Home > Services > Trust and Estate Planning > Revocable Living Trusts > Single Person Revocable Living Trust

Single Person Revocable Living Trust

Designed primarily for a single person to avoid probate

The Single Person Basic RLT is a Sole-Grantor Revocable Living Trust designed primarily for a single person to avoid probate and to control the management/disposition of assets after death.  When established and fully funded this trust will be under the complete, unhindered control of the grantor.  Under normal circumstances, it will allow the trustee to distribute assets directly from the trust to the grantor's heirs, valid debtors, and/or charities immediately at death without any court intervention.

This format can also be used for a married person but only when one (or both) of two conditions apply: (i) the married grantor prefers to set up an Individual Trust with a small or modest estate; and/or (ii) the married grantor wants to benefit his/her spouse (in the event that his/her spouse survives the grantor) with the trust estate but not utilize the Qualified Terminable Interest Property (QTIP) marital deduction provisions allowed under IRC Section 2056 (see Product #2 for a definition of the QTIP provision).

This fully funded trust (as any funded trust) will generally also avoid the necessity of a conservatorship proceeding in the event of the grantor’s incapacity (as well as avoiding probate of the trust estate at death).  Avoiding conservatorship with a fully funding living trust is usually much preferable to using a Durable Power of Attorney to accomplish the same.

A single person's estate (including that of a grantor of a revocable trust) may transfer up to the maximum available exemption equivalent amount in the year of death to family members or others without incurring federal estate tax.  There is no estate tax avoidance format in this trust – other than the decedent’s exemption equivalent amount in the year of death – as there is no marital deduction available for a non-married individual.  However, any immediate distributions to a qualified charity from this trust format will receive a dollar for dollar (unlimited) charitable deduction on behalf of the decedent’s estate.

Recommended Products

Single Person Revocable Trust $1995
This is for a single person who wants an estate plan to avoid probate.

Medicaid Qualifying Trust $750
This is an add on provision. The Medicaid Qualifying Trust is an income-only, non-discretionary "subtrust" of a Revocable Living Trust. It must be funded on a timely basis during the trust grantor's lifetime to be effective.

Need Assistance with Single Person Revocable Living Trust?

 

Talk Now with a Certified Live Advisor Call Toll Free (888) 435-6030 OR (212) 671-1188

 

...Or simply fill out the FREE form below and an Advisor will contact you immediately

 

First Name:	Last Name:	Occupation:
		Choose occupation... Accounting Aerospace/Defense Agriculture/Mining Architecture/Design Arts/Entertainment Automotive Computers/Software/Technology Construction Consulting Education/Schools/Academia Energy/Utilities/Fuel/Chemicals Engineering Finance/Banking/Brokerage Government/Diplomatic services Health Care/Hospitals Homemaker Import/Export/Trade Information Management/Library Insurance Legal Manufacturing Marketing/Advertising/Communications/PR Media/Publishing/Broadcasting Military Non-profit/Associations Pharmaceuticals/Biotech Real Estate/Property Management Recruiting/Staffing/Human Resources Religious Institutions Research & Development/Research Retail Retired Social Services Student Telecommunications Transportation/Logistics Travel/Hospitality/Service Wholesale Other
Phone #:	Email: