# Independent Trustee Agreement
**This Independent Trustee Agreement ("Agreement") is made and entered into as of [Date], by and between:**
**1. [Settlor's Name]**, of [Settlor's Address] (hereinafter referred to as "Settlor")
**2. [Trustee's Name]**, of [Trustee's Address] (hereinafter referred to as "Trustee")
**RECITALS**
WHEREAS, the Settlor wishes to establish a trust to manage certain assets for the benefit of the beneficiaries defined herein;
WHEREAS, the Trustee has agreed to accept the appointment as an independent trustee of the trust established by the Settlor;
NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained, the parties hereto agree as follows:
### 1. Establishment of the Trust
The Settlor hereby establishes a trust (the "Trust") known as **[Trust Name]**. The Trust shall be governed by the terms and conditions set forth in this Agreement.
### 2. Trust Property
The property (the "Trust Property") to be held in trust shall consist of the following assets:
- [Asset description]
- [Asset description]
- [Additional assets]
### 3. Trustee's Duties and Powers
The Trustee, as an independent trustee, shall have the following duties and powers:
- To hold, manage, and invest the Trust Property in accordance with applicable laws and the terms of this Agreement.
- To make distributions to the beneficiaries as set forth in Section 5 of this Agreement.
- To keep accurate records of all transactions and provide annual accounting to the Settlor and beneficiaries.
- To employ agents, consultants, or professionals as necessary to perform the duties described herein.
### 4. Compensation
The Trustee shall be compensated for services rendered under this Agreement as follows:
- [Compensation terms, e.g., hourly rate, percentage of Trust Property]
- The Trustee shall be reimbursed for reasonable expenses incurred in connection with the administration of the Trust.
### 5. Distribution of Trust Property
The Trustee shall distribute the Trust Property to the beneficiaries in the following manner:
- [Beneficiary Name], [Description of Interest/Distribution Terms]
- [Beneficiary Name], [Description of Interest/Distribution Terms]
- Any additional distribution terms.
### 6. Limited Liability
The Trustee shall not be liable for any loss or damage to the Trust Property or the beneficiaries unless such loss or damage is due to the Trustee's gross negligence or willful misconduct.
### 7. Termination of Trust
The Trust shall terminate upon the occurrence of the following events:
- [Termination conditions, e.g., distribution of all assets, specified date]
Upon termination, the Trustee shall execute all documents necessary to convey the Trust Property to the beneficiaries.
### 8. Amendments
This Agreement may be amended or modified only by written agreement executed by both the Settlor and the Trustee.
### 9. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of [State].
### 10. Entire Agreement
This Agreement constitutes the entire understanding between the parties with respect to the subject matter hereof and shall supersede all prior agreements or understandings.
IN WITNESS WHEREOF, the parties hereto have caused this Independent Trustee Agreement to be executed as of the date first above written.
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**Settlor:**
__________________________
[Settlor's Name]
Date: _______________
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**Trustee:**
__________________________
[Trustee's Name]
Date: _______________
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*This document is intended to provide a general framework for establishing an independent trustee agreement. Legal advice should be sought to ensure compliance with state laws and specific circumstances.*