Free Tennessee Revocable Living Trust

Step 1 of 21

What type of property do you want to put in your Living Trust?
- Real estate
- Financial accounts
- Business ownership
- Personal property
- Mix of assets

Location
Where do you live?
Different states have different rules and regulations.
Your Revocable Living Trust will be customized for .

Grantor
Are you creating this Living Trust with anyone else?
- Yes
- No
Who are you creating this trust with?
- My spouse
- Someone else

Spouse
Do you have a spouse?
- Yes
- No
What is your spouse's name?

e.g. William Timothy Smith

Your Details

What is your name?
Full Name:

e.g. William Timothy Smith
City/Town:

e.g. Frankfort

Second grantor Details

Who are you creating this trust with?
Full Name:

e.g. William Timothy Smith
City/Town:

e.g. Frankfort
State:

Spouse Details

Who is your spouse?
Full Name:

e.g. William Timothy Smith
City/Town:

e.g. Frankfort
State:

Trustee
Will you control your assets as trustee?
- Yes
- No
Will you and your co-grantor control your assets as trustees?
- Yes
- No

Trustee Details

Who will be your trustee?
Trustee
First Trustee
Full Name:

e.g. William Timothy Smith
City/Town:

e.g. Frankfort
State:
Second Trustee
- Add another trustee
Second Trustee
Full Name:

e.g. William Timothy Smith
City/Town:

e.g. Frankfort
State:

Successor Trustee

Who will manage your trust if your trustees become incapacitated?
Successor Trustee
First Successor Trustee
Full Name:

e.g. William Timothy Smith
City/Town:

e.g. Frankfort
State:
Second Successor Trustee
- Add another trustee
Second Successor Trustee
Full Name:

e.g. William Timothy Smith
City/Town:

e.g. Frankfort
State:

Beneficiary

Do you want your spouse to inherit the assets in your trust?
do you beneficiary
- Yes
- No

Division of Assets

How do you want to divide your assets between your beneficiaries?
Equally
- Equally
- Unequally

Shares

How would you like to divide your assets? The number of shares must add to 100.
First Shares :
e.g. 33,10
Second Shares :
e.g. 33,10
Third Shares :
e.g. 33,10
Fourth Shares :
e.g. 33,10
Fifth Shares :
e.g. 33,10
Sixth Shares :
e.g. 33,10
Seventh Shares :
e.g. 33,10
Eighth Shares :
e.g. 33,10
Nineth Shares :
e.g. 33,10
Tenth Shares :
e.g. 33,10
Eleventh Shares :
e.g. 33,10
Twelfth Shares :
e.g. 33,10
Total :
The total for all beneficiaries must add up to 100.

Additional Terms

Do you want your final taxes and debts to be paid out of your Living Trust?
Addition_detail
- Yes
- No
Do you want your funeral costs and other final expenses to be paid out of your Living Trust?
Addition_detail
- Yes
- No
Do you want your minor beneficiaries to be a certain age before receiving anything from your Living Trust?
Minor_detail
- Yes
- No
Age :

Pour-Over Will

Do you want to create a Pour-Over Will now? The Pour-Over Will transfers missed assets into your trust upon your death.
Pour-Over Will1
- Yes
- No
Does the second grantor want to create a Pour-Over Will now? The Pour-Over Will transfers missed assets into your trust upon your death.
Pour-Over Will2
- Yes
- No

Executor

Do you want your Successor Trustee to administer the first grantor's estate?
executor
- Yes
- No
Who do you want to administer your estate?
Executor
First Executor
Full Name

e.g. William Timothy Smith
City/Town

e.g. Frankfort
State :
Add another executor
- Add another executor
Second Executor
Full Name

e.g. William Timothy Smith
City/Town

e.g. Frankfort
State :

Executor

Do you want your Successor Trustee to administer the second grantor's estate?
executor2
- Yes
- No
Who do you want to administer your estate?
Executor
First Executor
Full Name :

e.g. William Timothy Smith
City/Town

e.g. Frankfort
State :
Add another executor
- Add another executor
Second Executor
Full Name

e.g. William Timothy Smith
City/Town

e.g. Frankfort
State :

Signing Details

When will you sign your Living Trust?
Specify date
- Unsure
- Specify date
specify date input
MM slash DD slash YYYY
Where will you sign your documents?
Post Custom Field

e.g. Montgomery
State :
How many witnesses will sign this Living Trust?
witness_change_txt
- Notary public
- One witness and a notary public
- Two witness and a notary public

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What to Keep in Mind While Creating a Tennessee Revocable Living Trust Agreement

A living trust ensures your estate is managed and distributed correctly after death. You may think of writing a will, but a living trust will help your estate bypass the probate process, helping your family get the inheritance quickly and save money.

A revocable living trust agreement also offers flexibility, and you can modify it at any time to align it with your estate plan and wishes. Keep reading to learn more about making a living trust in Tennessee.

What is a Revocable Living Trust?

A living trust, also known as an 'inter vivos' trust, is an estate agreement you create while alive putting your assets in a trust and outlining how they will be distributed to the beneficiaries after death.

The agreement comprises assets, successor trustees, beneficiaries, and other information about how the estate will be managed and distributed. Ideally, aTennessee revocable living trust agreement can be modified or canceled by you (the grantor).

Do You Need a Revocable Living Trust in Tennessee?

Creating and signing a Tennessee revocable living trust form is essential to you and your beneficiaries. It ensures that your estate is distributed almost immediately after death, and your family saves time and money. The assets in the trust will bypass the probate, which is the ideal situation every family would want.

The probate issue is even more concerning in Tennessee since the state has not adopted the Uniform Probate Code. This means the probate process is not as streamlined as in other states. However, they have simplified processes your loved ones can use to get a share of their inheritance, even without a living trust.

For example, if your estate is valued at $50,000 or less, your estate should not go through probate. Your heirs can use an affidavit or request for a 'small estate administration' to get it quicker than the normal probate process.

Do You Still Need a Will after Creating a Living Trust in Tennessee?

Creating a living trust may not be enough to complete your estate plan. You will likely need a will in some situations. For instance, if you have not included all your assets in the trust, you will need the will to name them and outline how they will be distributed or managed after your death.

In addition, you will need a will to name the guardian of your minor children. But a will may not be necessary if you don't have minor children and have put all your assets in the trust.

Revocable Living Trust and Estate Taxes in Tennessee

Some people think creating a living trust in Tennessee can lower their estate taxes. But that is not true. Although Tennessee no longer collects estate taxes, people with estates valued at or more than $12 million pay federal estate taxes. But you can create a unique trust like the AB Trust to avoid or bring down your federal estate taxes.

Filling in a Revocable Living Trust Form

So, how do you create a Tennessee revocable living trust? It all starts by filling in the form correctly, and be sure to identify the assets you want to put in the trust and come up with a list of beneficiaries.

Then choose a successor trustee who will manage and oversee the disruption of the trust after your demise. Once you have the information, get a free sample form and fill it out with the data. Then sign it before a notary official and later fund the trust by transferring the assets to the trust.

Are you planning to create a revocable living trust in Tennessee and looking for the perfect place to start? If yes, Forms.legal got you covered. We offer easy-to-access free Tennessee revocable living trust forms. All you need is to fill in the form online, download and print it for signing.

Step 1 of 21

Location

Grantor

Spouse

Your Details

What is your name?

Second grantor Details

Who are you creating this trust with?

Spouse Details

Who is your spouse?

Trustee

Trustee Details

Who will be your trustee?

Trustee

First Trustee

Second Trustee

Successor Trustee

Who will manage your trust if your trustees become incapacitated?

Successor Trustee

First Successor Trustee

Second Successor Trustee

Assets

What assets do you plan to transfer into your Living Trust?

Asset

First Asset

Second Asset

Third Asset

Fourth Asset

Fifth Asset

Sixth Asset

Seventh Asset

Eighth Asset

Ninth Asset

Tenth Asset

Eleventh Asset

Twelfth Asset

Thirteenth Asset

Fourteenth Asset

Fifteenth Asset

Sixteenth Asset

Seventeenth Asset

Eighteenth Asset

Nineteenth Asset

Twentieth Asset

Gifts

Gift

Recipient

First Gift

Recipient

Second Gift

Recipient

Third Gift

Recipient

Fourth Gift

Recipient

Fifth Gift

Recipient

Sixth Gift

Recipient

Seventh Gift

Recipient

Eighth Gift

Recipient

Ninth Gift

Recipient

Tenth Gift

Recipient

Eleventh Gift

Recipient

Twelfth Gift

Recipient

Beneficiary

Do you want your spouse to inherit the assets in your trust?

Beneficiary Details

Who are your beneficiaries?

Beneficiary

First Beneficiary

Second Beneficiary

Third Beneficiary

Fourth Beneficiary