What is a trust agreement?

A trust agreement is a legal document that is used to create a trust in the state of New Hampshire. This document is the formal agreement between the trustee (the person who holds the property) and the beneficiary (the person who will receive the benefits from the property). The trust agreement includes the terms and conditions of the trust, such as how the property will be managed, how it will be distributed, and who will receive the benefits. The trust agreement is very important as it outlines the roles and responsibilities of both the trustee and the beneficiary. It also outlines the conditions of the trust, including any restrictions or provisions that must be followed. The trustee is responsible for managing the trust property according to the terms of the trust, and is legally obligated to act in the best interests of the beneficiary. The trust agreement is also used to appoint a trustee, if necessary. In addition, it can be used to set up a trust as an irrevocable trust, meaning that the terms of the trust cannot be modified without the permission of all parties involved. Finally, the trust agreement must be signed by both the trustee and the beneficiary in order for the trust to be legally valid. It’s important to make sure that the trust agreement you sign is legally binding and up-to-date in order to protect the interests of both the trustee and the beneficiary.

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