Terms to Consider in Drafting
As we work with trust documents from many states, we are often asked for help with provisions for trust documents that conform to our administration requirements. We can offer help in this regard. Below is a list of sample provisions we that may be of use in document preparation.
DISCLAIMER: The following information is provided for the benefit of attorneys with the understanding that Santa Fe Trust Inc., does not draft trust documents and is not engaged in rendering legal, accounting and other tax consulting services of any kind. If legal advice or other expert assistance is required, the services of a competent attorney or other advisor should be sought.
APPOINTING SFT AS TRUSTEE
SAMPLE PROVISION
This Trust Agreement dated as of the __________ day of _______________ 20___, by and between (GRANTOR’S NAME) and (SECOND GRANTOR’S NAME IF SO), residing at (GRANTOR’S ADDRESS) (hereinafter, the "Grantor(s)"), and SANTA FE TRUST, INC., a trust company chartered under the laws of the State of New Mexico (hereinafter, the "Trustee"), P.O. Box 22790 Santa Fe, New Mexico 87502-2790.
APPOINTING SFT AS CO-TRUSTEE WITH AN INDIVIDUAL
SAMPLE PROVISION
This Trust Agreement dated as of the __________ day of _______________ 20___, by and between (GRANTOR’S NAME) and (SECOND GRANTOR’S NAME IF SO), residing at (GRANTOR’S ADDRESS) (hereinafter, the "Grantor(s)"), and (INDIVIDUAL’S NAME[S]) and SANTA FE TRUST, INC., a trust company chartered under the laws of the State of New Mexico (hereinafter, the "Co-Trustees"), P.O. Box 22790 Santa Fe, New Mexico 87502.
APPOINTING SANTA FE TRUST AS SUCCESSOR TRUSTEE
SAMPLE PROVISION
If, while serving as Trustee, the Grantor dies, becomes incapacitated, or is otherwise unwilling or unable to act as Trustee, SANTA FE TRUST, INC., a trust company chartered under the laws of the State of New Mexico, P.O. Box 22790 Santa Fe, New Mexico 87502-2790, or any corporation that is a successor thereto by merger, consolidation, transfer of assets, or any other manner provided by law, thereafter shall be sole Trustee, with full power to continue the trust administration.
DELEGATION OF INVESTMENT POWERS
SAMPLE PROVISION
Notwithstanding any other provisions of this document, the Trustee may enter into contracts with one or more individuals, firms, associations and/or corporations, in such form as the Trustee, in the Trustee’s sole and absolute discretion, shall determine, including, but not limited to, contracts for the furnishing of investment advisory services and contracts establishing discretionary account granting to such individuals, firms, associations and/or corporations the authority to purchase, sell and otherwise deal in securities and to exercise all of the powers granted to them under the terms of this Trust with respect to the investment of the assets of all or any portion of the Trust(s) hereunder. The Grantor/Trustor requests that the Trustee first consider _______________________ as the designated Investment Manager for the Trust(s) established by this document. The Grantor/Trustor has worked with the above referenced Investment Manager for a number of years and feels that said Investment Manager would provide sound investment management for the Trust. The Grantor/Trustor understands that the Trustee has full and final authority on the delegation of investment powers.