Revocable Trust for Single Individual: Separate Share Trusts for Children (IL) | Practical Law

Revocable Trust for Single Individual: 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 unmarried individual who has children and resides in Illinois. This revocable trust agreement provides for a distribution of the trust assets in separate equal shares to the settlor's surviving children or more remote descendants when the settlor dies. The share of any beneficiary who has reached a certain age is distributed outright to that beneficiary, and the share of any beneficiary who has not reached that age is held in a separate continuing trust for that beneficiary. This Standard Document has integrated notes with important explanations and drafting tips.

Revocable Trust for Single Individual: Separate Share Trusts for Children (IL)

Practical Law Standard Document w-002-6992 (Approx. 79 pages)

Revocable Trust for Single Individual: 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 unmarried individual who has children and resides in Illinois. This revocable trust agreement provides for a distribution of the trust assets in separate equal shares to the settlor's surviving children or more remote descendants when the settlor dies. The share of any beneficiary who has reached a certain age is distributed outright to that beneficiary, and the share of any beneficiary who has not reached that age is held in a separate continuing trust for that beneficiary. This Standard Document has integrated notes with important explanations and drafting tips.