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Living Trust Agreement

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living trust agreement 

Living Trust Agreement

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Summary: The revocable living trust is much like a will, with one important difference: A living trust will allow the donor's heirs to save the time and expense involved with settling an estate through probate. Like a will, a living trust can be changed during one's lifetime. When the donor passes on, the living trust automatically becomes irrevocable and assets are distributed to the beneficiary(ies) as outlined in this living trust agreement.

 

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LIVING TRUST

DECLARATION OF TRUST, made as of this day of _____ , 20XX, between NAME OF GRANTOR, having an address at ADDRESS, CITY, STATE, ZIP, as grantor (hereinafter referred to as the "Grantor"), and NAME OF GRANTOR, having an address as aforesaid, as trustee (hereinafter referred to as the "Trustee").

W I T N E S S E T H:

WHEREAS, the Grantor is the owner of the property more particularly described in Schedule A attached hereto and made a part hereof; and

WHEREAS, the Grantor's wife is WIFE'S NAME, and the Grantor has one child, CHILD'S NAME; and

WHEREAS, the Grantor desires to create a revocable trust of the property described

in Schedule A hereto, together with such monies, securities and other assets as the Trustee hereafter may hold or acquire hereunder (said property, monies, securities and other assets, together with any additions thereto received pursuant to the Grantor's last will and testament or otherwise, being hereinafter referred to as the "trust estate"), for the purposes and upon the terms and conditions hereinafter set forth.

NOW, THEREFORE, in consideration of the covenants herein contained and other valuable consideration, the receipt and sufficiency of which hereby is acknowledged, the Grantor hereby transfers, conveys, assigns and delivers to the Trustee as and for the trust estate the property more particularly described in Schedule A hereto, to hold the same, and any other property which the Trustee hereafter may acquire, IN TRUST, for the purposes and upon the terms and conditions hereinafter set forth:

FIRST ARTICLE

Directions Of Grantor

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