What Is A Short Form Trust Agreement

The depositor hereby confirms the appointment of the owner trustee as trustee of the trust, effective from the date of the abridged trust agreement. Life insurance. For life insurance on your life, you need to decide if you want to change the owner of a life insurance policy and also the beneficiaries. The designation of the beneficiary on a life insurance policy determines who receives the insurance proceeds upon your death. If you want this proceeds to be paid into the trust, the successor trustees must be the beneficiary of the death (e.g., B John Doe as successor trustee of the Bob Smith Revocable Living Trust). If you have life insurance and want to give the trustee the option to borrow against the policy or waive it before you die, the ownership of the policy should be changed.

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