Revocable Trust for Single Individual: Pot Trust for Children (Illinois)

This legal template is a document specifically designed for single individuals residing in the state of Illinois who wish to establish a revocable trust for the purpose of managing their assets and ensuring the proper distribution of those assets to their children. The trust in question is commonly referred to as a "Pot Trust," which allows for the pooled distribution of assets to multiple beneficiaries, in this case, the children of the individual. By creating a revocable trust, the individual maintains control over their assets during their lifetime and has the flexibility to make changes or revoke the trust if circumstances require. This template provides the necessary legal framework to establish such a trust, ensuring that the individual's wishes and intentions are clearly documented, and their assets are managed and distributed according to their specifications in compliance with the applicable laws and regulations of the state of Illinois.