A living trust is a plan in the form of an agreement that manages all the property you place into the trust while youre still living a common estate planning tool a living trust is created by the preparation and execution of a trust agreement a document that identifies the trusts owner the trustee the person who oversees the trust and lists the trusts provisions a living trust needs a name because the trust is the owner of all the assets placed into it the name allows the . Your living trust whats in a name wondering what you should name your living trust a friend asked me just this week if i create a revocable living trust for all my assets what do i call my trust it used to be the accepted practice that your family name should be a part of the name of your living trust so john black would have the john black living trust all assets held by the trust would be titled in that name. A revocable living trust is a trust document created by an individual that can be changed over time revocable living trusts are used to avoid probate and to protect the privacy of the trust owner. Lastname the firstname mi revocable living trust where mi is middle initial first1 first2 are first names of spouses a quick check of statutes 386 386a 386b do not show a required formula some types of businesses have a required name formula for trusts your lawyer should know if your state has a required formula for naming the trust
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