Living Trust Form, Free Download 2026

The Grantor hereby declares and establishes this Revocable Living Trust (the "Trust") and transfers, assigns, and conveys to the Trustee the property described in Schedule A attached hereto, to be held, administered, and distributed in accordance with the terms and conditions set forth in this Trust Agreement. The Trust shall be known as the "[Grantor Name] Revocable Living Trust, dated [Date]" and all references to the Trust herein shall include any amendments or restatements made pursuant to Article XIV.

The Grantor shall serve as the initial Trustee of this Trust during the Grantor's lifetime and while the Grantor retains legal capacity to manage the Trust estate. In the Grantor's capacity as Trustee, the Grantor shall hold legal title to all Trust property for the benefit of the beneficiaries named herein. The Grantor, in the dual capacity of Grantor and Trustee, shall have all rights and powers granted to the Trustee under this Trust Agreement and applicable law.

This Trust is intended to be a revocable inter vivos trust under the laws of the governing state and shall not be subject to the jurisdiction of any probate court except as may be required by applicable law. The Grantor intends that the Trust corpus and all property added thereto shall pass to the designated beneficiaries outside of probate upon the Grantor's death, and this Trust Agreement shall be interpreted to effectuate that intent to the fullest extent permitted by law.

The initial trust estate (the "Trust Corpus") shall consist of the property listed on Schedule A attached hereto and incorporated by reference. The Grantor or any other person may, at any time during the existence of this Trust, transfer, convey, assign, or deliver additional property of any kind to the Trustee to be held as part of the Trust Corpus, subject to the Trustee's right to reject any transfer that the Trustee reasonably determines would be detrimental to the Trust or its beneficiaries.

All property transferred to the Trust, together with the income, profits, and appreciation thereof, shall constitute the Trust Corpus and shall be held, managed, invested, and distributed by the Trustee in accordance with the terms of this Trust Agreement. The Trustee shall maintain accurate records of all Trust property, distinguishing between principal and income as required by the applicable principal and income act of the governing state.

The Grantor represents and warrants that the Grantor has full legal authority to transfer the property listed on Schedule A to the Trust and that such property is free and clear of all liens, encumbrances, and claims, except as specifically noted on Schedule A. The Trustee shall take all reasonable steps to ensure that legal title to Trust property is properly held in the name of the Trust, including recording deeds, re-titling accounts, and updating beneficiary designations as directed by the Grantor.

During the Grantor's lifetime and while the Grantor possesses legal capacity, the Grantor reserves the unrestricted right to add property to the Trust, withdraw property from the Trust, direct the Trustee regarding the investment and management of Trust assets, and otherwise direct the administration of the Trust in any manner the Grantor deems appropriate. The Grantor's retained powers shall be exercisable by the Grantor alone and shall not be subject to the approval or consent of any beneficiary, Trustee, or third party.

The Grantor retains all rights to the income and principal of the Trust during the Grantor's lifetime, including the right to receive all net income of the Trust at such intervals as the Grantor directs and the right to withdraw principal in any amount and for any purpose without restriction. For purposes of federal and state income taxation, the Grantor shall be treated as the owner of the entire Trust and all Trust income, deductions, and credits shall be reported on the Grantor's individual tax return.

The Grantor reserves the right to direct the Trustee to acquire, hold, manage, or dispose of any Trust asset, including the right to direct the purchase or sale of real property, securities, business interests, and other investments without regard to diversification requirements or prudent investor standards that might otherwise apply. The Trustee shall comply with the Grantor's directions unless doing so would constitute a violation of applicable law or expose the Trustee to personal liability.

During the Grantor's lifetime, the Trustee shall distribute to or for the benefit of the Grantor all net income of the Trust in convenient installments, but not less frequently than quarterly, unless the Grantor directs otherwise in writing. The Trustee shall also distribute to the Grantor such amounts of principal as the Grantor may request at any time and from time to time, without limitation as to amount or purpose.

If the Grantor has not been declared incapacitated pursuant to Article V, the Grantor may direct the Trustee to make distributions of income or principal to any person or entity, for any purpose, and in any amount. The Trustee shall not be liable to any remainder beneficiary or other interested party for making distributions directed by the Grantor during the Grantor's lifetime. Such distributions shall be deemed to be for the Grantor's benefit and shall not constitute a gift from the Trust.

The Trustee shall pay from Trust income or principal all taxes, assessments, insurance premiums, and other expenses associated with Trust property, including but not limited to property taxes on real estate held in the Trust, premiums on life insurance policies owned by the Trust, and costs of maintaining and repairing Trust assets. The Grantor may also direct the Trustee to pay the Grantor's personal debts and obligations from Trust assets during the Grantor's lifetime.

If the Grantor becomes incapacitated as determined by two licensed physicians who have personally examined the Grantor and provided written statements that the Grantor is unable to manage the Grantor's financial affairs, the Successor Trustee named in Article IX shall assume the duties of Trustee without court intervention. The determination of incapacity shall be made in the physicians' professional judgment and shall not require a judicial finding of incompetence or the appointment of a conservator or guardian.

During any period of the Grantor's incapacity, the acting Trustee shall use Trust income and, to the extent income is insufficient, Trust principal for the Grantor's health, education, maintenance, and support in the Grantor's accustomed manner of living. The Trustee shall give primary consideration to the Grantor's comfort and welfare and may consider the Grantor's prior standard of living, known wishes, and the needs of the Grantor's dependents in determining appropriate distributions.

The Trustee acting during the Grantor's incapacity shall have authority to pay the Grantor's legal obligations, including but not limited to taxes, existing contractual commitments, support obligations to the Grantor's spouse and dependents, and medical and long-term care expenses. The Trustee may also make gifts on the Grantor's behalf consistent with the Grantor's established pattern of giving, provided that such gifts do not jeopardize the Grantor's financial security or eligibility for government benefits.

If the Grantor recovers legal capacity as certified in writing by two licensed physicians, the Grantor shall resume the role of Trustee and all powers reserved to the Grantor under this Trust Agreement shall be restored. The acting Trustee shall provide a full accounting to the Grantor within thirty (30) days of the Grantor's resumption of the Trustee role, detailing all transactions, distributions, investments, and other actions taken during the period of incapacity.

Upon the death of the Grantor, the Trustee shall pay from the Trust estate all legally enforceable debts of the Grantor, expenses of the Grantor's last illness and funeral, costs of administration of the Trust estate, and any estate, inheritance, or death taxes assessed against the Grantor's estate or the Trust, unless the Grantor's pour-over will or other estate planning documents direct that such obligations be paid from a different source. The Trustee shall not be required to pay any debt that the Trustee reasonably believes to be invalid or unenforceable.

After payment of all debts, expenses, and taxes described in Section 6.1, the Trustee shall distribute the remaining Trust estate in accordance with the specific bequests set forth in Article VII and the residuary distribution provisions set forth in Article VIII. The Trustee shall make distributions as soon as reasonably practicable, but shall not be required to make any distribution until the Trustee has determined that adequate reserves have been established for the payment of all debts, expenses, taxes, and contingent liabilities.

If a beneficiary is under the age of majority at the time a distribution becomes due, the Trustee shall hold the beneficiary's share in a separate sub-trust for the benefit of such beneficiary until the beneficiary reaches the age specified in this Trust Agreement. The Trustee may distribute income and principal from the sub-trust for the beneficiary's health, education, maintenance, and support, taking into consideration the beneficiary's other resources and the total value of the sub-trust.

The Grantor directs the Trustee to distribute the specific items of tangible personal property and specific monetary gifts listed on Schedule B attached hereto to the designated beneficiaries named therein. The Grantor may amend Schedule B at any time by executing a new Schedule B in writing and delivering it to the Trustee. In the event of a conflict between Schedule B and the provisions of this Trust Agreement, this Trust Agreement shall control.

If any item of specifically bequeathed property is not part of the Trust estate at the time of the Grantor's death, the specific bequest of that item shall be deemed adeemed and the designated beneficiary shall have no claim against the Trust estate for the value of such property. The Trustee shall not be required to purchase replacement property or make a compensating distribution to any beneficiary whose specific bequest has been adeemed.

If a designated beneficiary of a specific bequest predeceases the Grantor or fails to survive the Grantor by the survivorship period specified in Article XVI, the specific bequest to that beneficiary shall lapse and the bequeathed property shall become part of the residuary Trust estate unless the Grantor has designated an alternate beneficiary on Schedule B. Any dispute regarding the identification, valuation, or distribution of specifically bequeathed property shall be resolved by the Trustee in the Trustee's reasonable discretion, and the Trustee's determination shall be final and binding on all beneficiaries.

After the distribution of all specific bequests under Article VII, the Trustee shall distribute the remaining Trust estate (the "Residuary Estate") to the residuary beneficiaries designated on Schedule C attached hereto, in the shares and proportions specified therein. The Grantor may amend Schedule C at any time in writing in accordance with the amendment procedures set forth in Article XIV.

If any residuary beneficiary predeceases the Grantor, such beneficiary's share shall be distributed to that beneficiary's then-living descendants, per stirpes, unless the Grantor has designated an alternative distribution scheme on Schedule C. If a predeceased beneficiary has no living descendants, that beneficiary's share shall be allocated proportionally among the remaining residuary beneficiaries.

In the event that all designated residuary beneficiaries and their descendants predecease the Grantor, the Residuary Estate shall be distributed to the Grantor's heirs at law as determined under the intestacy laws of the governing state in effect at the time of the Grantor's death. The Trustee may, in the Trustee's discretion, distribute the Residuary Estate in kind, in cash, or partly in each, and any distributions in kind shall be valued at fair market value as of the date of distribution.

If the Grantor ceases to serve as Trustee by reason of death, incapacity, resignation, or inability to act, the following individual shall serve as Successor Trustee: [First Successor Trustee Name]. If the first-named Successor Trustee is unable or unwilling to serve, the following individual shall serve as Successor Trustee: [Second Successor Trustee Name]. Each Successor Trustee shall assume office without the necessity of court appointment or the posting of any bond.

Any individual Trustee may resign by delivering thirty (30) days' written notice to the Grantor (if living and not incapacitated) and to all current adult beneficiaries of the Trust. The resignation shall take effect upon the earlier of the appointment of a successor or the expiration of the thirty-day notice period. The resigning Trustee shall provide a complete accounting to the successor Trustee and shall cooperate in the orderly transfer of Trust assets and records.

If no designated Successor Trustee is able and willing to serve, a majority of the current adult income beneficiaries of the Trust may appoint a successor Trustee by unanimous written agreement. If the beneficiaries are unable to agree on a successor, any interested party may petition a court of competent jurisdiction to appoint a qualified successor Trustee. Any corporate or institutional Trustee appointed as successor must be a bank or trust company authorized to conduct trust business in the state of the Trust's situs.

The Trustee shall have all powers conferred upon trustees by the laws of the governing state, including the Uniform Trust Code and the Uniform Prudent Investor Act as adopted in such state, in addition to the powers expressly granted in this Trust Agreement. Without limiting the generality of the foregoing, the Trustee shall have the power to buy, sell, exchange, lease, mortgage, pledge, option, and otherwise deal with Trust property on such terms and conditions as the Trustee deems advisable.

The Trustee shall invest and manage Trust assets as a prudent investor would, considering the purposes, terms, distribution requirements, and other circumstances of the Trust. The Trustee shall exercise reasonable care, skill, and caution in making investment decisions and shall diversify investments unless the Trustee reasonably determines that the purposes of the Trust are better served without diversification. The Trustee's investment decisions shall be evaluated not in isolation but in the context of the Trust portfolio as a whole.

The Trustee shall have the power to employ and compensate attorneys, accountants, financial advisors, investment managers, custodians, and other professionals as the Trustee deems necessary for the proper administration of the Trust. The Trustee may delegate investment and management functions to qualified agents and shall not be liable for the acts or omissions of such agents if the Trustee exercised reasonable care in selecting, instructing, and monitoring the agent.

The Trustee shall maintain accurate and complete records of all Trust transactions and shall provide an annual accounting to each current adult beneficiary showing all receipts, disbursements, distributions, gains, losses, and the net asset value of the Trust estate. The Trustee shall file all required tax returns on behalf of the Trust and shall comply with all reporting obligations imposed by applicable law.

While the Grantor serves as Trustee, the Grantor shall receive no compensation for serving in that capacity. Any Successor Trustee who is an individual shall be entitled to reasonable compensation for services rendered in administering the Trust, commensurate with the nature and complexity of the work performed and the prevailing rates for trust administration services in the Trust's situs.

Any corporate or institutional Trustee shall be entitled to compensation in accordance with its published fee schedule in effect at the time services are rendered, as amended from time to time. The Trustee shall provide written notice to all current adult beneficiaries of any change in its fee schedule at least thirty (30) days before such change takes effect.

In addition to compensation, the Trustee shall be entitled to reimbursement from the Trust estate for all reasonable out-of-pocket expenses incurred in the administration of the Trust, including but not limited to legal fees, accounting fees, appraisal costs, insurance premiums, filing fees, and costs of litigation undertaken to protect or enforce the interests of the Trust. All Trustee compensation and expense reimbursements shall be paid from the Trust estate and shall be treated as administrative expenses of the Trust.

Except as otherwise provided in this Trust Agreement or required by applicable law, no beneficiary shall have any right to anticipate, alienate, encumber, pledge, hypothecate, or assign any interest in the income or principal of the Trust, whether by voluntary or involuntary transfer, and no such interest shall be subject to the claims of any creditor, spouse, former spouse, or judgment holder of any beneficiary, or be subject to attachment, garnishment, execution, bankruptcy proceedings, or any other legal or equitable process.

If the Trustee determines that a beneficiary's interest in the Trust has been or may be subjected to a garnishment, attachment, lien, or other involuntary alienation by operation of law or act of a creditor, the Trustee may, in the Trustee's sole discretion, withhold any distribution that would otherwise be made to such beneficiary and instead apply such amounts directly for the beneficiary's health, education, maintenance, and support. The Trustee's exercise of this discretion shall be final and shall not be subject to review by any court.

The spendthrift provisions of this Article shall not apply to the Grantor's retained interest in the Trust during the Grantor's lifetime, as the Trust is revocable and the Grantor's creditors may reach Trust assets to the same extent as if the Trust had not been created. Upon the Grantor's death, the spendthrift protections shall become fully effective with respect to each beneficiary's interest in the Trust to the maximum extent permitted by the laws of the governing state.

The Grantor may designate a Trust Protector in a written instrument delivered to the Trustee. The Trust Protector shall serve in a fiduciary capacity and shall have the powers specifically granted in this Article but shall have no duty to monitor the Trustee or to exercise any power granted herein. The Trust Protector shall not be liable for any action taken or omitted in good faith, and shall be indemnified by the Trust estate for any liability arising from the good faith exercise of the Trust Protector's powers.

The Trust Protector shall have the power to: (a) remove and replace the Trustee for cause, including breach of fiduciary duty, self-dealing, or failure to administer the Trust in accordance with its terms; (b) approve or veto proposed distributions to beneficiaries where the Trustee has identified a potential conflict of interest; (c) modify the administrative provisions of the Trust to respond to changes in tax law, trust law, or the circumstances of the beneficiaries, provided that no modification shall alter the beneficial interests in a manner inconsistent with the Grantor's intent.

The Trust Protector may resign by providing sixty (60) days' written notice to the Trustee and all current adult beneficiaries. A successor Trust Protector may be appointed by the resigning Trust Protector or, if no appointment is made, by a majority of the current adult beneficiaries. The Trust Protector shall receive reasonable compensation as agreed upon with the Trustee, payable from the Trust estate.

The Grantor reserves the absolute right to revoke this Trust in whole or in part at any time during the Grantor's lifetime, provided that the Grantor has legal capacity to do so. Revocation shall be effected by a written instrument signed by the Grantor and delivered to the Trustee. Upon complete revocation, the Trustee shall distribute the entire Trust estate to the Grantor or as the Grantor directs, free of the terms of this Trust Agreement.

The Grantor reserves the right to amend any provision of this Trust Agreement at any time during the Grantor's lifetime by a written instrument signed by the Grantor and delivered to the Trustee. An amendment may add, delete, or modify any provision of this Trust Agreement, including the designation of beneficiaries, the terms of distribution, the identity of the Trustee, and the administrative provisions of the Trust. No amendment shall require the consent of any beneficiary or Trustee.

This Trust shall become irrevocable upon the death of the Grantor, and no person shall have the power to revoke or amend the Trust thereafter except as expressly provided in Article XIII regarding the Trust Protector's limited power to modify administrative provisions. Any sub-trust created under this Trust Agreement upon the Grantor's death shall also be irrevocable and shall be governed by the terms of this Trust Agreement as in effect at the time of the Grantor's death.

This Trust Agreement and the administration of the Trust shall be governed by and construed in accordance with the laws of the state designated by the Grantor as the situs of the Trust, without regard to such state's conflict of laws principles. The initial situs of the Trust shall be the state of the Grantor's domicile at the time of execution of this Trust Agreement, unless the Grantor designates a different state in writing.

The Trustee may, with the consent of the Grantor (during the Grantor's lifetime) or the Trust Protector (after the Grantor's death), change the situs of the Trust to another state if the Trustee determines that such change would be in the best interests of the Trust and its beneficiaries. A change of situs shall be effected by a written instrument identifying the new situs state and shall take effect thirty (30) days after delivery of such instrument to all current adult beneficiaries.

Any action or proceeding relating to this Trust shall be brought in the courts of the state of the Trust's situs, and all parties to this Trust Agreement consent to the exclusive jurisdiction of such courts. The Trustee shall register the Trust in any state that requires registration and shall comply with all reporting requirements imposed by the laws of the Trust's situs and any other jurisdiction in which the Trust holds assets.

Survivorship Requirement. A beneficiary must survive the Grantor by at least thirty (30) days in order to receive any distribution under this Trust Agreement. If a beneficiary fails to survive the Grantor by the required survivorship period, the beneficiary shall be deemed to have predeceased the Grantor for all purposes of this Trust Agreement, and the beneficiary's share shall be distributed in accordance with the alternate disposition provisions of this Trust.

Severability. If any provision of this Trust Agreement is held to be invalid, illegal, or unenforceable by a court of competent jurisdiction, such invalidity shall not affect the remaining provisions of this Trust Agreement, which shall continue in full force and effect. The invalid provision shall be modified to the minimum extent necessary to make it valid and enforceable while preserving the Grantor's original intent.

No-Contest Clause. If any beneficiary, directly or indirectly, contests or challenges the validity of this Trust Agreement or any of its provisions, or institutes or participates in any proceeding to contest or set aside this Trust or any distribution made hereunder, such beneficiary shall forfeit his or her entire interest in the Trust and shall be treated as having predeceased the Grantor. This no-contest provision shall be enforced to the maximum extent permitted by the laws of the governing state.

Entire Agreement and Execution. This Trust Agreement, together with all Schedules and Exhibits attached hereto and all amendments executed in accordance with Article XIV, constitutes the entire agreement regarding the Trust and supersedes all prior oral or written understandings. This Trust Agreement shall be executed by the Grantor before a notary public and, if required by the laws of the governing state, in the presence of witnesses, and shall be effective upon execution and the transfer of property to the Trust as described in Article II.