Final Project: Caroline Fuqua Case–Trust Preparation
Mary’s 44-year-old unmarried sister, Caroline Fuqua wants to create a simple revocable trust agreement so she can leave money to Mary’s two children. Since Mary’s son David, now 18 years old, has been getting into trouble with the law, Caroline wants the trust to ensure that David receives his inheritance at age 30. Caroline is the settlor and the trustee during her lifetime. Caroline’s brother, Roger Jones , is to be designated as the successor trustee. Until David reaches the age of 30, the trustee is authorized to distribute the principal and income at the trustee’s discretion to David for his education and living expenses while in school.
Draft Caroline’s simple revocable trust agreement by using Lexis Advance forms. Use Florida law and search by using the terms, “simple trust.” You will find a form that is two pages entitled, BOGERT § 1075. Simple trust single person: outright to children on grantor’s death. Use this form as a guide but the document should be drafted from scratch and represent your individual effort. You may also use the textbook as a guideline.
You may brainstorm with your classmates to generate ideas for completing this assignment. You may use the Chat function within Brightspace, one of the free-ware IM programs, such as www.aim.com or http://messenger.yahoo.com/, or use a discussion thread for this activity.
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