For some people, a living trust is a better option than a will. If you own significant assets, such as a home, you can save you family time and money by avoiding probate. You can create a living trust without an attorney using quality applications. A free form is included here for educational reference.
These estate planning products, provided by Nolo, can create a living trust that is legally valid in your state, customizable to suit your needs, professionally written, and regularly updated by expert attorneys. Use these to create a legal, enforceable trust document.
The form below is a very basic one, using boilerplate language, and is intended for educational purposes only. It has not been vetted by an expert, or updated. It may not be legally valid.
I, the undersigned, _____________________________, do hereby confer and bestow upon _______________________ ("Trustee"), the property as listed and set forth in Schedule A attached. Said Trustee does hereby make and execute this Declaration of Trust and hereby concurs and agrees on behalf of itself and its successors and assigns, to hold said property in trust to the following ends:
The property shall be held, managed, invested and reinvested by the Trustee, and its successor or successors, with all the powers to the Trustee as herein provided.
The Trustee shall divide the Trust Property into equal shares for each of the named beneficiaries:
and shall pay to, or apply for the benefit of, said named beneficiaries such amount, or amounts, of the net income and/or principal from each of said shares as the Trustee in its uncontrolled discretion may determine, any net income in any year which is not paid to, or applied for the benefit of, the beneficiary of each said share shall be added to the principal of said share at the end of the year.
The Trustee shall pay to each of the named beneficiaries the principal of the share held for his or her benefit, free and discharged from any Trust in or within one (1) year from the date of the death of the last surviving settlor unless this trust is sooner revoked.
In extension and not in limitation of the powers given them by law or other provisions of this instrument, the Trustee and any successor or successors shall have the full power with respect to any property in any Trust established hereunder, to deal with the same as if it were the owner thereof without order or license of any Court.
The interest of each beneficiary in the income and principal of a trust under this instrument shall be free from the control or interference of any creditor of the beneficiary or any spouse of a married beneficiary and shall not be subject to attachment or susceptible to anticipation or alienation.
This Declaration of Trust is revocable and the Settlor retains the power to alter, amend or revoke this instrument either in whole or in part at any time. Revocation shall be accomplished by a certificate of the Settlor delivered to the Trustee personally or by certified mail.
IN WITNESS WHEREOF __________________ and ___________________, Settlors, and __________________, Trustee, have hereunto set their hands and seals this _____ day of __________ (month), _____ (year).