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Living Trust for Husband and Wife with One Child - Minnesota

Living Trust for Husband and Wife with One Child - Minnesota 2025

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The document is a Revocable Living Trust Agreement created by a Trustor in Minnesota, outlining the establishment and management of a trust. It details the roles of the Trustor, Trustee, and Beneficiaries, including provisions for asset management, trustee powers, distributions during the Trustor's lifetime and after death, and guidelines for handling incapacity. The agreement emphasizes the Trustor's rights to amend or revoke the trust and specifies how assets will be distributed among beneficiaries upon the Trustor's death.

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Click ‘Get Form’ to open it in the editor.
Begin by entering the date at the top of the document. This is crucial as it marks the official start of your trust.
In Article I, specify the name of your trust. This can be a personal choice, such as 'The [Your Family Name] Revocable Living Trust'.
Proceed to Article II where you will fill in the names of both Trustors (husband and wife) along with their address and details about your child.
In Article III, appoint a Trustee. You can designate one or both Trustors as Trustees and include Successor Trustees if needed.
Article IV requires you to list all assets that will be included in the trust. Attach an Exhibit A if necessary.
Review Articles V through XII for additional provisions regarding trustee powers, administration, and distributions after death.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Do you need a living trust if you only have one child?

Your estate plan is entirely your decision, and you are free to leave your assets to others, such as other family members, friends, or charitable organizations, should you choose. If you do wish to leave something to your child but are concerned about their ability to manage it, a trust can be an excellent solution.

Do you need a trust if you have only one child?

People with fewer assets, a modest estate, or just a relatively simple estate distribution plan most likely dont need a living trust, which, incidentally, generally has more upfront costs than writing a willand that may also be a consideration in deciding whether you need to include a living trust in your estate plan

How much does a living trust cost in Minnesota?

The cost of creating a living trust depends on whether you do it yourself or hire an attorney to help you. You can use software to put together one yourself for usually less than a couple of hundred dollars, and an attorney often costs more than $1,000.

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