DECLARATION OF TRUST
This DECLARATION OF TRUST (this “Declaration”) is made and executed on the ________________________ for the estate of _________________________. The grantor appoints __________________________________ as the Trustee of the estate and both of them legally agree to be bound as follows:
- Appointment of Trustee. _____________________ will be the initial trustee of the Trust, with all of the rights, privileges and responsibilities set forth herein. If at any time the initial trustee resigns or cannot serve due to death, disability or incapacity, _______________________ will be successor trustee of the Trist and each sub trust of the Trust, if any. The Trustee will hold the Grantor’s property in trust until the Grantor’s children become 18 years old.
- Responsibilities of the Trustee. The Trustee under this Declaration will have all powers necessary and appropriate to administer the Trust, including powers granted under the Republic of Ireland law. The trustee may exercise all powers without the approval or supervision of any court, the Grantor, or any beneficiary. She shall: collect, hold, maintain, manage or administer the Trust Property as if the trustee were the absolute owner of it, sell, trade, deal or encumber, mortgage, pledge, option, lease, lend, or improve the Trust property; invest, reinvest, and make purchases with the income and principal of the Trust in very kind of property, asset and investment., borrow money from the Trust for trust purposes. Enter into contracts and otherwise execute any instruments on behalf of the Trust and other consequential responsibilities.
- Trust Property. All of the Grantor’s interest in the following property is transferred into the Trust: ______________________________
- Beneficiaries. Subject to the creation of any sub trusts, on death of the Grantor, the trustee shall allocate or distribute the remaining Trust property to the following beneficiaries, after the payment of any trust debts, funeral expenses, trust and estate administration expenses and estate taxes:
Beneficiary 1: Name: ________________________________________
Beneficiary 2: Name: ________________________________________
Beneficiary 3 Name: _________________________________________
- Governing Law. This Declaration will be construed and enforced in accordance with the laws of the Republic of Ireland.
- Execution. In witness whereof, the Parties execute this declaration as follows:
Grantor Name: _______________________ Signature: _________________ Date: _________
Trustee Name: _______________________ Signature: _________________ Date: _________
Witness Name: _______________________ Signature: _________________ Date: _________
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