Declaration Of Life Insurance Trust Form (Page 2 of 4) in pdf

Declaration Of Life Insurance Trust Form Page 2

VI.

This Life Insurance Trust shall be irrevocable and UN-amendable. I am aware of the

consequences of establishing an irrevocable trust and hereby affirm that the trust created by this

agreement shall be irrevocable by me or any other person, it being my intention to make to the

beneficiary/beneficiaries named herein an absolute gift of the Life Insurance policies described in

paragraph I above.

VII.

This agreement and the trust created hereby shall be administered, managed, governed

and regulated in all respects according to applicable statutes of the State of _____(8)_____.

VIII.

The Trustee, in addition to all other powers granted by this agreement and by law, shall

have the following additional powers with respect to the trust, to be exercised from time to time at

the Trustee's discretion:

Management of the Trust

To invest and reinvest, lease, rent, mortgage, insure, repair, improve or sell any of the

real and personal property of the trust as he may deem advisable.

Mortgages, Pledges and Deeds of Trust

To enforce any all mortgages, pledges and deeds of trust held by the trust and to

purchase at any sale thereunder any such real estate or personal property subject to any

mortgage, pledge of deed or trust.

Litigation

To initiate or defend, at his discretion, any litigation affecting the trust.

Attorneys, Advisors and Agents

To employ and pay from the trust reasonable compensation to such attorneys,

accountants, brokers, and investment., tax and other advisors as he shall deem advisable.

Adjust of Claims

To submit to arbitration, to compromise or to release or otherwise adjust with or without

compensation, any and all claims affecting the trust estate.

IX.

No bond for the faithful performance of duties shall be required of any Trustee appointed

under this agreement.

The trustee shall receive reasonable compensation for the services performed by him,

but such compensation shall not exceed the amount customarily received by corporate fiduciaries

in the area for like services.

XI.

Declaration Of Life Insurance Trust Form Page 2