Revocable Living Trust Agreement Template Page 6
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18trustee shall in his/her sole and absolute discretion deem fit;
(viii) to determine in a fair and reasonable manner whether any part of the Trust Estate, or any
addition or increment thereto be income or principal, or whether any cost, charge, expense,
tax, or assessment shall be charged against income or principal, or partially against income
and partially against principal;
(x)
The clause has been deleted from this section for the sample review.
(xi)
to consent to the reorganization, consolidation, merger, liquidation, readjustment of, or
other change in any corporation, company, or association and to execute such documents
and do all such acts and things as may reasonably be required to effect same;
(xii)
to engage in business with the Trust Estate property as sole proprietor, or as a general or
limited partner, with all the powers customarily exercised by an individual so engaged in
business, and to hold an undivided interest in any property as tenant in common or as
tenant in partnership, to the extent permitted by law; and to enter into such agreements and
contracts as the trustee may deem necessary to regulate such businesses;
(xiii)
The clause has been deleted from this section for the sample review.
(xiv)
The clause has been deleted from this section for the sample review.
(xv)
to act through an agent or attorney-in-fact, by and under a power of attorney duly executed
by the trustee to the extent permitted by law, in carrying out any of the authorized powers
and duties; and
(xvi)
The clause has been deleted from this section for the sample review.
6.2
The clause has been deleted from this section for the sample review.
6.3
Notwithstanding anything contained herein to the contrary, no powers enumerated or accorded to
trustees generally pursuant to law shall be construed to enable the Grantor, or the Trustee or
either of them, or any other person, to sell, purchase, exchange, or otherwise deal with or dispose
of all or any part of the corpus or income of the trusts for less than an adequate consideration in
money or moneys worth, or to enable the Grantor to borrow all or any part of the corpus or income
of the trusts, directly or indirectly, without adequate interest or security.
7.
SUCCESSOR TRUSTEE
7.1
In the event of the death or during any period of incapacity of the Trustee, xxxxx xxxxx of xxxx is
hereby nominated and appointed as Successor Trustee. In the event xxxxx xxxxx is unable or
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