REVOCABLE/IRREVOCABLE LIVING TRUST
THIS REVOCABLE/IRREVOCABLE LIVING TRUST AGREEMENT, made on
this……………day of…………………………2023, by and between [YOUR NAME], of [INSERT
COUNTY NAME], in the State of [INSERT STATE NAME] hereinafter referred to as the Grantor
and the Trustee designated below and shall be governed and administered in accordance with
the following provisions:
ARTICLE 1: NAME OF TRUST
This Trust may be referred to as THE [INSERT NAME OF TRUST]
REVOCABLE/IRREVOCABLE LIVING TRUST (hereinafter “the Trust”) and is created in
accordance with [SPECIFY STATE PROBATE LAWS].
ARTICLE 2: DECLARATION OF TRUST
The Grantor hereby declares that he or she has established this trust and wishes to hold certain
property in trust for the benefit of the beneficiaries named below. This instrument constitutes the
Grantor’s written declaration of trust.
ARTICLE 3: FUNDING OF TRUST
i. The Grantor donated real property, personal property, cash and other liquid assets
(hereinafter “Trust Estate”) listed on "Schedule A", which is attached and incorporated
into this Trust, to the Trust on the date specified above.
ii. Any property transferred to the Trust, whether formally or informally, and not stated on
“Schedule A”, is also included in the Trust.
iii. The Trustee is free to receive assets from any source and on any terms, but no
additional assets—aside from those specified by the Grantor’s will—may be added if the
Trustee believes doing so will not be in the beneficiaries’ best interests.
iv. The management of the Grantor’s assets and use of them to enable the Grantor to
remain as long as feasible a resident of the community are the main goals of this Trust.
v. This Agreement shall constitute a revocable/irrevocable trust. This Agreement may/may
not be modified in any way by the Grantor
ARTICLE 4: DEATH OF THE GRANTOR
The primary beneficiary of this trust is the Grantor. In the event of the Grantor’s death or
incapacity, the Successor Beneficiaries shall be:
Name _______________________________ Address
______________________________________
Name _________________________________Address
______________________________________
Name _________________________________Address
______________________________________
Name _________________________________Address
______________________________________
ARTICLE 5: FAILURE OF ALL BENEFICIARIES
In the event that all Beneficiaries fail, the Trustee shall transfer the Trust Estate, free and clear
of the Trust, to the person or persons who, in the absence of all Beneficiaries, would be entitled
to inherit from the Grantor under the laws of the State of [INSERT NAME OF STATE] as an
unmarried, intestate, resident of that State, and sole owner of the property to be distributed.
ARTICLE 6. PAYMENT OF DEATH TAXES, ADMINISTRATION EXPENSES
The following shall apply upon the Grantor’s death:
i. The Trustee is responsible for paying all or a portion of any funeral costs, administration
costs, debts, taxes (including estate, inheritance, or similar taxes arising as a result of
the Grantor’s death), interest, penalties, and bequests that the legal executor of the
Grantor’s estate may, in accordance with the Grantor’s Will, certify in writing to the
Trustee.
ii. If the assets of the Grantor’s residuary probate estate are insufficient to cover the
Grantor’s funeral costs, administration costs, and all Federal and State taxes in the
nature of estate, inheritance, or like taxes, the Trustee shall be responsible for covering
the difference between those obligations and the assets of the residuary probate estate.
iii. When making any payments required by this Article, the Trustee may rely on any
certificate issued by the executor of the Grantor’s estate specifying the payment’s
amount and the recipient.
ARTICLE 7: SUCCESSOR TRUSTEES
i. The Grantor appoints [INSERT NAME] with a mailing address of [INSERT ADDRESS]
as the Successor Trustee and if he or she shall be unable to fulfill the duties herein, the
Grantor appoints [INSERT NAME] with a mailing address of [INSERT ADDRESS] as the
2 nd Successor Trustee.
ii. In the event that neither is able to serve then the Beneficiaries may decide with a
majority vote the corporate or individual to serve as Successor Trustee
ARTICLE 8. GOVERNING LAW
This Trust is made and executed in the State of [INSERT STATE NAME] and is to be governed
and construed according to the laws of said State.
ARTICLE 9: SEVERABILITY
The remainder of the Trust is nonetheless enforceable and valid in its entirety even if one or
more of its clauses, sentences, or articles are found to be invalid, irrelevant, or otherwise
unenforceable.
ARTICLE 10. INCOMPETENCY
For the purposes of this Trust, a person—including a Trustee—shall be declared incompetent if
a doctor certifies in writing that the person is unable to care for his or her person or property.
ARTICLE 11. GENDER REFERENCES
When the context allows, the singe or plural form of a word may be used interchangeably, and
the use of one gender may include any other gender.
“Schedule A”
____________________________________________________________________________
_______
____________________________________________________________________________
_________
____________________________________________________________________________
_________
____________________________________________________________________________
_________
____________________________________________________________________________
____________________________________________________________________________
____________________________________________________________________________
___________________________
GRANTOR
Name ______________________________________ Signature
_______________________
I ______________________________________ hereby accepts the Trust hereinabove created
upon the terms set forth herein and agrees to act as Successor Trustee thereunder.
SUCCESSOR TRUSTEE
Name ______________________________________ Signature
_______________________
ACKNOWLEDGEMENT & AFFIDAVIT
STATE OF:
COUNTY OF:
I/We, the GRANTOR, TRUSTEE(S) AND THE WITNESSES AND/OR NOTARY PUBLIC,
whose names are signed to the foregoing instrument, being first duly sworn, do hereby declare
to the undersigned authority that the Grantor signed and executed the instrument as his/her
Living Trust and that he/she signed willingly, and that he/she executed it as his/her free and
voluntary act for the purposes therein expressed, and that each of the individuals, in the
presence of the Grantor was at the time eighteen (18) or more years of age, of sound mind and
under no constraint or undue influence.
GRANTOR
Name ______________________________________ Signature
_______________________
TRUSTEE
Name ______________________________________ Signature
_______________________
SUCCESSOR TRUSTEE
Name ______________________________________ Signature
_______________________
2 ND SUCCESSOR TRUSTEE
Name ______________________________________ Signature
_______________________
WITNESS
Name ______________________________________ Signature
_______________________
WITNESS
Name ______________________________________ Signature
_______________________
On this _________ day of ___________________, 20_____, the above-named
______________________________________ personally appeared before me and
acknowledged the foregoing to be (his/her) free act and deed.
………………………………………….
Notary Public
Dated:
Seal
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