REVOCABLE LIVING TRUST AGREEMENT

(“[NAME OF TRUST]”)

Drafted for use under Massachusetts law (M.G.L. c. 203E, Massachusetts Uniform Trust Code)

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

1.1 Parties
a. Settlor: [FULL LEGAL NAME], of [ADDRESS] (“Settlor”).
b. Initial Trustee: [FULL LEGAL NAME], of [ADDRESS] (“Trustee”).
c. Trust: The trust created by this agreement shall be known as the “[NAME OF TRUST]” (the “Trust”).

1.2 Recitals
a. Settlor desires to create a revocable living trust to hold certain property during Settlor’s lifetime and to provide for the orderly management and disposition of such property upon Settlor’s incapacity or death.
b. Trustee is willing to hold and administer the Trust Property (defined below) for the benefit of the Beneficiaries (defined below) under the terms of this Agreement and applicable Massachusetts law.

1.3 Effective Date & Governing Law
This Agreement is effective as of [EFFECTIVE DATE] (the “Effective Date”) and shall be governed by and construed in accordance with the laws of the Commonwealth of Massachusetts, including without limitation the Massachusetts Uniform Trust Code, M.G.L. c. 203E, as amended (the “MUTC”).

II. DEFINITIONS

[// GUIDANCE: Add or delete defined terms as appropriate for the client’s estate plan.]

“Accounting Period” – Each calendar year ending December 31, or such shorter period as the Trustee may select.

“Beneficiaries” – Collectively, the persons or entities entitled to present or future beneficial interests in the Trust as identified in Section 3.4.

“Disability” – The Settlor’s incapacity as certified in writing by two licensed physicians (or by a court of competent jurisdiction).

“Distribution Date” – The first business day occurring [___] months after the Settlor’s death unless otherwise accelerated or deferred under Section 3.5.

“Person” – Any natural person, corporation, partnership, limited liability company, trust, estate, association, or other legal entity.

“Trust Assets” – All property, tangible or intangible, real or personal, transferred to or otherwise acquired by the Trustee and held from time to time pursuant to this Agreement.

III. OPERATIVE PROVISIONS

3.1 Creation & Funding
a. Transfer of Property. Settlor hereby assigns, transfers, and delivers to Trustee the property described in Schedule A attached hereto and any additional property later transferred pursuant to Section 3.1(b) (collectively, the “Trust Property”).
b. Subsequent Transfers. Settlor or any other Person may transfer additional property to the Trust by deed, assignment, beneficiary designation, or other valid conveyance.

3.2 Revocation or Amendment
a. Settlor may revoke or amend this Agreement, in whole or in part, at any time during Settlor’s lifetime and competency by delivering a written, signed, and notarized instrument to the Trustee.
b. Upon revocation, the Trustee shall promptly convey the Trust Property as directed by the Settlor.

3.3 Trustee Powers & Duties
a. Powers. The Trustee shall have all powers granted to a trustee under the MUTC and common law, including but not limited to those listed in Schedule B (the “Trustee Powers”).
b. Duties. The Trustee shall administer the Trust Property prudently and in good faith, solely in the interests of the Beneficiaries, and in accordance with the provisions hereof and applicable law.
c. Duty to Inform & Account. The Trustee shall provide annual accountings within sixty (60) days after each Accounting Period and such additional information as reasonably requested by any Qualified Beneficiary (as defined under the MUTC).

3.4 Beneficiaries & Distributions During Settlor’s Lifetime
a. During Settlor’s lifetime and competency, the Trustee shall distribute to or for the Settlor’s benefit so much of the net income and principal as the Settlor may request.
b. During any period of Disability, the Trustee may distribute to or for the Settlor’s benefit such amounts of income or principal as the Trustee, in its discretion, deems necessary or advisable for the Settlor’s health, education, maintenance, or support.

3.5 Disposition Upon Settlor’s Death
Upon the Settlor’s death, the Trustee shall:
i. Pay legally enforceable debts, expenses of administration, and taxes;
ii. Distribute specific bequests listed in Schedule C; and
iii. Hold, manage, and distribute the remaining Trust Assets to the remainder Beneficiaries in accordance with Schedule D.

3.6 Successor Trustees
a. Designation. The first Successor Trustee shall be [NAME], followed by [ALTERNATE NAME] if the prior nominee is unable or unwilling to serve.
b. Assumption of Office. A Successor Trustee shall assume office upon written acceptance delivered to the acting Trustee or, if none, to the Beneficiaries.
c. Resignation & Removal. Any Trustee may resign by thirty (30) days’ written notice to the Settlor (if living) or the adult Beneficiaries. A Trustee may be removed (with or without cause) by a written instrument signed by (i) the Settlor, or (ii) a majority in interest of the adult Beneficiaries after the Settlor’s death.

3.7 Trustee Compensation & Expenses
The Trustee shall be entitled to reasonable compensation and reimbursement of properly incurred expenses, payable from the Trust Assets.

3.8 Administrative Provisions
a. Spendthrift Protection. To the fullest extent permitted by law, the interests of Beneficiaries shall be free from the claims of creditors and from assignment or anticipation.
b. Merger. If the Trustee is also the sole Beneficiary, no merger shall occur and the Trust shall continue in existence.

IV. REPRESENTATIONS & WARRANTIES

4.1 Settlor
a. Capacity. Settlor represents that Settlor is at least eighteen (18) years old and of sound mind.
b. Ownership. Settlor represents that any property transferred to the Trust is owned free of liens or encumbrances other than as disclosed to the Trustee.

4.2 Trustee
a. Authority. Trustee represents that Trustee has full authority to execute and deliver this Agreement and to perform its duties hereunder.
b. No Conflict. Trustee warrants that its acceptance of trusteeship does not violate any agreement or legal obligation to which the Trustee is a party.

[// GUIDANCE: Survival clauses are generally unnecessary in trusts; reps/warranties apply at inception.]

V. COVENANTS & RESTRICTIONS

5.1 Affirmative Covenants of Trustee
a. Maintain complete and accurate books and records.
b. Invest Trust Assets prudently under the Massachusetts Prudent Investor Act.
c. File all required tax returns for the Trust.

5.2 Negative Covenants of Trustee
a. Refrain from self-dealing except as expressly permitted under Section 7.2.
b. Not commingle Trust Assets with non-trust property.

5.3 Notice & Cure
Before asserting a breach of covenant, any Beneficiary shall give the Trustee written notice specifying the alleged breach and a 30-day opportunity to cure.

VI. DEFAULT & REMEDIES

6.1 Events of Default
a. Willful misconduct, gross negligence, or material breach of fiduciary duty by the Trustee.
b. Failure to provide required accountings within 60 days after written request.

6.2 Remedies
a. Removal of Trustee by the Probate and Family Court;
b. Surcharge of the Trustee’s compensation;
c. Specific performance or injunctive relief to enforce fiduciary duties; and
d. Recovery of attorneys’ fees and costs as provided in Section 6.3.

6.3 Attorneys’ Fees
In any proceeding arising out of an Event of Default, the prevailing party shall be entitled to reasonable attorneys’ fees and costs, payable from the Trust Assets unless the court orders otherwise.

VII. RISK ALLOCATION

7.1 Trustee Indemnification
The Trustee (including former Trustees) shall be indemnified and held harmless out of the Trust Assets against all claims, liabilities, and expenses, except to the extent resulting from the Trustee’s willful misconduct or gross negligence.

7.2 Limitation of Liability
To the maximum extent permitted by law, the liability of the Trustee to any Person shall be limited to the value of the Trust Assets held by such Trustee. No personal liability shall attach to the Trustee for any obligations of the Trust.

7.3 Insurance
The Trustee may, but is not required to, obtain fiduciary liability insurance, the premiums for which may be paid from the Trust Assets.

7.4 Force Majeure
The Trustee shall not be liable for delays or failures in performance resulting from events beyond the Trustee’s reasonable control, including but not limited to acts of God, war, terrorism, or changes in law.

VIII. DISPUTE RESOLUTION

8.1 Governing Law
This Agreement and all disputes hereunder shall be governed by Massachusetts law without regard to its conflict-of-laws principles.

8.2 Forum Selection
Exclusive jurisdiction and venue for all judicial proceedings relating to this Trust shall lie in the Probate and Family Court of the county in Massachusetts where the Settlor resided at death (or where the Trust is administered if the Settlor is living).

8.3 Optional Arbitration
[OPTIONAL – CHECK BOX] ☐ If selected, any dispute that could otherwise be brought in Probate Court shall first be submitted to confidential, binding arbitration in [CITY], Massachusetts, administered by [AAA/JAMS] under its then-current Trust & Estates Arbitration Rules. Judgment on the award may be entered in any court of competent jurisdiction.

8.4 Jury Waiver
To the extent a jury trial might otherwise be available, the parties knowingly and voluntarily waive such right; provided, however, that Massachusetts Probate and Family Court generally conducts bench trials.

8.5 Injunctive Relief
Nothing in this Article shall impair any party’s right to seek temporary, preliminary, or permanent injunctive relief from a court of competent jurisdiction to enforce the terms of this Trust.

IX. GENERAL PROVISIONS

9.1 Amendments & Waivers
Only the Settlor (if competent) may amend this Agreement. No waiver of any provision shall be effective unless in writing and signed by the party against whom the waiver is asserted.

9.2 Assignment
No Beneficiary may assign, transfer, or encumber any beneficial interest in the Trust except as permitted under Section 3.8(a).

9.3 Successors & Assigns
This Agreement shall be binding upon and inure to the benefit of the Settlor, the Trustee, the Beneficiaries, and their respective successors and assigns.

9.4 Severability
If any provision is held invalid or unenforceable, the remaining provisions shall remain in full force and effect and shall be construed to carry out the Settlor’s intent.

9.5 Integration
This Agreement constitutes the entire agreement among the parties with respect to the subject matter hereof and supersedes all prior understandings.

9.6 Counterparts; Electronic Signatures
This Agreement may be executed in any number of counterparts, each of which is deemed an original, and all of which constitute one instrument. Signatures delivered electronically or by PDF shall be deemed original signatures.

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

X. EXECUTION BLOCK

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

COMMONWEALTH OF MASSACHUSETTS
[COUNTY], ss. [DATE]

On this _ day of _, 20, before me, the undersigned notary public, personally appeared [SETTLOR NAME] and [TRUSTEE NAME], proved to me through satisfactory evidence of identification to be the persons whose names are signed on this document, and acknowledged to me that they signed it voluntarily for its stated purpose.

Notary Public
My Commission Expires: ______

[// GUIDANCE: If real property will be retitled to the Trust, record a trustee’s certificate under M.G.L. c. 184, § 35 to avoid disclosing the full trust instrument.]

SCHEDULE A

(Initial Trust Property)

SCHEDULE B

(Trustee Powers – Non-Exhaustive)
1. Invest and reinvest in any kind of property or security.
2. Buy, sell, exchange, lease, or otherwise dispose of Trust Assets.
3. Borrow funds and pledge Trust Assets as security.
4. Employ agents, attorneys, and advisors and delegate duties.
5. Merge or divide trusts with substantially similar terms.

SCHEDULE C

(Specific Bequests)
• $[_____] to [BENEFICIARY NAME]
• [Item] to [BENEFICIARY NAME]

SCHEDULE D

(Disposition of Remaining Trust Assets)
[Describe outright distribution, continuing trusts for descendants, charitable gifts, etc.]

[// GUIDANCE: Review Massachusetts estate tax thresholds and include tax-planning provisions (credit shelter, QTIP) if needed. Ensure consistency between the Settlor’s pourover will and this Trust.]