Revocable Trust For Individual with Partner: Trust For Partner

This legal template is a document that establishes a revocable trust for an individual who wishes to create a trust specifically for their partner.

A revocable trust is a legal arrangement that allows the creator (referred to as the grantor) to maintain control over the assets and property included in the trust during their lifetime. The trust becomes irrevocable upon the grantor's death.

In this case, the template is tailored to individuals who have a partner with whom they wish to create a trust. The purpose of the trust could vary, but some common objectives could include providing financial support and security for the partner after the grantor's death, ensuring the partner has access to certain assets or properties, or managing jointly-owned assets during the grantor's lifetime.

The template will likely include essential elements, such as the identification of the grantor and partner, the description of the assets to be included in the trust, the terms and conditions of distribution or management of assets, and the appointment of trustees who will be responsible for administering the trust according to the grantor's wishes.

The trust may also specify any restrictions or provisions regarding the partner's rights to the assets, such as determining the duration of the partner's access to the trust's income or principal.

Additionally, the template may include clauses addressing circumstances such as the dissolution of the partnership or the appointment of successor beneficiaries in the event of the partner's death or incapacity.

Overall, this legal template provides individuals with the framework to establish a revocable trust that caters specifically to their partner's needs, ensuring that their partner is provided for and that their assets are managed according to their intentions.