Revocable Trusts Clause Samples

Revocable Trusts. Can the trust be amended or revoked at any time by its grantors: Yes o No o If yes, please answer the following questions relating to each grantor (please add sheets if necessary): Grantor Name: _________________________ Net worth of grantor (including spouse, if applicable), including home, home furnishings and automobiles exceeds $1,000,000? Yes o No o Income (exclusive of any income attributable to spouse) was in excess of $200,000 for 2006 and 2007 and is reasonably expected to be in excess of $200,000 for 2008? Yes o No o Income (including income attributable to spouse) was in excess of $300,000 for 2006 and 2007 and is reasonably expected to be in excess of $300,000 for 2008? Yes o No o

Revocable Trusts. Notwithstanding anything to the contrary herein contained, it is recognized that certain of the Partners are not persons but are revocable trusts ("Trusts"), the grantors of which ("Grantors"), except for the transfer of their partnership interests to (or the designation of) such Trusts created by them, would be the Partners. Thus, when used herein the phrases "General Partner", "

Revocable Trusts. Notwithstanding anything to the contrary herein contained, it is recognized that certain of the Partners are not persons but are revocable trusts (“Trusts”), the grantors of which (“Grantors”), except for the transfer of their partnership interests to (or the designation of) such Trusts created by them, would be the Partners. Thus, when used herein the phrases “General Partner”, “Limited Partner”, “Partner” or “Subordinated Limited Partner” shall be deemed, when the context hereof so requires (such as, without limiting the generality of the foregoing, death, disability or withdrawal of a Partner, gross negligent conduct of a General Partner, a General Partner receiving a guaranteed draw for services rendered, General Partner required submission of tax returns, sale by a General Partner of Retiring Interests after his 56th birthday) to be a reference to the Grantor of such Trust. In addition, to the extent that any General Partner has obligations or liabilities imposed upon such General Partner pursuant to this Agreement, then, if such General Partner is a Trust, such General Partner, by such General Partner’s signature hereto (and the Grantor of such Trust by such Grantor’s signature hereto), hereby agrees that said obligations and liabilities are also obligations and liabilities of such Grantor.

Revocable Trusts. Can the trust be amended or revoked at any time by its grantors: Yes ☐ No ☐ If yes, please answer the following questions relating to each grantor (please add sheets if necessary): Grantor Name: ________________ Net worth of grantor (including spouse, if applicable), including home, home furnishings and automobiles exceeds $1,000,000? Yes ☐ No ☐ Income (exclusive of any income attributable to spouse) was in excess of $200,000 for the prior two taxable years and is reasonably expected to be in excess of $200,000 for the current taxable year? Yes ☐ No ☐ Income (including income attributable to spouse) was in excess of $300,000 for the prior two taxable years and is reasonably expected to be in excess of $300,000 for the current taxable year? Yes ☐ No ☐

Revocable Trusts. Can the trust be amended or revoked at any time by its grantors? YES_______ NO_______ If yes, please answer the following questions relating to each grantor (please add sheets if necessary): Grantor Name: Net worth of grantor (including spouse, if applicable) exceeds $1,000,000? Note: When determining net worth, the value of the grantor’s primary residence must be excluded. The related amount of indebtedness secured by the grantor’s primary residence up to its fair market value should also be excluded. However, indebtedness secured by the grantor’s primary residence in excess of the value of the grantor’s home should be considered a liability and deducted from the grantor’s net worth. YES_______ NO_______ Income (exclusive of any income attributable to spouse) was in excess of $200,000 for 2016 and 2017 and is reasonably expected to be in excess of $200,000 for 2018? YES_______ NO_______ Income (including income attributable to spouse) was in excess of $300,000 for 2016 and 2017 and is reasonably expected to be in excess of $300,000 for 2018? YES_______ NO_______

Revocable Trusts. Can the trust be amended or revoked at any time by its grantors: If yes, please answer the following questions relating to each grantor (please add sheets if necessary): Grantor Name: _________________________ Net worth of grantor exceeds $1,000,000 (including spouse, if applicable, real estate (excluding personal residence), automobiles, cash, short-term investments, stock and securities. Equity in personal property and real estate should be based on the fair market value of such property less debt secured by such property)? Income (exclusive of any income attributable to spouse) was in excess of $200,000 for 2014 and 2015 and is reasonably expected to be in excess of $200,000 for 2016? Income (including income attributable to spouse) was in excess of $300,000 for 2014 and 2015 and is reasonably expected to be in excess of $300,000 for 2016?

Revocable Trusts. An individual Partner that holds his or her interests as trustee under a Revocable Trust that has not been admitted as a Partner will be considered to have the same duties and responsibilities to the Partnership that such individual would have if he or she held the interests individually. The Trust shall be admitted as a Partner upon the approval of the General Partners and upon approval and adoption of all of the provisions of this Agreement, as the same may have been amended, which approval and adoption may be evidenced in such manner as is required by the General Partners.

Revocable Trusts. An individual Partner that holds his/her interests as trustee under a Revocable Trust that has not been admitted as a Partner will be considered to have the same duties and responsibilities to the Partnership that such individual would have if he/she held the interests Amended and Restated Agreement of Limited Partnership for Jaytee Properties individually. The Trust shall be admitted as a Partner upon the approval of the General Partners and upon the adoption of all the provisions of this Agreement, as the same may have been amended, which approval and adoption may be evidenced in such manner as is required by the General Partners.

Revocable Trusts. 36 THE ▇▇▇▇▇ FINANCIAL COMPANIES, L.L.L.P. (a Missouri Registered Limited Liability Limited Partnership) FIFTEENTH AMENDED AND RESTATED AGREEMENT OF REGISTERED LIMITED LIABILITY LIMITED PARTNERSHIP THIS FIFTEENTH AMENDED AND RESTATED AGREEMENT OF REGISTERED LIMITED LIABILITY LIMITED PARTNERSHIP of The ▇▇▇▇▇ Financial Companies, L.L.L.P. entered into as of this 14th day of May, 2004, by and among ▇▇▇▇▇▇▇ ▇. ▇▇▇▇ as General Partner, and ▇▇▇▇▇▇▇ ▇. ▇▇▇▇ as the Attorney-In-Fact for all of the other General Partners, all of the Limited Partners, all of the Class I Subordinated Limited Partners (none at the date of this Agreement) and all of the Class II Subordinated Limited Partners (formerly referred to as the "Subordinated Limited Partners").