Revocable Living Trust Form Create a Revocable Living Trust Form

Revocable Living Trust Form

Updated Jan 09, 2026
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A revocable living trust form establishes a trust that can be altered or revoked during the grantor's lifetime, facilitating asset management.

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Select whether this trust is for an individual or a married couple. Joint trusts are common for married couples.

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REVOCABLE LIVING TRUST FORM

I. PARTIES AND DATE

This Revocable Living Trust Agreement (the "Trust") is entered into on , by and between:

The Grantor:
(Hereinafter referred to as the "Grantor"), with a mailing address of

AND

The Trustee:
(Hereinafter referred to as the "Trustee"), with a mailing address of

II. MARITAL STATUS

The Grantor represents that their current marital status is (check one):

III. NAME OF TRUST

This Trust shall be known as:

The Revocable Living Trust.

IV. TRANSFER OF ASSETS

The Grantor hereby transfers, assigns, conveys, and delivers to the Trustee the property described in Schedule A attached hereto and made a part hereof. The Grantor, or any other person, may at any time grant, transfer, or convey to the Trustee such other property as they may desire to become a part of this Trust, which shall be held, administered, and distributed by the Trustee in accordance with the provisions of this Agreement.

V. RIGHTS OF THE GRANTOR

A. Revocation and Amendment. The Grantor reserves the right at any time, by an instrument in writing delivered to the Trustee, to revoke this Trust in whole or in part, or to alter or amend any of the terms or provisions hereof.

B. Withdrawal of Assets. The Grantor reserves the right to withdraw any or all of the assets from the Trust at any time.

C. Income and Principal. During the lifetime of the Grantor, the Trustee shall pay to or apply for the benefit of the Grantor all of the net income of the Trust and so much of the principal as the Grantor may request in writing.

VI. TRUSTEES

A. Original Trustee. The Grantor appoints the individual named in Section I as the initial Trustee.

B. Successor Trustee. In the event the Trustee dies, resigns, or becomes incapacitated, the following individual shall serve as Successor Trustee:

The Successor Trustee:
Address:

C. Powers of Successor. Any Successor Trustee shall have all the rights, powers, and privileges granted to the original Trustee.

VII. DISPOSITION OF ASSETS UPON DEATH

Upon the death of the Grantor, the Trustee shall pay all legal debts, funeral expenses, and estate taxes of the Grantor. After the payment of such debts and expenses, the Trustee shall distribute the remaining assets of the Trust as follows:

A. Specific Distributions. The Trustee shall distribute specific assets to specific beneficiaries as described below:

Distribution 1:
Description of Asset:
Beneficiary Name:

B. Residuary Estate. All the rest, residue, and remainder of the Trust property, of whatever kind and wherever situated, shall be distributed to the Beneficiary(ies) listed in Article VIII.

VIII. BENEFICIARIES

The Grantor designates the following individuals or entities as the Beneficiary(ies) of the residuary estate:

Beneficiary 1:
Name:

If any Beneficiary named above does not survive the Grantor, their share shall be distributed to:

IX. TRUSTEE POWERS

In the administration of this Trust, the Trustee shall have the following powers, in addition to those powers conferred by law:

  1. Retain Assets. To retain any property transferred to the Trust, regardless of lack of diversification or risk.
  2. Investments. To invest and reinvest in any property, real or personal, including stocks, bonds, mutual funds, and real estate.
  3. Real Estate. To sell, lease, mortgage, repair, improve, or insure any real estate held in the Trust.
  4. Borrowing. To borrow money for any Trust purpose and to encumber Trust property as security.
  5. Claims. To compromise, settle, arbitrate, or defend any claim or demand in favor of or against the Trust.
  6. Distributions. To make distributions in cash or in kind, or partly in each.

X. INCAPACITY

If the Grantor becomes incapacitated, as determined by a licensed physician, the Successor Trustee shall assume the duties of Trustee and shall administer the Trust for the exclusive benefit of the Grantor during the Grantor's lifetime.

XI. GENERAL PROVISIONS

A. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of:

B. Severability. If any provision of this Agreement is held to be invalid or unenforceable, the remaining provisions shall continue to be valid and enforceable.

C. Spendthrift Provision. No interest of any beneficiary in the income or principal of this Trust shall be subject to pledge, assignment, sale, or transfer in any manner, nor shall any beneficiary have the power to anticipate, charge, or encumber such interest, nor shall such interest be liable for the debts or obligations of any beneficiary.

D. Accounting. The Trustee shall not be required to render any accounting to any court, but shall render an annual accounting to the Grantor (or the Beneficiaries after the Grantor's death).

E. Bond. No bond or other security shall be required of any Trustee appointed hereunder.

XII. SIGNATURES

IN WITNESS WHEREOF, the parties have executed this Revocable Living Trust Agreement on the date first above written.

GRANTOR
Signature: _________________________
Print Name: _______________
Date:
Address: _______________

TRUSTEE
Signature: _________________________
Print Name: _______________
Date:
Address: _______________

XIII. WITNESSES

We, the undersigned witnesses, certify that the Grantor signed this Trust in our presence, and that to the best of our knowledge, the Grantor is of legal age, of sound mind, and under no constraint or undue influence.

WITNESS 1
Signature: _________________________
Print Name:
Date:
Address:

WITNESS 2
Signature: _________________________
Print Name:
Date:
Address:

SCHEDULE A

ASSETS TRANSFERRED TO TRUST

The following assets are hereby transferred, assigned, and conveyed to the Trustee of the Trust created by this Agreement:

1. Real Estate
Description of Property:

2. Bank Accounts
Bank Name and Account Number (Last 4 digits):

3. Investment Accounts
Institution and Account Number (Last 4 digits):

4. Personal Property
Description of Items (Vehicles, Jewelry, Art, etc.):

5. Other Assets
Description:

Grantor's Initials:

What is a Revocable Living Trust Form?

A Revocable Living Trust Form is a legal instrument used to create a fiduciary arrangement where a designated trustee manages assets for the benefit of specific beneficiaries. This document allows the individual creating the trust, known as the grantor, to transfer ownership of assets into the trust entity while retaining control and the ability to alter, amend, or dissolve the agreement during their lifetime. Individuals utilize this estate planning tool primarily to bypass probate proceedings, ensure privacy regarding asset distribution, and provide specific instructions for asset management in the event of incapacitation or death.

Key Parties and Roles

The execution and administration of a revocable living trust involve specific roles that define the legal relationship between the parties and the assets.

  • Grantor - The individual who establishes the trust and transfers their assets into it, often serving as the initial trustee to maintain control.
  • Trustee - The person or entity appointed to hold legal title to the trust property and administer it according to the terms of the trust document.
  • Successor Trustee - An individual designated to assume management responsibilities if the original trustee resigns, becomes incapacitated, or passes away.
  • Beneficiary - The person or entity entitled to receive the income, principal, or other benefits generated by the trust assets.

Types of Trust Structures

Estate planning strategies utilize various configurations of trust documents to address specific ownership situations and beneficiary needs.

  • Individual Revocable Trust - Established by a single person to manage their separate property and assets during their lifetime and distribute them upon death.
  • Joint Revocable Trust - Created by a married couple to handle shared assets within a single document, often simplifying administration for community property.
  • Testamentary Trust - Established through a will and only becomes active upon the death of the testator, distinct from a living trust which functions immediately.
  • AB Trust - A joint trust arrangement that splits into two separate trusts upon the death of the first spouse to maximize estate tax exemptions.

Legal Framework and Statutory Requirements

The validity, administration, and taxation of revocable living trusts rely on adherence to federal and state regulations.

  • Uniform Trust Code - Provides a standardized set of rules for creating, modifying, and terminating trusts adopted by many jurisdictions (UTC § 101 et seq.).
  • Grantor Trust Rules - Defines tax implications where the grantor retains control, causing income to be taxed on the grantor's personal return (26 U.S.C. §§ 671-679).
  • Capacity Requirements - Mandates that the grantor must be of sound mind and legal age at the time of trust creation (UTC § 402).
  • Statute of Frauds - Requires trusts involving real property to be evidenced by a written instrument to be enforceable (varies by state statute).
  • Rule Against Perpetuities - Limits the duration a trust can exist to prevent property from being tied up indefinitely (common law doctrine modified by many states).

Process for Funding a Revocable Living Trust

The creation of the trust document serves only as the first step; the grantor must transfer assets into the trust for the instrument to be effective.

Step 1: Real Estate Transfer - Execute a new deed, such as a quitclaim or warranty deed, transferring title from the individual's name to the trust.

Step 2: Financial Accounts Updates - Contact banks and brokerage firms to retitle accounts or designate the trust as the pay-on-death beneficiary.

Step 3: Business Interest Assignment - Transfer stock certificates, LLC membership units, or partnership interests into the name of the trust.

Step 4: Personal Property Assignment - Create a general assignment of property document to cover tangible items like furniture, jewelry, and art.

Revocable Living Trust vs. Will

Estate planning often involves choosing between or combining a trust and a traditional will, as each serves distinct functions regarding probate and asset control.

  • Probate Avoidance - Assets held in a trust generally bypass the court-supervised probate process, allowing for faster distribution to beneficiaries.
  • Privacy Levels - Trust documents remain private contracts and do not become public record, unlike wills which enter the public domain upon probate.
  • Incapacity Management - Trusts allow a successor trustee to manage assets immediately if the grantor becomes incapacitated, offering protection without court intervention.
  • Effective Timeline - A living trust takes effect immediately upon signature and funding, while a will only becomes legally operative upon the death of the testator.

Required Elements of a Valid Trust Document

State laws dictate specific components that must be present for a revocable living trust form to be legally binding.

  • Intent to Create Trust - The language must clearly demonstrate the grantor's intention to establish a trust relationship.
  • Identifiable Property - The document must specify the assets or property, known as the trust corpus, being transferred into the trust.
  • Definite Beneficiaries - The agreement must name specific individuals or entities who will benefit from the trust assets to ensure enforceability.
  • Valid Purpose - The objectives of the trust must be lawful and not contrary to public policy.

FAQs

A revocable living trust does not entirely replace a will. Most estate plans utilizing a trust also include a "pour-over will" to catch any assets not formally transferred into the trust before the grantor's death.
The grantor retains the right to amend, modify, or revoke the trust entirely at any time during their life, provided they maintain mental capacity. This flexibility allows for changes in beneficiaries, trustees, or asset distribution strategies as circumstances evolve.
A revocable living trust generally offers no protection from creditors during the grantor's lifetime. Since the grantor retains control and access to the assets, courts typically view the assets as reachable by creditors to satisfy debts.
A revocable living trust typically uses the grantor's Social Security number during their lifetime. A separate Taxpayer Identification Number (TIN) or Employer Identification Number (EIN) usually becomes necessary only after the grantor's death or if the trust becomes irrevocable.
Upon the death of the grantor, the trust usually becomes irrevocable. The successor trustee then assumes control to pay debts and taxes and distributes the remaining assets to the beneficiaries according to the instructions in the trust document.

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