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Click ‘Get Form’ to open the trust single document in the editor.
Begin by entering the date at the top of the form where indicated. This is essential for establishing the effective date of the trust.
In Article I, fill in the name of your trust. This will be how it is referred to in all legal documents.
Proceed to Article II and provide your personal information as Trustor, including your name and address. List your children as beneficiaries under this section.
In Article III, appoint yourself as Trustee and designate any Successor Trustees if necessary. Ensure that you clearly indicate their names.
Complete Article IV by listing all assets that will be included in the trust on Schedule A. This may include cash, property, or other valuables.
Review all sections for accuracy before saving or exporting your completed document for signing.

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What is the best trust for a single person?

Revocable Living Trust This can be very beneficial for single people who hope to marry or have children one day, as it allows them the flexibility to include that future spouse and children. This type of trust becomes irrevocable upon the grantors death.

What are the three types of trusts?

A Simple Trust is a trust which makes no distributions other than current income. The trust terms require all its income to be distributed currently and do not provide for charitable contributions. A Complex Trust is a trust that permits accumulation of income, charitable deductions. or distribution of principal.

What is the purpose of a simple trust?

Making the Right Choice Two Versus One Trust If each spouse has distinct assets or complex estate plans, separate trusts might be the better option. On the other hand, if a couples financial life is highly integrated, a joint trust could provide simplicity and ease of management.

What is a single trust?

Trusts can be both single and joint. A single living trust involves just one individual, while a joint living trust usually involves a married couple. Joint living trusts are commonly used to transfer assets between spouses upon one spouses death.