Updated June 29, 2022
The Oregon revocable living trust is used as a primary means of distributing a person’s estate in order to avoid the probate process. Any property not placed in the trust will still be subject to probate when the Grantor’s estate is distributed. The other advantages of creating a revocable living trust instead of putting all your assets into a Will are that the information regarding the distribution of assets is kept private and that the Grantor will be properly cared for through the Trust in the event that they become incapacitated. Furthermore, with a revocable living trust, the Grantor continues to benefit from and enjoy their assets, and can revoke or amend the Trust during their lifetime.
Definition – ORS 130.010(16)
How to Write
Step 1 – Download in Adobe PDF, Microsoft Word (.docx), or Open Text Document (.odt).
Step 2 – Supply the following information into the indicated fields of the first page of the Living Trust document:
- Grantor’s name
- Date
- Grantor’s name
- Grantor’s mailing address
- Trustee’s name
- Trustee’s mailing address
Step 3 – Below that, enter the “Name of the Trust” and indicate whether this “is” or “is not” an amendment to an existing Trust.
Step 4 – Under Section A, list any specific property which is to be distributed to individual recipients and provide each recipient’s name.
Step 5 – Next, indicate whether the Grantor’s personal property will go to the Beneficiaries or to one individual. If the second option is selected, supply the recipient’s personal information into the indicated spaces.
Step 6 – In Section C, provide the personal information of the assigned Pet Caretaker and Alternate Pet Caretaker (if applicable).
Step 7 – Select the appropriate checkbox to indicate whether the Pet Caretaker will receive funding, and if so, how much funding will be allotted from the Living Trust and for how long pet care must be provided.
Step 8 – Under Subsection iii, supply the personal information of the person assigned to monitor the caretaking of the Grantor’s pet(s).
Step 9 – Next, beneath Section D, provide the personal information for up to four (4) assigned Beneficiaries.
Step 10 – In Article 10, supply the duration time after the Trust’s creation that Beneficiaries must wait before being permitted to request an accounting of it.
Step 11 – Beneath Article 13, Section A, enter the personal information for the assigned Successor Trustee and 2nd Successor Trustee.
Step 12 – Under Section I, it must be indicated whether or not the Trustee will receive financial compensation for their services.
Step 13 – Provide the number of days which Beneficiaries must wait after the Grantor’s death before claiming their share of the Living Trust in Article 15.
Step 14 – In Article 17, indicate whether or not the Grantor is married and, if applicable, provide their spouse’s name.
Next, indicate whether the Grantor’s estate or that of their spouse will benefit from the other’s estate if, by chance, neither party can be determined to have died first.
Step 15 – In the next section, enter the names of any children that the Grantor has into the indicated space.
Step 16 – Under Article 21, identify any individual or organization which is to be excluded from the Living Trust.
Step 17 – Next, in Article 22, the following signatures must be provided along with their printed names and the date of signing:
- Grantor’s signature
- Trustee’s signature
- Successor Trustee’s signature
Step 18 – In order to complete the “Self-Proving Affidavit,” the following must be provided:
- State
- County
- Grantor’s signature plus the date
- Trustee’s signature plus the date
- Successor Trustee’s signature plus the date
- 2nd Successor Trustee’s signature plus the date
- Witness signature plus the date
- 2nd Witness signature plus the date
Step 19 – Although it is optional to have a Living Trust notarized, it is generally recommended. A Notary Public can notarize a Living Trust by completing the “Notary Acknowledgement” section.
Step 20 – To complete the form, supply a list of all of the property and assets which the Grantor is putting into their Living Trust.
