DISCLAIMER
This template is provided for general informational and drafting purposes only and is not legal advice. Use by, or reliance upon, this form does not create an attorney-client relationship with the drafter or with OpenAI. Practitioners must review, adapt, and validate the form for each specific matter, client, and fact pattern, and must ensure compliance with all current federal and Georgia laws, regulations, and local court rules before use.
REVOCABLE LIVING TRUST AGREEMENT
(State of Georgia)
TABLE OF CONTENTS
- Document Header
- Definitions
- Operative Provisions
3.1. Trust Creation; Name
3.2. Identification of Parties
3.3. Revocation & Amendment
3.4. Funding & Asset Transfers
3.5. Beneficial Interests & Distribution Standards
3.6. Trustee Powers & Duties
3.7. Successor Trustee Provisions
3.8. Incapacity, Guardianship & Conservatorship - Representations & Warranties
- Covenants & Restrictions
- Default & Remedies
- Risk Allocation
- Dispute Resolution
- General Provisions
- Execution Block
- Schedule A – Initial Trust Property
- Schedule B – Trustee Compensation (Optional)
1. DOCUMENT HEADER
This Revocable Living Trust Agreement (“Trust Agreement”) is entered into and made effective as of [EFFECTIVE DATE] (the “Effective Date”) by and between [SETTLOR FULL LEGAL NAME], of [ADDRESS] (“Settlor”), and [INITIAL TRUSTEE NAME], of [ADDRESS] (“Trustee”).
The parties agree as follows:
A. Settlor desires to create a revocable inter vivos trust pursuant to the Georgia Trust Code (Title 53, Official Code of Georgia Annotated) for the purpose of managing and distributing Settlor’s assets during Settlor’s lifetime and after death.
B. Trustee is willing to accept the duties and obligations imposed herein on the terms and conditions stated.
C. Settlor, acting pursuant to O.C.G.A. § 53-12-20 et seq., hereby transfers to Trustee the property listed in Schedule A, to be held, administered, and distributed as provided herein.
2. DEFINITIONS
For clarity and consistency, capitalized terms shall have the meanings set forth below. All section cross-references are internal to this Trust Agreement unless otherwise indicated.
“Accounting Period” – Each calendar year ending December 31 or such shorter period as may be required on termination of the Trust or trustee succession.
“Applicable Law” – All federal laws and the laws of the State of Georgia, including the Georgia Trust Code (Title 53, O.C.G.A.), as amended from time to time.
“Beneficiary” – Any person or entity entitled to receive income or principal of the Trust, whether current, contingent, or remainder.
“Dispositive Event” – Settlor’s death, resignation, disability as determined under Section 3.8, or other event expressly triggering distribution under Section 3.5.
“Fiduciary” – The Trustee, any Successor Trustee, and any co-trustee acting hereunder.
“Trust” – The trust created by this Trust Agreement, known as “[TRUST NAME]” (the “[SETTLOR SURNAME] Revocable Living Trust”).
“Trust Estate” – All property, real or personal, tangible or intangible, held from time to time by Trustee under this Trust Agreement, including all additions, accumulations, reinvestments, and proceeds thereof.
“Trustee” – The individual or corporate fiduciary named in Section 3.2 or appointed in accordance with Section 3.7.
3. OPERATIVE PROVISIONS
3.1 Trust Creation; Name
Settlor hereby creates a revocable trust under Georgia law to be known as “[TRUST NAME].” Title to all Trust Estate shall be taken, held, and conveyed in the name of “[TRUSTEE NAME], Trustee of the [TRUST NAME] dated [EFFECTIVE DATE].”
3.2 Identification of Parties
a. Settlor: [SETTLOR NAME], SSN [###-##-####]
b. Initial Trustee: [TRUSTEE NAME]
c. Primary Beneficiary(ies): [BENEFICIARY NAME(S)]
[// GUIDANCE: Include marital status and children’s names here if relevant.]
3.3 Revocation & Amendment
3.3.1 Revocability. During Settlor’s lifetime and capacity, Settlor may revoke or amend this Trust, in whole or in part, by delivering to Trustee a written instrument executed with at least the formality of this Trust Agreement.
3.3.2 Partial Revocation. Unless expressly stated otherwise, any revocation shall apply solely to the portion expressly identified and all remaining provisions shall remain in full force.
3.3.3 Effectiveness. Revocations and amendments become effective upon actual receipt by Trustee.
3.4 Funding & Asset Transfers
3.4.1 Present Transfer. Concurrently with execution, Settlor assigns to Trustee the property described in Schedule A.
3.4.2 Future Transfers. Settlor or any other person may transfer additional assets to Trustee at any time by deed, assignment, beneficiary designation, or other effective conveyance.
3.4.3 Real Property. Any deed conveying Georgia real property to the Trust shall meet the formalities of a recordable deed under O.C.G.A. § 44-5-33 (two witnesses, one of whom is a notary) and shall reference this Trust by name and date.
3.4.4 Tangible Personal Property. Settlor may fund the Trust with tangible personal property by executing a separate assignment of personal property.
[// GUIDANCE: Attach a separate “General Assignment” for personal property or reference a pour-over provision if used in Settlor’s will.]
3.5 Beneficial Interests & Distribution Standards
3.5.1 During Settlor’s Lifetime.
(a) Income and principal shall be distributed to or for Settlor’s benefit as Settlor directs, or, absent direction, as Trustee deems advisable for Settlor’s health, education, maintenance, and support (“HEMS Standard”).
(b) With Settlor’s written consent, Trustee may make gifts from principal to Settlor’s descendants or charitable organizations within annual exclusion limits.
3.5.2 Upon a Dispositive Event. Upon Settlor’s death, Trustee shall:
(a) Pay Settlor’s legally enforceable debts, funeral expenses, and estate administration costs from Trust principal to the extent not paid by the probate estate.
(b) Allocate remaining Trust Estate in accordance with the dispositive clauses below:
– Sub-Trust A (Surviving Spouse) – [PERCENT]%
– Sub-Trust B (Children’s Trust) – [PERCENT]%
– Charitable Legacy – [DOLLAR AMOUNT OR %]
[// GUIDANCE: Revise distribution scheme to match client objectives.]
3.5.3 Spendthrift Protection. To the maximum extent permitted by Applicable Law, no Beneficiary may voluntarily or involuntarily transfer, anticipate, or encumber any interest prior to actual receipt; nor shall such interest be subject to the claims of creditors or legal process.
3.6 Trustee Powers & Duties
Subject to fiduciary duties under Applicable Law, Trustee shall have, without court approval, all powers granted to trustees by the Georgia Trust Code, including but not limited to:
a. Investment authority under the Georgia Prudent Investor Act;
b. Power to buy, sell, lease, exchange, or option real or personal property;
c. Power to borrow, encumber, or pledge Trust assets;
d. Discretion to allocate receipts and expenses between income and principal;
e. Authority to employ professionals (attorneys, CPAs, investment advisors) and pay reasonable fees;
f. Right to rely upon any affidavit, certificate, or written statement believed in good faith to be genuine.
[// GUIDANCE: Consider augmenting powers to align with the trustee’s investment philosophy.]
3.7 Successor Trustee Provisions
3.7.1 Order of Succession. If the initial Trustee resigns, dies, becomes incapacitated, or is removed, the next designated Successor Trustee shall be:
1. [FIRST SUCCESSOR TRUSTEE NAME]
2. [SECOND SUCCESSOR TRUSTEE NAME]
3.7.2 Acceptance. A Successor Trustee accepts appointment by providing a signed acceptance to the resigning Trustee or, if none, to the primary Beneficiary.
3.7.3 Resignation. A Trustee may resign by giving 30 days’ written notice to Settlor (if living) and all then-current income Beneficiaries.
3.7.4 Removal. Settlor (if living) or a majority in interest of current income Beneficiaries may remove a Trustee for cause (e.g., breach of trust, incapacity) by written instrument delivered to the Trustee and all Beneficiaries.
3.7.5 Transition. Title to Trust Estate vests automatically in the Successor Trustee without necessity of deed or assignment; nevertheless, resigning Trustee shall execute all documents reasonably requested for confirmation of transfer.
3.8 Incapacity, Guardianship & Conservatorship
3.8.1 Determination. Incapacity of Settlor or Trustee shall be established by:
(a) Certification of two licensed physicians; or
(b) Court order of incompetency or appointment of conservator.
3.8.2 Effect. During any period of Settlor’s incapacity, Trustee shall administer and apply Trust Estate for Settlor’s benefit under the HEMS Standard without the necessity of court approval.
4. REPRESENTATIONS & WARRANTIES
4.1 Settlor represents that:
(a) Settlor is of legal age, of sound mind, and under no constraint or undue influence.
(b) All property transferred or to be transferred is free of undisclosed liens or adverse claims.
4.2 Trustee represents that:
(a) Trustee has full legal authority to act and is not disqualified under O.C.G.A. § 53-12-211.
(b) Trustee will faithfully discharge all fiduciary duties owed to Beneficiaries.
4.3 Survival. The foregoing representations and warranties shall survive execution and any trustee succession.
5. COVENANTS & RESTRICTIONS
5.1 Trustee Covenants. Trustee shall:
(a) Administer the Trust in good faith, in accordance with its terms and Applicable Law;
(b) Keep accurate books and records and provide an annual written accounting to Settlor (if living) and current Beneficiaries;
(c) Maintain adequate insurance on Trust assets where commercially reasonable.
5.2 Beneficiary Covenants. Each Beneficiary shall furnish Trustee with such tax identification numbers, addresses, and information reasonably required for administration.
6. DEFAULT & REMEDIES
6.1 Events of Default. Any of the following shall constitute a “Trustee Default”:
(i) Knowing breach of fiduciary duty;
(ii) Gross negligence or willful misconduct;
(iii) Persistent failure to render required accountings;
(iv) Misappropriation or commingling of Trust assets.
6.2 Notice & Cure. Any Beneficiary may serve written notice specifying the Default. Trustee shall have 30 days to cure unless the breach is incapable of cure or threatens irreparable harm.
6.3 Remedies. Upon an uncured Default, Beneficiaries may petition the [COUNTY] Probate Court for:
(a) Removal of Trustee and appointment of Successor;
(b) Surcharge and restitution;
(c) Injunctive relief, including temporary restraining orders to preserve Trust Estate;
(d) Attorneys’ fees and costs.
7. RISK ALLOCATION
7.1 Indemnification
The Trustee (including any Successor Trustee) shall be indemnified, to the extent of the Trust Estate, against any liability, claim, or expense (including reasonable attorneys’ fees) incurred by reason of service hereunder, except for liability arising from Trustee’s bad faith, intentional misconduct, or gross negligence.
7.2 Limitation of Liability
Except as provided under Applicable Law for breach of trust, the liability of any Trustee shall be limited to the value of the Trust Estate under such Trustee’s control at the time such liability is determined.
7.3 Force Majeure
Trustee shall not be liable for delays, losses, or failure to act resulting from acts of God, war, terrorism, pandemic, governmental action, or other events beyond Trustee’s reasonable control, provided Trustee uses commercially reasonable efforts to mitigate adverse effects.
8. DISPUTE RESOLUTION
8.1 Governing Law
This Trust Agreement and all disputes arising hereunder shall be governed by and construed in accordance with the laws of the State of Georgia, without regard to its conflict-of-laws rules.
8.2 Forum Selection
Exclusive jurisdiction and venue for all proceedings concerning the interpretation or enforcement of this Trust shall lie in the Probate Court of [COUNTY], Georgia, except as provided in Section 8.3 if arbitration is elected.
8.3 Optional Arbitration
[OPTION 1 – STRIKE IF NOT DESIRED]
Any party may elect, by written notice to all other parties, to submit any controversy or claim arising out of or relating to this Trust to binding arbitration administered by the American Arbitration Association under its Trust and Estate Arbitration Rules. Judgment on the award may be entered in any court of competent jurisdiction.
[// GUIDANCE: Some practitioners avoid arbitration for trusts; confirm client preference.]
8.4 Jury Trial Waiver
To the extent any dispute is litigated, the parties acknowledge that trust matters are ordinarily resolved without a jury in probate court. Accordingly, each party knowingly and voluntarily waives any right to trial by jury where such waiver is permitted.
8.5 Injunctive Relief
Nothing in this Section shall limit the right of any party to seek provisional or injunctive relief from the Probate Court of [COUNTY] to preserve the Trust Estate pending resolution of the dispute.
9. GENERAL PROVISIONS
9.1 Amendment & Waiver. Except as otherwise provided, this Trust may be amended only in accordance with Section 3.3. No waiver of any provision shall be deemed a waiver of any other provision or subsequent breach.
9.2 Assignment. Beneficial interests are nonassignable except as expressly provided herein.
9.3 Successors & Assigns. The terms of this Trust shall bind and benefit all successors, assigns, heirs, and personal representatives of the parties.
9.4 Severability. If any provision is determined unenforceable, the remaining provisions shall continue in full force, and the invalid provision shall be reformed to the minimum extent necessary.
9.5 Entire Agreement. This Trust constitutes the entire agreement among the parties regarding the Trust subject matter and supersedes all prior written or oral agreements.
9.6 Counterparts. This Trust may be executed in multiple counterparts, each of which shall be deemed an original, and all of which together constitute one instrument.
9.7 Electronic Signatures. Signatures transmitted electronically (e.g., via PDF or electronic signature platform) shall be deemed originals for all purposes.
9.8 Headings. Section headings are for reference only and shall not affect interpretation.
10. EXECUTION BLOCK
Executed as a sealed instrument under Georgia law on the Effective Date first written above.
Settlor
[SETTLOR NAME]
Trustee
[TRUSTEE NAME], Trustee
Witnesses
- _________ (Witness #1)
- _________ (Witness #2)
Notary Public (State of Georgia)
Subscribed and sworn before me this _ day of _, 20__.
Notary Public
My Commission Expires: _______
[// GUIDANCE: Georgia law does not strictly require witnesses or notarization for a trust instrument; however, if the Trust will hold real property or may need to be recorded, execution with deed formalities (two witnesses, one a notary) is prudent.]
11. SCHEDULE A – INITIAL TRUST PROPERTY
(List each asset with sufficient detail: account numbers redacted, legal descriptions for real estate, VIN for vehicles, etc.)
| Item No. | Description | Titled Owner | Value (Approx.) |
|---|---|---|---|
| 1 | [Example: 123 Main St., Atlanta, GA 30303] | [SETTLOR] | $XXX,XXX |
| 2 | [Example: Brokerage Account #****1234 at XYZ Investments] | [SETTLOR] | $XXX,XXX |
12. SCHEDULE B – TRUSTEE COMPENSATION (Optional)
- Individual Trustee: Annual fee equal to [PERCENT]% of Trust assets under management, payable quarterly.
- Corporate Trustee: As per published fee schedule attached hereto.
[// GUIDANCE: If no fee, insert “Trustee shall serve without compensation but shall be reimbursed for reasonable expenses.”]
[// GUIDANCE: Before implementation, confirm consistency with the Settlor’s will (e.g., pour-over clause), coordinate beneficiary designations on non-probate assets, and update real property deeds to reflect trust ownership. Review Georgia Uniform Transfer-on-Death provisions and potential estate tax planning issues.]