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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 on this the day of , 20 , by and between of County, State of North Dakota, hereinafter referred to as the Trustor, whether one or more, 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 59-09-01 et. seq. of the North Dakota Century Code.

ARTICLE II

IDENTIFICATION

2. TRUSTOR AND BENEFICIARIES: The Trustors or Settlors of this trust are and , Husband and Wife, residing at , , North Dakota . As used herein, the term “Trustor” shall mean all trustors of this trust, whether one or more. The Trustors are married and parents of the following living children:

The Beneficiaries of the Trust during the lifetime of the Trustors is the Trustors. 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.

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 Exhibit “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. Trustor may execute such other documents as is necessary to effectuate the assignment of property to this Trust.

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.

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. The Trustee shall at all times and in all actions act as a fiduciary in good faith.

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:

11. INCAPACITY OF TRUSTOR:

12. RESERVATION OF RIGHTS: Except during periods of incapacitation as defined by this Trust Agreement, upon delivery to the Trustee of a written instrument, signed and acknowledged by the Trustor, the Trustor does hereby reserve during his or her lifetime the following rights:

(A) To revoke this Trust Agreement in its entirety and to recover any and all remaining property of the Trust after payment of all Trust administration expenses.

(B) To alter or amend this instrument in any and every particular at any time and from time to time.

(C) To change, at any time and from time to time, the identity or number, or both, of the Trustee and/or Successor Trustee.

(D) To withdraw from the operation of this Trust, at any time and from time to time, 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:

(A) Payments may be made directly to the beneficiary as an allowance.

(B) Payments may be made to the Guardian of the beneficiary.

(C) Payments may be made to a relative of the beneficiary.

(D) The Trustee may expending such income or principal directly for the beneficiary.

(E) Trustee shall be mindful of health, education, support, maintenance, comfort and welfare needs.

14. RESIDENCE:

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:

17. BENEFITS PAYABLE TO TRUST:

18. LIABILITIES OF TRUSTOR’S ESTATE:

19. TAXES:

20. ADDITIONAL DISTRIBUTIONS:

21. GIFTS:

ARTICLE IX

TRUSTOR’S DEATH

22. DISTRIBUTIONS:

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:

25. COMPENSATION:

26. BOND AND QUALIFICATIONS:

27. SUCCESSOR TRUSTEE(S):

28. REMOVAL OF SUCCESSOR TRUSTEES:

29. DELEGATION OF POWERS:

30. LIMITED AMENDMENT POWER:

31. RESIGNATION OF TRUSTEE:

32. NONLIABILITY FOR ACTION OR INACTION BASED ON LACK OF KNOWLEDGE OF EVENTS:

33. TRUSTEE AS BENEFICIARY:

34. WAIVER OF ACCOUNTING:

ARTICLE XI

TRUST ADMINISTRATION

35. ALLOCATION TO PRINCIPAL AND INCOME – SEPARATE TRUSTS:

36. ALIENATION:

37. TERMINATION OF TRUST:

38. ELECTIONS:

39. BENEFICIARY DESIGNATION:

40. CERTIFICATE OF TRUST:

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 , 20 , 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:

44. PERPETUITIES CLAUSE:

ARTICLE XII

TERMS AND DEFINITIONS

The terms below, as used throughout this Trust Agreement, shall have the following meaning

45. INCAPACITATED:

46. REHABILITATION:

47. GUARDIANSHIP:

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 North Dakota.

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", unless otherwise designated herein, 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 WITNESS WHEREOF

On this the day of , 20 , Trustor, and Trustee have signed this Instrument.

TRUSTOR

TRUSTOR

TRUSTEE

STATE OF NORTH DAKOTA

COUNTY OF

On this day of , in the year , before me personally appeared , known to me (or proved to me on the oath of ) to be the person who is described in and who executed the within and foregoing instrument, and acknowledged to me that executed the same.

(Seal)

Notary Public

Printed Name:

Commission Expires:

Schedule A

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

TOGETHER WITH:

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What a Revocable Living Trust Is and how it works

A Revocable Living Trust is a legal arrangement in which a grantor transfers ownership of assets into a trust managed by a trustee for the benefit of named beneficiaries while the grantor remains alive. It is revocable, meaning the grantor can modify or terminate the trust during lifetime. Properly funded, the trust can allow assets to pass outside probate, improve privacy, and provide continuity if the grantor becomes incapacitated. The trust instrument sets trustee powers, successor trustees, distribution rules, and any conditions for distributions.

Primary reasons people choose a Revocable Living Trust

A Revocable Living Trust commonly avoids probate, preserves privacy, enables incapacity planning, and allows for organized asset distribution. It also centralizes management of assets and can reduce delays and court costs after death.

Primary reasons people choose a Revocable Living Trust

Typical users and beneficiaries of a Revocable Living Trust

Revocable Living Trusts suit many family and personal estate planning scenarios; consider which profile matches your needs.

  • Older couples protecting assets and avoiding probate, prioritizing smooth transfer to surviving spouse or children.
  • Individuals with properties in multiple states seeking streamlined post-death transfers and reduced ancillary probate expenses.
  • Owners of closely held businesses or complex investment portfolios needing centralized management and continuity planning.

Choose terms, trustees, and successor arrangements that match your family structure, asset types, and long-term goals.

Core components included in a professional Revocable Living Trust

A complete trust includes named parties, trustee powers, successor provisions, funding instructions, distribution terms, and amendment or revocation language to preserve flexibility.

Grantor / Settlor

Identifies the person who creates and controls the trust, including legal name, tax ID if applicable, and capacity statements describing revocability and retained powers.

Trustee

Names the initial trustee and defines authority, duties, investment powers, distribution discretion, compensation, and limitations on self-dealing or related-party transactions.

Successor Trustee

Specifies one or more successor trustees and the triggering events for succession, plus interim arrangements for incapacity or temporary incapacity.

Beneficiaries

Lists primary and contingent beneficiaries, distribution timing (outright, staged, discretionary), and any spendthrift or protection provisions to limit creditor access.

Trust Property

Includes a schedule or exhibit describing assets to be held by the trust and instructions for transferring title to real estate, accounts, and personal property.

Amendment Clause

Explains how the grantor may amend or revoke the trust, required formalities for changes, and any required notice to beneficiaries.

Essential data elements to include in the trust document

Grantor Identity: Full legal name
Trust Name: Formal trust title
Trustee Details: Name and contact information
Beneficiary Info: Names and distribution shares
Asset Schedule: List of funded assets
Execution Dates: Signature and notarization dates

Step-by-step: execute and fund a Revocable Living Trust

Follow these sequential steps to create, execute, and fund a Revocable Living Trust properly.

  • 01
    Draft the trust: Prepare terms with attorney or template review.
  • 02
    Name trustees: Designate initial and successor trustees clearly.
  • 03
    Sign with formalities: Sign and notarize per state practice.
  • 04
    Fund the trust: Retitle assets and transfer account ownership.

How to set up an online completion and signing workflow

Configure a structured workflow to collect signatures, verify identity, and retain a complete audit trail.

Field Configuration
Authentication Email link or stronger MFA/SMS code
Signing Order Specify signer sequence and conditional routing
Document Template Lock core clauses; use conditional fields
Storage Location Encrypted cloud storage with audit trail

Digital signing and platform compatibility considerations

Choose a platform that supports secure e-signature, audit trails, and formats required by financial institutions or registrars.

  • Supported formats: PDF and DOCX
  • Integrations: Salesforce, NetSuite, Google Workspace
  • Authentication: Email, SMS, or advanced MFA

Consequences and legal risks from improper trust preparation

Unfunded Trust: Assets remain subject to probate
Invalid Execution: State formalities may void provisions
Beneficiary Conflicts: Ambiguous language leads to litigation
Tax Issues: Mistakes can trigger reporting problems
Notary Errors: Incorrect notarization delays recording
Outdated Terms: Old clauses may not reflect current law

Common mistakes people make when preparing a Revocable Living Trust

  • Failing to retitle real estate and accounts into the trust, leaving key assets outside the trust and subject to probate.
  • Using vague beneficiary descriptions (e.g., 'children') without identifying individuals, which creates ambiguity and potential disputes.
  • Neglecting successor trustee arrangements or contingency plans, causing administration delays if incapacity occurs.
  • Overlooking beneficiary tax consequences and failing to coordinate trust terms with existing beneficiary designations on retirement accounts.

How to amend or revoke a Revocable Living Trust

Use a controlled process to amend, restate, or revoke a trust to maintain continuity and avoid unintended gaps.

01

Review Trust:

Identify sections needing change and check governing law
02

Draft Amendment:

Prepare amendment or full restatement language
03

Signer Execution:

Grantor signs with required formalities
04

Notarize:

Notarize if state or institution requires
05

Retitle Assets:

Update asset titles that reference the trust
06

Distribute Copies:

Provide updated copies to trustees and institutions

Supporting documents, export formats, and certified copies

Collect and store related records in standard formats and include supporting schedules to ensure the trust functions as intended.

Supporting Schedules

Attach an asset schedule listing accounts, deeds, and personal property with account numbers or parcel IDs to simplify funding and institutional review.

Signing Certificates

Provide a notarized certificate of trust or trustee authority to banks and title companies instead of sending the full trust instrument when permitted.

Export Formats

Keep signed copies as PDF/A for long-term retention; maintain editable DOCX drafts separately for future amendments.

Certified Copies

Obtain certified copies from the trustee or recorder when institutions require proof of authority to transfer or manage assets.

Practical examples of how a Revocable Living Trust is used

Two concise scenarios show common trust uses and the outcomes they enable.

Family succession

A married couple creates a trust to avoid probate and ensure property transfers quickly to children on death.

  • They name a successor trustee to manage distributions.
  • The trust reduced probate costs, kept estate matters private, and ensured a named successor could access accounts immediately without court involvement.

Multistate property

An owner with homes in multiple states uses a trust to simplify transfers after death.

  • Real property titled to the trust avoids multiple ancillary probate proceedings.
  • Recording deeds into the trust in each county streamlined administration and lowered fees compared with separate state probate processes.

Who may sign and act for the trust

Grantor / Settlor

The person who creates the trust signs and retains revocation or amendment power while competent; the grantor typically executes the instrument and any amendment with required formalities under state law.

Trustee

The trustee accepts duties by signing any acceptance statements and then manages trust assets subject to fiduciary obligations and the trust terms; successor trustees sign when assuming authority.

Frequently asked questions about Revocable Living Trusts

Answers to common questions about enforceability, funding, signatures, and state-specific formalities for Revocable Living Trusts.


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