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                                                     Declaration of Irrevocable Trust
 



This Declaration of Irrevocable Trust is made this __ day of ________________, 20__, by and between ______________, of _________________________, hereinafter called the Trustor, and ____________________, of __________________________, hereinafter called the Trustee.

   I

The Trustor hereby irrevocably assigns, conveys and gives to the Trustee, in trust, the following property:

(Description of Property)



   II

The Trustee shall receive and hold said property, together with any additions thereto, in trust for the use and benefit of:



   III

This trust shall be irrevocable and unamendable. I am aware of the consequences of establishing an irrevocable trust and hereby affirm that the trust created by this agreement shall be irrevocable by me or by any other person, it being my intention to make to the beneficiary/beneficiaries named herein an absolute gift of the property described in paragraph ONE, above.


   IV

This agreement and the trust created hereby shall be administered, managed, governed and regulated in all respects according to applicable statutes of the State of ____________. .



   V

The Trustee, in addition to all other powers granted by this agreement and by law, shall have the following additional powers with respect to the trust, to be exercised from time to time at the Trustee's discretion:


Management of the Trust

To invest and reinvest, lease, rent, mortgage, insure, repair, improve or sell any of the real and personal property of the trust as he may deem advisable.



Business Interests

To sell or otherwise liquidate, or to continue to operate at his discretion, any corporation, partnership or other business interest which may be received by the trust.



Mortgages, Pledges and Deeds of Trust

To enforce any and all mortgages, pledges and deeds of trust held by the trust and to purchase at any sale thereunder any such real estate or personal property subject to any mortgage, pledge or deed of trust.


 

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