What is a "Copy of Powers" or "Trust Powers"?

As part of the application for a line of credit backed by the cash value of a life insurance policy owned by an irrevocable trust, we require documentation confirming the authority of the trustees. This documentation is referred to as a "Copy of Powers" or "Trust Powers."

Where can I find the Powers?

Within the full trust agreement there should be a section that speaks to the powers, or the authority, of the trustees. We require all pages from the trust agreement that cover the Trustees’ power to pledge, encumber, or assign assets, borrower money, and sign agreements on behalf of the trust.

What we need from you:

Please provide an excerpt from your full trust agreement that specifically outlines the powers of the trustees. This section confirms that the trustees have the authority to borrow against the trust’s assets, such as a life insurance policy’s cash value.

If you can’t locate the specific language that refers to these powers, you can send us the full Trust Agreement and we’ll only review the sections relevant to Trustee authority. 

How to submit the document:

• Upload: You can upload the relevant excerpt directly through your online portal.
• Email: Alternatively, you can send the document to us via email at [support email address].

If you have questions or need further assistance, please don’t hesitate to reach out to our team at support@inclined.com. We're here to help!