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Trust Law Wikipedia. The trustees agree to hold certain property contributed to this trust by the settlors and administer the property in the manner set forth in this agreement. Distribution of trust property upon my death. If you mean for members of your family to succeed the ownership of your assets, or another buyer to get it at the right price, your. Creating a professional living trust agreement is not easy, but it's possible. Distributions to beneficiaries under legal age. A trust is a legal agreement by three parties that allows you as the trustor to transfer your property and assets to your beneficiaries. Separate trusts for sample children. Report sample family trust agreement. 12.2 any successor trustee shall pay such portion of the income and principal of the trust for the benefit of any beneficiary as the successor trustee, in its discretion, shall deem advisable for that. The trust instrument is called a trust agreement because someone other than the grantor is serving as trustee.
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