Updated August 02, 2023
The Rhode Island revocable living trust is the most common type of living trust used in this state. Its main advantage is that it makes it so that when a decedent’s estate is distributed, there will be no probate of any assets and property that are held within the trust. A revocable living trust differs from an irrevocable living trust in that, during their lifetime, the Grantor will continue to benefit from their assets. They also have the right to revoke or alter their trust. Additional benefits of a revocable living trust are that it ensures that the Grantor will be properly cared for if they are incapacitated and that the estate distribution will not be made public knowledge.
Laws – Chapter 18-4 (Powers of Fiduciaries)
How to Write
Step 1 – Download in PDF, Microsoft Word (.docx), or Open Text Document (.odt).
Step 2 – Begin filling out the Living Trust document by providing the following information:
- Grantor’s name
- Date
- Grantor’s name
- Grantor’s mailing address
- Trustee’s name
- Trustee’s mailing address
Step 3 – Next, provide the name of the trust and indicate whether or not this is for the amendment of an existing Trust.
Step 4 – Under Article 4, Section A, identify any specific property distributions and who the individual recipients are.
Step 5 – In Section B, select the appropriate box to indicate whether all personal property will be distributed to the Beneficiaries or to an individual. If the second option is selected, provide the person’s name, address, and SIN or TIN.
Step 6 – If the Grantor has pets, a Pet Caretaker and Alternate Pet Caretaker should be appointed in the Living Trust. Enter their names and addresses under Section C.
Step 7 – Indicate whether the Pet Caretaker will receive funding and, if so, the amount of funding and length of time that they must provide care.
Step 8 – Enter the name and address of the person appointed to monitor the Pet Trust as a 3rd Party Enforcer.
Step 9 – Next, under Section D, list the appointed Beneficiaries, providing their SSN/TIN for each and addresses.
Step 10 – Beneath Article 10 you are asked to enter how many months or years Beneficiaries must wait before they can have an accounting of the Living Trust.
Step 11 – In Article 13, you will need to provide the names and addresses of the appointed Successor Trustee and 2nd Successor Trustee.
Step 12 – Indicate whether or not the Trustee will be financially compensated for performing their duties (Section I).
Step 13 – In Article 15 you will need to enter the number of days that must pass from the date of the Grantor’s death before any claim may be made upon the Trust Estate.
Step 14 – Beneath Article 17, indicate the Grantor’s marriage status and, if they are married, supply their spouse’s name.
Next, indicate whose estate will benefit from the other’s in the event that both the Grantor and their spouse die at the same time.
Step 15 – In Article 18, provide the names of the Grantor’s children (if applicable).
Step 16 – Beneath Article 21, list the names of any individual that are excluded from the Trust.
Step 17 – In Article 22, the Grantor’s signature, the Trustee’s signature, and the Successor Trustee’s signature are required along with their printed names and the date.
Step 18 – Fill out the “Self-Proving Affidavit” with the following information and signatures:
- 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 – The “Notary Acknowledgement” must be filled out by a Notary Public.
Step 20 – Finally, in “Attachment A,” you must include a list which describes all of the various properties and assets which the Grantor is putting into the Trust.
