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Revocable Living Trust

Trust document allowing you to transfer assets during your lifetime, avoid probate, and maintain control as trustee until death or incapacity.

Instructions

Instructions

  • Grantor/Trustee: You are typically both the grantor (creator) and initial trustee
  • Successor Trustee: Name who takes over if you become incapacitated or die
  • Beneficiaries: Specify who receives trust assets and when (immediately, at certain age, etc.)
  • Trust Property: List all assets being transferred into the trust
  • Funding the Trust: After signing, retitle assets in the name of the trust (real estate requires a new deed)
  • Powers: Define the trustee's powers to manage, invest, and distribute trust assets
  • Revocation: As a revocable trust, you can amend or revoke it at any time during your lifetime
  • Note: A living trust only works if you fund it — transfer your assets into the trust. Unfunded trusts provide no benefit.