This is a legal document that determines how an individual's property is to be managed
and distributed during their lifetime and also upon death. This type of trust, also called
an "inter-vivos trust,” is created by a settlor, who transfers assets into the trust, which
are then distributed to the beneficiaries. This particular trust is revocable and
designates the settlor’s adult children as the beneficiaries, but this agreement can easily
be customized to provide for different beneficiaries. This document can be used by
individuals that want to create a trust to distribute assets for the benefit of their children
upon their death.
REVOCABLE INTER-VIVOS TRUST
THIS INTER-VIVOS REVOCABLE TRUST (this “Instrument”) is made this ____ day of
_________, 20_____, by __________________ [Comment: insert Settlor’s name] of County of
___________________, State of ___________________, as Settlor, and _____________________
[Comment: insert name of Trustee], as Trustee.
RECITALS
WHEREAS, Settlor is a individual and Settlor has one or more children who are alive;
WHEREAS, Settlor has _____ (__) children, referred to herein in as “child” or “children,” all of
them adults, namely: (1) _______________, who resides at ___________________ in the of
County of ___________________, State of ___________________; (2) ___________________,
who resides at ________________ in the County of ___________________, State of
___________________; and (3) ___________________, who resides at ________________ in the
County of ___________________, State of ___________________;
WHEREAS, Settlor declares that Settlor has transferred to the Trustee the property described in
Schedule “A” attached to this Instrument;
WHEREAS, Trustee hereby agrees to hold such property and any other property included in the
trust estate, in trust, on the terms and conditions set forth herein;
WHEREAS, Settlor wishes, by this Instrument, to create an inter-vivos revocable trust in
accordance with the laws of the State of ___________________ whereby Settlor’s separate
property will be held in trust and managed for Settlor’s benefit during Settlor’s lifetime and
distributed to the beneficiaries named herein upon Settlor’s death;
I. TRUST ESTATE
1. TRUST ESTATE
All property subject to this Instrument is referred to as the “trust estate” and shall be held,
administered, and distributed according to terms and conditions set forth in this Instrument.
2. TRUST PROPERTY
A. The trust estate consists of the property (plus the undistributed income and proceeds
generated by such property) listed in Schedule “A” and hereafter transferred to the trust by
the Settlor or Settlor’s will as insurance proceeds or pension benefits, or from any other
person or source.
B. The Settlor’s property, listed in Schedule “A” or subsequently added to the trust estate, is the
separate estate of Settlor.
II. INCOME AND PRINCIPAL DISTRIBUTIONS DURING LIFE
During the Settlor’s lifetime, the Trustee shall pay to or apply for the benefit of Settlor the net
income of Settlor’s separate property in _________________ [quarter-annual or more frequent
installments]. The Trustee shall pay to or apply for the benefit of said Settlor as much of the
principal as the Settlor directs or as is necessary in the Trustee’s discretion for the proper health,
education, support, maintenance, comfort and welfare of the Settlor in accordance with Settlor’s
accustomed manner of living at the date of this instrument.
III. SHOULD SETTLOR BECOME INCAPACITATED
1. PAYMENTS FOR BENEFIT OF INCAPACITATED SETTLOR
A. If at any time, Settlor’s physician or, if such Settlor has no attending physician, two
licensed physicians, not related by blood or marriage to Settlor or any beneficiary of this
trust, certifies in writing that Settlor has become incapacitated, whether or not a court of
competent jurisdiction has declared Settlor incompetent or mentally ill or has appointed a
conservator, the Trustee shall take the steps outlined in this Article.
B. Trustee shall apply for the benefit of Settlor, amounts of net income and principal necessary
in the Trustee’s discretion for the proper health, support, maintenance, comfort and welfare
of Settlor according to Settlor’s habituated manner of living during Settlor’s lifetime.
C. The Trustee shall make such payments until Settlor is again able to manage Settlor’s own
affairs, or until Settlor’s death, as determined by Settlor’s physician, or if Settlor has not
attending physician, by two licensed physicians not related by blood or marriage to the
Settlor or to any beneficiary of this trust.
D. In making distributions of principal, the Trustee shall take into consideration any