Updated June 29, 2022
The Wisconsin revocable living trust form is a legal document drafted by an individual to allocate assets and property into a separate entity. The person who creates the Trust (Grantor) appoints a Trustee to manage its contents. The Grantor is allowed to appoint themselves Trustee as long as a Successor Trustee is named as well. The Grantor is allowed to make amendments and alterations to the Trust at any point during their lifetime. In the event that the Grantor becomes mentally incapacitated, the Trustee (or Successor Trustee) uses assets within the Trust to provide care for the Grantor. When the Grantor dies, the contents of the Trust are distributed to the Beneficiaries by the Trustee out of probate. Bypassing probate is one of the main benefits of both revocable and irrevocable living trusts. However, a revocable trust will not protect the Grantor’s assets from Federal and State estate taxes.
Laws – § 701.0401
How to Write
Step 1 – Download in Adobe PDF, Microsoft Word (.docx), or Open Text Document (.odt).
Step 2 – Provide the Grantor’s name at the top of the first page of the Trust document and enter the current date. Next, enter the names and addresses of the Grantor and Trustee. Go to Article 1 and enter the name of the trust and select the checkbox that applies to this Trust; either an amendment of a prior trust document or a new trust document.
Step 3 – Under Article 4, Section A, provide a list of the Grantor’s property and the corresponding individual/organization to whom it will be transferred after the Grantor dies.
Step 4 –Under Section B of Article 4, select the checkbox to establish who will receive all the Grantor’s personal property after death; either “The Beneficiaries” or “Specifically to…”. The second checkbox will also require the person’s name, address, and Social Security or Tax ID number.
Step 5 –The Grantor must establish a “Pet Caretaker” under Article 4, Section C. Enter the individual’s name and address. A second individuals name and address must be supplied in case the first Pet Caretaker cannot perform their duties.
Step 6 – Part (iii) of Section C, Article 4 pertains to the funds provided to the Pet Caretaker. Select the first checkbox and enter the amount in US dollars if funding is to be provided. If no funding is to be provided, select the second checkbox.
Step 7 – Part (iii) of Section C, Article 4 asks for the name and address of the person who will oversee the Pet Caretaker’s responsibilities; the “3rd Party Enforcer.”
Step 8 – Under Article 4, Section D, enter the names, Social Security numbers, and addresses of the named Beneficiaries who will receive all previously undistributed residuary property in the Trust.
Step 9 – Next, go to Article 10 and provide an amount of time in either “Months” or “Years.” This amount of time will limit the number of accounting requests a Beneficiary can make on the Trust’s assets and property.
Step 10 – The Grantor must appoint a Successor Trustee and 2nd Successor Trustee by providing their name and address under Article 13.
Step 11 –Section I of Article 13 demands that one of the boxes be selected to establish compensation for the Trustees.
Step 12 – Under Article 15, enter a number into the field provided. This number signifies the number of days a party must survive the Grantor before making a claim on the Trust.
Step 13 – Select one of the checkboxes under Article 17 to disclose the Grantor’s marital situation. If the second box was selected, the Spouse’s name must be entered in the field provided and one of the boxes below that must be selected.
Step 14 – Under Article 18, provide the names of all the Grantor’s children.
Step 15 – Under Article 21, enter the names of the individuals or organizations the Grantor wishes not to benefit from the Trust.
Step 16 – To allow the Grantor to make changes to their Trust, they must sign, print their name, and enter the date under Article 22. Signatures, names, and dates must also be provided by the Trustee and Successor Trustee.
Step 17 – The Self-Proving Affidavit form must be completed by providing the following:
- 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
Allow the notary public (if present) to complete the bottom portion of this page.
Step 18 – All assets and property transferred to the Trust can be listed on the last page of the document, “Attachment A.”
