REVOCABLE LIVING TRUST AGREEMENT

(“[TRUST NAME]”)

Effective as of [EFFECTIVE DATE]

TABLE OF CONTENTS

I. Document Header
II. Definitions
III. Operative Provisions
IV. Representations & Warranties
V. Covenants & Restrictions
VI. Default & Remedies
VII. Risk Allocation
VIII. Dispute Resolution
IX. General Provisions
X. Execution Block

I. DOCUMENT HEADER

1. Parties
   1.1 Settlor: [SETTLOR NAME], residing at [ADDRESS] (“Settlor”).
   1.2 Initial Trustee: [TRUSTEE NAME], residing at [ADDRESS] (“Trustee”).
   1.3 Successor Trustee(s): [SUCCESSOR TRUSTEE NAME(S)] (collectively, “Successor Trustee”).

2. Recitals
   A. Settlor, desiring to provide for the management and disposition of property during life and after death, hereby establishes this Revocable Living Trust (the “Trust”).
   B. This Trust is governed by the Alaska Uniform Trust Code, AS 13.36 et seq., and other applicable Alaska law (collectively, the “Act”).
   C. Trustee accepts the duties and obligations set forth herein and agrees to administer the Trust Estate for the benefit of the Beneficiaries.

3. Consideration
   The mutual covenants and agreements herein constitute good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged.

[// GUIDANCE: For married Settlors, insert separate paragraphs identifying each Settlor and adjust pronouns accordingly.]

II. DEFINITIONS

The following terms, when capitalized, have the meanings set forth below. Defined terms apply equally to singular and plural forms.

“Act” – Alaska Statutes Title 13, Chapter 36, as amended from time to time.
“Arbitration Election” – Has the meaning set forth in Section VIII.2.
“Beneficiary” – Any person or entity entitled to distributions under this Agreement.
“Disability” – Settlor’s inability to manage property or finances, as certified in writing by two licensed physicians.
“Distribution Event” – Settlor’s death or other event expressly stated to require distribution of Trust assets.
“Trust Estate” – All property transferred to, vested in, or acquired by the Trustee under this Agreement, together with all additions, substitutions, and accumulations.
“Trustee” – The Initial Trustee and any Successor Trustee then serving.

[// GUIDANCE: Add additional defined terms (e.g., “Children,” “Spouse,” specific sub-trust names) as needed for client objectives.]

III. OPERATIVE PROVISIONS

1. Creation & Name
   1.1 Settlor hereby creates the “[TRUST NAME]” as a revocable inter vivos trust under Alaska law.
   1.2 Title to all Trust Estate shall be held and administered by Trustee for the uses and purposes herein stated.

2. Transfer of Assets (“Funding”)
   2.1 Concurrently with execution, Settlor assigns, transfers, or delivers to Trustee the property described on Schedule A attached hereto.
   2.2 Additional Property. Settlor or any other person may at any time transfer additional property to the Trust by assignment, deed, registration, beneficiary designation, or other valid transfer method.
   2.3 Real Property. Legal title to real property located in Alaska shall be conveyed by statutory warranty deed naming “[TRUSTEE NAME], Trustee of the [TRUST NAME], dated [EFFECTIVE DATE]” as grantee.
   2.4 Tangible Personal Property. A general Assignment of Personal Property executed by Settlor shall be sufficient to transfer unscheduled tangible assets.

[// GUIDANCE: Provide clients with separate deed and assignment templates to effectuate funding; unfunded trusts offer little probate avoidance benefit.]

3. Revocation & Amendment
   3.1 Settlor reserves the unrestricted right to revoke or amend this Trust, in whole or in part, during Settlor’s lifetime by a written instrument signed by Settlor and delivered to Trustee.
   3.2 Pursuant to AS 13.36.035, any later-executed will or codicil may revoke or amend this Trust only if the trust is expressly identified therein.

4. Lifetime Administration
   4.1 During Settlor’s lifetime and while not under Disability, Trustee shall distribute to or for the benefit of Settlor so much of the net income and principal as Settlor directs.
   4.2 Upon Settlor’s Disability, Trustee may apply net income and principal for Settlor’s health, maintenance, and support, considering other available resources.

5. Post-Death Administration
   5.1 Upon Settlor’s death, Trustee shall:
   a. Pay enforceable debts, funeral expenses, and legally imposed taxes from the Trust Estate;
   b. Allocate remaining assets in accordance with Article [V] or Schedule B (Beneficiary Designations).
   5.2 Specific, demonstrative, and residuary gifts shall abate in that order if required to satisfy liabilities.

6. Spendthrift & Assignment Restrictions
   Except as otherwise mandated by law (AS 34.40.110(c)(2)), the interest of any Beneficiary shall not be subject to voluntary or involuntary transfer, assignment, or alienation.

7. Trustee Powers
   Trustee shall have, in addition to statutory powers under AS 13.36.157, all powers that an absolute owner of the same property would have, including without limitation power to:
   a. Invest and reinvest;
   b. Lease for any term;
   c. Borrow and pledge Trust assets;
   d. Employ professionals and delegate authority per AS 13.36.339;
   e. Make tax elections and settlements.

8. Termination
   The Trust shall terminate upon final distribution of the Trust Estate in accordance with this Agreement.

IV. REPRESENTATIONS & WARRANTIES

1. Settlor warrants:
   a. Full legal capacity to execute this Agreement;
   b. Sole and absolute ownership of the property listed on Schedule A, free of undisclosed liens.

2. Trustee warrants:
   a. Eligibility to serve under AS 13.36.065;
   b. Will faithfully administer the Trust in good faith, in accordance with the Act and this Agreement.

3. Survival. The above representations and warranties survive acceptance of the Trust assets and any resignation or removal of Trustee.

V. COVENANTS & RESTRICTIONS

1. Trustee Covenants
   a. Accountings. Provide annual written accountings to the Beneficiaries and to Settlor during Settlor’s lifetime.
   b. Prudent Administration. Administer the Trust as a prudent person would, consistent with AS 13.36.225–290 (Uniform Prudent Investor Act).
   c. Recordkeeping. Maintain accurate books and records available for inspection upon reasonable notice.

2. Beneficiary Covenants
   Beneficiaries shall timely furnish Trustee with any tax identification information and execute documents reasonably requested to facilitate administration.

VI. DEFAULT & REMEDIES

1. Events of Default
   a. Trustee’s willful misconduct, gross negligence, or breach of fiduciary duty;
   b. Failure to provide required accountings within 60 days after written notice;
   c. Incapacity of Trustee without appointment of an acting Successor Trustee.

2. Remedies
   a. Removal. Any Beneficiary or co-trustee may petition the [ALASKA SUPERIOR COURT, PROBATE DIVISION] for removal of a defaulting Trustee under AS 13.36.310.
   b. Cure Period. Trustee shall have 30 days after written notice of default to cure, except in cases of willful misconduct.
   c. Surcharge. Trustee may be surcharged to restore any loss to the Trust Estate resulting from breach.
   d. Attorneys’ Fees & Costs. Reasonable fees and costs incurred in enforcing these remedies shall be charged to the defaulting Trustee personally.

VII. RISK ALLOCATION

1. Indemnification
   To the fullest extent permitted by law, the Trust Estate shall indemnify the Trustee and hold the Trustee harmless from any claim, liability, or expense (including attorneys’ fees) arising from the administration of the Trust, except for losses resulting from Trustee’s willful misconduct or gross negligence.

2. Limitation of Liability
   Trustee’s liability is limited to Trust assets; no personal liability shall attach to Trustee for any debt, obligation, or liability of this Trust, save for those arising from Trustee’s willful misconduct or gross negligence.

3. Insurance
   Trustee may purchase and maintain fiduciary liability insurance from Trust assets.

4. Force Majeure
   Trustee shall not be liable for delays or failures in performance caused by events beyond Trustee’s reasonable control (e.g., natural disasters, war, governmental actions).

VIII. DISPUTE RESOLUTION

1. Governing Law
   This Agreement and the Trust shall be governed by, and construed in accordance with, the laws of the State of Alaska, without regard to conflict-of-laws principles.

2. Forum Selection
   Exclusive jurisdiction and venue for all proceedings concerning the Trust shall lie in the [ALASKA SUPERIOR COURT, PROBATE DIVISION, [COUNTY] JUDICIAL DISTRICT], except as otherwise provided in Section VIII.3.

3. Optional Arbitration
   a. Election. If [ARBITRATION_ELECTION: “Elected” / “Not Elected”] is “Elected”, any dispute that a court of competent jurisdiction deems arbitrable under applicable law shall be resolved by binding arbitration in [CITY, ALASKA] under the Commercial Arbitration Rules of the American Arbitration Association.
   b. Carve-Out. Notwithstanding the foregoing, Trustee may seek temporary, preliminary, or permanent injunctive relief from the Probate Court to enforce fiduciary obligations or protect Trust assets.

4. Jury Waiver
   To the extent a dispute is adjudicated in court, the parties acknowledge that Alaska probate proceedings are tried without a jury.

IX. GENERAL PROVISIONS

1. Amendment & Revocation
   Governed by Section III.3.

2. Assignment
   Interests of Beneficiaries are not assignable except as expressly permitted herein. Trustee may delegate ministerial duties but not core discretionary functions.

3. Successors & Assigns
   This Agreement binds and benefits the parties and their respective heirs, personal representatives, successors, and permitted assigns.

4. Severability
   If any provision is held invalid, illegal, or unenforceable, the remaining provisions shall remain in full force, and a court may reform the invalid provision to best effectuate the Settlor’s intent.

5. Entire Agreement
   This instrument constitutes the entire trust agreement, superseding all prior understandings.

6. Counterparts & Electronic Signatures
   This Agreement may be executed in one or more counterparts, each of which is deemed an original, and all of which constitute the same instrument. Signatures transmitted electronically shall be deemed originals.

7. Headings
   Headings are for convenience only and do not affect interpretation.

[// GUIDANCE: Add HIPAA authorization, marital deduction, GST provisions, or special-needs sub-trust language as warranted by the client’s estate plan.]

X. EXECUTION BLOCK

IN WITNESS WHEREOF, the Settlor and Trustee have executed this Revocable Living Trust Agreement as of the Effective Date.

[// GUIDANCE: If Settlor and Trustee are the same person, use dual-capacity signature lines or separate signatures.]

NOTARY ACKNOWLEDGMENT (Alaska – Individual)

STATE OF ALASKA )
: ss. )
JUDICIAL DISTRICT )

On this ___ day of ____, 20__, before me, the undersigned notary public, personally appeared [SETTLOR NAME] and [TRUSTEE NAME], known to me or satisfactorily proven to be the individuals whose names are subscribed to the within instrument and acknowledged that they executed the same for the purposes therein contained.

IN WITNESS WHEREOF, I hereunto set my hand and official seal.

Notary Public for the State of Alaska
My commission expires: __

SCHEDULE A

(Property Transferred to Trust at Inception)

1. Checking Account #____, [BANK NAME]
2. Real Property located at [LEGAL DESCRIPTION], Anchorage, Alaska
3. 100% membership interest in [LLC NAME], an Alaska limited liability company
4. Household furnishings and personal effects

SCHEDULE B

(Disposition of Trust Estate Upon Settlor’s Death)

1. Specific Gifts
   a. $____ to [CHARITY]
   b. 1 carat diamond ring to [CHILD NAME]

2. Residue
   The remainder of the Trust Estate shall be distributed in equal shares to Settlor’s children: [LIST NAMES], per stirpes. Should any child predecease Settlor leaving issue, such issue shall take their parent’s share by right of representation.

[// GUIDANCE: Attach Pour-Over Will and Certification of Trust to complete the estate plan package.]