This section contains a compilation of sample trusts and trust provisions for consideration by legal counsel. This sample language is intended as an option for review and use by competent legal counsel. Peak Trust Company does not provide legal or drafting advice.
Sample Trusts
Each of these sample trusts is not only designed for a different purpose, but the dispositive and nondispositive provisions also vary from form to form. For example, the class of beneficiaries under one sample trust may differ from the class in another. Further, some have provisions for Trust Protectors (who can remove and replace trustees) and others do not. However, each is intended to be an Alaska or Nevada trust. The client’s attorney should select appropriate provisions for the client’s unique situation.
| Download Sample Trusts | Description |
|---|---|
| Alaska Descendants Trust | The Alaska Descendants Trust is a trust designed to provide benefits specifically for descendants. |
| Alaska Dynasty Trust | The Alaska Dynasty Trust or “Perpetual Trust” is designed to be for the benefit of the grantor, the grantor’s spouse, and descendants during the grantor’s lifetime. Upon passing of grantor and spouse, the trust is divided per stirpes for the descendants. |
| Alaska Community Property Trust | The Alaska Community Property Trust is a trust for non-residents of Alaska to hold low or negative basis assets to take advantage of the step up basis afforded by community property. |
| Alaska Asset Preservation Trust | The Alaska Asset Preservation Trust is typically an incomplete gift trust designed to preserve assets. |
Sample Language For Recommended Provisions
These sample provisions are intended as an option for review and use by competent legal counsel. Peak Trust Company does not provide legal or drafting advice. Prior to acceptance of a trust for which Peak Trust Company will act as trustee, Peak will generally require some form of acceptable language for each of the following areas:
- Trustee Indemnification
- Authority to Resign
- Trustee Compensation
- Spendthrift Provision
- Situs Provision
| Download Sample Language | Description |
|---|---|
| Alaska Sample Recommended Provisions | Sample language for recommended provisions for Alaska Trusts. |
| Nevada Sample Recommended Provisions | Sample language for recommended provisions for Nevada Trusts. |