This Living Trust Agreement (“Agreement”), dated ____________, between __________
(“Grantor” or “Beneficiary”) of _________________ and _______________ (“Trustee”).
In consideration of the mutual covenants and promises set forth in this Agreement, Grantor and Trustee agree as follows:
1. PURPOSE. The purpose of this Agreement is to establish a Trust to receive and manage assets for the benefit of Grantor during Grantor’s lifetime, and to further manage and distribute the assets of Trust upon the death of Grantor.
2. FUNDING OF TRUST. This Trust shall be funded with assets transferred to this Trust by Grantor at the time of creating this Trust, or at any later time. During the lifetime of Grantor, any interest in community property transferred into or out of this Trust shall retain its original character and such property shall not be commingled. This Trust may also receive property from any person or entity that is acting under the authority granted to that person or entity by Grantor. It is also expected that this Trust may receive assets pursuant to the terms of Grantor’s Last Will and Testament….
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