This is a legal document that determines how a married couple's property is to be
managed and distributed during their lifetime and also upon death. This particular trust
is created by a married couple in a community property state. This trust is revocable
and designates the spouse that survives longer as the beneficiary in order to avoid
estate and gift taxes, but this agreement can easily be customized to provide for
different beneficiaries. This document can be used by married couples in community
property states that want to designate each other as beneficiaries for distribution upon
the death of one spouse.
INTER-VIVOS REVOCABLE TRUST
THIS INTER-VIVOS REVOCABLE TRUST (this “Instrument”) is made this ____ day of
_________, _____, by ________________ [Comment: INSERT FIRST SPOUSE’S
NAME] and _______________ [Comment: INSERT SECOND SPOUSE’S NAME] of
County of ___________________, State of ___________________, as Settlors, and by
________________ [Comment: INSERT FIRST SPOUSE’S NAME] and
_______________ [Comment: INSERT SECOND SPOUSE’S NAME], as Trustees
(collectively referred to as the “Trustee”).
WHEREAS, Settlors, also referred to as husband and wife, are currently married;
WHEREAS, Settlors have ____ (__) children, referred to herein in as “child” or “children,” all
of them adults, namely: (1) _______________, who resides at ___________________ in the of
County of ___________________, State of ___________________; (2) ___________________,
who resides at ________________ in the County of ___________________, State of
___________________; and (3) ___________________, who resides at ________________ in
the County of ___________________, State of ___________________;
WHEREAS, Settlors declare that they have transferred to the Trustee the property described in
Schedule “A” attached to this Instrument.
WHEREAS, the Trustee hereby agrees to hold such property and any other property included in
the trust estate, in trust, on the terms and conditions set forth herein.
WHEREAS, the Settlors wish, by this Instrument, to create an inter-vivos revocable trust in
accordance with the laws of the State of ___________________ whereby their community
property and their separate property will be held in trust and managed for their benefit during
their respective lives and distributed to their beneficiaries upon their death;
I TRUST ESTATE.
1. Trust Estate
All property subject to this Instrument is referred to as the “trust estate” and shall be held,
administered, and distributed according terms and conditions set forth in this Instrument.
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2. Trust Property
A. The trust estate consists of the property (plus the proceeds and undistributed income
of such property) listed in Schedule “A” and hereafter transferred to the trust by the
Settlors or their Wills, as insurance proceeds or pension benefits, or from any other
person or source.
B. The Settlors’ community property, listed in Schedule “A” or subsequently transferred
to the trust estate, is called the “community estate” and shall remain the community
property of the Settlors during their joint lifetimes.
C. Either Settlor’s separate property, now transferred or subsequently added to the trust
estate, is called and shall remain such Settlor’s separate estate.
D. Unless otherwise specified at the time of an addition, it is hereby agreed by the
Settlors that any quasi-community property transferred to the trust estate by a Settlor
shall thereby become community property and shall be included in the community
E. Unless changed or transmutated by separate written agreement entered into on the
same date or after the date of this Trust Agreement, the assets of the trust estate shall
retain their original character as separate, quasi-community or community property of
the Settlors, and shall be accordingly designated.
II INCOME AND PRINCIPAL DISTRIBUTIONS DURING LIFE
1. Community Property
A. During the joint lifetimes of Settlors (except as provided herein below), the Trustee
shall pay to husband or wife for the account of the community, or shall apply for the
Settlors’ benefit, all of the net income of the community estate in _____________
[quarterly] or more frequent installments.
B. The Trustee shall pay to the Settlors for the account of the community, or apply for
the benefit of the Settlors, as much of the principal of the community estate as a
Settlor directs or as is necessary in the Trustee’s discretion for the Settlors’ proper