Trust Template

September 23, 2022•1,040 words

The _____ Trust

Declaration of Trust

  • I. Trust Name
    • This trust shall be known as The _____ Trust. It is a REVOCABLE trust created on July 26th, 2022.
  • II. Trust Property
    • (A) Property Placed in Trust
      • [NAME], the Settlor, declares that he has set aside and holds in The _____ Trust all of his interest in that property described in the attached Schedule A. The trust property shall be used for the benefit of the trust Beneficiaries and shall be administered and distributed by the Trustee in accordance with this Declaration of Trust.
    • (B) Additional or After-Acquired Property
      • The Settlor may add property to the trust at any time.
  • III. Reserved Powers of Settlor
    • (A) Amendment or Revocation
      • The Settlor reserves the power to amend or revoke this trust at any time during his lifetime, without notifying any Beneficiary.
    • (B) Rights to Trust Property
      • Until the death of the Settlor, all rights to all income, profits, and control of the trust property shall be retained by the Settlor.
    • (C) Settlor's Death
      • After the death of the Settlor, this trust becomes irrevocable. It may not be altered or amended in any respect, and may not be terminated except through distributions permitted by this Declaration of Trust.
  • IV. Trustees
    • (A) Original Trustees
      • The Trustees of The _____ Trust shall be
        • [SETTLOR or TRUSTEE NAME] of [City, County, State] Date of Birth [Date]
        • [TRUSTEE NAME] of [City, County, State] Date of Birth [Date]
        • [TRUSTEE NAME] of [City, County, State] Date of Birth [Date]
        • [TRUSTEE NAME] of [City, County, State] Date of Birth [Date]
        • [TRUSTEE NAME] of [City, County, State] Date of Birth [Date]
      • A minimum quorum of three of these individuals is required to move the property in Schedule A, enforced by the rules of the Bitcoin network for a 3-of-5 multisig wallet.
    • (B) Successor Trustee
      • Upon the death of the [TRUSTEE NAME], or his incapacity, he is deceased or unable to serve or continue serving as successor trustee, the successor trustee shall be [OTHER TRUSTEE NAME].
    • (C) Trustee's Responsibility
      • The Trustee shall serve as Trustee of all trusts created under this Declaration of Trust. Each individual shall be given a unique private key, which is to be kept securely and privately, defined by their best judgment. Any individual that accepts a private key, in software or hardware form, accepts the responsibility of a Trustee.
    • (D) Terminology
      • In this Declaration of Trust, the term "Trustee" includes any quorum of three individual Trustees or successor Trustees.
    • (E) Bond Waived
      • No bond shall be required of any Trustee.
    • (F) Compensation
      • No Trustee shall receive any compensation for serving as Trustee.
    • (G) Liability of Trustee
      • With respect to the exercise or non-exercise of discretionary powers granted by this Declaration of Trust, the Trustee shall not be liable for actions taken in good faith.
  • V. Beneficiaries
    • Upon the death of the Settlor, the property of The _____ Trust shall be distributed to the beneficiaries named in this section.
    • (A) Primary Beneficiary
      • [BENEFICIARY 1] shall be given all [SETTLOR NAME]'s interest in the property listed on Schedule A. If [BENEFICIARY 1] does not survive the Settlor by thirty (30) days, that property shall be given to the alternative beneficiaries.
    • (B) Alternative Beneficiary
      • The following property shall be given to the identified alternative beneficiaries ONLY if [BENEFICIARY 1] does not survive the Settlor by thirty (30) days.
      • [ALT BENEFICIARY 1] and [ALT BENEFICIARY 2] shall be given all financial accounts and assets listed in Schedule A in the following shares:
        • [ALT BENEFICIARY 1] 50%
        • [ALT BENEFICIARY 2] 50%
      • If any alternative beneficiaries do not survive the Settlor by thirty (30) days, those shares shall go to the remaining alternative beneficiaries, in equal shares.
  • VI. Distribution of Trust Property Upon Death of Settlor
    • Upon the death of the Settlor, the Trustee shall distribute the trust property outright to the beneficiaries named in Section V, Paragraphs (A) and (B).
  • VII. Trustee's Powers and Duties
    • (A) Powers Under State Law
      • To carry out the provisions of The _____ Trust, the Trustee shall have all authority and powers allowed or conferred on a Trustee under California law, subject to the Trustee's fiduciary duty to the Settlor and the beneficiaries.
    • (B) Specified Powers
      • The Trustee's powers include, but are not limited to:
        • The power to employ and pay reasonable fees to accountants, lawyers, or investment experts for the information or advice relating to the trust.
        • The power to institute or defend legal actions concerning the trust or Settlor's affairs.
    • (C) Payment by Trustee of the Settlor's Debts and Taxes
      • The Settlor's debts and death taxes shall be paid by the Trustee however the Trustee deems appropriate.
  • VIII. General Administrative Provisions.
    • (A) Controlling Law
      • The validity of The _____ Trust shall be governed by the laws of California.
    • (B) Severability
      • If any provision of this Declaration of Trust is ruled unenforceable, the remaining provisions shall nevertheless remain in effect.
    • (C) Amendments
      • The term "Declaration of Trust" includes any provisions added by amendments.
    • (D) Accountings
      • No accountings or reports shall be required of the Trustee.

Certification by Settlor

I certify that I have read this Declaration of Trust for The _____ Trust, created July 26th, 2022 and that it correctly states the terms and conditions under which the trust property is to be held, managed, and disposed of by the trustee, and I approve the Declaration of Trust. This document was digitally signed via OpenPGP protocol, fingerprint [FINGERPRINT DATA]. The full public key can be found at [URL 1] and [URL 2]. An OpenTimestamps proof may be included to prove the age of the signature.

Dated: July 26th, 2022
Settlor- [NAME]

Schedule A

All of the Settlor's interest in the following property:

All of the Bitcoin in the walllet with the following descriptor information [EXAMPLE DO NOT USE]

wpkh([453fd41a/84h/0h/0h]xpub6CBHbR4dBCm135Rnnzfp6UCrEeuz59Q9P9oDrMp6DRuSjRoa7uF7Ur6bdrCZhY1aMXzq5974Lz37oyC8cTqqeJwxgiMS5RCfcUUmqmrv3hL/[0;1]/*)#a6h2xx98

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[PGP DATA]

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