Texas Revocable Living Trust Form

The Texas revocable living trust is more commonly employed than an irrevocable living trust as a tool for managing a person’s estate. The reason being that a revocable living trust can be altered or revoked by the Grantor at any time, as their circumstances may change. During the process of creating a living trust, the Grantor will transfer ownership of their property and assets into the trust. During their lifetime, they will continue to benefit from these assets and if/when they die or are incapacitated, the trust will be distributed or managed according to the their stipulations. When the trust estate is distributed, the properties and assets can be claimed by the named Beneficiaries without having to undergo the process of probate. By avoiding probate, the Beneficiaries will not have to endure the associated inconvenience and costs.

Laws – Chapter 112 (Creation, Validity, Modification, and Termination of Trusts)

How to Write

Step 1 – Download in Adobe PDF, Microsoft Word (.docx), or Open Text Document (.odt).

Step 2 – At the top of the revocable trust form, enter the Grantor’s name and the date. The names and addresses of the Grantor and appointed Trustee must be included below that.

Step 3 – Under Article 1, create a name for the Trust and select the box that applies to this particular Trust document; either an amendment of a prior trust or an original trust.

Step 4 – Article 4, Section A provides space for the Grantor to list their property. Enter the names of the individuals/organizations beside each item to indicate who will be inheriting these properties once the Grantor dies.

Step 5 – Section B of Article 4 has two (2) boxes below it to establish who will receive the Grantor’s personal property when they die. Select only one (1) of the boxes. If the second box was selected, a name, address, and Social Security number must be included.

Step 6 – If the Grantor has any pets, they must appoint a “Pet Caretaker” under Article 4, Section C. Enter the name and address of the Pet Caretaker as well as the name and address of an “Alternate Pet Caretaker” in case the first is unable to accept the responsibilities.

Step 7 – Part (ii) is only applicable to those who completed Section C. If a Pet Caretaker has been appointed, the Grantor must decide what time of funding to provide them. A dollar amount must be entered if the first box was selected. Also, provide a number of “Months” or “Years” that the funding will last.

Step 8 – Under Part (iii) of Section C, enter the name and address of the individual who will accept the responsibility of “3rd Party Enforcer.”

Step 9 – Under Article 4, Section D, enter the names, addresses, and Social Security numbers of the Beneficiaries who will receive equal shares of any residuary property.

Step 10 – Under Article 10, an accounting-request limit must be established. Enter a number and select “Months” or “Years” to indicate how long a Beneficiary must wait between making requests on the Trust’s assets.

Step 11 – Designate a Successor Trustee and 2nd Successor Trustee under Article 13, Section A by entering their names and addresses.

Step 12 – To provide a reasonable fee for the Trustees, select the second checkbox under Article 13, Section I. Select the first checkbox to provide no compensation.

Step 13 – Go to Article 15 to establish the number of days a person must survive the Grantor after death in order to benefit from the Trust.

Step 14 – Under Article 17, the Grantor’s marital status must be noted. If they are married, the Spouse’s name must be entered in the field provided.

This part only applies if the second checkbox was selected in the step above. If both Grantor and their Spouse die at the same time, and it is indeterminable who died first, it must be established how the Grantor’s estate will be transferred. Select one (1) of the two (2) options.

Step 15 – Under Article 18, enter all the names of the Grantor’s children. If the Grantor is childless, leave this Article blank.

Step 16 – To create an even more detailed Trust document, enter the list of individuals/organizations who should be specifically excluded from the Trust under Article 21.

Step 17 – Article 22 requires signatures from the Grantor, the Trustee, and the Successor Trustee. Include printed names and the date.

Step 18 – On the Self-Proving Affidavit page, enter the State and County in which this Trust was created. Next, the Grantor, Trustee, Successor Trustee, 2nd Successor Trustee, and two (2) witnesses must sign this form and include the date. The bottom section of this page only needs to be completed by the notary public if the document was notarized.

Step 19 – On the last page of the form, provide a list of all the assets and property that will be managed by the Trustee.
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STATUTORY DURABLE POWER OF ATTORNEY

STATUTORY DURABLE POWER OF ATTORNEY NOTICE:

THE POWERS GRANTED BY THIS DOCUMENT ARE BROAD AND SWEEPING. THEY ARE EXPLAINED IN THE DURABLE POWER OF ATTORNEY ACT, SUBTITLE P, TITLE 2, ESTATES CODE. IF YOU HAVE ANY QUESTIONS ABOUT THESE POWERS, OBTAIN COMPETENT LEGAL ADVICE. THIS DOCUMENT DOES NOT AUTHORIZE ANYONE TO MAKE MEDICAL AND OTHER HEALTH-CARE DECISIONS FOR YOU. YOU MAY REVOKE THIS POWER OF ATTORNEY IF YOU LATER WISH TO DO SO. IF YOU WANT YOUR AGENT TO HAVE THE AUTHORITY TO SIGN HOME EQUITY LOAN DOCUMENTS ON YOUR BEHALF, THIS POWER OF ATTORNEY MUST BE SIGNED BY YOU AT THE OFFICE OF THE LENDER, AN ATTORNEY AT LAW, OR A TITLE COMPANY. You should select someone you trust to serve as your agent. Unless you specify otherwise, generally the agent’s authority will continue until:

(1) you die or revoke the power of attorney;

(2) your agent resigns, is removed by court order, or is unable to act for you; or

(3) a guardian is appointed for your estate. I, __________________________________ (insert your name and address), appoint __________________________________ (insert the name and address of the person appointed) as my agent to act for me in any lawful way with respect to all of the following powers that I have initialed below.

(YOU MAY APPOINT CO-AGENTS. UNLESS YOU PROVIDE OTHERWISE, CO-AGENTS MAY ACT INDEPENDENTLY.) TO GRANT ALL OF THE FOLLOWING POWERS, INITIAL THE LINE IN FRONT OF (O) AND IGNORE THE LINES IN FRONT OF THE OTHER POWERS LISTED IN (A) THROUGH (N). TO GRANT A POWER, YOU MUST INITIAL THE LINE IN FRONT OF THE POWER YOU ARE GRANTING. TO WITHHOLD A POWER, DO NOT INITIAL THE LINE IN FRONT OF THE POWER. YOU MAY, BUT DO NOT NEED TO, CROSS OUT EACH POWER WITHHELD.

_____ (A) Real property transactions;

_____ (B) Tangible personal property transactions;

_____ (C) Stock and bond transactions;

_____(D) Commodity and option transactions;

_____ (E) Banking and other financial institution transactions;

_____ (F) Business operating transactions;

_____ (G) Insurance and annuity transactions;

_____ (H) Estate, trust, and other beneficiary transactions;

_____ (I) Claims and litigation;

_____ (J) Personal and family maintenance;

_____ (K) Benefits from social security, Medicare, Medicaid, or other governmental programs or civil or military service;

_____ (L) Retirement plan transactions;

_____ (M) Tax matters;

_____ (N) Digital assets and the content of an electronic communication;

_____ (O) ALL OF THE POWERS LISTED IN (A) THROUGH (N). YOU DO NOT HAVE TO INITIAL THE LINE IN FRONT OF ANY OTHER POWER IF YOU INITIAL LINE

(O).

SPECIAL INSTRUCTIONS: Special instructions applicable to agent compensation (initial in front of one of the following sentences to have it apply; if no selection is made, each agent will be entitled to compensation that is reasonable under the circumstances):

____ My agent is entitled to reimbursement of reasonable expenses incurred on my behalf and to compensation that is reasonable under the circumstances.

____ My agent is entitled to reimbursement of reasonable expenses incurred on my behalf but shall receive no compensation for serving as my agent. Special instructions applicable to co-agents (if you have appointed co-agents to act, initial in front of one of the following sentences to have it apply; if no selection is made, each agent will be entitled to act independently):

____ Each of my co-agents may act independently for me.

____ My co-agents may act for me only if the co-agents act jointly.

____ My co-agents may act for me only if a majority of the co-agents act jointly. PowerofAttorney.com Special instructions applicable to gifts (initial in front of the following sentence to have it apply):

_____ I grant my agent the power to apply my property to make gifts outright to or for the benefit of a person, including by the exercise of a presently exercisable general power of appointment held by me, except that the amount of a gift to an individual may not exceed the amount of annual exclusions allowed from the federal gift tax for the calendar year of the gift. ON THE FOLLOWING LINES YOU MAY GIVE SPECIAL INSTRUCTIONS LIMITING OR EXTENDING THE POWERS GRANTED TO YOUR AGENT. ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________

UNLESS YOU DIRECT OTHERWISE BELOW, THIS POWER OF ATTORNEY IS EFFECTIVE IMMEDIATELY AND WILL CONTINUE UNTIL IT TERMINATES. CHOOSE ONE OF THE FOLLOWING ALTERNATIVES BY CROSSING OUT THE ALTERNATIVE NOT CHOSEN:

(A) This power of attorney is not affected by my subsequent disability or incapacity.

(B) This power of attorney becomes effective upon my disability or incapacity. YOU SHOULD

CHOOSE ALTERNATIVE (A) IF THIS POWER OF ATTORNEY IS TO BECOME EFFECTIVE ON THE DATE IT IS EXECUTED. IF NEITHER (A) NOR (B) IS CROSSED OUT, IT WILL BE ASSUMED THAT YOU CHOSE ALTERNATIVE (A). If Alternative (B) is chosen and a definition of my disability or incapacity is not contained in this power of attorney, I shall be considered disabled or incapacitated for purposes of this power of attorney if a physician certifies in writing at a date later than the date this power of attorney is executed that, based on the physician's medical examination of me, I am mentally incapable of managing my financial affairs. I authorize the physician who examines me for this purpose to disclose my physical or mental condition to another person for purposes of this power of attorney.

A third party who accepts this power of attorney is fully protected from any action taken under this power of attorney that is based on the determination made by a physician of my disability or incapacity. I agree that any third party who receives a copy of this document may act under it. Termination of this durable power of attorney is not effective as to a third party until the third party has actual knowledge of the termination. I agree to indemnify the third party PowerofAttorney.com for any claims that arise against the third party because of reliance on this power of attorney. The meaning and effect of this durable power of attorney is determined by Texas law. If any agent named by me dies, becomes incapacitated, resigns, or refuses to act, or is removed by court order, or if my marriage to an agent named by me is dissolved by a court decree of divorce or annulment or is declared void by a court (unless I provided in this document that the dissolution or declaration does not terminate the agent's authority to act under this power of attorney), I name the following (each to act alone and successively, in the order named) as successor(s) to that agent: __________________________________ Signed this ____ day of __________________,20_____. __________________________________ (your signature) State of __________________________________ County of __________________________________

This document was acknowledged before me on __________________,20_____ (date) by __________________________________ (name of principal). (Seal, if any, of notary) __________________________________ (signature of notarial officer) __________________________________ (print name) My commission expires: __________________________________

IMPORTANT INFORMATION FOR AGENT

Agent’s Duties When you accept the authority granted under this power of attorney, you establish a “fiduciary” relationship with the principal. This is a special legal relationship that imposes on you legal duties that continue until you resign or the power of attorney is terminated, suspended or revoked by the principal or by operation of law. A fiduciary duty generally includes the duty to:

(1) act in good faith;

(2) do nothing beyond the authority granted in this power of attorney;

(3) act loyally for the principal’s benefit;

(4) avoid conflicts that would impair your ability to act in the principal’s best interest; and

(5) disclose your identity as an agent when you act for the principal by writing or printing the name of the principal and signing your own name as “agent” in the following manner:

_______________________ (Principal’s Name)

by _______________________ (Your Signature) as Agent

In addition, the Durable Power of Attorney Act (Subtitle P, Title 2, Estates Code) requires you to:

(1) maintain records for each action taken or decision made on behalf of the principal;

(2) maintain all records until delivered to the principal, released by the principal, or discharged by a court; and

(3) if requested by the principal, provide an accounting to the principal that, unless directed by the principal or otherwise provided in the Special Instructions, must include:

(A) the property belonging to the principal that has come to your knowledge or into your possession; (B) each action taken or decision made by you as agent;

(C) a complete account of receipts, disbursements, and other actions of you as agent that includes the source and nature of each receipt, disbursement or action, with receipts of principal and income shown separately;

(D) a listing of all property over which you have exercised control that includes an adequate description of each asset and the asset’s current value, if known to you;

(E) the cash balance on hand and the name and location of the depository at which the cash balance is kept;

(F) each known liability;

(G) any other information and facts known to you as necessary for a full and definite understanding of the exact condition of the property belonging to the principal; and

(H) all documentation regarding the principal’s property. Termination of Agent’s Authority You must stop acting on behalf of the principal if you learn or any event that terminates or suspends this power of attorney or your authority under this power of attorney.

An event that terminates this power of attorney or your authority to act under this power of attorney includes:

(1) the principal’s death;

(2) the principal’s revocation of this power of attorney or your authority;

(3) the occurrence of a termination event stated in this power of attorney;

(4) if you are married to the principal, the dissolution of your marriage by court decree of divorce or annulment or declaration that your marriage is void, unless otherwise provided in this power of attorney;

(5) the appointment and qualification of a permanent guardian of the principal’s estate unless a court order provides otherwise; or

(6) if ordered by a court, your removal as agent (attorney in fact) under this power of attorney. An event that suspends this power of attorney is the appointment and qualification of a temporary guardian unless a court order provides otherwise.

Liability of the Agent

The authority granted to you under this power of attorney is specified in the Durable Power of Attorney Act (Subtitle P, Title 2, Estates Code). If you violate the Durable Power of Attorney Act or act beyond the authority granted, you may be liable for any damages caused by the violation or subject to prosecution for misapplication of property by a fiduciary under Chapter 32 of the Texas Penal Code. THE AGENT, BY ACCEPTING OR ACTING UNDER THE APPOINTMENT, ASSUMES THE FIDUCIARY AND OTHER LEGAL RESPONSIBILITIES OF AN AGENT.

Texas Revocable Living Trust Form

How to Write

STATUTORY DURABLE POWER OF ATTORNEY

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