Guide to the Illinois Revocable Living Trust

A Revocable Living Trust is a powerful estate planning tool that lets you manage and protect your assets—both during your lifetime and after your death—without going through probate court. In Illinois, this legal document is commonly used to simplify the transfer of property and maintain privacy.

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Illinois Will and Trust

📄 Download the Official Form

You can fill out and customize the official Illinois Revocable Living Trust form here:

👉 Download the Illinois Revocable Living Trust (fillable PDF)


What Is It?

A Revocable Living Trust is a legal agreement you create while you're alive that:

You can change or revoke the trust at any time—hence, "revocable."


When Should I Use It?

You should consider a revocable living trust if you:


What Does It Cover?

A revocable living trust allows you to:

It also outlines how and when your beneficiaries will receive their inheritance—either all at once, or in stages.


Key Roles in a Living Trust

Role

Description

Grantor

You – the person who creates the trust and funds it

Trustee

The person who manages the assets (often also you while you’re alive)

Successor Trustee

The person who takes over if you die or become incapacitated

Beneficiaries

The people who will receive your assets according to your wishes


Do I Need a Lawyer?

You do not need a lawyer to create a basic revocable living trust, especially if:

However, legal advice is strongly recommended if:


What Do I Do After I Fill It Out?

  1. Sign the trust in front of a notary public.

  2. Fund the trust by transferring assets into it (e.g., retitling your home or bank accounts in the name of the trust).

  3. Store it safely and give copies to your successor trustee and attorney, if applicable.

  4. Update your trust over time if your circumstances or wishes change.


Can I Change or Cancel It?

Yes. As long as you're alive and mentally competent, you can:

That flexibility is a key benefit of this type of trust.


Living Trust vs. a Will

Feature

Living Trust

Will

Goes through probate?

❌ No

✅ Yes

Public record?

❌ No

✅ Yes

When it takes effect

During your life & after death

After death only

Can name guardians for children

❌ No

✅ Yes

Easy to update?

✅ Yes

✅ Yes

Many people use both: a trust to manage assets, and a simple will to cover anything the trust doesn’t.

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