Multiple Trusts for Children -- Trust Agreement for Minor Qualifying for Annual Gift-Tax Exclusion is a type of trust that allows the donor to make a gift of money or other assets to a minor child without incurring any gift tax. This type of trust is set up in such a way that it qualifies for the annual gift tax exclusion, which allows for an individual to give up to $15,000 per year per recipient without paying any tax. There are two main types of Multiple Trusts for Children -- Trust Agreement for Minor Qualifying for Annual Gift-Tax Exclusion: irrevocable and revocable. An irrevocable trust cannot be changed or revoked by the donor, and the assets put into the trust cannot be taken out. A revocable trust, on the other hand, can be changed or revoked by the donor and the assets can be taken out at any time. The trust agreement for Minor Qualifying for Annual Gift-Tax Exclusion must include the name of the donor, the name of the beneficiary (the minor child), and the terms and conditions of the trust. The trust should also specify who is responsible for the management of the trust assets, how the assets should be used (i.e., for the benefit of the minor child), and when the trust will terminate. In addition, the trust may contain provisions for the income and principal to be distributed to the minor child or to other beneficiaries at certain ages or upon certain events.