Revocable Living Trust Agreement Template Page 7
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18unwilling to act as Successor Trustee, xxxxxx xxxxxx of xxxxx is hereby nominated and appointed
as Successor Trustee.
7.2
If no Successor Trustee is able and willing to act as successor trustee, then any of the nominated
Successor Trustees may appoint a replacement successor trustee to serve as Successor Trustee
hereunder provided that such appointment is made in writing, signed by the Successor Trustee
making the appointment, notarized and forwarded to each of the named Beneficiaries. In the
event that no Successor Trustee is willing and able to make such an appointment or in the event
the Successor Trustee fails to secure the appointment of a new Successor Trustee and notify the
Beneficiaries of such appointment within 7 days of the declining Successor Trustee's written
refusal to act, then the next Successor Trustee shall be chosen by a majority in interest of the
then living Beneficiaries, with a parent or guardian voting for each minor Beneficiary.
7.3
The clause has been deleted from this section for the sample review.
7.4
The clause has been deleted from this section for the sample review.
7.5
The clause has been deleted from this section for the sample review.
7.6
The Trustee and each Successor Trustee named herein (including any alternate named herein)
shall serve without bond. A resigning Successor Trustee may require a bond to be posted by any
other incoming Successor Trustee, the cost of such bond being payable from the Trust Estate.
The Successor Trustee shall not be liable for any mistake or error of judgment in the
administration of the Trust, except for wilful misconduct, so long as they continue to exercise their
duties and powers in a fiduciary capacity primarily in the interests of the Beneficiaries.
8.
REVOCATION AND AMENDMENT
8.1
The Grantor shall have the irrevocable right to and may by instrument in writing signed by the
Grantor and delivered to the Trustee, revoke, modify or alter this Agreement, in whole or in part,
without the consent of the Trustee or any Beneficiary. Save as may otherwise be provided herein,
the Trust shall not be amended, modified, revoked or terminated in any other way.
9.
ADMINISTRATIVE PROVISIONS
9.1
The Trustee may at his absolute discretion, but shall not be obliged to, render an accounting at
Page 6
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