This Revocable Living Trust Agreement, which has been prepared and approved by lawyers, is for use by a couple who wish to establish a joint living trust.
The agreement comes complete with step-by-step instructions on completing the living trust agreement; and will allow you and your partner to make a living trust quickly and easily without the need or expense of engaging your own lawyer.
It will enable you to:
- Avoid the delays and costs of probate.
- Manage your assets during incapacity.
- Leave money and property to your loved ones.
- Appoint alternate beneficiaries.
- Save money.
- And much more.
A revocable living trust agreement is an agreement between you (as “grantor”) and you (as “trustee”) of the living trust.
A grantor is simply the person who creates the living trust and transfers assets to it. The trustee is the person who receives the transfer of those assets on behalf of the trust, and them manages those assets on behalf of the beneficiaries named in the trust.
In your role as grantor, you can transfer assets to the living trust using a simple deed of assignment or, in the case of real estate, a deed of transfer. Once the transfers have been made, it’s over to the trustee to manage those assets.
By transferring assets out of your personal name and into the name of a living trust, they cease to be your assets. Although, as this is a revocable (as opposed to irrevocable – and that’s important) living trust, you can tell the trustee (i.e. yourself) to transfer the assets back to you any time you wish.
As the assets in the trust have ceased to be your assets (legal speaking), they cease to form part of your estate for probate purposes. As such, when you die, those assets will not be caught up in the probate process. Instead, somebody you name in the living trust agreement as a successor trustee (which is a little like an executor of an estate) distributes the trust assets to the beneficiaries named in the trust agreement (again, similar to the way a Last Will and Testament works). Fortunately, there is no court process to go though. So, unlike probate, the assets can be distributed to beneficiaries very quickly following the grantor’s death, and usually in the space of a few weeks.
Similar to the position with a will, you can use your revocable living trust to make gifts to loved ones (including the gift of specific trust assets and the residue or balance of the trust assets after all specific gifts have been made), provide for property guardians on behalf of young beneficiaries (including under UTMA provisions), and even provide for the management of the trust assets during any period in which you are incapacitated and unable to perform the role of initial trustee. In that instance, the ‘successor’ trustee named in the living trust agreement will have the power to step in and manage the assets on your behalf and help avoid any losses that might otherwise occur.
This Revocable Living Trust is Agreement is for a couple who are married or in a registered domestic partnership, and comes as a downloadable Word form. It also comes complete with guidance instructions on how to fill in and execute the agreement, as well with as a variety of sample clauses including UTMA custodianship and child trust provisions.
** Recommendation: If you are not completely familiar with making a living trust, we recommend that you purchase our Living Trust Kit instead. The kit not only contains all the forms necessary for you to make a living trust but also includes a detailed overview of all of the items you need to consider when making a living trust.
Why Choose EstateBee
We’re proud to have helped thousands of people make online wills, trusts and powers of attorney over the past 20 years.
- Save Money – Our service is simpler and cheaper than using a lawyer.
- Lawyer Prepared Documents – You will be using documents which have been prepared, reviewed and pre-approved by lawyers with years of estate planning experience.
- Compliant with US Laws – You will be using tried and tested legal documents specifically tailored to comply with the laws of each state in the United States (except Louisiana).
- Advanced Features – Your documents will contain advanced lawyer-approved provisions not usually found in standard run-of-the-mill documents you find online.
- 20 Years in Business – EstateBee was one of the first businesses to start selling estate planning documents online back in 2000.
- Trusted by Thousands – We have helped thousands of people to make wills, trusts, and powers of attorney over the past 20 years.
- Bank Level Security – Your information is encrypted and secured safely using the same encryption technology used by banks.
Managed by lawyers
EstateBee was founded in 2000 by, and is managed by, experienced lawyers who are recognised experts in their fields.
Easy to use
We use our 20+ years of experience to help you ﬁgure out what you really want in a simple jargon-free way.
Help at every stage
Our customers are everything to us. So, we provide help to you at every stage of the document creation process.
We’ve helped raise millions for charity through donations left in our customers’ wills…
Our expert team is here to help
- Expert support every step of the way
- Phone or send us a message online
- Phone lines open 9am-5pm ET, Monday to Friday
Confirm Your Email Address to Receive Your Discount
, thanks for joining EstateBee.
To receive your 20% discount code, you’ll need to verify your email address and activate your account.
We’ve sent an activation link to you by email to . Just click on the link in the email, confirm your details and you’re good to go.