Living Trust Template – Revocable
Download This Resource
Get the fillable document, the editable version, and an action checklist:
The short version:
- A revocable living trust lets your family skip probate (the court process that proves a will), so your estate passes privately and faster. You can copy a complete trust from this page.
- You stay in full control while you are alive. Because the trust is revocable, you can change or undo it any time, and day to day nothing changes.
- It does not save estate tax, and it does not shield your own assets from creditors. Its job is avoiding probate and planning for incapacity, not cutting taxes.
- A trust only works if you fund it. Moving your house and accounts into the trust is the step most people skip, and an unfunded trust does nothing.
Download Your Free Living Trust Template
Putting an estate plan in place is one of those things that is easy to keep putting off, and completely normal to have not gotten to yet. Doing it is a quiet act of care for the people you love, sparing them a long court process at a hard time. A revocable living trust lets your family skip probate, the court process that proves a will and supervises handing out what you leave behind. Unlike a will, which becomes part of the public record, a trust passes your assets privately and according to your instructions. Download our free template below, or copy the full trust from this page.
Prefer a guided, fill-in-the-blank version with state-specific clauses? LawDepot walks you through a living trust step by step.
What’s included in this free download:
- Complete revocable living trust document
- Incapacity provisions (so your family avoids a court-appointed conservatorship)
- Three distribution options (immediate, staged by age, and discretionary)
- A trust for minor beneficiaries with age thresholds
- Spendthrift protection for your beneficiaries
- Schedule A (a list of the property you put in the trust)
- Certificate of Trust (the short version banks accept)
- A pour-over will companion template
What Is a Living Trust?
A living trust (formally a revocable living trust) is a legal arrangement you create while you are alive to hold your assets. You move ownership of your property into the trust, but because it is revocable, you keep complete control. You can add or remove assets, change who inherits, or undo the trust entirely at any time.
There are three roles, and while you are alive you fill all three:
- Grantor (also called settlor or trustor): You, the person who creates the trust and puts assets into it.
- Trustee: You again, managing the trust property day to day.
- Beneficiary: You again, enjoying the property.
Day to day, nothing feels different. You use your bank accounts, live in your house, and manage your investments as before. The only change is the name on the title: “Jane Smith, Trustee of the Jane Smith Living Trust dated [DATE]” instead of “Jane Smith.”
What changes is what happens after you are gone. The person you name as your successor trustee (the trusted person who takes over) hands out everything according to your instructions, without going through probate court.
Living Trust vs. Will: The Key Differences
Both documents say who gets what. The difference is mostly about probate, privacy, and planning for incapacity. (For a full cost comparison, see our living trust vs. will breakdown.)
| Feature | Last Will | Living Trust |
|---|---|---|
| Probate | Yes, court validates and supervises | No, private transfer |
| Time to distribute | Often 6 to 18 months | Often a few weeks to a few months |
| Privacy | Public record | Private |
| Incapacity planning | None on its own | Built in (successor trustee steps in) |
| Property in several states | Separate probate in each state | One trust covers all states |
| Effective | Only at death | During life and at death |
| Names a guardian for kids | Yes | No (this is why you still need a will) |
Why probate is worth avoiding: It takes time, it is public, and it costs money, often 3% to 7% of the estate once you add executor fees, attorney fees, and court costs. A few states set attorney fees by statute. In California, for example, the statutory fee on a $600,000 estate is about $15,000 for the attorney and another $15,000 for the executor, roughly $30,000 before other costs. The same estate in a funded living trust would pass for a small fraction of that. You can estimate your own exposure with our probate cost estimator.
When Do You Need a Living Trust? (Not Everyone Does)
A trust is a kind, practical gift to your family in the right situation, but it is not for everyone. Lean toward one if any of these fit:
- You own real estate, especially in more than one state. Without a trust, property in another state means a second probate there (called ancillary probate).
- Your estate is more than roughly $100,000 to $200,000. Below that, many states offer a simplified small-estate process that may be enough.
- You value privacy. A will becomes a public record; a trust does not.
- You have minor children, so their inheritance is managed by someone you choose and paid out at ages you set, not handed over in full at 18.
- You have a blended family and want to provide for a current spouse while preserving assets for children from a prior relationship.
- You want a plan for incapacity, so your successor trustee can step in without a court-appointed conservatorship (a court-supervised manager over your finances, which can cost $5,000 to $15,000 to set up).
You may not need a trust if your estate is small, everything already passes by beneficiary designation (life insurance, retirement accounts) or joint ownership, or you live in a state with a quick, low-cost probate. In those cases a solid last will plus beneficiary designations may be all you need.
Free Revocable Living Trust Template (Copy & Paste)
Here is a streamlined single-grantor revocable living trust you can copy from the page. It covers the core: Control during your life, a plan for incapacity, and a private handoff at death. Replace every bracketed field. For couples, blended families, or larger estates, use the full version in the download and read the “when to hire an attorney” section below.
REVOCABLE LIVING TRUST
This Revocable Living Trust (“Trust”) is made on [DATE] by [GRANTOR FULL NAME] (“Grantor”), who is also the initial Trustee.
1. Name. This Trust is known as the [GRANTOR FULL NAME] Living Trust dated [DATE].
2. Trust Property. The Grantor transfers to this Trust the property listed in the attached Schedule A and may add or remove property at any time.
3. Revocable. The Grantor may amend or revoke this Trust, in whole or in part, at any time by a signed writing.
4. Trustee and Successor. The Grantor serves as Trustee. On the Grantor’s death, resignation, or incapacity, [SUCCESSOR TRUSTEE FULL NAME] serves as Trustee, and if that person cannot serve, [ALTERNATE SUCCESSOR TRUSTEE].
5. During the Grantor’s Life. The Grantor keeps the full use and benefit of the Trust property. Trust income is reported on the Grantor’s own tax return using the Grantor’s Social Security number, and no separate trust tax return is required while the Trust is revocable.
6. Incapacity. If the Grantor is certified in writing by [one / two] licensed physician(s) as unable to manage their financial affairs, the successor Trustee manages the Trust for the Grantor’s health, support, and benefit until the Grantor recovers.
7. Distribution at Death. On the Grantor’s death, after paying the Grantor’s debts, final expenses, and any taxes, the Trustee distributes the remaining Trust property to [BENEFICIARIES AND SHARES, for example: “the Grantor’s spouse [NAME], or if the spouse does not survive the Grantor, to the Grantor’s children in equal shares”]. Any share that would pass to a beneficiary under age [AGE] is held in trust for that beneficiary until that age, with the Trustee paying for their health, education, and support in the meantime.
8. Spendthrift Protection. Before a share is actually distributed, a beneficiary may not assign or pledge it, and a beneficiary’s creditors may not reach it.
9. Trustee Powers. The Trustee has all powers granted to trustees under the law of the State of [STATE], including the power to hold, invest, manage, sell, and distribute Trust property.
10. Governing Law. This Trust is governed by the laws of the State of [STATE].
Grantor / Trustee Signature: __________________ Print Name: [GRANTOR] Date: ______
State of [STATE], County of [COUNTY]. Acknowledged before me (a notary public) on [DATE] by [GRANTOR NAME]. Notary: __________________
This template is general information, not legal advice. To work, it must be signed with your state’s formalities (usually before a notary) and, crucially, funded. Pair it with a pour-over will and a certificate of trust, both in the download.
What’s Inside the Full Template (Article by Article)
The download expands the core above into a complete document. Here is what each part does.
Trust creation and property: Names the trust, declares it revocable, and attaches Schedule A, the list of what you put in. As a rule, real estate, bank and brokerage accounts, business interests, and valuable personal property go into the trust. Retirement accounts (IRA, 401k) and life insurance stay out and pass by beneficiary designation instead.
Trustee provisions: You serve while able; a successor trustee takes over on incapacity or death. Choose someone trustworthy and organized, name at least one alternate, and consider whether they will outlive you and can handle family dynamics.
Incapacity: This is the quiet advantage over a will. If you cannot manage your affairs, your successor trustee shows the incapacity certification to your bank and steps in, with no court, no delay, and no conservatorship.
Distribution at death: Choose outright (paid immediately), staged (for example, a third at 25, half the rest at 30, the balance at 35), or fully discretionary (the trustee holds and pays out only as needed, the strongest protection for a beneficiary who is young or has creditor risk).
Spendthrift provision: This keeps a beneficiary’s creditors, a divorcing spouse, or a bankruptcy from reaching their share while it is still in the trust. Once it is paid out to them, that protection ends, which is why a discretionary share is the safer choice for some families.
How to Create Your Living Trust (Step-by-Step)
Step 1: Fill Out the Trust Document
Complete the template (or the copy-paste version above). This creates the trust as a legal arrangement.
Step 2: Sign With the Right Formalities
Sign before a notary public. Some states suggest witnesses as well, though most do not require them. Your signature makes you both the grantor and the initial trustee.
Step 3: Fund the Trust (the Step Most People Skip)
A trust only controls what is actually in it. Creating the document without moving your assets is like buying a safe and leaving your valuables on the counter.
| Asset | How to move it into the trust |
|---|---|
| Real estate | New deed from your name to “[Your Name], Trustee of [Trust Name],” recorded with the county |
| Bank accounts | Ask the bank to retitle the account into the trust’s name |
| Brokerage / investments | Ask the firm to retitle the account to the trust |
| LLC interest | An assignment document, plus an update to the operating agreement |
| Personal property | A written assignment, listed on Schedule A |
Allow a few weeks for transfers to process. Start with real estate (slowest) and bank accounts (quickest).
Step 4: Add a Pour-Over Will
A pour-over will is a short companion will that catches anything you forgot to move into the trust and directs it into the trust at death. Those stray assets still pass through probate, but at least they end up under your trust’s terms. A will also names a guardian for minor children, which a trust cannot do, so you need both. Parents of minor children should also sign a standalone designation of guardian, which can act faster than a will in an emergency.
Step 5: Create a Certificate of Trust
This is a one or two page summary that confirms the trust exists, who the trustee is, and what powers they have. Banks accept it instead of your full trust, so your private terms stay private.
Step 6: Store It Safely and Tell Your Successor Trustee
Keep the signed original somewhere safe, give your successor trustee a copy or tell them where it is, and keep Schedule A current as your assets change. If your wishes change later, use a trust amendment rather than crossing things out.
Free Template vs. Online Builder vs. Attorney
Our free template suits many families. Here is the honest trade-off.
| Option | Typical cost | Best for | Trade-off |
|---|---|---|---|
| Free template (like ours) | $0 | Straightforward estates, nuclear families, assets under the estate-tax exemption | You handle your own funding and state details |
| Online builder (e.g., LawDepot) | Subscription or per-document | People who want guided questions and state-specific language | Ongoing cost; still not tailored legal advice |
| Estate-planning attorney | ~$1,500 to $5,000 | Blended families, special-needs or tax planning, business succession | Highest cost; longer process |
Hire an estate-planning attorney if your estate is near the federal exemption, you have a blended family that needs a more complex trust structure, you are providing for a special-needs beneficiary (whose benefits a wrong move can jeopardize), or you are planning business succession.
Want state-specific clauses plus the pour-over will and certificate of trust generated for you? LawDepot’s living trust builder handles it.
Common Living Trust Mistakes
Mistake 1: Creating the Trust but Never Funding It
The most common and most costly error. If you never move your house and accounts into the trust, those assets go through probate anyway, which is exactly what you were trying to spare your family.
Mistake 2: Skipping the Pour-Over Will
Even a well-funded trust misses something. Without a pour-over will, anything left outside passes by your state’s intestacy rules (its default list of who inherits), possibly to people you would not have chosen.
Mistake 3: Not Updating After Major Life Changes
A divorce, a remarriage, a new child or grandchild, a big change in assets, or a move to a new state all call for an update. An outdated trust can be worse than none.
Mistake 4: Naming Only One Successor Trustee
If your only successor cannot serve, the trust has no one to run it and you are back in court. Name at least one alternate.
Mistake 5: Not Getting a New Tax ID After the Grantor’s Death
While you are alive, the trust uses your Social Security number. After death it becomes irreversible and needs its own EIN from the IRS. Continuing to use the deceased’s number creates tax problems for your successor trustee.
Frequently Asked Questions
Does a living trust avoid estate taxes?
No. A standard revocable living trust does not reduce estate tax, because the assets still count as yours for tax purposes. For 2026, the federal estate tax exemption is $15 million per person ($30 million for a married couple), made permanent by the 2025 federal tax law, so the vast majority of estates owe no federal estate tax regardless. Married couples with larger estates can use built-in A/B trust structures to make full use of both exemptions. See our estate tax calculator to check where you stand.
Do I lose control of my assets in a living trust?
No. Because the trust is revocable and you are the trustee, you keep complete control. You can sell property, withdraw money, change beneficiaries, or undo the trust at any time. During your life it works much like owning the assets in your own name.
Does a living trust protect my assets from creditors?
Not while you are alive. Because you control the assets, your creditors can reach them. The spendthrift provision protects your beneficiaries’ shares from their creditors after your death, as long as those shares stay in the trust and are not paid out.
Do I need both a living trust and a will?
Yes. You need a pour-over will alongside the trust. It catches any asset you did not move into the trust, and it is also where you name a guardian for minor children, which a trust cannot do.
How much does it cost to maintain a living trust?
While you are alive, essentially nothing. You file no separate tax return, need no separate tax ID, and owe no trust-specific fees. The only effort is moving new assets into the trust as you acquire them.
Can a living trust be contested?
Yes, but it is harder than contesting a will. Because you used and managed the trust during your life, a challenger has to prove you lacked capacity or were unduly influenced when you created it, and the years of normal operation are strong evidence that you were fine.
Download Your Free Living Trust Template
Skip probate, keep your affairs private, and plan for incapacity. Copy the trust above, or download the full revocable living trust with its pour-over will and certificate of trust, and give your family one less hard thing to handle later.
Prefer a guided experience? LawDepot’s living trust builder asks plain-English questions and generates your trust, pour-over will, and certificate of trust.
Available formats:
- Microsoft Word (.docx), fully editable
- PDF with fillable fields
- Google Docs for cloud editing
Sources & References
This guide is fact-checked against the following official and authoritative sources:
Fact-checked: July 2026 · ClearLegalTips editorial team. This is legal information, not legal advice.
ClearLegalTips is an independent publisher of plain-English legal guides, free document templates, and cost calculators for common U.S. legal tasks. Every article is reviewed by founder and editor Fatih Öztürk and fact-checked against official sources: statutes, court fee schedules, and government filing pages. Not a law firm; nothing here is legal advice.
