How to Make a Revocable Trust Without a Lawer
Estate planning is traditionally handled by a will. One drawback, however, is that the document must be put through probate to transfer the assets of the decedent's estate. Probate can be timely and costly depending on your individual state's procedure. You can avoid probate by creating a trust and funding the trust with assets that you want to pass to your friends and family when you die. A revocable trust can be revoked by the founder at any time prior to his death.
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Instructions
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Visit your local law library and copy revocable trust forms. These forms act as templates and contain the language and information you need to create your trust document. Forms are also available on the Internet.
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Draft your "Declaration of Trust." This document creates your trust. The document must state that it is a revocable trust and must name a trustee. Typically, the person creating the revocable trust names herself as trustee until she dies and lists an alternative trustee. Next, the document sets forth the powers and duties of the trustee (the person with authority to use the trust property). Explain how you want your property to be distributed when you die.
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Create a document that lists the property you will place in your trust. The document should list major assets that you own, including property, cars and bank accounts. Title this document "Trust Property." Attach this document to the trust.
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Transfer property into the trust. Any property you own that you want in your trust must be transferred to the trust. For real property you own, execute a deed naming the trust as the new owner. Put your bank accounts in the name of the trust.
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Create a "pour-over will." This is a basic will. However, the only person who receives anything in the will is your trust. This transfers all your remaining assets to the trust when you pass away.
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