Fill - Free fillable OHIO REVOCABLE LIVING TRUST Grantor (referred to as PDF form

Nothing herein shall be considered legal advice. You are encouraged to seek legal advice

from an attorney licensed to practice in your jurisdiction before using this form.

OHIO REVOCABLE LIVING TRUST

Pursuant to Title XXI Courts – Probate – Juvenile

This Revocable Trust is made this ______ day of __________________________, 20_____, by and be-

tween:

Grantor

______________________________________ with a mailing address of _____________________________________

(referred to as the “Grantor,”) and

Trustee

______________________________________ with a mailing address of _____________________________________

(referred to as the “Trustee,”)

The Trustee agrees to hold any property transferred to this Trust from whatever source in

trust upon the following terms:

Article 1. Name of the Trust: This Trust shall be known as the

“____________________________ REVOCABLE LIVING TRUST.”

Article 2. Transfer of Property: On the date set forth above, the Grantor transferred to the

Trust the property described on “Attachment A" which is attached and incorporated into this

Trust. The Grantor or someone acting on the Grantor’s behalf may transfer property, during

the life of the Grantor or by the Grantor’s Will, to the Trust and list such property on “At-

tachment A”. Attachment A is for reference only, and any property transferred to this Trust

formally or informally, but not listed on “Attachment A," is also part of the Trust. All proper-

ty transferred to the Trust formally or informally, together with the investments and rein-

vestments, as well as any income earned is sometimes collectively referred to herein as the

"Trust Estate." All property transferred to or deposited with the Trustee shall be held by it in

trust for the uses and purposes stated herein.

Article 3. Life of the Grantor: During the life of the Grantor, the Trustee shall hold, manage,

and administer the trust property and at the Grantor’s request, dispose of the net income

and principal. In the absence of any such request, the Trustee may pay to the benefit of the

Grantor any part of the net income and principal as the Trustee deems advisable, with full

power to accumulate any income not paid and to hold such income and property for later

use. In the event of the Grantor becomes incompetent, the Trustee is authorized to use any

part or all of the net income and principal for the benefit of the Grantor as the Trustee

deems advisable, with full power to accumulate any income not paid and to hold for future

use or to add to the principal.

Article 4. Death of the Grantor: Upon the death of the Grantor, except as otherwise set forth

below, the Trustee shall hold, administer and dispose of the Trust Estate as follows:

Nothing herein shall be considered legal advice. You are encouraged to seek legal advice

from an attorney licensed to practice in your jurisdiction before using this form.

A. The trustee shall divide the principal and any undistributed income into equal shares

to be distributed equally among the following beneficiaries:

Name ______________________________________ Address ______________________________________

B. Failure of All Beneficiaries: In the event of the failure of all beneficiaries, then the

Trustee shall pay and transfer the Trust Estate, discharged of this Trust, to the person or

persons who would be entitled to inherit from (name of Grantor) under the laws of the

State of Ohio, had (he/she) then died unmarried, intestate and domiciled in that State,

and possessed only of the property to be distributed.

C. Distribution to Any Person Who is Under the Age of 21: If distribution is to be made to

any person who is under eighteen (18) years of age and who is not then a beneficiary of

any portion of the trust property under any provision of this Trust, the Trustee may

make the distribution free of all trusts to the minor, to a parent of the minor for the mi-

nor’s benefit, or to a custodian designated by the Trustee for the minor, and that distri-

bution shall represent a complete discharge of the Trustee.

Article 5. Payment of Death Taxes, Administration Expenses, Etc.:

Upon the death of the Grantor, the following shall be applicable:

1. The Trustee shall pay all or any portion of any of the funeral expenses, expenses of

administration, debts, taxes (including estate, inheritance or similar taxes arising by

reason of the Grantor’s death), interest, penalties and legacies that the legal repre-

sentative of the Grantor’s estate may, in accordance with the Grantor’s Will, certify in

writing to the Trustee.

2. In the event the assets of the Grantor’s residuary probate estate shall be insuffi-

cient to pay for the Grantor’s funeral expenses, expenses of administration and all

Federal and State taxes in the nature of estate, inheritance or like taxes, such obliga-

tions shall be paid by the Trustee to the extent that they exceed said residuary pro-

bate estate assets.

3. In making any payments under this Article, the Trustee may rely on any certificate

of the legal representative of the Grantor’s estate as to the amount of said payment

and the person to whom it is to be paid.

Article 6. Estate of Grantor: Notwithstanding the instructions in Article 4 with respect to the

distribution of income and principal, the Trustee is authorized in its discretion to use the

income and principal of the Trust, from time to time as follows:

Nothing herein shall be considered legal advice. You are encouraged to seek legal advice

from an attorney licensed to practice in your jurisdiction before using this form.

A. To purchase and to retain as investments any securities or other property, real or per-

sonal, belonging to the estate of the Grantor.

B. To make loans or advances to the personal representative of the estate of the Grantor

on such reasonable terms as it deems advisable.

C. The Trustee is not obligated to see to the application of any funds paid over to the es-

tate of the Grantor.

Article 7. Trustee Powers: As an extension and not a limitation of all common law and statu-

tory authority, and except where in conflict with any other provision in this Trust, the Trus-

tee shall have the following powers and authority:

A. To accept and receive property, real or personal, from the Grantor, from the Grantor’s

estate or from any other estate, trust or person, and to hold the same as a part of the

Trust.

B. To collect income, interest, dividends, rents and profits.

C. To retain any part or all of the property, real or personal, received to be held in trust

hereunder in the form of investments, and to invest and reinvest the property of the

Trust in any investments as the Trustee may deem proper without regard for the princi-

ples of diversification or whether any form of investment would ordinarily be considered

as suitable for a trustee to make or hold; and to retain any real estate or tangible personal

property received to be held in trust hereunder and/or to acquire any real property

and/or tangible personal property, permitting the beneficiaries to make such use thereof

as is advisable and commensurate with their beneficial interests, and to make repairs

and improvements and pay taxes, insurance premiums and other charges with respect

thereto as the Trustee may deem advisable.

D. To sell any real or personal property of the Trust at public or private sale for cash or on

credit or to exchange the same on terms as the Trustee may deem advisable; to lease any

real or personal property of the Trust at times and on terms as the Trustee may deem

advisable, whether or not the lease may extend beyond the term of any trust.

E. To borrow for the purposes of the Trust and to mortgage or pledge any real estate or

personal property as security for any such loans.

F. To foreclose by entry or otherwise, extend, assign or give partial releases of any mort-

gages, to discharge mortgages or liens on real or personal property.

G. To sign, seal, execute and deliver all proper and necessary conveyances and instruments

for the purposes of the Trust.

H. To grant options for the sale or exchange of any property.

Nothing herein shall be considered legal advice. You are encouraged to seek legal advice

from an attorney licensed to practice in your jurisdiction before using this form.

I. To vote in person or by proxy upon all stocks or other securities held and to exercise all

conversion, subscription, voting and other rights of whatever nature pertaining to the

property of the Trust and to pay any sums as may be deemed advisable in connection

therewith; and to exercise stock options.

J. To participate in any plan of reorganization, consolidation or merger, to deposit any

property of the Trust under any such plan or with any protective or reorganization

committee, to delegate to such committee discretionary power with respect thereto, to

pay a proportionate part of the expenses of the committee and any assessments levied

under any plan and to accept and retain new securities received in pursuance of any

plan.

K. To hold securities or any real or other personal property in the name of a nominee or

nominees, or in any other form.

L. To employ legal counsel, investment counsel and agents, to decide whether or not to act

upon their recommendations and to pay to them reasonable compensation from the

Trust Estate.

M. To take any proceedings at law or in equity with reference to or in any matter concerning

the Trust and to represent the interests of the Trust in any proceedings, with power to

compromise or refer to arbitration any dispute in any way affecting the same.

N. To take steps and to do any acts which may be deemed necessary or proper for the due

care and management of the Trust.

O. to value all property to be divided or distributed at then current fair market values, and,

in the Trustee’s discretion, to convert all or any part of such property into money and to

make division or distribution thereof in kind or in money

P. To refuse to accept property as a trust asset if such property could result in liability to

this Trust or otherwise impair the value of any Trust property.

Q. To place any portion or all of the trust funds in any custodial or agency account or other

similar account administered by a banking institution or trust company and to rely upon

their investment decisions, such not constituting an unauthorized delegation of the Trus-

tee’s duties; provided that this paragraph shall not be applicable if the Trustee is a cor-

porate Trustee.

R. To have dealings between or among separate trusts or trust shares hereunder, including

the purchase, sale or exchange of assets, or the borrowing or lending of money, on such

reasonable terms as may be appropriate in the circumstances.

S. To open and maintain checking or savings accounts in any bank or banks and to desig-

nate any one or more persons to execute checks or make withdrawals therefrom.

Nothing herein shall be considered legal advice. You are encouraged to seek legal advice

from an attorney licensed to practice in your jurisdiction before using this form.

T. To make loans to any person or persons upon such reasonable terms as the Trustee may

determine, provided that no loan shall be made to any person who is also serving as a

Trustee hereunder.

Article 8. Payment of Premiums: The Trustee shall in no way be bound to pay the premiums

or other charges on any policy payable hereunder, nor to see that any such policy is kept in

force, but shall use its best efforts to collect any sum payable thereunder whenever by the

terms of such policy or policies, the same shall be payable to the Trustee and it shall have

knowledge thereof.

Article 9. Distributions by Trustee; Limitation on Exercise of Special Power of Appointment:

The Trustee is authorized to make payments of principal or income directly to and other-

wise to deal with minors as though of full age or to make such payments for the benefit of

such minor, or to the parent or person having custody of the minor for his or her use, all as

the Trustee may designate. No grantee or holder of any special power of appointment grant-

ed under this Trust shall have the right or power to exercise such special power in any

manner that can satisfy any legal obligation of such grantee, or holder, including, but not lim-

ited to, any legal obligation of support.

Article 10. Accounting: Unless directed otherwise by an adult beneficiary of the Trust, the

Trustee may accept such amount of property distributed to it by the legal representative of

the Grantor’s estate as constituting all the property to which the Trustee is entitled under the

Grantor’s Will. The Trustee shall have no duty to review the administration of the Grantor’s

estate by such legal representative, unless the Trustee has actual affirmative knowledge of

any impropriety in such administration.

Article 11. Spendthrift Provisions: The interest of any beneficiary in any share or part of

this Trust, both principal and income, shall not be alienable, assignable, attachable, transfer-

able nor paid by way of anticipation, nor in compliance with any order, assignment or cove-

nant and shall not be applied to, or held liable for, any of his or her debts or obligations ei-

ther in law or equity and shall not in any event pass to his or her assignee or trustee under

any instrument nor under any insolvency or bankruptcy law, and shall not be subject to the

interference or control of creditors, spouses or others. Nothing contained in this Article shall

be construed as restricting in any way the exercise of any power of appointment granted

herein.

Article 12. Dealings With Third Parties: Any person, firm, corporation or entity dealing with

the Trustee may always, rely upon the Trustee, as being duly authorized hereunder in all

particulars; and no such person, firm, corporation or entity shall in any way be responsible

for the proper use or application of any property delivered, or any funds paid over or ad-

vanced, by any of them to the Trustee; and the receipt of the Trustee for any payment or ad-

vancement made to the Trustee, or for any property delivered to the Trustee, shall be a

complete discharge and acquittance to the extent specified in such receipt. Persons dealing

with the Trustee shall look only to the property administered by the Trustee for payment of

claims and not to the Trustee’s personal property.

Nothing herein shall be considered legal advice. You are encouraged to seek legal advice

from an attorney licensed to practice in your jurisdiction before using this form.

Article 13. Successor Trustees and Other Provisions Dealing With Trustees:

A. Successor Trustee: The Grantor appoints ______________________________________ with a

mailing address of ___________________________________________ as initial successor Trustee and

if he shall die or otherwise be unable to fulfill the duties herein, the Grantors appoint

______________________________________ with a mailing address of

___________________________________________ as second successor Trustee. In the event neither

is able to serve then, the person or persons holding the power to appoint may appoint a

corporate or individual trustee to serve as successor Trustee(s). If a beneficiary of this

Trust is to be appointed as Trustee, legal or tax counsel should first be consulted with re-

spect to any possible income, gift or estate tax consequences to such beneficiary under

then existing law. Notwithstanding the foregoing, as long as one Trustee is serving here-

under no vacancy shall be deemed to exist in the office of Trustee.

B. Appointment of Co-Trustee by an Individual Trustee: Any individual who is serving

as a Trustee may at any time appoint another person or a corporate Trustee to serve as

a co-Trustee but only during the period of time that such individual is serving as a Trus-

tee. The Trustee has the right to remove such co-Trustee from such office, with or with-

out cause, upon written notice thereof mailed or delivered to such appointed co-Trustee.

C. Removal or Incompetency: During the Grantor’s lifetime the Grantor shall have the

right to remove any Trustee. Should any Trustee hereunder become incompetent, as de-

termined pursuant to this Indenture or otherwise, such person shall cease to serve as

Trustee and the office of Trustee shall be deemed vacant if no other Trustee is then serv-

ing.

D. Resignation of Trustee: Any Trustee hereunder may resign by a notice in writing de-

livered to the Grantor, if the Grantor is then living, and, after the Grantor’s death, to all

current beneficiaries of this Trust.

E. Certified Copies and Certificate of Trustee or Attorney at Law: Anyone may rely upon

a copy hereof certified by a Notary Public to be a true copy of this instrument

F. Trustee’s Accountings: The Trustee, other than the Grantor-Trustee, may, and, upon

request of any beneficiary hereof, shall, render periodic accounts with respect to the

trusts hereunder to the person or persons then entitled to receive any income or princi-

pal from this Trust.

G. Bond: The Grantor directs that no Trustee hereunder be required to furnish bond, or

surety on any bond, for the performance of its duties as Trustee in any jurisdiction.

H. Successor Trustees or Co-Trustees: All rights, powers and exemptions reserved or

granted to the Trustee hereunder shall extend to any successor Trustee or co-Trustee.

No successor Trustee or co-Trustee shall succeed to such office until he/she/it accepts

such office in writing. Any successor Trustee or co-Trustee may accept, without exami-

nation or review, the accounts rendered and the property delivered by any predecessor

Trustee or present co-Trustee without liability. Each successor Trustee or co-Trustee has

Nothing herein shall be considered legal advice. You are encouraged to seek legal advice

from an attorney licensed to practice in your jurisdiction before using this form.

the same title, power and duties as the Trustee succeeded or, in the case of a co-Trustee,

the other then present Trustee, without any additional conveyance. Any reference to a

“Trustee” refers equally to any successor Trustee or co-Trustee.

I. Compensation of Trustee: Any individual Trustee serving hereunder shall be entitled to

be paid a reasonable fee from the Trust Estate, based on the amount of time expended by

such Trustee in carrying out his/her duties hereunder. Any corporate Trustee shall be

entitled to be paid a fee based upon its fee schedule from time to time published by it.

J. Liability of an Individual Trustee: No individual Trustee (as opposed to a corporate

Trustee) shall, with respect to the investment of trust property, be liable for any action

taken, or failure to act, unless such action, or failure to act, was done willfully and in bad

faith.

K. Corporate Trustee: The term “corporate Trustee” shall mean a Trustee which is a

banking institution or trust company regularly engaged in the business of trust admin-

istration in which no beneficiary has any controlling interest.

Article 14. Governing Law: This Trust is made and executed in the State of Ohio and is to be

governed and construed according to the laws of said State.

Article 15. Incompetency: A person, including a Trustee or Special Trustee, shall be deemed

incompetent for purposes of this Trust if a physician sets forth his or her opinion in writing

that such person is incapable of caring for his or her person or property.

Article 16. Gender References: Whenever the context permits, the use of a particular gender

shall include any other gender, and references to the singular or the plural shall be inter-

changeable.

Article 17. Power to Alter, Amend or Revoke: The Grantor reserves the right at any time or

times during the Grantor’s lifetime to amend, alter or revoke this Trust, in whole or in part,

or any provision thereof, by an instrument in writing signed by the Grantor and delivered to

the Trustee, provided that no such amendment or alteration shall in any manner increase

the duties and responsibilities of any then Trustee in office without such Trustee’s consent.

From and after the Grantor’s death this Trust shall be irrevocable and may not be altered,

amended or revoked.

ATTACHMENT A

Nothing herein shall be considered legal advice. You are encouraged to seek legal advice

from an attorney licensed to practice in your jurisdiction before using this form.

_________________________________________________________________________________________________________

WITNESS my hand and seal on the day first above written.

WITNESS

Signature ______________________________________ Printed Name ______________________________________

WITNESS

Signature ______________________________________ Printed Name ______________________________________

GRANTOR

Signature ______________________________________ Printed Name ______________________________________

______________________________________ hereby accepts the Trust hereinabove created upon the

terms set forth herein and agrees to act as Trustee thereunder.

TRUSTEE

Signature ______________________________________ Printed Name ______________________________________

STATE OF OHIO

County of ___________________

On this _________of ___________________, 20_____, personally appeared the above-named

______________________________________ and acknowledged the foregoing to be (his/her) free act

and deed, before me.

___________________________

Notary Public

My Commission Expires:

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