Oregon Certification of Trust

CERTIFICATION OF TRUST

Pursuant to ORS 130.860 (UTC 1013)

// GUIDANCE: This certification is authorized by the Oregon Uniform Trust Code, ORS 130.860. Under this statute, a person proposing to deal with a trustee may require that ALL trustees execute the certification. Plan accordingly when multiple co-trustees serve.

STATE OF OREGON

COUNTY OF [________________________________]

I. TRUST IDENTIFICATION

The undersigned Trustee(s), pursuant to ORS 130.860, hereby certify the following:

1. Existence of Trust:
A trust exists under the name set forth below, and said trust was validly created in accordance with ORS 130.200 (UTC 402).

2. Trust Name:
[________________________________]

3. Date of Original Trust Instrument Execution:
[__/__/____]

// GUIDANCE: ORS 130.860(2)(a) requires the certification to confirm the existence of the trust and the date the trust instrument was executed.

4. Date(s) of Any Amendment(s) or Restatement(s):
[________________________________]

5. Settlor(s) / Grantor(s):

6. Identifying Number:

// GUIDANCE: ORS 130.860(2)(f) specifically requires disclosure of the last four digits of the settlor's Social Security number OR the trust's employer identification number. This is a mandatory element in Oregon.

☐ Last four digits of the Settlor's Social Security Number: [____]

☐ Trust Employer Identification Number (EIN): [________________________________]

7. Trust Situs / Governing Law:
The trust is governed by the laws of the State of Oregon, including the Oregon Uniform Trust Code (ORS Chapter 130).

II. REVOCABILITY STATUS AND POWER TO MODIFY

8. Revocability of the Trust:

Pursuant to ORS 130.860(2)(b):

// GUIDANCE: ORS 130.860(2)(b) requires disclosure of the revocability or irrevocability of the trust AND the identity of any person holding a power to revoke. ORS 130.505 provides that, unless the trust instrument expressly states the trust is irrevocable, the settlor may revoke or amend the trust.

☐ Revocable. The trust is revocable. The following person(s) hold(s) the power to revoke the trust:

☐ Irrevocable. The trust is irrevocable and may not be revoked by any person.

☐ Became Irrevocable. The trust became irrevocable upon the following event:
[________________________________]

9. Power to Modify or Amend:

Pursuant to ORS 130.860(2)(c):

// GUIDANCE: ORS 130.860(2)(c) specifically requires disclosure of the existence or nonexistence of any power to modify or amend the trust, and the identity of any person holding such a power. This is a separate requirement from revocability.

☐ Power to Modify Exists. The following person(s) hold(s) the power to modify or amend the trust:

☐ No Power to Modify. No person holds a power to modify or amend the trust.

III. TRUSTEE IDENTIFICATION AND AUTHORITY

10. Currently Acting Trustee(s):

11. Co-Trustee Authority:

Pursuant to ORS 130.860(2)(d):

// GUIDANCE: ORS 130.860(2)(d) requires disclosure of the authority of cotrustees to sign or otherwise authenticate and whether all cotrustees or fewer than all are required to exercise powers. Under ORS 130.600 (UTC 703), co-trustees who are unable to act unanimously may act by majority decision.

☐ Sole Trustee. The trust has a single Trustee with full authority to act.

☐ Co-Trustees: All Required. All currently acting Trustees are required to sign or otherwise authenticate, and all must act jointly to exercise the powers of the Trustee.

☐ Co-Trustees: Majority Required. A majority of the currently acting Trustees may exercise the powers of the Trustee.

☐ Co-Trustees: Any One May Act. Any one Trustee may exercise the powers of the Trustee independently.

☐ Co-Trustees: Specific Allocation. The co-trustee authority is allocated as follows:
[________________________________]

IV. POWERS OF THE TRUSTEE

12. General Powers:

The Trustee(s) possess(es) the following powers, as granted by the trust instrument and as authorized by ORS 130.710 (UTC 816):

// GUIDANCE: Customize this list to reflect the actual powers granted. ORS 130.710 provides an extensive list of specific trustee powers. Only include powers that are actually granted by the trust instrument or by statute.

(a) To collect, hold, manage, and administer trust property;

(b) To acquire or dispose of property, real or personal, by purchase, sale, exchange, gift, or otherwise, and to execute deeds, contracts, bills of sale, and all other necessary instruments;

(c) To lease trust property for any term, including terms extending beyond the duration of the trust;

(d) To borrow money, with or without security, and to encumber trust property by mortgage, trust deed, pledge, or other lien;

(e) To deposit trust funds in any financial institution, including accounts in the name of the trust;

(f) To invest and reinvest trust property in accordance with the Oregon Uniform Prudent Investor Act (ORS 130.750 through 130.775);

(g) To participate in the operation of any business or enterprise and to effect incorporation, dissolution, or other organizational changes;

(h) To compromise, contest, arbitrate, or settle claims by or against the trust;

(i) To insure the property of the trust and the Trustee against damage, loss, and liability;

(j) To employ attorneys, accountants, investment advisors, and other professionals;

(k) To distribute trust income and principal in accordance with the terms of the trust;

(l) To make tax elections and file returns on behalf of the trust;

(m) To exercise stock rights, conversion privileges, and voting rights with respect to any securities held in trust; and

(n) To perform all acts necessary or appropriate for the proper management, investment, and distribution of the trust estate.

13. Restrictions on Trustee Powers:

☐ There are no restrictions on the Trustee's powers material to the pending transaction.

☐ The following restrictions apply:
[________________________________]

V. TRUST PROPERTY PROVISIONS

14. Manner of Taking Title:

Pursuant to ORS 130.860(2)(g):

// GUIDANCE: ORS 130.860(2)(g) requires disclosure of the manner of taking title to trust property. Oregon law generally requires title to be held in the name of the trustee(s) as trustee(s).

☐ In the name of the Trustee(s), as Trustee(s) of the [________________________________] Trust, dated [__/__/____].

☐ In the name of the Trust: [________________________________]

☐ Other: [________________________________]

15. Description of Property Subject to This Certification:

// GUIDANCE: For real property, include the full legal description and county. For Oregon real property, also consider the requirements of the Oregon recording statutes (ORS Chapter 205).

[________________________________]
[________________________________]
[________________________________]

VI. SUCCESSOR TRUSTEE PROVISIONS

16. Successor Trustee(s):

The trust instrument designates the following successor Trustee(s):

17. Method of Trustee Succession:

// GUIDANCE: Under ORS 130.595 (UTC 704), a vacancy in a trusteeship of a noncharitable trust must be filled if the trust has no remaining trustee. Describe the trust's succession mechanism.

[________________________________]
[________________________________]

VII. STATUTORY REPRESENTATIONS AND DISCLOSURES

18. Representations Pursuant to ORS 130.860:

The undersigned Trustee(s) hereby represent and certify that:

(a) The trust identified herein exists and the date of execution of the trust instrument is as stated above, pursuant to ORS 130.860(2)(a);

(b) The revocability or irrevocability of the trust is as stated herein, and all persons holding a power to revoke are identified, pursuant to ORS 130.860(2)(b);

(c) The existence or nonexistence of any power to modify or amend the trust is as stated herein, and all persons holding such power are identified, pursuant to ORS 130.860(2)(c);

(d) The co-trustee authority to sign or otherwise authenticate is as stated herein, pursuant to ORS 130.860(2)(d);

(e) The identifying number (last four digits of the Settlor's SSN or the trust's EIN) is as stated above, pursuant to ORS 130.860(2)(f);

(f) The manner of taking title to trust property is as stated herein, pursuant to ORS 130.860(2)(g);

(g) The trust has not been revoked, modified, or amended in any manner that would cause the representations contained in this Certification of Trust to be incorrect, as required by ORS 130.860(3);

(h) This Certification does not contain the dispositive terms of the trust, in accordance with ORS 130.860(4); and

(i) The undersigned are the currently acting Trustees of the trust.

19. Third-Party Reliance:

Pursuant to ORS 130.860(6), a person who acts in reliance upon this Certification of Trust without knowledge that the representations contained herein are incorrect is not liable to any person for so acting and may assume without inquiry the existence of the facts contained in this Certification.

20. Excerpts from Trust Instrument:

// GUIDANCE: Under ORS 130.860(5), a recipient may not require the entire trust instrument but may require the trustee to furnish copies of excerpts from the original trust instrument and later amendments that designate the trustee and confer upon the trustee the power to act in the pending transaction.

☐ Excerpts from the trust instrument are attached hereto as Exhibit A.

☐ No excerpts are attached. The recipient has not requested excerpts pursuant to ORS 130.860(5).

VIII. OREGON ESTATE TRANSFER TAX DISCLOSURE

// GUIDANCE: Oregon imposes its own estate transfer tax under ORS Chapter 118, with an exemption threshold significantly lower than the federal estate tax exemption. Practitioners should consider the impact on trust planning.

21. Estate Tax Considerations:

☐ The trust is structured with Oregon estate transfer tax planning provisions (ORS Chapter 118).

☐ The trust is not specifically designed for Oregon estate tax planning.

☐ Not applicable to this Certification.

IX. EXECUTION AND ACKNOWLEDGMENT

// GUIDANCE: ORS 130.860 provides that a certification of trust may be signed or otherwise authenticated by any trustee. However, under ORS 130.860(1), a person proposing to deal with the trustee may require ALL trustees to execute the certification. For real property, acknowledgment (notarization) is recommended to permit recording under ORS Chapter 205.

IN WITNESS WHEREOF, the undersigned Trustee(s) have executed this Certification of Trust on this [____] day of [________________], [________].

Trustee Signature:

_________________________________________
[________________________________]
Trustee of the [________________________________] Trust
Dated [__/__/____]

Date: [__/__/____]

Trustee Signature (if applicable):

_________________________________________
[________________________________]
Trustee of the [________________________________] Trust
Dated [__/__/____]

Date: [__/__/____]

X. NOTARIZATION

STATE OF OREGON

COUNTY OF [________________________________]

On this [____] day of [________________], [________], before me, the undersigned Notary Public, personally appeared:

[________________________________]

☐ personally known to me, OR
☐ proved to me on the basis of satisfactory evidence (document type: [________________________________])

to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same freely and voluntarily for the uses and purposes therein mentioned.

// GUIDANCE: Oregon notarial acts are governed by ORS Chapter 194. Effective January 1, 2020, Oregon adopted the Revised Uniform Law on Notarial Acts (RULONA). Remote online notarization is permitted under ORS 194.400 et seq.

WITNESS my hand and official seal.

_________________________________________
Notary Public for Oregon
My Commission Expires: [__/__/____]

[NOTARY SEAL]

XI. STATE-SPECIFIC NOTES

// GUIDANCE: The following notes address Oregon-specific considerations.

A. Oregon Uniform Trust Code. Oregon adopted the Uniform Trust Code effective January 1, 2006 (codified at ORS Chapter 130). The certification of trust provisions are found at ORS 130.860 (UTC 1013).

B. SSN/EIN Requirement. Oregon's certification of trust statute (ORS 130.860(2)(f)) specifically requires disclosure of the last four digits of the Settlor's Social Security number or the trust's employer identification number. This requirement is not present in all states that adopted the UTC.

C. Separate Modification and Revocation Disclosures. ORS 130.860 requires separate disclosure of (i) the revocability status and the identity of any person with power to revoke (subsection 2(b)), and (ii) the existence of any power to modify or amend and the identity of any person holding such power (subsection 2(c)). Practitioners should address both provisions distinctly.

D. Third-Party Request for All Trustees. Under ORS 130.860(1), a person proposing to deal with the trustee may require that ALL trustees execute and furnish the certification. This may require coordination among multiple co-trustees.

E. Oregon Estate Transfer Tax. Oregon imposes its own estate transfer tax (ORS Chapter 118) with an exemption threshold of $1,000,000, significantly lower than the federal estate tax exemption. Trust planning in Oregon should account for this separate state tax.

F. No Community Property. Oregon is not a community property state. However, Oregon recognizes registered domestic partnerships, and certain property held by registered domestic partners may have unique treatment.

G. Real Property Recording. For certifications used in connection with real property, the document should be acknowledged and recorded with the county clerk's office under ORS Chapter 205. Recording fees are established by ORS 205.320.

H. Remote Online Notarization. Oregon permits remote online notarization under ORS 194.400 et seq. (effective 2020), which may facilitate execution of certifications where trustees are located in different jurisdictions.

I. Prudent Investor Rule. Oregon has adopted the Uniform Prudent Investor Act, codified at ORS 130.750 through 130.775, governing trustee investment duties.

J. Liability for Improper Demand. Under ORS 130.860(7), a person who demands the full trust instrument, despite having received a valid certification, may be liable for damages if the demand is unreasonable and results in harm to the trust or its beneficiaries.

This Certification of Trust is made under the laws of the State of Oregon and is intended to comply with all requirements of ORS 130.860 (UTC 1013). This document does not contain the dispositive terms of the trust.