Revocable Living Trust Agreement (One Individual)
This revocable living trust agreement, which has been prepared and approved by lawyers, is for use by an individual. It is an agreement between you as “grantor” and you as “trustee” of your living trust. In your role as grantor, you can transfer assets to your living trust. Once the transfers have been made, you then manage those assets in your capacity as trustee of the trust and can continue to use them much as you did before the transfers.
By transferring assets out of your personal name and into the name of a living trust, they cease to be your assets and cease to form part of your estate for probate purposes. When you die, those assets will not be caught up in the probate process. Instead, 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 trust assets to the beneficiaries you have named in your trust agreement – 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 name.
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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