Revocable Trust for Single Individual: Pot Trust for Children (New Jersey)

This legal template likely pertains to a revocable trust specifically designed for a single individual residing in the state of New Jersey. The trust primarily focuses on providing for the individual's children and is structured as a "pot trust". A pot trust is a type of trust where the assets are pooled together, and the trustee is given the discretion to distribute them among the beneficiaries as they see fit. In this case, the beneficiaries would be the children of the person creating the trust. The intention behind such a trust may be to safeguard assets for the children's benefit, protect their financial interests, and potentially mitigate taxation or probate issues.