Irrevocable Trust - Arizona

Arizona Irrevocable Trust

Trust name: [TRUST NAME]

Settlor: [SETTLOR FULL LEGAL NAME], of [ADDRESS].

Initial trustee: [TRUSTEE FULL LEGAL NAME], of [ADDRESS].

Current beneficiary: [BENEFICIARY FULL LEGAL NAME], born [DATE], of [ADDRESS].

Execution date: [DATE]

1. Creation and present funding

The Settlor intends to create an irrevocable trust for the Current Beneficiary and remainder recipients identified below. The Settlor now transfers and delivers the property described in Schedule A to the Trustee, who accepts it and acknowledges receipt by signing below. The Trustee shall hold that property, proceeds, and accepted later contributions as the separate trust estate. An asset requiring a deed, assignment, or registration shall also be transferred by that required instrument.

The Settlor reserves no right under this instrument to revoke or amend the trust or receive a distribution. The Trustee has no independent authority to rewrite beneficial terms. A change or termination must comply with applicable Arizona law; A.R.S. § 14-10411 provides a court-reviewed route for a noncharitable irrevocable trust modified or terminated by beneficiary consent. This instrument does not exclude any other lawful route.

2. Distributions during the term

The Trustee may distribute income or principal to or for the Current Beneficiary in amounts the Trustee reasonably decides are appropriate for that person's health, education, maintenance, or support. The Trustee may pay providers directly, reimburse documented expenses, or pay the Current Beneficiary. Undistributed income shall be accumulated and invested as principal. No distribution to the Settlor is authorized.

The Trustee shall exercise discretion in good faith, preserve sufficient reserves for proper trust expenses, and keep records of payments and their purpose. If the Current Beneficiary is a minor or unable to receive a payment, the Trustee may pay a legal representative or pay directly for that person's benefit.

3. Termination and complete remainder

This trust ends upon the Current Beneficiary's death. After paying proper trust administration expenses and liabilities, the Trustee shall distribute 100% of the balance:

1. To the Current Beneficiary's then-living descendants, by representation;
2. If there are no such descendants, to [ALTERNATE REMAINDER BENEFICIARY FULL NAME], if living;
3. If that alternate is not living, to that alternate's estate.

The Trustee shall complete the winding up and convey each asset to its recipient. A court-ordered earlier termination remains subject to the controlling order and Arizona law.

4. Trustee succession and administration

If the Initial Trustee dies, resigns, becomes incapacitated, or is removed, [FIRST SUCCESSOR TRUSTEE FULL NAME] shall serve. If unavailable, [SECOND SUCCESSOR TRUSTEE FULL NAME] shall serve. A successor who accepts shall receive the trust property and records and administer them under these terms. If no named successor can serve, an interested person may seek a court appointment under applicable law.

The Trustee may invest and reinvest, retain or sell trust property, open trust accounts, hire necessary professional assistance, pay proper expenses, and make the distributions directed above, subject to fiduciary duties. Trust property and records shall be kept identifiable and separate.

Within sixty days after accepting trusteeship, the Trustee shall notify qualified beneficiaries of acceptance and contact details. Within sixty days after learning of this irrevocable trust's creation, the Trustee shall give the notice of existence and rights described in A.R.S. § 14-10813(B)(3). The Trustee shall send the annual and termination reports required by subsection (C) to distributees and permissible distributees, and to other beneficiaries who request them. The report shall describe property, liabilities, receipts, disbursements, compensation, and, if feasible, market values. The Trustee shall respond to reasonable information requests under subsection (A).

5. Interests, responsibility, and governing law

A beneficiary may not voluntarily or involuntarily transfer an interest before receiving it from the Trustee, to the extent permitted by A.R.S. § 14-10502. This restraint remains subject to the exceptions otherwise provided by law and does not shield property after receipt.

A breaching Trustee remains liable for the damages described in A.R.S. § 14-11002. This instrument neither caps that liability at trust assets nor excuses bad faith or reckless indifference contrary to § 14-11008. Arizona law governs this trust. Nothing here waives a jury right available on a duly demanded controverted fact question under A.R.S. § 14-1306(A).

6. Signatures

The Settlor signs this written trust and transfers the Schedule A property on the execution date. The Trustee signs to accept the office and acknowledge receipt. The parties may have their signatures acknowledged when needed for an asset transfer.

Settlor: __________________________ [SETTLOR NAME] Date: __________

Trustee: __________________________ [TRUSTEE NAME] Date: __________

Witness 1: ________________________ Date: __________

Witness 2: ________________________ Date: __________

Schedule A — initial property delivered

Property and identifying details: [EXACT CASH AMOUNT AND DELIVERY METHOD OR COMPLETE ASSET DESCRIPTION]

Estimated value: [AMOUNT] Delivery date: [DATE]

I, the Trustee, acknowledge present receipt of this property.

Trustee: __________________________ Date: __________