REVOCABLE LIVING TRUST AGREEMENT

(Idaho — Governed by Idaho Code Ann. tit. 15, ch. 7)

[// GUIDANCE: This template is drafted to comply with the Idaho Uniform Trust Code (“UTC”) and related probate provisions. Customize bracketed items, schedules of property, and beneficiary designations before execution. For real property, record a Memorandum of Trust in each county where real estate is situated to preserve privacy while providing notice of trustee authority.]

DOCUMENT HEADER

This Revocable Living Trust Agreement (“Agreement”) is made and entered into effective as of [EFFECTIVE DATE] (the “Effective Date”) by and between [SETTLOR NAME], of [ADDRESS] (“Settlor,” who may also be referred to as “Grantor”), and [INITIAL TRUSTEE NAME], of [ADDRESS] (“Initial Trustee”).

The Settlor desires to create a revocable inter vivos trust to hold and manage the Trust Estate (as defined below) both during the Settlor’s lifetime and after death for the benefit of the persons and purposes set forth herein. The Trustee is willing to accept the duties imposed by this Agreement and to hold the Trust Estate subject to the terms and conditions that follow.

TABLE OF CONTENTS

I. Definitions
II. Operative Provisions
III. Representations & Warranties
IV. Covenants & Restrictions
V. Default & Remedies
VI. Risk Allocation
VII. Dispute Resolution
VIII. General Provisions
IX. Execution Block
Appendix A – Trustee Powers (Long‐Form)
Schedule 1 – Initial Trust Property
Schedule 2 – Successor Trustee Acceptance

I. DEFINITIONS

For ease of reference, capitalized terms have the meanings set forth below; terms not defined shall have the meanings given under applicable Idaho law.

“Accounting Period” – The calendar year unless the Trustee selects another fiscal year in writing.
“Beneficiary” – Any person or entity who is entitled or eligible to receive distributions from, or whose benefit may be served by, the Trust.
“Disability” – Settlor’s inability to manage property or financial affairs, evidenced by (a) written certification of two licensed physicians, or (b) judicial determination of incapacity.
“Distribution” – Any income or principal paid or applied for the benefit of a Beneficiary.
“Revocable Period” – The period during Settlor’s lifetime while Settlor is competent, during which Settlor retains the power to amend or revoke this Trust.
“Successor Trustee” – Any person or entity appointed pursuant to Section II.7 to act when the Initial Trustee ceases to serve.
“Trust” or “Trust Estate” – All property, tangible or intangible, real or personal, transferred to or acquired by the Trustee, together with all reinvestments and accretions.
“Trustee” – The Initial Trustee and any Successor Trustee then‐serving.
“UTC” – Idaho Uniform Trust Code, Idaho Code Ann. tit. 15, ch. 7.

[// GUIDANCE: Add/modify defined terms as needed for specialized assets (e.g., Digital Assets, Closely Held Business Interests).]

II. OPERATIVE PROVISIONS

2.1 Transfer of Property

(a) Concurrently with execution, Settlor hereby transfers to the Trustee the property described on Schedule 1.
(b) Additional property may be transferred to the Trustee at any time by the Settlor or any other person, by assignment, deed, beneficiary designation, or other valid conveyance (collectively, “Funding Instruments”).

[// GUIDANCE: Re‐title bank/brokerage accounts to “[Settlor], Trustee, [Trust Name] u/a dated [Date].” For real property, use a warranty or quitclaim deed into the Trustee.]

2.2 Revocation and Amendment

During the Revocable Period, Settlor may amend, revoke, or withdraw any or all Trust Assets by signed, written instrument delivered to the Trustee. Amendments shall become effective upon such delivery unless otherwise stated. Upon Settlor’s death or Disability, the Trust shall become irrevocable except as expressly provided herein.

2.3 Distributions During Settlor’s Lifetime

During the Revocable Period, the Trustee shall distribute to or for Settlor’s benefit so much of the net income and principal as Settlor may request in writing. Absent such request, the Trustee may pay Settlor’s expenses and taxes as they become due.

2.4 Management During Settlor’s Disability

If Settlor is Disabled:
(a) The Trustee shall apply or expend such income or principal as the Trustee determines necessary for Settlor’s health, education, maintenance, and support (“HEMS Standard”).
(b) Excess income, if any, may be accumulated or added to principal.

2.5 Disposition Upon Settlor’s Death

(a) Debts & Expenses. The Trustee may pay Settlor’s funeral expenses, last illness costs, legally enforceable debts, and estate administration expenses.
(b) Marital/Family Bequests. [INSERT spousal/children sub-trusts or outright gifts.]
(c) Residuary Trust. The remaining Trust Estate shall be held, administered, and distributed as follows: [DESCRIBE residuary distribution scheme].

[// GUIDANCE: For tax-driven structures (e.g., Credit Shelter/QTIP), insert marital deduction, GST, and disclaimer provisions here.]

2.6 Spendthrift Provision

To the maximum extent permitted by Idaho law, no Beneficiary shall voluntarily or involuntarily transfer, assign, or encumber any interest in the Trust, nor shall such interest be subject to creditor claims prior to actual receipt.

2.7 Trusteeship

(a) Initial Trustee. [INITIAL TRUSTEE NAME] hereby accepts the office of Trustee.
(b) Successor Trustees. If the then-serving Trustee ceases to serve, the following individuals/entities, in listed order, shall serve as Successor Trustee(s):
 1. [NAME 1]
 2. [NAME 2]
 3. [CORPORATE FIDUCIARY]

[// GUIDANCE: Confirm each named Successor’s eligibility under Idaho Code Ann. § 15-7-301 et seq.]

(c) Appointment by Majority of Adult Beneficiaries. If no named Successor is able or willing to act, a majority of adult income Beneficiaries may appoint a Successor Trustee in a signed instrument delivered to the last acting Trustee or, if none, filed with the clerk of the [COUNTY] Probate Court.
(d) Bond. No bond shall be required of any individual Trustee unless demanded by a court of competent jurisdiction for cause.
(e) Trustee Resignation. A Trustee may resign (i) by thirty (30) days’ written notice to the Settlor (if living) and the adult Beneficiaries, or (ii) with court approval.
(f) Co-Trustees. Co-Trustees must act by majority unless otherwise provided. Any Co-Trustee may delegate ministerial acts to another Co-Trustee in writing.

2.8 Trustee Powers

The Trustee shall have all powers conferred by Idaho Code, common law, and this Agreement, including without limitation those enumerated in Appendix A.

2.9 Accounting & Reports

The Trustee shall provide at least annual written reports to the current income Beneficiaries and, on reasonable request, to any other Qualified Beneficiary as defined by the UTC. Each report shall include a statement of receipts, disbursements, and assets at market value.

III. REPRESENTATIONS & WARRANTIES

3.1 Settlor represents and warrants that:
(a) Settlor has full legal capacity and title to all property transferred or to be transferred to the Trust;
(b) No property transferred is subject to undisclosed liens or adverse claims;
(c) Execution of this Agreement does not violate any contractual or legal obligation of Settlor.

3.2 Trustee represents and warrants that:
(a) Trustee is qualified and willing to serve and has obtained all consents, licenses, or approvals required to act;
(b) Trustee will administer the Trust in good faith and in accordance with the prudent investor rule;
(c) Trustee will keep accurate records and segregate Trust property from personal assets.

Representations and warranties shall survive execution and any Trustee succession.

IV. COVENANTS & RESTRICTIONS

4.1 Settlor covenants to execute all documents and take all steps reasonably requested by Trustee to effectuate transfers of property to the Trust.

4.2 Trustee covenants to:
(a) Maintain adequate insurance on all insurable Trust property;
(b) File all required tax returns and elections;
(c) Seek fair market value in all disposals of Trust assets unless a Beneficiary waives that requirement in writing.

4.3 Prohibited Transactions. The Trustee shall not loan Trust funds to itself, the Settlor, or any Beneficiary, nor engage in self-dealing except with prior written consent of all Qualified Beneficiaries or a court order.

V. DEFAULT & REMEDIES

5.1 Events of Default
(a) Trustee’s fraud, willful misconduct, or gross negligence;
(b) Persistent failure to render required reports;
(c) Material breach of fiduciary duty as adjudicated by a court.

5.2 Notice & Cure
Beneficiaries must give Trustee written notice specifying the alleged default. Trustee shall have thirty (30) days to cure, unless the default is incapable of cure or involves misappropriation of Trust Assets.

5.3 Remedies
Upon uncured default, Beneficiaries may:
(a) Petition the Probate Court for removal of Trustee and appointment of a Successor;
(b) Seek surcharge against the Trustee limited to Trust Assets;
(c) Obtain injunctive relief to prevent dissipation of Trust Assets.

Attorney’s fees and costs incurred in enforcing this Section shall be payable from the Trust Estate unless the court allocates them to the breaching party for cause.

VI. RISK ALLOCATION

6.1 Trustee Indemnification
The Trust Estate shall indemnify and hold the Trustee harmless from any and all claims, liabilities, and expenses (including reasonable attorneys’ fees) arising out of the administration of the Trust, except to the extent caused by the Trustee’s fraud, willful misconduct, or gross negligence.

6.2 Limitation of Liability
The Trustee’s liability to any person shall be limited to the value of the Trust Assets, and no personal liability shall attach to the Trustee for any act taken in good faith and without gross negligence.

6.3 Insurance
The Trustee may purchase fiduciary liability insurance and charge premiums to the Trust Estate.

6.4 Force Majeure
The Trustee shall not be liable for delays or failures in performance caused by acts of God, war, pandemic, or other events beyond the Trustee’s reasonable control, provided the Trustee acts diligently to mitigate adverse consequences.

VII. DISPUTE RESOLUTION

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

7.2 Forum Selection
Exclusive jurisdiction and venue for all judicial proceedings concerning this Trust shall lie in the Probate Division of the [COUNTY] District Court, State of Idaho.

7.3 Arbitration (Optional)
[OPTIONAL – STRIKE IF NOT DESIRED] Any dispute not subject to mandatory probate jurisdiction may, at the election of all parties, be submitted to binding arbitration administered by the American Arbitration Association under its Trust & Estate Arbitration Rules. Judgment on the award may be entered in any court of competent jurisdiction.

7.4 Jury Waiver
To the extent a matter is deemed triable by jury, the parties knowingly and voluntarily waive any right to a jury trial. This waiver does not apply to proceedings that, under Idaho law, must be tried without a jury.

7.5 Injunctive Relief
Nothing herein shall limit any party’s right to seek temporary, preliminary, or permanent injunctive relief to protect the Trust or enforce fiduciary obligations.

VIII. GENERAL PROVISIONS

8.1 Amendment & Waiver
Except as otherwise provided, any amendment or waiver must be in a signed writing by the Settlor (while the Trust is revocable) or by all Qualified Beneficiaries and the Trustee (after the Trust becomes irrevocable), and shall reference the section amended or waived.

8.2 Assignment
Interests in the Trust may not be assigned, voluntarily or involuntarily, except as expressly permitted herein or by non-waivable operation of law.

8.3 Successors & Assigns
This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors and permissible assigns.

8.4 Severability
If any provision is held invalid or unenforceable, the remaining provisions shall be enforced to the fullest extent permitted, and the invalid provision shall be reformed to effectuate the parties’ intent.

8.5 Entire Agreement
This instrument constitutes the entire agreement of the parties with respect to the subject matter and supersedes all prior understandings.

8.6 Counterparts & Electronic Signatures
This Agreement may be executed in multiple counterparts, each of which shall be deemed an original. Signatures delivered via facsimile, PDF, or electronic signature platform shall be deemed effective for all purposes.

8.7 Headings
Headings are for convenience only and shall not affect interpretation.

IX. EXECUTION BLOCK

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

NOTARY ACKNOWLEDGMENT

State of Idaho )
County of [____] ) ss.

On this _ day of _, 20__, before me, the undersigned, a Notary Public in and for said State, personally appeared [SETTLOR NAME] and [TRUSTEE NAME], known or proven to me to be the persons whose names are subscribed to the within instrument, and acknowledged that they executed the same for the purposes therein contained.

Notary Public for Idaho
My Commission Expires: _______

[// GUIDANCE: Idaho does not mandate witnesses for trusts, but if real property is involved, consider obtaining witness signatures to facilitate recording in some title offices.]

APPENDIX A – TRUSTEE POWERS (LONG‐FORM)

The Trustee shall, without court authorization, have all powers available under Idaho Code Ann. tit. 15, ch. 7, including but not limited to:

1. Invest and reinvest Trust Assets pursuant to the prudent investor rule;
2. Retain assets received, regardless of diversification;
3. Buy, sell, exchange, mortgage, lease, or otherwise dispose of real or personal property;
4. Exercise options, voting rights, conversion privileges, and subscription rights;
5. Participate in reorganizations, mergers, or other business transactions;
6. Employ and compensate professionals (e.g., attorneys, accountants, custodians);
7. Borrow money and pledge Trust Assets as security;
8. Make distributions in cash or in kind, pro rata or non-pro rata;
9. Divide or combine Trusts or shares;
10. Determine income and principal allocations consistent with uniform principal and income statutes;
11. Prosecute, defend, or settle claims;
12. Execute and deliver all instruments necessary or desirable to carry out Trust purposes.

SCHEDULE 1 – INITIAL TRUST PROPERTY

(Attach deeds, account statements, stock certificates, or descriptions sufficient to transfer title.)

1. $[AMOUNT] in cash via check no. [_] deposited to [BANK NAME] Account No. [_]
2. [Legal description of real property]
3. [Share certificates]
4. [Digital assets inventory]

SCHEDULE 2 – SUCCESSOR TRUSTEE ACCEPTANCE

I, [SUCCESSOR TRUSTEE NAME], hereby accept appointment as Successor Trustee under the Revocable Living Trust Agreement dated [EFFECTIVE DATE] and agree to be bound by its terms.

_____ Date: ______
[SUCCESSOR TRUSTEE NAME]

[// GUIDANCE: Following execution, record a Certification or Memorandum of Trust (Idaho Code Ann. § 15-7-1013) in any county where real estate is located; do not record the full trust to maintain confidentiality.]