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Living Trust

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REVOCABLE LIVING TRUST AGREEMENT

THIS REVOCABLE LIVING TRUST AGREEMENT, (hereinafter "Trust"), is being made on this the day of , , by and between of County, State of South Carolina, hereinafter referred to as the Trustor and the Trustee designated below and shall be governed and administered in accordance with the following terms and provisions:

ARTICLE I

NAME OF TRUST

1. NAME OF TRUST: This trust may be referred to as THE REVOCABLE LIVING TRUST and is created in accordance with Section 62-7-401 et seq. of the South Carolina Code.

ARTICLE II

IDENTIFICATION

2. TRUSTOR AND BENEFICIARIES: The Trustor or Settlor of this trust is , an Individual, residing at , , South Carolina . The Trustor is the parent of the following living children:

The Beneficiary of the Trust during the lifetime of the Trustor is the Trustor. Except as otherwise provided herein, upon the death of the Trustor, the Beneficiaries are the Children of the Trustor.

ARTICLE III

TRUSTEE APPOINTMENT

3. TRUSTEE APPOINTMENTS: The Trustor, hereby appoints , the Trustor, as Trustee of this Trust. If the Trustor, is unable to serve as Trustee for any reason, then the Trustor hereby appoints as Successor Trustee. If neither the first or second Trustee are able to serve as Trustee for any reason, then the Trustor hereby appoints as Successor Trustee, whether one or more.

The Trustee shall have all powers as provided in this agreement and the laws of the State of South Carolina. The principal place of administration of this trust is the Trustor’s place of residence.

ARTICLE IV

ASSETS OF TRUST

4. ASSETS OF TRUST: All rights, title, and interest in and to all real and personal property, tangible or intangible, listed on the attached Schedule “A”, is hereby assigned, conveyed and delivered to the Trustee for inclusion in this Trust.

5. ADDITIONS TO TRUST PROPERTY: Additional property may be conveyed to the Trust by the Trustor, or any other third party at any time.

6. RIGHTS TO TRUST ASSETS: Except as specifically provided herein, the Beneficiaries of this trust shall have no rights to any assets of the trust.

7. HOMESTEAD EXEMPTION: Grantor(s) reserves the right to use, occupy and reside upon any real property placed in this Trust as their permanent residence during their lives. Grantor(s) shall have the right to reside in the property rent free and without charge except for the payment of the following:

all mortgages costs and expenses

all property taxes

reasonable expenses of upkeep and maintenance

Grantor(s) retain the legal right to use and benefit from the property in all respects.

ARTICLE V

TRUSTEE POWERS AND OTHER PROVISIONS

8. POWERS: The Trustor does hereby grant to the Trustee all powers necessary to deal with any and all property of the Trust as freely as the Trustor could do individually.

9. AUTHORITY TO ACT: The approval of any court, the Trustor, or any beneficiary of any Trust created by this Trust shall not be required for any dealings with the Trustee of this Trust.

ARTICLE VI

TRUST ADMINISTRATION DURING LIFE OF TRUSTOR

10. MANAGEMENT OF TRUST PROPERTY: All property of the Trust shall be managed by the Trustee at the direction of the Trustor.

11. INCAPACITY OF TRUSTOR: During any period of incapacitation of the Trustor, the Successor Trustee may apply or expend all or a part of the income and principal of this Trust.

12. RESERVATION OF RIGHTS: Except during periods of incapacitation, the Trustor does hereby reserve during his or her lifetime the following rights:

To revoke this Trust Agreement in its entirety

To alter or amend this instrument in any and every particular at any time and from time to time

To change the identity or number of the Trustee and/or Successor Trustee

To withdraw from the operation of this Trust any or all of the Trust property

ARTICLE VII

DISTRIBUTIONS DURING LIFETIME OF TRUSTORS

13. GENERAL DISTRIBUTIONS: The following options are available to the Trustee regarding the distribution of principal or income to or for a beneficiary:

Payments may be made directly to the beneficiary as an allowance

Payments may be made to the Guardian of the beneficiary

Payments may be made to a relative of the beneficiary upon agreement to expend such income or principal solely for the benefit of the beneficiary

The Trustee may expend such income or principal directly for the beneficiary

14. RESIDENCE: A residence may be purchased or otherwise obtained by the Trustee for the benefit of an income beneficiary of any Trust for use by the beneficiary and his or her family.

15. OTHER PAYMENTS: At the request of any Trustor in writing, the Trustee shall make lump sum or periodic payments to any third party designated by such Trustor.

ARTICLE VIII

TRUST ADMINISTRATION AFTER TRUSTOR’S DEATH

16. TRUSTEE: Upon the death of the Trustor, the Successor Trustee shall continue to administer the assets of this Trust.

17. BENEFITS PAYABLE TO TRUST: Upon the death of the Trustor, the Trustee is hereby authorized to take any and every action necessary to collect any and all benefits payable to the Trust.

18. LIABILITIES OF TRUSTOR’S ESTATE: Prior to the distribution of any assets of this Trust, the Trustee may, at his or her sole and absolute discretion, pay to the Trustor’s estate, from the principal or income of the Trust, any or all of the Trustor’s just debts, funeral expenses, and administration expenses of the Trustor’s estate.

19. TAXES: Upon the death of the Trustor, all estate and inheritance taxes that become due and payable upon all of the property comprising the Trustor’s gross estate shall be paid by the Trustee.

20. ADDITIONAL DISTRIBUTIONS: The Trustee is hereby authorized to pay to the Probate Estate of the deceased Trustor as much of the income and principal of this Trust as the Trustee deems necessary for any purpose.

21. GIFTS: The Trustee shall, upon the death of the Trustor, make such gifts of the tangible personal property of the Trustor held or acquired by this Trust as may be directed by the Trustor’s Will or as Schedule B of this Trust.

ARTICLE IX

TRUSTOR’S DEATH

22. DISTRIBUTIONS: Upon the death of the Trustor, the following distributions shall be made from the property of this Trust after payment of the Trustor’s just debts, funeral expenses, expenses of any last illness, and the other distributions otherwise provided for in this Trust:

(a) DISPOSITION OF TRUST ESTATE ON DEATH OF THE TRUSTOR: If any of the children of the Trustor survives the Trustor, the Trustee shall divide the Trust property into as many shares of equal market value as are necessary to create one share for each of the Trustor’s children.

(b) SPRINKLING TRUST: The Trustee shall hold, administer, and distribute the assets of the Sprinkling Trust as follows:

(i) DISCRETIONARY PAYMENTS BEFORE DIVISION INTO SHARES.

(ii) DISCRETIONARY PAYMENTS OF INDIVIDUAL TRUSTS.

(iii) TERMINATION AND DISTRIBUTION OF INDIVIDUAL TRUSTS.

(iv) TERMINATION OF INDIVIDUAL TRUST ON DEATH OF CHILD.

(v) FINAL DISPOSITION.

(c) SPRINKLING TRUST FOR ISSUE.

23. DEATH OF BENEFICIARY: Should a named beneficiary die before a complete distribution of this Trust is made, and that Beneficiary leave no living issue, then that beneficiary’s share shall go to the surviving Beneficiaries.

ARTICLE X

TRUSTEE PROVISIONS

24. THIRD PARTIES: Any person dealing in good faith with the Trustee shall deal only with the Trustee and shall presume the Trustee has full power and authority to act on behalf of the Trust.

25. COMPENSATION: Any beneficiary of this Trust serving as Trustee shall do so without compensation for his or her services, except that the Trustee shall be reimbursed for reasonable expenses incurred in the administration of the Trust.

26. BOND AND QUALIFICATIONS: Bond shall not be required of the Trustee or any Successor Trustee.

27. SUCCESSOR TRUSTEE(S): No Successor Trustee shall be responsible for acts of any prior Trustee.

28. REMOVAL OF SUCCESSOR TRUSTEES: A Successor Trustee may be removed by the last individual to serve as Trustee.

29. DELEGATION OF POWERS: Any management function of any Trust may be delegated by any Trustee to any Successor Trustee.

30. LIMITED AMENDMENT POWER: The Trustee shall enjoy a limited power to amend management functions of this Trust only as may be required to facilitate the convenient administration of this Trust.

31. RESIGNATION OF TRUSTEE: Any Trustee may resign by writing filed among the trust papers effective upon the trustees’ discharge.

32. NONLIABILITY FOR ACTION OR INACTION BASED ON LACK OF KNOWLEDGE OF EVENTS. When the happening of any event affects the administration or distribution of the trust, a trustee who has exercised reasonable care is not liable for any action or inaction based on lack of knowledge of the event.

33. TRUSTEE AS BENEFICIARY. A trustee who is also a beneficiary of the trust may exercise powers to make discretionary distributions.

34. WAIVER OF ACCOUNTING. Except as otherwise provided herein, neither this trust, nor any Trustee, shall be required to provide an accounting to any Beneficiary.

ARTICLE XI

TRUST ADMINISTRATION

35. ALLOCATION TO PRINCIPAL AND INCOME – SEPARATE TRUSTS: All expenses and all receipts of money or property paid or delivered to the Trustee may be allocated to principal or income in the sole discretion of the Trustee.

36. ALIENATION: Excepting the Trustor, no income or principal beneficiary of any Trust shall have any right or power to anticipate, pledge, assign, sell, transfer, alienate or encumber his or her interest in the Trust.

37. TERMINATION OF TRUST: Should the aggregate principal of any Trust at any time be valued at Twenty Thousand Dollars ($20,000) or less, the Trustee may terminate such Trust.

38. ELECTIONS: The Trustee and the Personal Representative of the Trustor's estate will have various options in the exercise of discretionary powers.

39. BENEFICIARY DESIGNATION: Upon written designation by the Trustor of a beneficiary for a qualified plan or IRA benefits made payable to this Trust, the Trustee shall distribute the right to receive such benefits to the designated beneficiary.

40. CERTIFICATE OF TRUST: The Trustee is hereby authorized and granted all powers necessary to execute a Certificate of Trust, describing any Trust matter.

41. REGISTRATION OF TRUST ASSETS: Assets of this Trust during the Trustor’s lifetime shall be registered as follows: , Trustee, or his or her successors in trust, under THE REVOCABLE TRUST, dated the day of , , and any amendments thereto.

42. TAX IDENTIFICATION: This Trust shall be identified during the Trustor’s lifetime by the Trustor's Social Security Number . Upon the Trustor’s death, the Trustee shall then apply to the IRS for a tax identification number for the Trust and any other Trust created by this Trust Agreement.

43. SPENDTHRIFT CLAUSE: The interest of any Beneficiary of this Trust in the income and principal shall not be subject to claims of his or her creditors.

44. PERPETUITIES CLAUSE: All Trusts created by this instrument and interests therein shall vest in their then beneficiary twenty-one years after the death of the last of the issue of the Trustor.

ARTICLE XII

TERMS AND DEFINITIONS

45. INCAPACITATED: For the purposes of this Trust Agreement, if a Trustee or a beneficiary is under a legal disability, or by reason of illness, mental or physical disability is, in the written opinion of two doctors currently practicing medicine, unable to properly manage her affairs, he or she shall be deemed incapacitated.

46. REHABILITATION: For the purposes of this Trust Agreement, as a Trustee or as a beneficiary, shall be deemed rehabilitated when he or she is no longer under a legal disability or when, in the written opinion of two doctors currently practicing medicine, he or she is able to properly manage his or her own affairs.

47. GUARDIANSHIP: During any period of incapacity or incompetence, the Trustor does hereby nominate as Guardian of the Trustor’s property the same person(s) in name and order of succession who serve as Trustee as provided herein.

48. SURVIVORSHIP: This Agreement shall be binding upon the heirs, personal representatives, successors and assigns of the parties hereto.

49. APPLICABLE LAW: This Agreement shall in all respects be construed and regulated according to the laws of the State of South Carolina.

50. TRUSTEE AND TRUST: The term “Trustee" refers to the single, multiple and Successor Trustee, who at any time may be appointed and acting in a fiduciary capacity under the terms of this agreement.

51. GENDER - SINGULAR AND PLURAL: Where appropriate, words of the masculine gender include the feminine and neuter; words of the feminine gender include the masculine and neuter; and words of the neuter gender include the masculine and feminine.

52. IRC: The term "IRC" refers to the Internal Revenue Code and its valid regulations.

53. SERVE OR CONTINUE TO SERVE: A person cannot "serve or continue to serve" in a particular capacity if they are incapacitated, deceased, have resigned, or are removed by a court of competent jurisdiction.

54. ISSUE: The term "issue" shall include adopted issue of descendants and lineal descendants, both natural and legally adopted indefinitely.

55. NOTICE: No person shall have notice of any event or document until receipt of written notice.

56. MERGER: The doctrine of merger shall not apply to any interests under any Trust.

57. REPRESENTATION: In any Trust matter a beneficiary whose interest is subject to a condition shall represent the interests in the Trust of those who would take in default of said condition.

IN WITNESS WHEREOF, on this the day of , , Trustor, and Trustee have signed this Instrument.

TRUSTOR

TRUSTOR

TRUSTEE

STATE OF SOUTH CAROLINA

COUNTY OF

The foregoing instrument was acknowledged before me this by (name of person acknowledged).

Notary Public

Print Name

My commission expires

Schedule A

The sum of One Hundred Dollars ($100.00) in cash.

TOGETHER WITH:

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What a Living Trust Is and how it functions

A Living Trust is a legal arrangement in which a person (the grantor) transfers ownership of assets to a trust managed by a trustee for the benefit of named beneficiaries. It can be revocable or irrevocable; revocable trusts allow the grantor to retain control and to amend or revoke the trust during life. Living trusts commonly help manage assets if the grantor becomes incapacitated and can reduce or avoid probate after death. Proper execution and funding are required for the trust to operate as intended under state law.

Why a Living Trust matters for estate and incapacity planning

A Living Trust centralizes asset management, can avoid probate, preserve privacy, and provide continuity if the grantor becomes incapacitated. It clarifies successor trustee powers and may speed asset distribution to beneficiaries.

Why a Living Trust matters for estate and incapacity planning

Who typically sets up a Living Trust

People and organizations that commonly use Living Trusts include the following profiles:

  • Individuals with moderate to significant assets who want to avoid probate and maintain privacy for heirs.
  • Older adults or those with health concerns seeking clear incapacity planning and trustee powers during life.
  • Families with minor children or blended families requiring specific succession and distribution instructions.

Each profile has different needs; legal or financial counsel helps tailor trust terms and funding strategies.

Step-by-step: completing a Living Trust

Follow these essential steps to prepare, execute, and fund a Living Trust correctly.

  • 01
    Draft: Define trust type, name parties, and set distribution terms.
  • 02
    Select Trustee: Name primary and successor trustees with clear powers.
  • 03
    Sign: Execute trust with required signatures, notarization, or witnesses.
  • 04
    Fund: Transfer asset titles, accounts, and deeds into the trust.

Digital workflow settings for eSigning and recordkeeping

Configure signing authentication, field placement, and retention policies before sending trust documents for signature.

Field Configuration
Authentication Method Email link or SMS code; consider stronger ID if required
Signature Type Typed name or drawn signature; use notarized acknowledgement when needed
Signing Order Sequential for trustees then witnesses/notary
Document Retention Store signed PDF and audit trail for compliance

Platform and format considerations for electronic completion

Verify that your eSignature platform supports notarization workflows, secure storage, and your preferred file formats before use.

  • File Formats: PDF, DOCX accepted; use PDF for final executed copies
  • Integrations: Connectors include Salesforce, NetSuite, Google Workspace
  • Authentication: Support for email, SMS, and advanced ID as needed

Choose settings that preserve an audit trail, permit notarization where required, and secure documents according to regulatory needs.

How electronic signing of a Living Trust typically works

A standard digital signing flow reduces in-person steps while capturing necessary evidence for legality and recordkeeping.

  • Upload Document: Sender uploads the trust and supporting schedules.
  • Place Fields: Add signature, date, and witness fields as required.
  • Send for Signature: Distribute to trustees, witnesses, and grantor in order.
  • Execution & Storage: Collect signatures, notarize if needed, save PDF and audit trail.

Key components every professional Living Trust should include

A complete Living Trust contains standard sections that define parties, powers, asset handling, and end-of-life distribution.

Trust Identity

Trust name, effective date, and grantor identification so the document is uniquely tied to the individual establishing it and distinguishable from other instruments.

Trustee Powers

A clear list of trustee authorities including investment power, distribution discretion, and the ability to hire professionals and manage tax matters on behalf of the trust.

Successor Trustees

Named successor trustees with instructions for incapacity and death to ensure continuity of management and avoid court intervention.

Beneficiary Provisions

Specific distribution rules, contingent beneficiaries, age-based distributions, and conditions to reduce ambiguity and disputes at the time of distribution.

Funding Instructions

Detailed steps for transferring real estate, bank accounts, and titled assets into the trust; includes assignment language and deed form guidance.

Amendment & Revocation

Procedures and signature requirements for amendments or revocation, plus any self-proving or trustee consent provisions to support enforceability.

Essential information fields required in the Living Trust

Grantor Name: Full legal name
Trust Name: Distinct trust title
Trustee Details: Names and contact info
Beneficiary List: Names and shares
Asset Inventory: Property and account IDs
Execution Date: Signed MM/DD/YYYY

Common legal risks and consequences of errors

Unfunded Trust: Probate exposure
Incorrect Beneficiary: Distribution disputes
Missing Signatures: Invalid execution
Improper Notarization: State-law defects
Improper Trustee Power: Administration delays
Tax Errors: IRS or state issues

Frequent preparation mistakes to avoid

  • Failing to transfer titles and deeds into the trust, which leaves assets subject to probate despite having a trust in place.
  • Using imprecise beneficiary language or unclear fractional shares, resulting in disputes or unintended intestacy-like outcomes.
  • Neglecting to name successor trustees or backup agents, causing delays and potential court involvement if a trustee cannot serve.
  • Signing without required notarization or witnesses in jurisdictions that demand them, creating a risk the trust will be contested.

eSignature vendor comparison for executing a Living Trust

Compare core pricing and compliance features commonly relevant when selecting an eSignature provider for trust execution and notarization.

signNow DocuSign Adobe Sign PandaDoc HelloSign
Starting Price $8/user/mo $15/user/mo $14/user/mo $19/user/mo $15/user/mo
Free Trial 7-day trial Varies by vendor Varies by vendor Varies by vendor Varies by vendor
Bulk Send Yes Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No

Practical scenarios showing how Living Trusts are used

These scenarios illustrate typical reasons people create Living Trusts and how related tasks are completed.

Estate Planning Firm

A couple establishes a revocable Living Trust to avoid probate and name a successor trustee.

  • They fund accounts and retitle the primary residence.
  • After signing and notarization, the trustee has clear authority to manage assets if incapacity occurs and to distribute property without probate delays.

Independent Trustee

An individual becomes successor trustee for a family trust created by a parent.

  • Trustee reviews asset schedule and obtains title transfers.
  • The trustee maintains records, coordinates tax filings, and distributes assets per trust instructions while preserving beneficiary privacy.

Key timing considerations and common post-execution deadlines

Certain tasks should follow execution promptly to ensure the trust functions as intended.

Immediate After Signing:

Record deeds and retitle accounts promptly to complete funding.

Property Funding:

Initiate deed transfers within weeks to avoid title issues.

Beneficiary Notices:

Provide required notices to beneficiaries when distributions or changes occur.

Annual Review:

Review trust terms annually or after major life changes.

Tax Filings:

File any required fiduciary or income tax returns on schedule.

Frequently asked questions about Living Trusts

Answers to frequent legal and practical questions about creating, funding, and updating a Living Trust.


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