E.G.: THE JOHN AND JANE SMITH LIVING TRUST
Include the percentage (%) or fraction of the trust property that each Primary Beneficiary will receive Also,specify who you want the Alternate Beneficiary(ies) to be if the named Primary Beneficiary predeceases you.
Your trust will include pages for you to designate gifts of personal property to people in your own handwriting. Anypersonal property not disposed of on such pages will be distributed according to your successor trustee's discretion.
When naming a younger person as a residuary beneficiary (or alternate beneficiary), your Living Trust document willdirect your successor Trustee to manage the younger beneficiary’s inheritance until the beneficiary reaches a particular
age of your choosing. You can choose an age as young as 18, or as old as you want (ages 25 or 30 are very common).The successor trustee has the discretion to make distributions for the beneficiary’s care, support, comfort and education.
This means the successor trustee can still pay for the younger beneficiary’s college, housing and transportation expensesbefore age 25; this is the age the beneficiary would receive his or her share free from control of the successor trustee.
(who you want to receive the "residue", or all of the property owned by the trust that is not used to pay
debts or given as a specific gift. This distribution, made after your death, will most likely comprise the
bulk of your estate.