Trust Agreement

A Trust Agreement is a legal document that creates a trust and specifies the terms and conditions under which the trust will be managed and distributed. The document typically names a trustee to manage the trust assets and beneficiaries to receive the assets. The Trust Agreement can be revocable or irrevocable, depending on the grantor’s wishes and tax planning goals. The document can also include provisions for the distribution of assets during the grantor’s lifetime, the creation of subtrusts for specific purposes, and the appointment of successor trustees. The Trust Agreement is an important tool for managing and protecting assets, minimizing taxes, and ensuring that assets are distributed according to the grantor’s wishes.