Illinois Revocable Living Trust Form

The Illinois revocable living trust is an entity into which a person places their assets to save the inheritors the long and costly probate process in Illinois. Aside from avoiding probate, the Grantor (person who establishes the Trust) has continued access to their assets if they become incapacitated in any way. Typically, without a revocable living trust, a conservator is appointed to manage a person’s estate once the estate owner is unable to do so. A Grantor usually appoints a trustworthy Trustee to manage their property and assets so they can rest easy knowing their estate is in good hands. Although this type of living trust does not diminish estate taxes or help protect the Grantor’s assets from creditors, it will allow a person’s estate to be handled in a private manner and can avoid probate in Illinois as well as any other state in which a person owns property. A revocable living trust can be amended or revoked at any time during the Grantor’s life.

Certification of Trust (760 ILCS 5/8.5) – Use instead of handing out a copy of the trust to persons that are not beneficiaries.

Laws – 760 ILCS 5/ (Trusts and Trustees)

How to Write

Step 1 – Download in Adobe PDF, Microsoft Word (.docx), or Open Document Text (.odt).

Step 2 – Start by filling out the first page of the living trust form with the following information:

  • Grantor’s name
  • Date
  • Grantor’s name (again)
  • Grantor’s address
  • Trustee’s name
  • Trustee’s address
  • Name of the trust and type of trust; amendment to previous trust or new trust (under Article 1)

Step 3 – This step and the following four (4) steps involve distribution instructions of Trust contents upon the Grantor’s death. Section A requires a list of property to be distributed after death along with the name(s) of the individual(s) or organization(s) to whom those items will be bequeathed.

Step 4 – Any personal property shall be bequeathed to the individuals mentioned in Section B of Article 4. Select either “The Beneficiaries” or the second checkbox to establish an inheritor. If the second checkbox was marked, the individual’s personal information must be entered.

Step 5 – Under Section C, provide the name and address of the person who will care for the Grantor’s pets after death. A second name and address should be provided in the event that the first appointed Pet Caretaker cannot fulfill their duties.

 

Step 6 – The Grantor may choose to provide funding for the Pet Caretaker. They may do so by establishing a dollar amount in the blank space next to the first checkbox under Part (ii) of Section C under Article 4. If the Grantor does not wish to provide funding, select the second checkbox.

Step 7 – To conclude the pet section of the living trust, provide the name and address of the person who will ensure the funding given to the Pet Caretaker is going solely towards the care of the Grantor’s pets. The fillable spaces are found under Part (iii) of Section C.

Step 8 – Section D of Article 4 requests the personal information of up to four (4) Beneficiaries who will receive any previously undistributed income or property within the Trust.

Step 9 – Proceed to the next blank spaces found on page 11, Article 10. A period of time must be established in order to limit the number of requests a Beneficiary can make for reports of property within the Trust.

Step 10 – The Grantor must appoint a Successor Trustee and 2nd Successor Trustee by entering their name and mailing addresses under Article 13.

Step 11 – Continue to Section I of Article 13 to establish what sort of compensation the Trustees shall receive. Either no compensation (first checkbox) or reasonable compensation (second checkbox).

Step 12 – Under Article 15, enter the number of days any individual or organization must survive after the death of the Grantor in order to claim anything from the Trust.

Step 13 – Provide the marital status of the Grantor at the time of the Trust’s creation under Article 17. If the Grantor is married, their spouse’s name must be entered into the blank field.

Step 14 – Under Article 18, enter the names of all the Grantor’s children. This can be left blank if the Grantor has no offspring at the time of the Trust’s creation.

Step 15 – To specifically exclude any unwanted parties from the Trust, the names of these individuals or organizations can be entered into Article 21.

Step 16 – Next, the Grantor, Trustee, and Successor Trustee must include their signatures, their printed names, and the date to give the Grantor authorization to amend the Trust at any point during their lifetime.

Step 17 – The second to last page of the living trust form must be completed in front of a notary public. The following information must be provided on this page:

  • State
  • County
  • Grantor’s signature and the date
  • Trustee’s signature and the date
  • Successor Trustee’s signature and the date
  • 2nd Successor Trustee’s signature and the date
  • Two witness signatures and the dates

The notary public will complete the rest of the affidavit.

Step 18 – The last page, “Attachment A,” should include a list of all property and assets to be included in the Trust.