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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 Montana, 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 Sections 72-38-601 et seq. of the Montana Code.

ARTICLE II
IDENTIFICATION

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

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

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.

(A) TRUST ASSETS: The Trustee is hereby authorized and granted all powers necessary to retain as a permanent investment of the Trust, or for such time as the Trustee shall deem advisable, the original assets of the Trust and all other property later transferred, devised or bequeathed to the Trustee, without liability for loss or depreciation resulting from such retention.

(B) NONPRODUCTIVE ASSETS: The Trustee is hereby granted all powers and authority necessary to hold uninvested cash, and to retain, acquire, and hold unproductive realty or personalty for any periods deemed advisable by the Trustee.

(C) INVESTMENT POWERS: The Trustee is hereby granted all powers necessary to invest and reinvest any and all of the property of the Trust in any and all types of property, security or other asset deemed by the Trustee to be in the best interests of the Trust as a whole.

(D) SECURITIES: The Trustee is specifically authorized, in his or her discretion, to maintain brokerage margin accounts, to buy, sell or transfer options, warrants, puts, calls, commodities, futures contracts, and repurchase contracts.

(E) ADDITIONAL PROPERTY: The Trustee is specifically authorized to receive additional property from any source and to hold and administer this property as part of the Trust Estate.

(F) SELL AND LEASE: The Trustee is hereby granted all powers necessary to sell, convey, lease, transfer, exchange, grant options to purchase or otherwise dispose of any Trust asset on any terms deemed by the Trustee to be in the best interests of the Trust.

(G) INSURANCE: The Trustee is specifically authorized to insure Trust property and assets with any insurer against any hazards, foreseeable or unforeseeable, including public liability.

(H) BORROWING AND LENDING: The Trustee is specifically authorized to lend Trust funds to any borrower, on any terms deemed advisable, and to borrow whatever money the Trustee deems desirable for any Trust on any terms from any lender.

(I) MODIFICATION OF TERMS: The Trustee is specifically authorized to initiate or change the terms of collection or of payment of any debt, security, or other obligation of or due to any Trust.

(J) CLAIMS: The Trustee is hereby granted all powers necessary to compromise, adjust, arbitrate, sue on, defend, or otherwise deal with any claim.

(K) DISTRIBUTIONS: The Trustee is specifically authorized to distribute any shares of the Trust in cash or in property, or partly in each.

(L) NOMINEE: The Trustee is specifically authorized to hold any or all of the Trust assets in the Trustee's own name or the name of any nominee.

(M) FORECLOSURE: The Trustee is specifically authorized to foreclose on any mortgage, to bid on the mortgaged property at the foreclosure sale, or acquire mortgaged property without foreclosure.

(N) ENCUMBRANCES: The Trustee may pay off any encumbrance on any Trust asset and may invest additional amounts of money in the asset, as the Trustee deems appropriate.

(O) VOTING: The Trustee may vote stock for any purpose, either in person or by proxy, may enter into a voting trust, and may participate in corporate activities.

(P) REORGANIZATION: The Trustee is hereby granted all powers necessary to unite with other owners of property similar to any property held in this Trust.

(Q) PURCHASE FROM ESTATE OR TRUST: The Trustee is specifically authorized to purchase property of any type from a Trustor or beneficiary's estate or Trust for their benefit.

(R) ASSISTANTS AND AGENTS: The Trustee is hereby granted all powers necessary to employ any person or persons the Trustee deems advisable for the proper administration of any Trust.

(S) RESERVES: The Trustee is hereby authorized to set aside and maintain reserves for the payment of present or future expenses.

(T) MANAGEMENT OF REALTY: The Trustee is specifically authorized to deal with real and personalty, including oil, gas, and mineral rights.

(U) BUSINESS: With respect to any business that is part of or may become part of any Trust, the Trustee is hereby granted the authority to hold, retain and continue to operate such business solely at the risk of the Trust estate.

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, 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.

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;

(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 upon agreement.

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

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

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 any or all of the Trustor’s just debts, funeral expenses, and administration expenses.

19. TAXES: Upon the death of the Trustor, all estate and inheritance taxes that become due and payable 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.

21. GIFTS: This provision is governed by Montana Code Section 72-38-606.

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.

(a) DISTRIBUTION UPON DEATH OF FIRST TRUSTOR: Following the death of the first Trustor, the Trustee shall pay to or for the benefit of the Surviving Spouse, at the Trustee’s discretion, so much of the income and principal as the Trustee deems necessary.

(b) DISPOSITION OF TRUST ESTATE ON DEATH OF SURVIVING TRUSTOR: If the child of the Trustor survives the Surviving Trustor, the trustee shall distribute the Trust property to the child of the Trustor.

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

(d) SPRINKLING TRUST FOR ISSUE: Each share or portion of the Trust estate that is allocated to a Sprinkling Trust for Issue shall be held, administered, and distributed by the Trustee as a separate Trust.

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.

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: A trustee who has exercised reasonable care to ascertain the happening of the event 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 and allocations.

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 and distribute the assets.

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.

41. REGISTRATION OF TRUST ASSETS: , 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 .

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 who was alive when the Trustor died.

ARTICLE XII
TERMS AND DEFINITIONS

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

45. INCAPACITATED: For the purposes of this Trust Agreement, if a Trustee or a beneficiary is under a legal disability or unable to properly manage his or her affairs, he or she shall be deemed incapacitated.

46. REHABILITATION: For the purposes of this Trust Agreement, a Trustee or a beneficiary shall be deemed rehabilitated when he or she is no longer under a legal disability or 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 Montana.

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, and vice-versa.

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.

SIGNATURES

IN WITNESS WHEREOF, on this the day of , 20 , Trustor, and Trustee have signed this Instrument.

TRUSTOR

TRUSTOR

TRUSTEE

STATE OF MONTANA

COUNTY OF

The instrument was acknowledged before me on by .

Notary Public

Printed Name:

My Commission Expires:

THE REVOCABLE LIVING TRUST

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 functions

A Revocable Living Trust is a legal arrangement in which the grantor transfers ownership of assets into a trust they control while alive and retains the right to amend or revoke it. The grantor names a trustee to manage trust assets for beneficiaries during life and after death, enabling successor administration without probate in many cases. Because the trust is revocable, the grantor keeps management and distribution flexibility, can modify beneficiaries, and can specify incapacity provisions and successor trustee powers to avoid court-supervised conservatorship.

Primary reasons people use a Revocable Living Trust

A Revocable Living Trust provides flexible control over assets, potential avoidance of probate, privacy for distributions, and a mechanism for seamless management if the grantor becomes incapacitated. It is particularly useful for coordinating real property, financial accounts, and complex family arrangements while preserving the ability to change terms.

Primary reasons people use a Revocable Living Trust

Who typically sets up a Revocable Living Trust

People and households create Revocable Living Trusts for different practical reasons depending on assets, family structure, and planning goals.

  • Individuals with real estate and investable assets who want to avoid probate and preserve privacy.
  • Owners of businesses or interests who need continuity planning and successor management.
  • Parents with minor children, blended families, or special-needs beneficiaries seeking tailored distribution rules.

Professional advisors—estate attorneys, financial planners, and trust officers—often assist with drafting, funding, and verifying that trust assets are properly retitled into the trust.

Representative user profiles

Retiree

A retired individual with real estate, investment accounts, and a Medicare‑age spouse uses a Revocable Living Trust to name successor trustees, coordinate beneficiary designations, and simplify asset transfers to heirs while remaining able to change the trust during lifetime.

Small Business Owner

A business owner places real property and ownership interests into a trust to provide continuity if incapacitated, designate a successor manager, and reduce probate steps for family members inheriting the business interest.

Core sections a professional Revocable Living Trust should include

A professionally drafted Revocable Living Trust clearly sets out grantor rights, trustee powers, distribution instructions, incapacity mechanisms, funding language, and termination clauses to minimize ambiguity and administration time.

Revocability

Explicit language stating the grantor's right to modify or revoke the trust at any time while competent and specifying the procedure for amendment or revocation.

Trustee Powers

Detailed authority for trustees (investment, distribution, sale, tax elections) and limitations to reduce disputes and align with grantor intent.

Distribution Scheme

Clear instructions for initial distributions, remainder distributions, contingent beneficiaries, and conditions tied to age, purpose, or milestones.

Incapacity Provisions

Mechanisms to determine incapacity and grant successor trustees authority to manage property without court guardianship or conservatorship.

Funding Clauses

Directions on how to transfer assets into the trust, required deeds or account retitling, and what constitutes effective funding.

Tax & Reporting

Statements addressing tax treatment, EIN use for the trust if required, and trustee duties for reporting and recordkeeping.

Step-by-step process to complete and activate your trust

Follow these practical steps in order to ensure the trust is valid, funded, and administratively enforceable without court involvement.

  • 01
    Gather documents: Collect deeds, account statements, titles, and IDs for all assets you plan to transfer.
  • 02
    Draft terms: Work with counsel or use a vetted template to write clear trustee and beneficiary instructions.
  • 03
    Sign and notarize: Execute signature requirements per state law and obtain notarization if required for asset transfers.
  • 04
    Fund the trust: Retitle assets or record deeds to the trust name to make the trust operational.

Execution and administration flow for a Revocable Living Trust

These four stages summarize how a trust moves from creation to administration and eventual distribution to beneficiaries.

  • Drafting: Define grantor intent, trustee powers, distributions, and incapacity instructions.
  • Execution: Grantor signs; notarization or witness rules applied as required by state law.
  • Funding: Retitle accounts and record deeds into the trust's name to transfer legal ownership.
  • Administration: Successor trustees manage or distribute assets according to trust provisions following grantor incapacity or death.

Typical digital workflow settings for preparing and signing a trust

Configure eSignature, authentication, and storage settings to meet legal and administrative requirements for trust documents.

Field Configuration
eSignature Provider signNow | Audit trail, AES‑256 at rest, TLS in transit
Authentication Email + SMS | Optional KBA or two‑factor authentication
Document Format PDF | Use final PDF/A for archival and notarization compatibility
Storage Location Secure cloud | SSO-enabled folder with role-based access

Technical considerations for eSigning and storing trusts

Choose a platform that supports required file formats, audit trails, and industry integrations to reduce friction during signing and funding.

  • Format Support: PDF, DOCX, HTML compatibility
  • Integrations: Salesforce, NetSuite, Google Workspace
  • Authentication: Email, SMS, optional KBA

Ensure the chosen platform provides tamper-evident storage, exportable signed PDF/A copies, and an auditable access log to meet legal and administrative obligations when trustees or beneficiaries request records.

Essential data elements and secure recordkeeping for the trust

Trust Name: Unique trust identifier
Grantor/Settlor: Full legal name
Trustee(s): Primary and successor trustees
Beneficiaries: Names and distribution terms
Trust Assets: Detailed asset descriptions
Execution Data: Signatures, dates, notarization

Common legal and administrative risks if a trust is incorrect

Invalid Signature: May lead to contested validity
Improper Funding: Assets may pass through probate
Ambiguous Terms: Triggers trustee disputes
Wrong Trustee: Complicates administration
Missing Notarization: May impede recording
State Law Conflict: Could invalidate provisions

Frequent preparation mistakes to avoid

  • Failing to retitle real property or accounts into the trust, leaving assets subject to probate and defeating the trust purpose.
  • Neglecting to coordinate beneficiary designations on retirement plans or life insurance, which can override trust terms.
  • Using vague distribution language (e.g., 'reasonable support') that invites interpretation disputes and trustee litigation.
  • Not updating the trust after marriage, divorce, or the birth of children, causing unintended beneficiaries or gaps.

Practical examples from organizations that manage estate documents

These brief examples show how organizations and users rely on clear execution and digital workflows to complete estate-related documents.

Optica Ventures LLC — Brian Fitzgibbons, COO

Their team needed simple, user-friendly signing processes

  • "The interface is simple and easy-to-use for our team; more importantly, it is just as easy for our customers."
  • They used consistent digital workflows to reduce turnaround time and improve client compliance when transferring property interests into trust accounts.

Martin Properties — Tim Martin, Founder

A real estate operator required mobile signing and secure offline options

  • "I can process and execute all of these documents online with 100% compliance and built-in security."
  • Mobile and offline-capable signing reduced site delays when closing on real property transfers into trust ownership.

Timing and review milestones for trust setup and maintenance

A schedule helps ensure the trust is effective immediately and remains current with life and asset changes.

Execute Trust Document:

Sign and notarize on chosen Effective Date to activate terms

Fund Real Property:

Record deeds promptly after execution to transfer title

Review Beneficiaries:

Update after major life events or every 3–5 years

Periodic Trustee Review:

Trustees should review investments and tax status annually

Termination or Distribution:

Follow trust-specified timing and conditions at termination

Representative eSignature provider comparison for executing trust documents

Platform pricing and capabilities vary; signNow is listed first for comparison across common feature criteria without a date stamp in this content.

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 Varies by plan Varies by plan Varies by plan Varies by plan
Bulk Send Yes (Premium) Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Varies by plan Varies by plan Varies by plan Varies by plan
Envelope Cap No cap 100 envelopes/user/year Varies Varies Varies

Frequently asked questions about completing and relying on a Revocable Living Trust

Answers to common questions focus on legal validity, notarization, eSignature use, funding, and recordkeeping for Revocable Living Trusts.


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