Revocable Living Trust Agreement for an Individual (India)
This document is a template for a revocable living trust, which allows an individual to manage their property and assets during their lifetime and outline how they should be distributed after their death. It defines the roles of the grantor, trustees, and beneficiaries, while providing flexibility for the grantor to amend or revoke the trust at any time.
Revocable Living Trust Agreement for an Individual
This Irrevocable Trust Agreement is made this _________ day of __________, _______________,
Between
______________ s/o ________________ r/o __________________________, herein referred to as Grantor,
AND
______________ s/o ________________ r/o __________________________ and __________________ s/o _______________ r/o __________________________, herein jointly referred to as Trustees.
WHEREAS, Grantor is now the owner of the property described in Exhibit A attached hereto and made a part hereof,
AND WHEREAS, Grantor desires to make provision for the care and management of such property, and the collection of the income there from, and the disposition of both such income and such property in the manner herein provided:
Now, therefore, for the reasons set forth above, and in consideration of the mutual covenants set forth herein, Grantor and Trustees agree as follows:
1. That the Grantor, in consideration of the acceptance by trustee of the trust herein created, hereby convey, transfer, assign, and delivers to Trustees their successors in trust and assigns, the property described in Exhibit A attached hereto and made a part hereof, by this reference, which property, together with all other property that may from time to time be held by Trustees hereunder, is herein referred to as "Trust Estate".
2. That the Grantor, and any other persons shall have the right at any time to add property acceptable to Trustees to this trust and such property, when received and accepted by Trustees, shall become part of the Trust Estate.
3. That the Trustees shall care for and manage the trust estate and collect the income derived there from, and, after the payment of all taxes and assessments thereon and all charges incident to the management thereof, dispose of the net income there from and corpus thereof, as follows
4. During the lifetime of Grantor the Trustees may pay income of the trust estate and such portions of the principal as the Grantor from time to time may direct to the Grantor, or otherwise as he/she directs during his/her life. After the death of the Grantor the successor trustee shall distribute the trust estate to the following beneficiary or beneficiaries who shall survive me:
a. ____________ (Name & address)
b. ____________ (Name & address)
c. ____________ (Name & address)
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