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Summary of an Irrevocable Trust Article 4: Designation of Trustees So long as the Grantors remain alive, the Trust shall have a minimum of two and no more than three trustees. Actions of the Trust must be approved by at least two Trustees in writing, but the execution of financial documents may be done by a single Trustee. The initial trustees are the Grantors and their son, Robert Smith. Trustees may resign, or they may be replaced if they become disabled as defined in Article 7. When successors Trustee are needed, they shall be, in order of their appointment, Francis Smith, Mary Smith and Jane Smith.
Article 5: Power of Authority of Trustees
Article 3: Use of Income and Principal
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