Living Trust Forms - Suze Orman Living Trust Kit

Trust documents are used to prepare your estate. A living trust is a trust established during a person's lifetime in which a person's assets and property are placed within the trust, usually for the purpose of estate planning. The fiduciary fund then owns and manages the property through a trustee for the account of the named beneficiary or settlor. If you are looking for a Living Will click here. Or See other trust forms.

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Living Trust Topics Trust Agreement

Why Living Trust Forms are Important for Anyone

Why Living Trust Forms aren't Just for the Rich

Why Living Trust Forms can Benefit You

Estate Planning Lessons

Pour Over Will

Will vs Living Trust Online - The Best Way to Avoid Probate Trust Schedule A Template

What is a living trust and how to create one? Living Trust

Creating a trust is an effective estate planning tool for many individuals. Do you want to make sure your heirs don't mishandle or waste what you leave behind? Do you have pets that will need to be cared for if something were to happen to you? Do you or a parent anticipate entering a nursing home in the future and want to protect your eligibility for Medicaid? These are only a few reasons you may want to investigate whether a fiduciary fund is right for you.

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Legal trust is used for holding property in a fiduciary relationship for the benefit of the named beneficiaries. The same individual may be the grantor, trustee, and beneficiary. The grantor may also name a successor trustee if the original one dies or is unable to serve, as well as successor beneficiaries.

The owners of the trusted fund (also called the grantors or settlors) prepare all the paperwork to transfer real property or other assets to their foundation. You can find each necessary printable template on our website. Preview samples online for free, before you print or download them. Moreover, our professionals in the preparing service will make the paperwork process simple and fast.

Remember, that the assets transferred belong to the trusted foundation and are managed by a trustee on behalf of the beneficiaries in accordance with the terms of the legal trusts.

Explore two basic categories of fiduciary funds:

  • A revocable trust may be changed or terminated by the grantor. The settlor may reserve the right to take back any property and remaining revenues. Revocable foundations are also referred to as grantor funds, and therefore the income is taxable to the settlor.
  • An irrevocable trust can't be changed or terminated without the consent of the beneficiaries. By transferring assets into the foundation, its creator gives up control and ownership. Therefore, the belongings and income are no longer taxable to the grantor, nor do they become part of the settlor's taxable estate when he or she dies. Some types of irrevocable funds deal with life insurance, Medicaid income, special needs, and charity.

Preparing a living trust online may provide many benefits, such as avoiding probate, protecting assets from creditors, keeping your financial affairs confidential, minimizing taxes, delay, and legal expenses when used properly. If your estate is distributed under a will, you lose control over what happens to it once received by the heirs. Legal trust documents provide a way to protect and manage your estate even after your death or incapacity. Even if you don't have a large estate, they can serve many purposes, such as ensuring that your pets are cared for according to your instructions to the trustees, protecting government benefits or eligibility for Medicaid, or allowing you to preserve confidentiality in your financial affairs and choice of beneficiaries.

Advantages of a Living Trust Forms Revocable Living Trust

Knowledge about how to create a trust can help a huge number of citizens. Some of the advantages include:

  • Privacy — The document is not required to be filed as a public record. The beneficiaries provide a level of privacy for ownership. When a will is probated, an inventory of your belongings and debts becomes a matter of public record once filed. Unlike a will, the terms of the trust documents do not become public.
  • Asset protection — Property of an irrevocable fund may be placed beyond the reach of creditors. As a foundation’s paperwork isn't a matter of public record, it may also be more difficult for creditors to discover who inherits the property and make a claim on it.
  • Spendthrift protection — If you die leaving minor children or other financially irresponsible beneficiaries, the trust may proceed the trustee to manage the belongings until the beneficiaries are sufficiently capable to do it themselves.
  • Incapacity — If you have an accident or become incapacitated, the trustee can handle your financial affairs without the need for creating a guardianship or conservatorship.
  • Tax Liability — A properly completed credit shelter living trust forms may minimize the estate taxes that might otherwise be due to large real properties.
  • Probate proceedings — The expense, burden, and delay of probate proceedings may be avoided since property owned by the trusted foundation passes outside of probate. If you own real estate in more than one state, creating a trust can avoid the cost and hassle of multiple probate proceedings.
  • Separation of assets — When a couple has significant belongings before getting married they can avoid their wealth from becoming community property.
  • Benefits eligibility — A Medicaid income fund can be used to ensure eligibility for Medicaid if a parent enters a nursing home. A special needs trust can allow a sufferer to receive gifts, lawsuit settlements, or inheritances and not lose disability benefits.
  • Pet care — Many states now recognize trusts that provide for the care of your loved animals and ensure they are provided for when you are no longer able.

Living Trusts and Wills Trustee Forms

People often wonder whether it is necessary to complete trust documents if they already have a last will. Keep in mind, that the testament is an essential document for everyone to have, regardless of whether you have a trust. By having a will, you can also be ensured that any property will be distributed according to your wishes. For example, you might acquire property shortly before you die and have no opportunity to transfer the property to the trusted foundation. A will specifies how to distribute any wealth, which hasn't already been designated, to a named beneficiary.

Unlike a will, a trust continues after the incapacity or death of the grantor. Therefore, the successor trustee can manage your assets according to your instructions until an agreed point in time.

A testamentary trust may also be created in a will. These types of wills are sometimes referred to as pour over statements. By naming a trustee in the will, any property not specifically identified in the testament, such as later-acquired property, can be distributed according to the terms of the testamentary trust.

FAQ Irrevocable Living Trust Template

How to Create a Trust? Sample Revocable Living Trust

Living trust documents can serve many purposes, so whether you need it will depend on your reasons. Typically, this kind of paperwork is most popular among those with significant assets and over the age of 50. However, because of the advantages described above, it may also make sense for anyone. US Legal Forms provides the professional packages of legal templates and high-level document preparing service. Benefit from the most simple way to manage your lawful documents online. Use our forms, preview for free before you download and print.

How Can a Home Be Transferred into the Trust? How Trustee

Q: We just created a living trust. How do we put our house into the trust?

A: You may put the property in trust by creating a quitclaim or warranty deed transferring the real estate from the current owners to the trusted fund. To add belongings, the grantor(s) of the foundation create a real property deed with the grantee. The deed should be signed and recorded in the local recorder office where the house is located.

Will Putting Real Property in a Trust Prevent Foreclosure? Living Trust Sample Pdf

Q: Is there a type of living trust form that will stop a home foreclosure or bank auction?

A: If the foreclosure process has already been started, creating a trust will not be helpful for stopping the process. If a person knows that there is a pending claim by a creditor, and then makes a transfer of property to a fund, it may give rise to claims that are a fraudulent conveyance intended only to prevent creditors from collecting money owed out of the asset. If a claim of fraudulent conveyance is proven, the court can void the transferring and determine that the property is still actually in your ownership.

How Can a Trustee Be Forced to Carry Out Duties? Sample Revocable Trust

Q: My uncle is the trustee of our family trust, but he's going through personal problems and due to the conflict going on, has ignored u sand hasn't given the beneficiaries the trust income for a while now. What can be done?

A: Trustees are considered fiduciaries, which means they have a duty to follow the instructions detailed in the documents and act with the utmost care and loyalty toward the property. A trustee must act in the best interests of the trusted fund and not for personal benefit. For example, a trustee should not profit from or borrow against the foundation.

When a trustee doesn't follow instructions or acts for personal gain, it's called a breach of fiduciary duty. If the trustee is in breach of fiduciary duty, a lawsuit may be filed with the court, which may result in the replacement of the trustee by a successor or other measures being taken.

Is the Privacy of My Financial Affairs Ensured by a Trust? Trust Templates

Q: I'm wondering if my wife and I create a living trust, will we need to file it at court so that the contents of the trust can be seen by anyone?

A: No, living trust forms are private allowing you to avoid probate filings like a last will. While you may wish to voluntarily have it on file in some instances, it's not a mandatory requirement and therefore you can keep assets, debts, and choice of beneficiaries from being disclosed.

What is the Difference Between a Revocable or Irrevocable Trust? Trust Documents

Q: How do I choose between a revocable living trust and an irrevocable living trust?

A: The answer will depend on your circumstances and your reason for wanting to make a trust agreement. To put it simply, when you are creating a trust, you still have some form of control. You can change or terminate the agreement, and creditors can arrest assets. Unlike an irrevocable trust, you waive all control rights, so lenders are less likely to claim you have ownership of the assets.

The grantor owes taxes on the income of revocable trusts and any trust property remaining when the grantor dies becomes part of the grantor's taxable estate, unlike irrevocable trusts. Some examples of an irrevocable living trust include:

1. A Medicaid Income Trust (also called a Miller Trusts or Qualifying Income Trust) allows a person entering a nursing home to "spend down assets" to qualify for Medicaid. The terms of the trust document restrict how much income may be used for the benefit of the beneficiaries of the trust may

2. A Special Needs Trust (also called a Supplemental Needs Trust) protects minor children and adults with disabilities who rely on government benefits and need to maintain income eligibility levels while receiving other income, such as gifts and inheritances. Such trusts are often used to pay for things like education, recreation, counseling, and medical attention that exceed usual living expenses. In some cases the trustee can use trust property for basic necessities if the trust allows that discretion.

These examples of irrevocable living trust agreements restrict the use of and how much income a beneficiary of the trust may receive.

What are the Benefits of Preparing Living Trust Online? Trust Form Pdf

Q: How do I know if I can complete an online living trust?

A: Online living trust form templates may be used for various purposes, such as asset protection, reducing federal estate taxes and other taxes, avoiding probate of certain assets, protecting eligibility for government benefits, ensuring irresponsible heirs don't waste inheritances, helping a charitable cause, and more. To save your time and money US Legal Forms offers you the best preparing service as well as the professional and legal template packages you can find online. To be sure to choose the exact document you need you can preview files for free before download.

Sample - 22 pages. Only showing a few pages. Preview the entire trust on the product page.


THIS REVOCABLE LIVING TRUST AGREEMENT, (hereinafter "Trust"), is being made on this the ________ day of _______________, 20_____, by and between ___________________________________ of ____________________ County, State of Arizona, hereinafter referred to as the Trustor, whether one or more, and the Trustee designated below and shall be governed and administered in accordance with the following terms and provisions:


1. NAME OF TRUST: This trust may be referred to as THE ________ REVOCABLE LIVING TRUST.


2. TRUSTOR AND BENEFICIARIES: The Trustors or Settlors of this trust are _______________________ and _______________________, Husband and Wife, residing at ___________________________________, ___________________________________, Arizona ________. As used herein, the term "Trustor" shall mean all trustors of this trust, whether one or more. The Trustors are married and parents of the following living children:
_______________________ _______________________
The Beneficiaries of the Trust during the lifetime of the Trustors is the Trustors. Except as otherwise provided herein, upon the death of the Trustor, the Beneficiaries are the Children of the Trustor.


3. TRUSTEE APPOINTMENTS: The Trustor, hereby appoints __________________, the Trustor, as Trustee of this Trust. If the Trustor, is unable to serve as Trustee for any reason, then the Trustor hereby appoints __________________ as Successor Trustee. If neither the first or second Trustee are able to serve as Trustee for any reason, then the Trustor hereby appoints __________________ as Successor Trustee, whether one or more. The Trustee shall have all powers as provided in this agreement and the laws of the State of Arizona. The principal place of administration of this trust is the Trustors place of residence, regardless of the residence of the Trustee. If multiple or Co-Trustees are appointed their exercise of powers shall be governed by Arizona Code Section 14-10703.


4. ASSETS OF TRUST: All rights, title, and interest in and to all real and personal property, tangible or intangible, listed on the attached Exhibit "A", is hereby assigned, conveyed and delivered to the Trustee for inclusion in this Trust.

5. ADDITIONS TO TRUST PROPERTY: Additional property may be conveyed to the Trust by the Trustor, or any other third party at any time. Trustor may execute such other documents as is necessary to effectuate the assignment of property to this Trust.

6. RIGHTS TO TRUST ASSETS: Except as specifically provided herein, the Beneficiaries of this trust shall have no rights to any assets of the trust.

7. HOMESTEAD EXEMPTION: Grantor(s) reserves the right to use, occupy and reside upon any real property placed in this Trust as their permanent residence during their lives. Grantor(s) shall have the right to reside in the property rent free and without charge except for the payment of the following: (1) all mortgages costs and expenses (2) all property taxes, and (3) reasonable expenses of upkeep and maintenance. Grantor(s) retain the legal right to use and benefit from the property in all respects. It is the intent of this provision to retain for the grantor(s) the requisite beneficial interest and possessor right in and to such real property needed to retain their qualification for any exemption, freeze of tax rates and/or valuation granted to any individual or individuals so qualifying.


8. POWERS: The Trustor does hereby grant to the Trustee all powers necessary to deal with any and all property of the Trust as freely as the Trustor could do individually. The Trustee shall at all times and in all actions act as a fiduciary in good faith. Trustee is hereby granted all powers contained herein and all powers conferred upon Trustee under the applicable statutes and laws of the State of Arizona, to the broadest extent possible, including, but not limited to all of the powers authorized by Arizona Code Section 14-10801 and 14-10820. All powers granted to the Trustee by this Trust Agreement are ministerial in nature and are not intended to create or alter substantial rights. Without limiting the foregoing general statement of powers, the Trustee powers include, but shall not be limited to the following:

(A) TRUST ASSETS: The Trustee is hereby authorized and granted all powers necessary to retain as a permanent investment of the Trust, or for such time as the Trustee shall deem advisable, the original assets of the Trust and all other property later transferred, devised or bequeathed to the Trustee, without liability for loss or depreciation resulting from such retention.

(B) NONPRODUCTIVE ASSETS: The Trustee is hereby granted all powers and authority necessary to hold uninvested cash, and to retain, acquire, and hold unproductive realty or personalty for any periods deemed advisable by the Trustee, even though the total amount so held is disproportionate under trust investment law or would not be permitted without this section.

(C) INVESTMENT POWERS: The Trustee is hereby granted all powers necessary to invest and reinvest any and all of the property of the Trust in any and all types of property, security or other asset deemed by the Trustee to be in the best interests of the Trust as a whole, without limitation or regard to yield rates or income production.

(D) SECURITIES: The Trustee is specifically authorized, in his or her discretion, to maintain brokerage margin accounts, to buy, sell or transfer options, warrants, puts, calls, commodities, futures contracts, and repurchase contracts, and to exercise any options, rights, and conversion privileges pertaining to any securities held by the Trustee as Trust assets.

(E) ADDITIONAL PROPERTY: The Trustee is specifically authorized to receive additional property from any source and to hold and administer this property as part of the Trust Estate.

(F) SELL AND LEASE: The Trustee is hereby granted all powers necessary to sell, convey, lease, transfer, exchange, grant options to purchase or otherwise dispose of any Trust asset on any terms deemed by the Trustee to be in the best interests of the Trust, to execute and deliver deeds, leases, bills of sale, and other instruments of whatever character, and to take or cause to be taken all action deemed necessary or proper by the Trustee in furtherance of this authority.

(G) INSURANCE: The Trustee is specifically authorized to insure Trust property and assets with any insurer against any hazards, foreseeable or unforeseeable, including public liability, and to use insurance proceeds to repair or replace the asset insured, at the discretion of the Trustee. In addition, the Trustee may carry or purchase life insurance on the life of any Trust beneficiary, and may exercise or release any rights with regard to such policy.

(H) BORROWING AND LENDING: The Trustee is specifically authorized to lend Trust funds to any borrower, on any terms deemed advisable, and to change the terms of these loans at any time and for any reason. This authorization includes the power to extend loans beyond maturity with or without renewal and without regard to the existence or value of any security, and to facilitate payment, to change the interest rate, to consent to the modification of any guarantee, and to forgive loans in their entirety.

The Trustee is further granted all powers necessary to borrow whatever money the Trustee deems desirable for any Trust on any terms from any lender, and to mortgage, pledge or otherwise encumber as security any assets of the borrowing Trust.

(I) MODIFICATION OF TERMS: The Trustee is specifically authorized, incident to the exercise of any power, to initiate or change the terms of collection or of payment of any debt, security, or other obligation of or due to any Trust, upon any terms and for any period, including a period beyond the duration or the termination of any or all Trusts.

(J) CLAIMS: The Trustee is hereby granted all powers necessary to compromise, adjust, arbitrate, sue on, defend, or otherwise deal with any claim, upon whatever terms the Trustee deems advisable, against or in favor of any Trust, and to abandon any asset the Trustee deems of no value or of insufficient value to warrant keeping or protecting. The Trustee is further authorized, in his or her sole and absolute discretion, to refrain from paying taxes, assessments, or rents, and from repairing or maintaining any asset; and to permit any asset to be lost by tax sale or other proceeding.

(K) DISTRIBUTIONS: The Trustee is specifically authorized to distribute any shares of the Trust in cash or in property, or partly in each, and the Trustee's valuations of and selection of assets upon making distribution shall, if made in good faith, be final and binding on all beneficiaries.

(L) NOMINEE: The Trustee is specifically authorized to hold any or all of the Trust assets, real or personal, in the Trustee's own name, the name of any Co-Trustee, corporation, partnership, or any other person as the Trustee's nominee for holding the assets, with or without disclosing the fiduciary relationship. A corporate Trustee does hereby have the power necessary to appoint a Trustee to administer property in any jurisdiction in which it shall fail to qualify.

(M) FORECLOSURE: The Trustee is specifically authorized to foreclose on any mortgage, to bid on the mortgaged property at the foreclosure sale, or acquire mortgaged property from the mortgagor without foreclosure, and to retain or dispose of the property upon any terms deemed advisable by the Trustee.

(N) ENCUMBRANCES: The Trustee may pay off any encumbrance on any Trust asset and may invest additional amounts of money in the asset, as the Trustee deems appropriate, to preserve the asset or to increase its productivity.

(O) VOTING: The Trustee may vote stock for any purpose, either in person or by proxy, may enter into a voting trust, and may participate in corporate activities related to a trust in any capacity as permitted by law, including service as officer or director.

(P) REORGANIZATION: The Trustee is hereby granted all powers necessary to unite with other owners of property similar to any property held in this Trust in carrying out the foreclosure, lease, sale, incorporation, dissolution, liquidation, reincorporation, reorganization, or readjustment of the capital or financial structure of any association or corporation in which any Trust has a financial interest; to serve as a member of any protective committee; to deposit Trust securities in accordance with any plan agreed upon; to pay any assessments, expenses, or other sums deemed expedient for the protection or furtherance of the interests of the beneficiaries; and to receive and retain as Trust investments any new securities issued pursuant to the plan, even though these securities would not constitute authorized Trust investments without this provision.

(Q) PURCHASE FROM ESTATE OR TRUST: The Trustee is specifically authorized to purchase property of any type, whether real or personal, from a Trustor or beneficiary's estate or Trust for their benefit upon such terms and conditions, price and terms of payment as the Trustee and the respective personal Representative shall agree upon, and may hold any property so purchased in Trust although it may not qualify as an authorized Trust investment except for this provision, and may dispose of such property as and when the Trustee shall deem advisable.

(R) ASSISTANTS AND AGENTS: The Trustee is hereby granted all powers necessary to employ any person or persons the Trustee deems advisable for the proper administration of any Trust, including but not limited to: attorneys-at-law, accountants, financial planners, brokers, investment advisors, realtors, managers for businesses or farms, technical consultants, attorneys-in-fact, agents and any other consultants and assistants.

(S) RESERVES: The Trustee is hereby authorized to set aside and maintain reserves for the payment of present or future expenses, including but not limited to: taxes, assessments, insurance premiums, debt amortizations, repairs, improvements, depreciation, obsolescence, maintenance, fees, salaries and wages, as well as to provide for the effects of fluctuations in gross income, and to equal or apportion payments for the benefit of income beneficiaries under the Trust.

(T) MANAGEMENT OF REALTY: The Trustee is specifically authorized to deal with real and personalty, including oil, gas, and mineral rights in any manner lawful to an owner on any terms and for any period, including periods beyond the duration or termination of any Trusts.

(U) BUSINESS: With respect to any business that is part of or may become part of any Trust, no matter how such business may be organized, the Trustee is hereby granted the authority to:

a. hold, retain and continue to operate such business solely at the risk of the Trust estate and without liability to the Trustee for any resulting losses;

b. incorporate, dissolve, liquidate, or sell such business at any time and upon any terms as the Trustee deems advisable. In exercise of this authority, the Trustee may obtain a qualified appraisal, although the Trustee is not obligated in any way to seek other offers in contracting for sale to any person including another shareholder, trust, or beneficiary; mortgage, pledge or otherwise encumber any assets of any Trust to secure loans for any business purposes;

c. engage in the redemption of stock and to take such actions as are necessary to qualify the redemption under IRC Sections 302 or 303 and the applicable requirements of state law.

d. create a special lien for the payment of deferred death taxes under IRC Section 6324, or similar provisions of state law.

e. create, continue, or terminate an S-Corporation election.

Except as otherwise provided herein by provisions inconsistent therewith, the Trust shall be administered by the Trustee in accordance with the provisions of the Revised Uniform Income and Principal Act. See Arizona Code Sections 14-7401 through 14-7431.

9. AUTHORITY TO ACT: The approval of any court, the Trustor, or any beneficiary of any Trust created by this Trust shall not be required for any dealings with the Trustee of this Trust, and any person so dealing with the Trustee of this Trust shall assume that the Trustee has the same power and authority to act as any individual does in the management of his or her own affairs. Further, upon presentation of a copy of this page and any other page of this Trust, any person shall accept same as conclusive proof of the terms and authority granted by this Trust, and shall assume that no conflicting terms or directions are contained in any of the omitted pages.


10. MANAGEMENT OF TRUST PROPERTY: All property of the Trust shall be managed by the Trustee at the direction of the Trustor. The Trustee shall collect all income of the Trust, and shall pay from the income such amounts and to such persons as the Trustor may from time to time direct. In the absence of direction from the Trustor, the Trustee may accumulate the net income of the Trust, or may disburse any portion of the net income to or for the benefit of the Trustor. The Trustee is also authorized to pay from the principal of this Trust any and all amounts necessary for the health or maintenance of the standard of living of the Trustor.

Remainder of 22 page Document Omitted

Tips for Preparing Living Trust Forms

If you want to utilize a Living Trust Forms to successfully pass on your assets, you’ve most likely previously compared a living trust versus a will to learn all the differences between them. Nevertheless, here are some tips that will help you prepare the documents as quickly, painlessly, and correctly as possible.

  1. Assign roles. There are three roles that you need to include in your living trust form: grantor (you), beneficiary (heir/heiress), and trustee (executor). You can be an executor and continue to deal with all of the property and belongings.
  2. Produce a list of belongings. Select what you desire to successfully pass to your beneficiaries. For example, you can add cash and brokerage accounts, stock and bonds, personal property, and so on. Plus, you can put money that somebody owes you and add more special guidelines if you want to deliver cash to a minor.
  3. Include another trustee. In case you are both a grantor and trustee, you need to put in a successor trustee. In case of your incapacity, death, or sickness, the successor will continue to control your assets as outlined by your requirements. In general, your executor has all legal rights and responsibilities as you do; in exception, they can't revoke the trust.
  4. Collect documents. Planning a Living Trust Forms is definitely a lot of forms. You should gather all documents like stock certificates or life insurance package to prove your legal rights to pass them. Your living trust lawyer won't successfully pass on your assets and ownership without your support.