Irrevocable Trust Agreement

IRREVOCABLE TRUST AGREEMENT TEMPLATE

This Irrevocable Trust Agreement (“Agreement”) is made effective as of [Date], by and between:

Grantor (Settlor):
Name: [Full Legal Name]
Address: [Address]

Trustee:
Name: [Full Legal Name]
Address: [Address]

Beneficiaries:
[List names and relationships of beneficiaries]

The Grantor hereby establishes this irrevocable trust, transferring the property described herein to the Trustee, who shall manage it according to the terms set forth below.

1. Trust Property

The Trust shall include the following property:
[Describe assets, e.g., cash, securities, real estate, personal property, life insurance policies].

2. Irrevocability

This Trust is irrevocable. The Grantor expressly waives all rights to amend, modify, revoke, or terminate this Trust once executed, except as permitted by law.

3. Trustee Powers and Duties

The Trustee shall have the authority to manage, invest, reinvest, sell, and transfer trust assets in a prudent manner. The Trustee shall act solely in the best interests of the Beneficiaries, with duties including:

• Distributing income or principal as directed herein.

• Keeping accurate records and accounts.

• Filing tax returns on behalf of the Trust.

4. Beneficiary Rights

Beneficiaries are entitled to receive distributions as specified in this Agreement. Distributions may include income, principal, or both, depending on the Trust’s terms and the Trustee’s discretion where permitted.

5. Spendthrift Provision

No beneficiary may assign, pledge, or transfer their interest in the Trust, nor shall trust assets be subject to creditors’ claims until distributed.

6. Successor Trustee

If the original Trustee resigns, dies, or becomes incapacitated, [Name of Successor Trustee] shall serve as successor. If unavailable, a court of competent jurisdiction may appoint a replacement.

7. Accounting and Reports

The Trustee shall provide annual reports of trust activity to the beneficiaries, including income, expenses, and distributions.

8. Governing Law

This Agreement shall be governed by the laws of [State/Country].

9. Entire Agreement

This document contains the complete terms of the Irrevocable Trust and supersedes any prior oral or written understandings.

10. Signatures

Grantor (Settlor):
Signature: ________________________
Name:
Date:

Trustee:
Signature: ________________________
Name:
Date:

[Optional Attachments]

☐ Schedule A – List of Trust Assets
☐ Life Insurance Policy Assignment
☐ Additional Instructions or Amendments Permitted by Law