Revocable Trust for Individual with Spouse or Partner: Separate Share Trusts for Children (IL) | Practical Law

Revocable Trust for Individual with Spouse or Partner: Separate Share Trusts for Children (IL) | Practical Law

A revocable trust agreement (also referred to as a trust instrument or declaration of trust) for an individual who is part of a married or unmarried couple and resides in Illinois. This revocable trust agreement provides for outright distribution of the trust assets to the surviving spouse or partner when the settlor dies or distribution in separate continuing trusts for surviving children or remote descendants if there is no surviving spouse or partner. This Standard Document has integrated notes with important explanations and drafting tips.

Revocable Trust for Individual with Spouse or Partner: Separate Share Trusts for Children (IL)

by Practical Law Trusts & Estates
MaintainedIllinois
A revocable trust agreement (also referred to as a trust instrument or declaration of trust) for an individual who is part of a married or unmarried couple and resides in Illinois. This revocable trust agreement provides for outright distribution of the trust assets to the surviving spouse or partner when the settlor dies or distribution in separate continuing trusts for surviving children or remote descendants if there is no surviving spouse or partner. This Standard Document has integrated notes with important explanations and drafting tips.