How to Create a Living Trust Template

By Jennifer Williams

Probate is often a lengthy and expensive process that leaves property and beneficiaries up in the air while the will moves slowly through the court process. You can avoid probate altogether by drawing up a living trust template and then filling in the blanks to create a living trust that holds title to your property. A living trust can be modified or revoked at any time as your situation changes. Working from a template allows modification of the meat of the document while leaving its skeletal structure intact. Once the template is created, save it using the "save as template" function of your word-processing software.

Step 1

Title the first section of the template "Trustee and Successor Trustee." State that the named individual shall serve as trustee during the trustor's lifetime and leave a space or type a blank line for the person's name and address. Usually in a living trust, the trustor (the person who establishes the trust) is also the initial trustee. State that in the event the named individual is unable to serve for any reason, a second individual shall serve as successor trustee, and leave a space or type a blank line for the name and address. Skip a space and state that the trustee and successor trustee shall have the following powers and duties. Leave a small paragraph-sized blank space in which to fill in the powers and duties of the trustee/successor trustee, such as what decisions the trustee is allowed to make regarding any income the trust assets may generate or insurance needed to protect trust assets.

Step 2

Dedicate the second section of the template to the assets of the living trust. This section need consist of only a sentence stating that title to or ownership of the property listed on "Schedule A" has been transferred by the trustor into the name of the trust. Title a separate page "Schedule A" and leave the rest of the page blank for filling in the names and descriptions of the property transferred to the trust, such as cars and their VIN numbers, and real property with corresponding legal descriptions usually found on the property deeds.

Protect your loved ones. Start My Estate Plan

Step 3

Label section three of the template "Beneficiaries". Type numbers or blank lines for the name and address and relationship to the trustor of each beneficiary. Under each name leave adequate space to add the trust property that individual is to receive.

Step 4

Dedicate section four of the template to distribution of assets. This paragraph will not change and requires no blanks or spaces for additional information. State that the trustor reserves the right to revoke the trust at any time and retains all rights to the trust property while living. Specify that distrubtion of trust assets happens upon the trustor's death.

Step 5

Add lines for the trustor and at least two witnesses to sign and date the living trust document. Add a standard notary designation so the document can be property notarized.

Protect your loved ones. Start My Estate Plan
How to Transfer Real Estate to a Revocable Trust in New York State

References

Resources

Related articles

Amending a Living Trust in California

A revocable living trust establishes a plan for trust assets that provides payment to the trust's beneficiaries. A revocable trust can be terminated by the owner while he's still living. One advantage of having a revocable living trust is your ability to change the trust's terms at any time while you're still alive and competent. In California, you can change your revocable living trust by writing an amendment that complies with state law. California's trust amendment laws are found in Sections 15400-15414 of the probate code.

How to Dissolve My Revocable Living Trust in California

The settlor of a California revocable living trust may dissolve all or part of the trust at any time. A revocable living trust is an estate planning tool used to keep assets out of probate. A settlor creates the revocable living trust, transfers ownership of selected assets to it, and usually designates himself as trustee and primary beneficiary. He names alternate beneficiaries to receive assets upon his death. Until that event, he retains use and control of the assets, and retains the right to dissolve the trust at will.

How Can I Change Title to Property in a Living Trust?

If you are the trustee of a living trust, you are responsible for managing the trust property and can change title to the property as necessary. The steps required to change title depend on the type of property involved. If you are named successor trustee and the trustee has died or is no longer able to carry out his duties, title to the trust property must be changed from the trustee's name to your name as successor trustee.

LegalZoom. Legal help is here. Start Here. Wills. Trusts. Attorney help.

Related articles

How to Prepare a Living Trust at Home

A living trust allows you to place assets under the care of a trustee who then distributes the assets to the ...

How to Transfer a Vanguard Account to a Living Trust

Transferring property to a living trust is an important step in setting up the trust. Investment accounts, such as ...

How to Change Name of an LLC in California

In California, the main document needed to form a limited liability company is called the articles of organization. If ...

Transferring Property From a Living Trust to a Successor Trustee

A successor trustee is named in a living trust as the person who will take over the trustee’s duties and fulfill ...

Browse by category
Ready to Begin? GET STARTED