Virginia Living Trust Trust Forms
Download a Virginia Living Trust form as a way to plan for the distribution of your assets and property to your beneficiaries. A grantor, the person who creates the trust, chooses assets and property to place in his or her trust and then specifies in the trust, how, when, to whom, and for what purposes the funds will be disseminated. The trust is flexible. The trust also provides continuity as it continues in existence even after the grantor passes away. A trust is private in that it is not filed with the court upon the grantor’s death, like a will. The grantor chooses a trustee to manage the trust in a fiduciary capacity for the benefit of the beneficiaries.
Revocable vs. Irrevocable: A revocable trust can be modified or terminated during the life of the grantor, but becomes irrevocable after his or her death. An irrevocable trust is not meant to be terminated or revoked.