Trust Agreement

This data model captures key information from Trust Agreement documents, including both revocable and irrevocable living trusts and their amendments. It extracts essential details like the type of trust, significant dates (execution), the governing jurisdiction, and the formal name of the trust. It identifies the core parties involved: the Grantors (who create the trust), the Trustees (who manage it), and the Beneficiaries (who benefit from it), including their names, roles, and relevant clauses. Additionally, the model extracts details about assets listed in schedules, specific legal powers and provisions outlined in the document (like trustee powers, distribution rules, amendment/revocation clauses), and information about any legal counsel involved in drafting the document.

Field name	Type	Description
document_type	string	Type of document (e.g., 'Revocable Living Trust Agreement', 'Irrevocable Life Insurance Trust', 'First Amendment'). Enum: `revocable_living_trust_agreement`, `irrevocable_living_trust_agreement`, `irrevocable_life_insurance_trust_ilit`, `charitable_remainder_trust_crt`, `charitable_lead_trust_clt`, `grantor_retained_annuity_trust_grat`, `spousal_lifetime_access_trust_slat`, `special_needs_trust`, `dynasty_trust`, `amendment`, `restatement`, `other`
execution_date	string	Date the document was signed and executed, in YYYY-MM-DD format.
jurisdiction	string	State or jurisdiction governing the trust.
document_version	string	Version or amendment number of the document, if applicable.
trust_name	string	Formal name of the trust.
is_revocable	boolean	Indicates whether the trust is revocable (true) or irrevocable (false).
trust_type_statement	string	Text excerpt stating the revocable or irrevocable nature of the trust or the type of trust established.
trust_purpose	string	Brief description of the trust's purpose (if explicitly stated).
tax_identification_number	string	EIN or Tax ID for the trust (if mentioned in the document).
grantors	array	List of Grantors/Settlors who created the trust.
grantor_full_name	string	Full name of the Grantor.
grantor_address	string	Address of the Grantor (as stated in the document).
grantor_role_statement	string	Text excerpt from the document defining their role as Grantor/Settlor.
trustees	array	List of Trustees (Initial and Successor) named in the document.
trustee_full_name	string	Full name of the Trustee.
trustee_address	string	Address of the Trustee (as stated in the document).
trustee_type	string	Type of Trustee (e.g., 'Initial Trustee', 'Successor Trustee', 'Co-Trustee'). Enum: `initial_trustee`, `successor_trustee`, `co_trustee`, `special_trustee`, `other_trustee`
trustee_appointment_clause	string	Text excerpt from the document related to their appointment or powers as Trustee.
beneficiaries	array	List of Beneficiaries (Primary and Contingent) named in the document.
beneficiary_full_name	string	Full name of the Beneficiary.
beneficiary_address	string	Address of the Beneficiary (as stated in the document, may be optional).
beneficiary_relationship	string	Relationship to Grantor (if stated, e.g., 'Son', 'Daughter', 'Charity').
beneficiary_type	string	Type of Beneficiary (e.g., 'Primary Beneficiary', 'Income Beneficiary'). Enum: `primary_beneficiary`, `contingent_beneficiary`, `charitable_beneficiary`, `income_beneficiary`, `remainder_beneficiary`, `special_needs_beneficiary`, `dynasty_trust_beneficiary`, `other_beneficiary`
beneficiary_distribution_clause	string	Text excerpt from the document detailing their distribution rights or conditions.
beneficiary_share	string	The beneficiary's share of the trust assets (e.g., '50%', '1/3', 'Specific amount', 'Residue').
assets_schedule	array	List of assets mentioned in any schedule or appendix attached to the trust document (if present).
asset_description	string	Description of the asset as listed in the schedule (e.g., 'Primary Residence at 123 Main St.', 'Bank Account #XXXX').
asset_type	string	General type of asset (e.g., 'Real Estate', 'Bank Account', 'Investments'). Enum: `real_estate`, `bank_account`, `investments`, `retirement_account`, `life_insurance`, `personal_property`, `business_interests`, `loans_notes`, `intellectual_property`, `mineral_rights`, `digital_assets`, `other`
asset_identifier	string	Specific identifier for the asset (e.g., Account number, Property Address, Vehicle VIN).
powers_and_provisions	object	Key powers and provisions sections extracted as text excerpts.
trustee_powers	string	Text excerpt detailing the powers granted to the Trustee(s).
distribution_provisions	string	Text excerpt describing how distributions to beneficiaries are to be made.
amendment_clause	string	Text excerpt detailing the process for amending the trust.
revocation_clause	string	Text excerpt detailing the process for revoking the trust (or statement of irrevocability).
termination_clause	string	Text excerpt detailing the conditions or process for termination of the trust.
governing_law_clause	string	Text excerpt stating the governing law of the trust.
special_provisions	string	Text excerpts of any other significant special provisions or clauses.
legal_counsel	array	Information about legal counsel or law firms mentioned in the document.
counsel_name	string	Name of the attorney or law firm.
counsel_contact_info	string	Contact information for the attorney or law firm (address, phone, etc. as mentioned).
counsel_role_statement	string	Text excerpt mentioning their role (e.g., 'Prepared by', 'Legal Counsel for').

Field Notes

Dates: All dates (execution_date) must be extracted in YYYY-MM-DD format.
Text Excerpts: Fields like trust_type_statement, grantor_role_statement, trustee_appointment_clause, beneficiary_distribution_clause, and all fields under powers_and_provisions should contain direct text quotes from the document relevant to the field description.
Enumerated Values: Fields like document_type, trustee_type, beneficiary_type, and asset_type have predefined allowed values listed in the table description. Only these values (or other if applicable) should be used.
Lists (Arrays): For grantors, trustees, beneficiaries, assets_schedule, and legal_counsel, extract all instances found in the document. If no instances are found, return an empty list ([]).
Null Values: If a specific piece of information (e.g., tax_identification_number, document_version, optional address fields) is not present in the document, the corresponding field should be null.