply to a single Living Trust. The laws of the state in which you have your principal residence will be used to decide the vall of your assets and liabilities. This will allow you to have before you a complete listing of all of the property that you own as you begin to consider which beneficiaries should receive which properegardless of the type of property you own, there are certain general rules which must be kept in mind as you prepare your Living Trust. In addition, in this section you will prepare an inventory of alust are discussed in this section. Your assets consist of different types of property. It may be personal property, real estate, \"community\" property, stocks, bonds, cash, heirlooms, or keepsakes. Rtion of Your Living Trust 12. Appendix A ­ State Law Digest Links\n\nInstructions for Property Questionnaire\nThe methods and manners of distribution of your property upon your death using a Living Trng Trust 9.1. Sample Living Trust of Mary Ellen Smith 9.2. Sample Schedule of Assets of Living Trust 9.3. Sample Schedule of Beneficiaries of Living Trust 10. Completing Your Living Trust 11. Registraividual Spouse 7. Schedule of Assets of Living Trust for Single Person or Individual Spouse 8. Schedule of Beneficiaries of Living Trust for Single Person or Individual Spouse 9. Sample Completed Livitee 4. General Instructions for Preparing Living Trust Form 5. Living Trust for Single Person or Individual Spouse with Children\'s Trust Included 6. Assignment to Living Trust by Single Person or Indre 3. Successor Trustee 3.1. Information for Successor Trustee 3.2. Successor Trustee Duties Checklists 3.3. Successor Trustee Information List 3.4. Affidavit of Assumption of Duties by Successor Trusroperty Questionnaire 1.1. Instructions for Property Questionnaire 1.2. Property Questionnaire 2. Beneficiary Questionnaire 2.1. Instructions for Beneficiary Questionnaire 2.2. Beneficiary Questionnaiy, or tort (including negligence or otherwise) arising in any way out of the use of these materials. An attorney should be consulted for all serious legal matters.\n\nLiving Trust Kit ­ Contents\n1. Pot limited to, procurement of substitute goods or services; loss of use, data, or profits; or business interruption) however caused and on any theory of liability, whether in contract, strict liabilit, or affiliates, or ii) the providers, authors or publishers of the forms, be responsible or liable for any direct, indirect, incidental, special, exemplary, or consequential damages (including, but nmerchantability, suitability or completeness for any of the materials for your particular needs. The materials are used at your own risk. In no event will: i) FindLegalForms, Inc, its agents, partners and use of these materials is subject to the \"Disclaimers and Terms of Use\" found at findlegalforms.com. These materials are provided \"AS-IS.\" We do not give any express or implied warranties of http://www.findlegalforms.com/public/LIVT/LT-NYAP.doc. Disclaimer No Attorney-Client relationship is created by use of these materials. FindLegalForms, Inc. does not provide legal advice. The purchasence, links to the digest are provided in Appendix A. Note also that residents of the State of New York should complete a special Notice of Assignment of Property form, available at no extra charge at lete Living Trust document. NOTE: For state-specific rules and requirements regarding the formation and operation of living trusts, please see our State Law Digest for Living Trusts. For your convenief the Trust, without going through the expense and delay of probate. This kit includes a comprehensive array of forms, questionnaires, and general information that will assist you in assembling a compsingly popular estate planning tool, a Living Trust is a legal document that allows for the transfer of property to the persons or organizations named in the Living Trust upon the death of the maker oguidelines to assist you in preparing, drafting, and finalizing your Living Trust. This form is intended for a single person or individual spouse, and includes a Children\'s Trust provision. An increaInformation Living Trust Kit (Single Person or Individual Spouse with Children\'s Trust)\nProvided under agreement with copyright holder, © Nova Publishing Company 2004\n\nThis kit provides tools and