Revocable Trust

Preparation Questionnaire

1. It is revocable, which means it can be amended or terminated by a trustmaker at any time before the death or incapacity of the trustmaker.

2. The person or married couple named in this questionnaire as trustmakers are the creators (aka grantors or settlors) of the trust.

3. A beneficiary is the person, trust or entity for whom the trustee(s) hold title to trust assets and manage those assets for the "benefit" of the beneficiary. If two people are named as current beneficiaries they must be married to each other.

4. If one person is the beneficiary, that person will be the sole beneficiary while he or she is alive. If the current beneficiaries are a married couple, then they will be co-beneficiaries. If a co-beneficiary were to die, the other co-beneficiary would become the sole beneficiary.

5. The initial trustee or trustees have control over all assets owned by the trust.

6. On the death of current beneficiary or both co-beneficiaries the successor trustee or co-trustees is/are directed to distribute all of the assets held in the trust at that time to the future beneficiary or beneficiaries you designated in this questionnaire.

7. You may add additional assets to the trust.

8. Because the trust is a revocable trust, the trust does not need a separate federal identification number (EIN) from the IRS. If you want to open a bank account in the name of the trust, give the bank a copy of your certification of trust agreement and your SSAN. All income and expenses of the trust each year will be reported on your federal income tax return.

The Trust is not intended to do and does not do any of the following:

A. Provide asset protection for any beneficiary.

B. Allow for assets to be held in trust other than for a short period of time after the death of a sole initial beneficiary or the death of the surviving beneficiary if there are two initial beneficiaries.

C. Hold the assets in trust for future beneficiaries who are children of the trustmaker(s) until the children reach a specified age.

D. Contain standby provisions that would cause the trust to become a special needs trust if a beneficiary is a special need person.

E. Reduce or eliminate any federal or state estate or inheritance taxes on the death of a trustmaker.

If you want a trust that accomplishes any of the purposes listed in A - E, do not use my Trust, but hire us to prepare our comprehensive estate planning trust instead. I can prepare such a trust, but it costs more and would require you to sign an engagement letter.