Revocable Living Trust Agreement (Couple)
This revocable living trust agreement, which has been prepared and approved by lawyers, is for use by a couple who wish to create a joint living trust. It is an agreement between the couple as “grantors” and the couple as “trustees” of their joint living trust.
In your role as grantors, you can each transfer assets to your living trust. Once the transfers have been made, you then jointly manage those assets in your capacities as trustees of the trust and can continue to use them much as you did before the transfers.
By transferring assets out of your personal names and into the name of a living trust, they cease to be your assets and cease to form part of your estates for probate purposes.
When one of you die, the assets he or she transferred to the trust will not be caught up in the probate process. Instead, the surviving trustee can quickly distribute them to the beneficiaries named in the trust agreement. When the surviving trustee dies, somebody you name in your living trust agreement as a ‘successor trustee’ (which is a little like an executor of an estate) can quickly distribute the remaining trust assets to the beneficiaries named in the trust agreement, again free from the expenses and delays associated with probate.
As this is a revocable living trust, you can terminate the trust arrangement at any time and transfer the assets back into your own names.
Your online revocable living trust enables you to:
- Avoid probate of your trust assets
- Manage your property during incapacity
- Leave gifts to your loved ones
- Save on legal fees
- Make property management provisions for minors
- Provide privacy for your loved ones
- Create trusts for individuals or couples
- And much more
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