A joinder agreement is a type of legal contract that is used when parties create a trust fund. Both individual donors and corporations use joinder agreements in conjunction with other contracts and trust agreements to ensure that the account’s funds are invested and dispersed properly.
A joinder agreement expresses a donor’s consent to disperse the funds of a trust account and make investments on behalf of the trust as outlined in the master trust agreement.
The trust’s donor and the manager of the trust execute the joinder agreement for it to be valid and legal.
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Joinder agreements designate a trust manager and list parties who may disperse the trust’s funds to the beneficiary.
Joinder agreements are legally binding once they are executed by each party to the agreement.
The legal definition of a joinder agreement varies by state. Consult an attorney for your state’s statues and procedures regarding trust funds.
Anna Green has been published in the "Journal of Counselor Education and Supervision" and has been featured regularly in "Counseling News and Notes," Keys Weekly newspapers, "Travel Host Magazine" and "Travel South." After earning degrees in political science and English, she attended law school, then earned her master's of science in mental health counseling. She is the founder of a nonprofit mental health group and personal coaching service.