Letter to Client: Outline Revocable Trust with Separate Share Trusts for Children for Single Individual (New Jersey)

This legal template is a letter that outlines the creation and benefits of a revocable trust with separate share trusts for children, specifically designed for a single individual living in the state of New Jersey, under the jurisdiction of USA law.

A revocable trust is a legal arrangement that allows an individual, also known as the trustor or grantor, to transfer their assets into a trust while maintaining control and ownership during their lifetime. This type of trust can be amended or revoked by the trustor at any time, providing a flexible estate planning tool.

In this letter, the attorney or legal professional is addressing their client, who is likely interested in establishing a revocable trust that includes separate share trusts for their children. A separate share trust is a sub-trust created within the revocable trust, allowing for the distribution of assets to specific beneficiaries, in this case, the client's children. By utilizing separate share trusts, the client can ensure that each child's share is protected and distributed according to their specific needs and circumstances.

As the letter is tailored to the requirements of an individual residing in New Jersey, it will reference specific legal statutes and regulations applicable to that jurisdiction. It may include information regarding state-specific tax implications, trust administration procedures, and any other essential legal considerations related to the creation and management of the revocable trust with separate share trusts.

Overall, this legal template serves as a comprehensive guide for the client, providing them with an overview of the revocable trust structure, the benefits it offers, and how it can be customized to meet their specific intentions and wishes for the distribution of assets to their children.