Trust Agreements
Set up a living trust to avoid probate, hold property, reduce taxes or manage your assets with these easy-to-use Trust Agreements and related forms.
Q. What is a living trust?
A. A living trust is one that is formed while you're alive (unlike a testamentary trust, which is created by your Will and does not exist until after your death). There are many different kinds of living trusts, and each has a specific purpose. Some are revocable (meaning they can be revoked after coming into effect) and some are irrevocable, meaning the terms of the trust cannot be changed once it becomes effective.
Q. Should I make my trust a revocable trust or an irrevocable trust?
A. That depends on what the underlying purpose of the trust is to be. Any property you place in a revocable trust can be transferred out of the trust whenever you want, but property placed in an irrevocable trust cannot. That property now belongs to the beneficiaries of the trust. This is the most effective means of earmarking assets for the benefit of minor children. Once they're part of the trust estate, they cannot be used in any manner or for any purpose except those stated in the Trust Declaration. It's also a widely used method of avoiding US federal estate taxes and protecting assets from attachment by creditors.
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Family Trust Forms Package to Replace Trustee | Canada
Appoint a replacement trustee for a family trust with this package of forms for Canada.
- The package contains the following:
- Appointment and Replacement of Trustee form.
- Consent to Act as Trustee.
- Resignation of Departing Trustee.
- Trustee Resolutions to be signed by the new trustee and the remaining trustees.
- This forms package is a downloadable digital product. All forms are contained in one file.
- Intended to be used only in Canada.
$12.49
Family Trust Forms to Set Up Trust | Canada
Establish a trust fund and appoint trustees for a family trust with this package of forms for Canada.
- The Family Trust package contains the following documents:
- Discretionary Trust Deed.
- Resolutions of the original trustee accepting the trust, acknowledging the settlement and providing for execution of documents and banking authority.
- Receipt for the settlement from the settlor.
- Consent to Act as Trustee form.
- Appointment of additional trustees.
- Trustee resolutions to be signed by the additional trustees.
- Available in MS Word format.
- Governed by Canadian tax laws and intended to be used only in Canada.
$59.99
Illinois Land Trust Agreement
Draw up a Land Trust Agreement for land in Illinois with this downloadable template.
- A land trust is a method of real estate ownership in which a trustee holds legal title to the real estate.
- The trust's beneficiaries have full power to dispose of the property and complete control over its management.
- The beneficiaries' rights and powers pass to their executors upon their death, and do not form part of their estate.
- The beneficiaries have the right to revoke, alter or amend the trust agreement on written notice to the trustee.
- The beneficiaries are responsible for filing tax reports and paying all real estate taxes and charges on the property.
- Available in MS Word format and fully editable.
- Intended for use only in the State of Illinois.
$17.99
India Private Trust Deed
Protect assets and funds located in India by placing the assets into trust with this Private Trust Deed.
- Purpose of Trust. The Trust is established for the benefit of a named beneficiary as life interest, and a trustee is appointed to administer the Trust and distribute the Trust income and assets as set out in the Trust Deed.
- Taxes and Costs. Prior to distribution of the Trust Fund, the trustee will pay all costs and expenses, including any taxes or other charges payable.
- Trust Income. The net income from the trust fund will be used for the maintenance and residence of the beneficiary during his/her lifetime.
- Trustee's Powers. The trustee has the power to accept donations, make investments, set up and operate bank accounts, borrow and lend money, purchase and lease property, enter into partnerships, and otherwise deal with the income of the Trust.
- Delegation of Duties. The trustee may hire or appoint other persons to assist him in his responsibilities.
- Replacement Trustee. The trustee has the power to appoint a replacement trustee to take over his duties if he is no longer able to perform them.
$17.99
Irrevocable Discretionary Trust Deed | Canada
Set up an Irrevocable Discretionary Trust with this template trust deed for Canada.
- A discretionary trust is also called a blind trust because the beneficiary has no information about the assets in the trust or how the trust is administered.
- The settlor (the person setting up the trust) is the sole beneficiary of the trust and cannot act as a trustee.
- The division date will occur either upon the death of the beneficiary or on the 21-year anniversary of the establishment of the trust, whichever is earlier.
- The settlor reserves no powers or rights, and shall receive no benefits, income or capital of the trust fund in his/her capacity as settlor.
- This trust cannot be revoked.
- During the lifetime of the settlor, no income or capital of the trust shall be distributed to the settlor's spouse or a minor child of the settlor unless the distribution does not result in attribution of income or gain to the settlor under the Income Tax Act (Canada).
- This Irrevocable Discretionary Trust Deed is a good strategy to use when it's important that the beneficiary not be aware of what assets are held in the trust so as to avoid any claims of conflict of interest.
$34.99
Irrevocable Trust Declaration | USA
Prepare an Irrevocable Trust Declaration to set up trusts for the benefit of a grantor's adult children with this template form for the USA.
- In the event of a beneficiary's death, the assets will be distributed per stirpes, but if the deceased beneficiary has no children, the share is distributed to the other beneficiaries.
- The net income will be distributed at the end of each calendar quarter. The body of the trust will be paid to the beneficiaries when they reach a specified age.
- The grantor cannot borrow any part of the trust property or income without adequate security and interest.
- The property or income of the trust cannot be sold for less than adequate compensation.
- This form is available in MS Word format. It can be easily customized to fit your circumstances.
- Governed by U.S. laws and intended for use only within the United States.
$17.99
Joint Spousal Trust Deed | Canada
Prepare a Joint Spousal Trust Deed with this downloadable template, pursuant to the provisions of the Income Tax Act (Canada).
- A joint spousal trust is an inter vivos trust established to benefit both spouses during their lifetimes and includes provisions for the remaining spouse after one passes away.
- When both spouses die, the trust property passes to the remainder beneficiaries named in the trust agreement.
- The assets held within the trust bypass the probate process.
- The trust deed is governed by Canadian tax laws and is intended to be used only within Canada.
- Available in MS Word format.
$14.99
Ontario Forms to Establish Family Trust
Set up a family trust as part of your tax planning strategy with this package of forms for Ontario.
- The package contains the following forms:
- Irrevocable Trust Agreement,
- Consent of Proposed Trustee, which must be signed by each of the designated trustees,
- Resolutions of the Trustees establishing the trust,
- Receipt for the initial trust property,
- Promissory Note,
- Register of Trustees.
- The trust will be an irrevocable discretionary trust.
- The division date will be the first to occur of (i) the date of the principal or (ii) the day before the 21st anniversary of the execution date of the trust agreement.
- The agreement provides for the incapacity of a trustee or a beneficiary.
- The settlor will derive no income or capital or other benefit from the trust.
- The settlor cannot act as a trustee.
- The settlor cannot revoke the trust.
- For the purposes of the Income Tax Act, the trust can only be resident in Canada.
- The trustees will be indemnified and held harmless against claims, losses and damages in connection with their acting as trustees. The indemnities and protections afforded to any trustee under the agreement will continue to run even if the trustee ceases to hold the position of trustee.
- No distributions of capital or income shall be made at any time that there are less than two trustees in office.
- Available in MS Word format, fully editable.
- Intended to be used only in the Province of Ontario, Canada.
$59.99
Prepaid Funeral Deposit Agreement
Prepare a Prepaid Funeral Deposit Agreement with this customizable template.
- The parties are (i) a provider of funeral services (such as a funeral home) and (ii) a financial institution which will act as trustee and will hold and administer deposits paid by customers of the funeral service provider who wish to pre-arrange and prepay for funeral services.
- The trustee will prepare monthly statements and provide records of all deposits received.
- The trustee has no fiduciary duty to customers of the funeral service provider.
- The trust funds may be assigned to a third party in the event of a sale or transfer of the business.
- The trustee is responsible for providing tax information as required.
- The trustee is indemnified by the funeral home.
$17.99
Receipt for Trust Assets and Discharge of Trustee | USA
Terminate a trust and discharge the trustee with this Receipt for Trust Assets and Discharge of Trustee form for the USA.
- The beneficiaries of the trust must sign the form.
- The receipt portion of the form states that all of the trust property has been distributed to the beneficiaries.
- The trustee is discharged from his/her duties as trustee following the distribution.
- The form is available in MS Word format.
- Intended to be used only for trusts established in the United States.
$2.49
