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Revocable Living Trust

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REVOCABLE LIVING TRUST AGREEMENT

THIS REVOCABLE LIVING TRUST AGREEMENT, (hereinafter "Trust"), is being made this day of , 20 , by and between of , County, , as the Trustor, and serving as Trustee.

ARTICLE I

INTRODUCTION

(A) TRUST PURPOSE: Any person shall deal with the Trustee without the approval of any court, the Trustor, or any beneficiary of any Trust created by this Trust, and shall assume that the Trustee has the same power and authority to act as an individual does in the management of his or her own affairs. Further, any person presented with a copy of this page and any other page of the Trust shall accept same as conclusive proof of the terms and authority granted by this Trust, and shall assume that no conflicting directions or terms are contained in the pages omitted.

(B) TRUST ASSETS: , as Trustor, does hereby assign, convey and deliver to the Trustee, all of the Trustor's right, title, and interest in and to all real and personal property, tangible or intangible, of any nature, in any location, which may be owned by the Trustor or later acquired by the Trustor, unless an exception to the conveyance of a particular property interest is made on Schedule A.

(C) ABSTRACT OF TRUST: In order to facilitate the convenient administration of the Trust, including the registration and transfer of assets to and from the Trust, the Trustee shall have the power to execute an Abstract of Trust describing any Trust matter, including but not limited to a description of the Trust terms, the administrative powers of the Trustee and the identity of any current Trustee.

(D) SUGGESTED TRUST REGISTRATION: During the life of the Trustor, assets may be registered to the Trust as follows: , Trustee, or his or her successors in trust, under THE REVOCABLE TRUST dated the day of , 20 , and any amendments thereto.

(E) TAX IDENTIFICATION: During the life of the Trustor, the Trust shall be identified by the Trustor's Social Security Number.

ARTICLE II

ADMINISTRATION DURING THE LIFE OF THE TRUSTOR

(A) TRUSTEE: The Trustee of this Trust shall be the Trustor, . If the Trustee cannot continue to serve for any reason, the Successor Trustee shall be , and if he or she shall be not willing and/or able, then shall serve as the Successor Trustee.

(B) DISPOSITION OF INCOME AND PRINCIPAL:

(1) AT THE DIRECTION OF THE TRUSTOR

The Trustee shall manage the property of the Trust estate, collect the income, and shall pay from the income of the Trust such amounts and to such persons as the Trustor may from time to time direct.

In addition, the Trustee shall pay from the principal of the Trust such amounts and to such persons as said Trustor may direct. In the absence of direction, the Trustee may pay from the principal of this Trust such amounts as may be necessary for the health or maintenance of the standard of living of .

(2) DURING THE INCAPACITY OF THE TRUSTOR

In the event is incapacitated as defined by this Trust Agreement, the Successor Trustee may apply or expend all or a part of the income and principal of this Trust, or both, for the health and maintenance of in his or her accustomed manner of living.

(C) RIGHT TO ADD TO PRINCIPAL The Trustor, , or any other person may, at any time and from time to time add property acceptable to the Trustee to the Trust.

(D) RIGHT TO REVOKE AND AMEND The Trustor, , reserves the right while alive, except any period when incapacitated, at any time and from time to time, by an instrument in writing, signed, acknowledged, and delivered to the Trustee:

(1) To revoke this instrument entirely and to receive from the Trustee all property remaining after making payment or provision for payment of all expenses connected with the administration of this Trust,

(2) From time to time to alter or amend this instrument in any and every particular,

(3) From time to time to change the identity or number, or both, of the Trustee and/or Successor Trustee,

(4) From time to time to withdraw from the operation of this Trust any or all of the Trust property.

ARTICLE III

ADMINISTRATION AFTER THE DEATH OF THE TRUSTOR

(A) TRUSTEE: The Trustee (meaning the Successor Trustee then acting as Trustee), shall continue to administer the assets of this Trust as well as any property received by this Trust under the terms of the Trustor's will or from any other source to the extent it is included in the Trustor's gross estate for Federal Estate Tax purposes, and shall distribute said assets as provided below.

(B) COLLECTION OF PROCEEDS: The Trustee may take such action as is necessary to collect the proceeds of any life insurance policy, or provide for the payment of retirement plan, IRA, or other benefits payable to the Trust.

(C) DEBTS AND EXPENSES: The Trustee may, in the Trustee's sole and absolute discretion, pay to the estate of the Trustor from the principal or income of the Trust prior to distribution to any trusts created hereunder or any other distributee, such amounts as may be needed to pay all or any part of the deceased Trustor's just debts, funeral expenses, and the administration expenses of the Trustor's estate.

(D) DEATH TAXES: The Trustee shall pay to the estate of the deceased Trustor or the appropriate tax authorities all estate and inheritance taxes that may become payable by reason of the Trustor's death.

(E) DISTRIBUTIONS TO THE TRUSTOR'S ESTATE: In addition to the distributions provided for in paragraphs C and D of this Article, the Trustee may 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.

(F) SPECIFIC GIFTS OF TANGIBLE PERSONAL PROPERTY: Upon the death of the Trustor, the Trustee shall make such gifts of the tangible personal property of the Trustor held or acquired by the Trust as may be directed by the Trustor's Will or as may be directed by Schedule B of this Trust.

ARTICLE IV

DEATH OF THE TRUSTOR

(A) DISTRIBUTIONS AND DISBURSEMENTS: Upon the death of the Trustor, and after the payment of the Trustor's just debts, funeral expenses and expenses of last illness, and the disbursements listed in Article III of this Trust, the following distributions shall be made:

I leave all the rest and remainder of the trust property to .

(B) DEATH OF BENEFICIARY BEFORE COMPLETE DISTRIBUTION OF TRUST ASSETS: In the event the Beneficiary dies before a complete distribution of his Trust is made, then their share shall go to:

(C) PERPETUITIES CLAUSE: Notwithstanding any provision of this Trust to the contrary, all Trusts shall vest in their then beneficiary twenty-one years after the death of the last of the issue of the Trustor who was alive when the Trustor died.

ARTICLE V

INCAPACITY, REHABILITATION, AND GUARDIANSHIP

(A) "INCAPACITATED" If , as a Trustee or a beneficiary, is under a legal disability or by reason of illness, or mental or physical disability is, in the written opinion of two doctors currently practicing medicine, unable to properly manage his or her affairs, he or she shall be deemed incapacitated for the purposes of this Trust Agreement.

(B) "REHABILITATION" as a Trustee or as a beneficiary, once deemed incapacitated under Paragraph (A) of this Article, 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 affairs.

(C) "GUARDIANSHIP" In the event the Trustor is adjudicated incompetent by any court having jurisdiction, pursuant to Statutes or similar provisions of the laws of any other state having jurisdiction, the Trustor does hereby nominate the same person(s) in name and order of succession who serve as Trustee as provided in Article II(A) as Guardian of the property of the incompetent Trustor.

ARTICLE VI

PROVISIONS REGARDING THE TRUSTEE

(A) GENERAL PROVISIONS: The Trustee shall have all the powers and protection granted to Trustees by statute at the time of application, including all of the powers enumerated below or contained in any Certificate of Trust signed by the Trustor.

(B) SPECIFIC POWERS OF THE TRUSTEE: Includes, among other powers, the ability to retain trust estate, hold uninvested cash and underproductive property, invest and acquire, use options and margin accounts, exercise conversion privileges, receive additional property, sell and lease, insure, lend, borrow, compromise claims, distribute in cash or property, use nominees, foreclose, pay encumbrances, vote stock, participate in reorganization, purchase property from estate or trust, employ assistants and agents, establish reserves, manage realty, and carry on business.

(C) DEALINGS WITH THE TRUSTEE: Any person who deals in good faith with the Trustee shall deal only with the Trustee and shall presume that the Trustee has full power and authority to act.

(D) COMPENSATION OF TRUSTEE: Any Trustee who is also a beneficiary hereunder shall serve without compensation except reimbursement for reasonable expenses.

(E) BOND AND QUALIFICATIONS: No bond shall be required of the Trustee or any Successor Trustee.

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

(G) REMOVAL OF SUCCESSOR TRUSTEES: In the event a Successor Trustee is administering any Trust created hereunder, the Successor Trustee may be removed by the last individual to serve as Trustee or by a majority vote in interest in Trust income under certain conditions.

(H) DELEGATION: Any Trustee may delegate any management function of any Trust to any other Successor Trustee upon such terms as may be agreed by the Trustees.

(I) LIMITED POWER TO AMEND: The Trustee may amend this Trust to create or renounce management powers as may be required to facilitate the convenient administration of this Trust.

ARTICLE VII

ADMINISTRATIVE PROVISIONS

(A) CARRYING SEVERAL TRUSTS AS ONE ESTATE: To the extent that division of any Trust is directed, the Trustee may administer any Trust physically undivided until actual division becomes necessary.

(B) ALLOCATION TO PRINCIPAL AND INCOME: All receipts of money or property paid or delivered to the Trustee and all expenses may be allocated to principal or income in accordance with the laws of the State of or any other state in which a Trust is being administered.

(C) PROHIBITION OF ALIENATION: 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.

(D) SMALL TRUST TERMINATION: If, at any time, any Trust shall be in the aggregate principal value of Ten Thousand Dollars ($10,000.00) or less, the Trustee may terminate such Trust and distribute the assets to the beneficiary.

(E) DISCLAIMER: Any beneficiary of any Trust shall have the right to disclaim his or her interest in said Trust.

(F) ELECTIONS: The Trustee and the Personal Representative of the Trustor's estate may make certain elections for Federal Income Tax and Estate Tax purposes.

(G) CERTAIN DISTRIBUTIONS: The Trustee shall have the following options with regard to the distribution of principal or income to or for a beneficiary.

(H) USE OF RESIDENCE: The Trustee may purchase or hold a residence to be occupied by the income beneficiary of any Trust without rent.

(I) DESIGNATION OF BENEFICIARY: The Trustee shall act upon any written designation of a beneficiary by a Trustor for qualified plan or IRA benefits made payable to this Trust.

(J) INVESTMENT ADVISOR: The Trustor or any person then having the power to remove and replace a corporate Trustee may appoint an investment advisor duly registered with the Securities Exchange Commission.

ARTICLE VIII

MISCELLANEOUS PROVISIONS

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

(B) LAW: This Agreement shall be construed and regulated in all respects by the laws of the State of .

(C) 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.

(D) 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.

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

(F) 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.

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

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

(I) MERGER: The doctrine of merger shall not apply to any interests under any Trust.

(J) 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.

ARTICLE IX

POWER OF ATTORNEY

By virtue of the signing of this Trust below, the Trustor makes the following appointments of Attorneys-in-Fact:

(A) FOR FINANCIAL MATTERS: The Trustor appoints , as Attorney-in-Fact for the Trustor. In the event that is unable or unwilling to so serve, then shall serve in such capacity.

(B) FOR CARE OF THE TRUSTOR: The Trustor first appoints , and , jointly if then alive and competent, and then either of them individually, as Attorney-in-Fact to make any and all decisions regarding the personal care of the Trustor during any period when the Trustor may be incapacitated.

(C) DURABILITY: In the hands of a qualified holder, the appointments above shall create a durable family power of attorney.

IN WITNESS WHEREOF, on this the day of , 20 , has signed this instrument as Trustor, and has signed this Instrument as Trustee, to evidence acceptance of the Trust Agreement.

TRUSTOR

TRUSTEE

STATE OF

COUNTY Of

, Trustor and Trustee, being first duly sworn, does hereby declare to the undersigned officer/notary public that the Trustor signed the instrument as the Trustor's Revocable Trust Agreement, that the Trustee accepted this instrument as such, that the Trustor and Trustee signed the Trust Agreement as their voluntary act and deed on the date and year shown therein.

TRUSTOR

TRUSTEE

SUBSCRIBED and sworn before me by , the Trustor and Trustee, on this the day of , 20 .

NOTARY PUBLIC

My commission expires:

SCHEDULE A

THE REVOCABLE TRUST

Schedule A

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

TOGETHER WITH:

SCHEDULE B

SEPARATE WRITTEN STATEMENT DISPOSING OF TANGIBLE PERSONAL PROPERTY OF

My Living Trust, executed on , 20 , refers to a written statement separate from my Living Trust that provides for the disposition of my nonbusiness tangible personal property.

Item of Tangible Personal Property Name and Address of Person to Receive the Property

Date

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What a Revocable Living Trust Is and When It Applies

A Revocable Living Trust is a legal arrangement in which a settlor transfers assets into a trust during their lifetime, retains the right to modify or revoke the trust, and designates a successor trustee to manage or distribute assets on incapacity or death. Unlike a will, it can avoid probate for assets titled in the trust, provide continuity of asset management if the grantor becomes incapacitated, and allow private administration. It does not generally shield assets from creditors or remove the grantor's tax obligations while the grantor is alive.

Why Use a Revocable Living Trust

A Revocable Living Trust simplifies transfer of titled assets at incapacity or death, can avoid probate, preserves privacy, and streamlines successor trustee authority while allowing the grantor to retain control and amend terms as circumstances change.

Why Use a Revocable Living Trust

Who Typically Creates or Signs a Revocable Living Trust

The Revocable Living Trust is commonly used by individuals and families seeking streamlined asset management, continuity of ownership, and private post-mortem transfer outside probate.

  • Older adults and retirees who want a plan for incapacity and to avoid probate delays
  • Homeowners transferring real estate into a trust to simplify title management
  • Families with minor or special-needs beneficiaries needing controlled distributions

Professional advisors—estate attorneys, financial planners, and sometimes trust officers—often assist with drafting, funding, and executing the trust to ensure legal formalities are met.

Core Elements of a Professional Revocable Living Trust

A complete Revocable Living Trust includes clauses and schedules that define parties, powers, asset lists, successor arrangements, incapacity planning, and amendment/revocation procedures to ensure clarity and enforceability.

Grantor/Settlor

Identifies the person who creates and funds the trust and retains revocation rights; include full legal name and capacity statements.

Trustee Powers

Specifies the trustee's powers to invest, sell, lease, and manage assets, including discretionary distribution authority and successor appointment rules.

Beneficiaries

Names primary and contingent beneficiaries, distribution timing, conditions, and mechanisms for replacements or descendants' shares.

Funding Schedule

Lists assets placed into the trust (real property, accounts, securities) and directions for titling or beneficiary designation changes.

Incapacity Provisions

Defines incapacity standards, trustee powers during incapacity, and any required physician or professional determinations.

Amendment & Revocation

Outlines how the grantor may amend or revoke the trust, including execution formalities, notice to trustees, and effective dates.

How to Complete a Revocable Living Trust, Step by Step

Follow these four practical steps to draft, fund, and activate a Revocable Living Trust while maintaining legal formality and minimizing avoidable errors.

  • 01
    Draft Terms: Work with counsel or use a vetted template to define beneficiaries, trustee powers, and distribution rules.
  • 02
    Name Trustees: Designate immediate and successor trustees with contact information and alternates.
  • 03
    Fund the Trust: Retitle assets (deeds, accounts) or assign beneficiary designations to place property into the trust.
  • 04
    Execute Properly: Sign in the presence of required witnesses/notary and retain original; keep copies with estate documents.

Where to Send or File Trust Documents

Trust documents are not typically filed with a court unless probate or a related dispute arises; instead, distribute executed originals to trustees, banks, and recorders as needed.

  • Trustee Copy: Provide original or certified copy to successor trustees for administration and access to assets.
  • Title Transfer: Record deeds transferring real estate into the trust with county recorder where property is located.
  • Financial Institutions: Send certified trust document and signature pages to banks and brokerages to retitle accounts.
  • Safe Storage: Retain original in a secure place (safe deposit, attorney trust file) and give copies to trusted advisors.

How to Set Up an Online Signing and Funding Workflow

Configure e-signing, notarization, and document storage settings before sending trust documents to ensure legal compliance and a clear audit trail.

Field Configuration
Signature Type Wet ink, e-signature, or RON based on state and institution requirements
Notarization In-person notary or Remote Online Notarization (if accepted by state)
Authentication Email + SMS code, ID verification, or knowledge-based authentication
Recordkeeping Secure PDF/A storage and tamper-evident audit trail

Digital Signing and eSubmission Considerations

Choose an eSignature workflow that supports required notarization, strong signer authentication, and long-term storage with an audit trail.

  • Integrations: Supports common platforms like Microsoft 365, Google Workspace, NetSuite, and cloud storage providers for routing and storage
  • Authentication: Offers email, SMS, ID verification, or KBA for higher-assurance signer identification
  • Document Formats: Accepts PDF, DOCX, and preserves signature metadata for record retention

Maintain the executed original per state law; use certified electronic copies and preserved audit logs for administrative convenience and legal reproducibility.

Risks and Legal Consequences of Improper Trust Execution

Undesirable Distributions: Poorly drafted provisions can cause unintended beneficiary outcomes or litigation.
Invalid Funding: Failure to retitle assets leaves property outside the trust and subject to probate.
Notarization Defects: Missing or improper notarization may invalidate deeds or create title transfer issues.
Tax Exposure: Incorrect asset reporting can trigger IRS scrutiny or missed tax elections.
Challenges: Heirs may contest the trust based on capacity or undue influence claims.
Recordkeeping Failures: Poor records complicate successor administration and may breach fiduciary duties.

Common Mistakes When Preparing a Revocable Living Trust

  • Failing to fund the trust: leaving property titled in individual name undermines probate avoidance
  • Using vague beneficiary language: ambiguous terms invite disputes and court interpretation
  • Skipping successor alternates: not naming backups can create administration gaps
  • Ignoring institutional requirements: banks or title companies may refuse unnotarized or uncertified copies

Practical Tips for Accurate and Efficient Trust Completion

Adopt these practices to reduce friction during execution, funding, and successor administration.

Use precise identifiers
Include full legal names, dates of birth, and addresses for trustees and beneficiaries to avoid misidentification and administrative delays.
Record asset details
Attach an asset schedule with addresses, account numbers, and tax IDs so institutions can verify and retitle quickly.
Confirm notary/RON rules
Check state notary requirements and whether RON is accepted for your trust or deed recordings before scheduling signing.
Keep originals secure
Store the original executed trust in a secure location and provide certified copies to successor trustees and advisors.

Essential Information to Include in the Document

Grantor Name: Full legal name
Trust Identifier: Unique trust name and date
Trustee Details: Name and contact information
Beneficiary Details: Names and distribution terms
Asset Descriptions: Addresses, account numbers
Execution Data: Signature dates and notarization

Who Signs and What Authority They Hold

Grantor / Settlor

The grantor signs to create and control the trust; their signature typically must be notarized per state requirements and may require witnesses depending on the asset type being transferred.

Trustee / Successor Trustee

Trustee signatures are required when accepting trusteeship, retitling assets, or executing transactions on behalf of the trust; successor trustees act under the fiduciary powers defined in the trust instrument.

Realistic Use Scenarios for a Revocable Living Trust

These two scenario summaries show typical ways people use a Revocable Living Trust to manage assets and ease transition.

Family Succession Planning

A married couple funds a trust to hold their primary residence and investment accounts

  • Successor trustees step in on incapacity to manage bills and assets
  • At death, assets pass to children outside probate using the trust's distribution schedule, reducing delay and keeping estate affairs private.

Real Estate Holding

A homeowner places one or more rental properties into a revocable trust

  • Trustee powers allow ongoing property management without court intervention
  • When the grantor becomes incapacitated or dies, the successor trustee continues leasing and collects rents while avoiding a probate transfer of title.

eSignature Platform Pricing Comparison for Trust Execution Workflows

Compare basic pricing and compliance features to select an eSignature provider that supports notarization, secure storage, and HIPAA or legal compliance where required.

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 free trial, no credit card required No No Yes, limited Yes, limited
Bulk Send Yes Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No

Frequently Asked Questions About the Revocable Living Trust

Answers to common execution, funding, and enforceability questions to help avoid processing delays and administration issues.


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