Kentucky Revocable Living Trust Form

The Kentucky revocable living trust is a legal form used to hold assets and prevent probate when distributing those assets to Beneficiaries after the Grantor (creator) dies. Bypassing probate means avoiding a lengthy court process often accompanied by large legal fees. Furthermore, the contents of a living trust are not made public record after the Grantor’s death, another benefit which is not attributed to a Last Will and Testament. During the Grantor’s life, the Trustee maintains control over the assets and will continue to remain in charge once the Grantor becomes mentally incapacitated. If the Grantor has appointed themselves Trustee, the Successor Trustee will take over the Trustee’s responsibilities. These responsibilities include the distribution of the Trust’s assets to the Beneficiaries as per the Grantor’s instructions. A revocable trust does not minimize estate taxes or protect the contents of the Trust from creditors and lawsuits.

Laws – KRS Chapter 386B.6 (Revocable Trusts)

How to Write

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

Step 2 – Enter the name of the person establishing the Trust at the top of the page and include the date below that. Next, enter the name and address of the Grantor and the name and address of the Trustee. Go to Article 1 and create a name for the Trust and provide the type of trust; either amended or new.

Step 3 – Locate Section A of Article 4 and enter the property that is to be distributed upon the Grantor’s death. Beside each piece of property, enter the name of the individual or organization who will be inheriting it.

Step 4 – Next, Section B of Article 4 asks that the Grantor choose either the named Beneficiaries or a specific individual to receive their personal property after death. If the second checkbox was selected, the individual’s personal information must be supplied.

Step 5 – Under Article 4, Section C, enter the name of the person who will be taking care of the Grantor’s pets once they die. A second person should be included in this section in case the first Pet Caretaker cannot fulfill the caretaking obligations.

Step 6 – Still under Section C of Article 4 is Part (ii), wherein the Grantor must decide if funding is to be provided for the care of their pets. Select the first checkbox and enter the dollar amount if funding is to be provided. Select the second checkbox if no funding is to be provided.

Step 7 – Continue to Part (iii) of Article C, Section 4. To ensure the funding is used in an appropriate manner, enter the name and address of the person who will oversee the Pet Caretaker’s expenditures.

Step 8 – To provide instruction for the Trustee as to who will receive the Grantor’s residuary property, the list of Beneficiaries under Section D of Article 4 should be filled in.

Step 9 – Under Article 10, the number of accounting requests made by Beneficiaries can be limited. Enter the desired number of either months or years in the space provided.

Step 10 – The Grantor must appoint a Successor Trustee and 2nd Successor Trustee under Article 13. Both their names and addresses are to be provided.

Step 11 – Compensation may be awarded to the Trustees at the Grantor’s behest. Select one of the compensation options under Article 13, Section I.

Step 12 – Proceed to Article 15 and enter a number into the space provided. This will determine how long a person must survive after the Grantor’s death before they can benefit from the Trust.

Step 13 – If the Grantor is married at the time of the Trust’s creation, select the second checkbox under Article 17 and provide the spouse’s name. If they are not married, select checkbox number one.

Step 14 – Any children of the Grantor should be named in the empty field found under Article 18.

Step 15 – Any individuals or organizations the Grantor wishes to purposefully exclude from the Trust should be mentioned in Article 21, “Exclusion.”

Step 16 – Under Article 22, the Grantor, Trustee, and Successor Trustee must include their signature, printed name, and the date in the appropriate fields. This will grant revoking power to the Grantor.

Step 17 – The Self-Proving Affidavit form must be filled out in the presence of a notary public, who will sign and seal the bottom of the page. The Grantor, Trustee, Successor Trustee, 2nd Successor Trustee, and two (2) witnesses must sign and date the affidavit.

Step 18 – The last page of the Kentucky Living Trust form, labeled “Attachment A,” should include a list of all assets transferred into the Trust.