REVOCABLE LIVING TRUST AGREEMENT

(Commonwealth of Pennsylvania)

[// GUIDANCE: This template is drafted to comply with the Pennsylvania Uniform Trust Act (“PUTA”), 20 Pa. Cons. Stat. § 7701 et seq. Insert or delete provisions as warranted by client objectives, asset mix, and tax posture.]

TABLE OF CONTENTS

I. Document Header
II. Definitions
III. Operative Provisions
IV. Representations & Warranties
V. Covenants & Restrictions
VI. Default & Remedies
VII. Risk Allocation
VIII. Dispute Resolution
IX. General Provisions
X. Execution Block

I. DOCUMENT HEADER

1.1 Title
 REVOCABLE LIVING TRUST AGREEMENT (the “Agreement” or “Trust”).

1.2 Parties
 a. Settlor: [SETTLOR LEGAL NAME], residing at [ADDRESS] (“Settlor”).
 b. Initial Trustee: [TRUSTEE LEGAL NAME], residing at [ADDRESS] (“Trustee”).
 c. Beneficiaries: As defined herein.

1.3 Recitals
 WHEREAS, Settlor desires to establish a revocable trust under the laws of the Commonwealth of Pennsylvania for estate-planning, asset-management, and dispositive purposes; and
 WHEREAS, Trustee is willing to accept the trust and act in accordance with this Agreement;
 NOW, THEREFORE, in consideration of the mutual covenants herein, the parties agree as follows.

1.4 Effective Date
 This Agreement is effective as of [EFFECTIVE DATE] (the “Effective Date”).

1.5 Governing Law
 This Trust is created under, and shall be governed by, the Pennsylvania Uniform Trust Act, 20 Pa. Cons. Stat. § 7701 et seq., and other applicable Pennsylvania law (collectively, “State Trust Law”).

II. DEFINITIONS

For ease of reference, capitalized terms have the meanings set forth below. Terms defined in the singular include the plural and vice versa. Alphabetical order is used for convenience.

“Act” – The Pennsylvania Uniform Trust Act, 20 Pa. Cons. Stat. § 7701 et seq.
“Affiliate” – Any person or entity that directly or indirectly controls, is controlled by, or is under common control with another.
“Agreement” – This Revocable Living Trust Agreement, as amended.
“Asset Schedule” – The schedule of property transferred to the Trust, initially attached hereto as Schedule A, as amended from time to time.
“Beneficiary” – Any present or future beneficiary of the Trust, including contingent beneficiaries, as identified in Section III.
“Dispositive Event” – Settlor’s death or other event triggering distribution under Section III.7.
“Incapacity” – Settlor’s inability to manage property or business affairs, as determined under Section III.4.
“Trust” – The trust created by this Agreement, including any subdivisions.
“Trust Estate” – All property transferred to the Trust, together with all replacements, substitutions, additions, and proceeds.
“Trustee” – The person or entity serving as trustee, including any Successor Trustee.

[// GUIDANCE: Add defined terms for special assets (e.g., “S-Corp Shares,” “Digital Assets”) if applicable.]

III. OPERATIVE PROVISIONS

3.1 Creation and Funding
 a. Settlor hereby transfers, assigns, and delivers to Trustee the property described in Schedule A, receipt of which Trustee acknowledges.
 b. Additional property may be added by Settlor or any other person with Trustee’s consent.

3.2 Nature of Trust
 This Trust is revocable, non-testamentary, and shall be treated as a grantor trust for U.S. federal income-tax purposes unless and until properly modified.

3.3 Revocation and Amendment
 a. Settlor may revoke or amend this Agreement in whole or in part by a signed writing delivered to Trustee.
 b. Any amendment shall take effect upon Trustee’s receipt unless otherwise specified.
 c. Upon full revocation, Trustee shall promptly reconvey the Trust Estate to Settlor or Settlor’s designee and provide a final accounting.

3.4 Determination of Settlor’s Incapacity
 a. Incapacity shall be established by (i) written certification of two licensed physicians, or (ii) judicial determination by a court of competent jurisdiction.
 b. During Incapacity, Settlor’s powers under Sections 3.3 and 5.1 shall be exercisable only by an agent under a valid durable power of attorney expressly authorized to act.

3.5 Trustee Powers
 Trustee shall have all powers granted under the Act, in equity, and at common law, including but not limited to powers enumerated in Exhibit 1 (Trustee Administrative Powers), subject to any limitations herein.

3.6 Distributions During Settlor’s Lifetime
 a. To Settlor: Trustee shall pay or apply so much of the net income and principal of the Trust Estate as Settlor directs or as Trustee deems advisable for Settlor’s health, education, maintenance, or support (“HEMS”).
 b. To Others: Trustee may distribute income or principal for the benefit of Settlor’s spouse and descendants for HEMS if Settlor is incapacitated.

3.7 Distributions Upon Dispositive Event
 Upon Settlor’s death:
 a. Payment of expenses, debts, and taxes as provided in Section 5.3.
 b. Separate shares shall be established for Beneficiaries as designated in Schedule B (Dispositive Provisions).
 c. Contingent distributions occur if primary Beneficiaries predecease Settlor or disclaim.

3.8 Successor Trustee Rules
 a. Order of Succession: If the position of Trustee becomes vacant, the next-named Successor Trustee in Schedule C shall serve.
 b. Appointment by Beneficiaries or Court: If no named Successor Trustee is willing or able to serve, a majority-in-interest of the adult Beneficiaries may appoint a new Trustee; failing that, any interested party may petition the [COUNTY] Orphans’ Court Division.
 c. Acceptance & Bond: Acceptance occurs upon written consent and, if required by the Act or court, posting of bond. Bond is waived unless a court orders otherwise.
 d. Resignation & Removal: A Trustee may resign on thirty (30) days’ written notice to Settlor (if living) and Beneficiaries. Beneficiaries holding a majority interest may remove a Trustee for cause with thirty (30) days’ notice.

3.9 Asset Transfer Procedures
 a. Title to all Trust assets shall be held in the Trustee’s name in fiduciary capacity (e.g., “[TRUSTEE], as Trustee of the [SETTLOR] Revocable Living Trust dated [DATE]”).
 b. Real estate transfers shall be accomplished by recordable deed complying with 21 Pa. Cons. Stat. § 1 et seq.
 c. Motor vehicles shall be re-titled through PennDOT Form MV-4ST.
 d. Securities shall be re-registered via medallion signature guarantee or DTC transfer, as applicable.
 e. Digital assets shall be transferred pursuant to the Revised Uniform Fiduciary Access to Digital Assets Act (20 Pa. Cons. Stat. § 3901 et seq.).

3.10 Accounting
 Trustee shall provide annual written accountings to Settlor (or, after Settlor’s death, to adult Beneficiaries) within ninety (90) days after December 31 each year.

IV. REPRESENTATIONS & WARRANTIES

4.1 By Settlor
 a. Settlor has full legal capacity to create and fund the Trust.
 b. Assets transferred are free of undisclosed liens or encumbrances.
 c. No outstanding agreements conflict with this Trust.

4.2 By Trustee
 a. Trustee has the requisite capacity and is not disqualified under State Trust Law.
 b. Trustee shall administer the Trust in good faith, in accordance with its terms and the Act.

4.3 Survival
 All representations and warranties shall survive execution and remain in effect for the duration of the Trust.

V. COVENANTS & RESTRICTIONS

5.1 Settlor Covenants
 Settlor shall execute all documents reasonably required to transfer assets to the Trust.

5.2 Trustee Covenants
 a. Prudence: Invest and manage Trust assets as a prudent investor (§ 7203).
 b. Loyalty: Administer solely in the interests of Beneficiaries.
 c. Impartiality: Act impartially among Beneficiaries.
 d. Recordkeeping: Maintain accurate books and records.

5.3 Payment of Debts & Taxes
 Upon Settlor’s death, Trustee shall pay enforceable debts, funeral expenses, and estate taxes out of the Trust Estate, subject to reimbursement from non-probate assets as permitted by law.

VI. DEFAULT & REMEDIES

6.1 Events of Default
 a. Trustee’s willful misconduct or gross negligence.
 b. Failure to provide required accountings within the period stated in Section 3.10.
 c. Breach of fiduciary duty under the Act.

6.2 Notice & Cure
 Beneficiaries shall provide written notice specifying the default. Trustee shall have thirty (30) days to cure unless the breach is incapable of cure.

6.3 Remedies
 a. Removal of Trustee under Section 3.8.
 b. Surcharge against Trustee’s compensation.
 c. Injunctive relief to prevent waste of assets.
 d. Recovery of damages, including reasonable attorneys’ fees.

VII. RISK ALLOCATION

7.1 Trustee Indemnification
 To the fullest extent permitted by State Trust Law, Trustee shall be indemnified out of the Trust Estate against any claim, liability, or expense (including attorneys’ fees) arising from the proper administration of the Trust, except for acts of bad faith, willful misconduct, or gross negligence.

7.2 Limitation of Liability
 Trustee’s personal liability is limited to the Trust Estate. In no event shall Trustee be liable for consequential or punitive damages.

7.3 Insurance
 Trustee may, at Trust expense, procure fiduciary liability insurance in commercially reasonable amounts.

7.4 Force Majeure
 Trustee shall not be liable for delays or failures caused by events beyond reasonable control, including but not limited to natural disasters, war, cyberattacks, or changes in law.

VIII. DISPUTE RESOLUTION

8.1 Governing Law
 This Agreement shall be construed in accordance with State Trust Law, without regard to conflict-of-laws principles.

8.2 Forum Selection
 Exclusive venue for all judicial proceedings relating to this Trust shall be the Orphans’ Court Division of the Court of Common Pleas in [COUNTY], Pennsylvania (the “Probate Court”).

8.3 Optional Arbitration
 a. Election: Any party may elect binding arbitration for disputes not involving the Probate Court’s mandatory jurisdiction, by serving written notice within thirty (30) days after commencement of litigation.
 b. Rules: Arbitration shall proceed under the Pennsylvania Uniform Arbitration Act, 42 Pa. Cons. Stat. § 7301 et seq.
 c. Injunctive Relief: A party may seek provisional equitable relief from the Probate Court to preserve Trust assets pending arbitration.

8.4 Jury Waiver
 To the extent a matter is determined outside Probate Court, the parties knowingly waive any right to trial by jury. (No jury right exists in Probate Court.)

8.5 Attorneys’ Fees
 The prevailing party in any dispute shall recover reasonable attorneys’ fees and costs, as determined by the tribunal.

IX. GENERAL PROVISIONS

9.1 Amendment & Waiver
 Except as restricted herein, Settlor may amend this Agreement pursuant to Section 3.3. No waiver of any provision shall be deemed a waiver of any other or subsequent breach.

9.2 Assignment & Delegation
 Rights under this Agreement are non-assignable except by operation of law. Trustee may delegate investment functions consistent with § 7204, provided written notice is given to Beneficiaries.

9.3 Successors & Assigns
 This Agreement binds and benefits the parties and their respective heirs, successors, and assigns.

9.4 Severability
 If any provision is held invalid, the remaining provisions shall remain in full force, and a court may reform the Agreement to effectuate intent.

9.5 Integration
 This Agreement, together with all schedules and exhibits, constitutes the entire understanding regarding the Trust and supersedes all prior agreements.

9.6 Counterparts
 This Agreement may be executed in counterparts, each of which is deemed an original. Signature pages may be detached and combined into one document.

9.7 Electronic Signatures
 Signatures executed via electronic means (e.g., DocuSign) are deemed originals under 73 Pa. Cons. Stat. § 2260.303.

X. EXECUTION BLOCK

IN WITNESS WHEREOF, Settlor and Trustee have executed this Agreement as of the Effective Date.

[SETTLOR LEGAL NAME]

Settlor

[TRUSTEE LEGAL NAME]

Trustee

[// GUIDANCE: Notarization is strongly recommended to authenticate Settlor’s signature and streamline financial-institution acceptance.]

Commonwealth of Pennsylvania
County of ____

On this _ day of _, 20__, before me, the undersigned notary public, personally appeared ______, known to me or satisfactorily proven to be the person whose name is subscribed above, and acknowledged that the execution of the foregoing instrument was the free act and deed of such person for the purposes therein contained.

Notary Public
My Commission Expires: _____

SCHEDULE A

Asset Schedule
1. Cash – $[AMOUNT] at [BANK], Account No. [XXXX]
2. Real Property – [LEGAL DESCRIPTION]
3. Brokerage Account – [INSTITUTION], Account No. [XXXX]
4. Digital Assets – See attached Digital Asset Inventory

SCHEDULE B

Dispositive Provisions
1. Primary Beneficiary: [NAME] – [PERCENT]%
2. Contingent Beneficiary: [NAME] – [PERCENT]%
[Add tax-efficient subtrusts (e.g., Credit Shelter, QTIP) as needed.]

SCHEDULE C

Successor Trustees
1. [FIRST SUCCESSOR TRUSTEE NAME]
2. [SECOND SUCCESSOR TRUSTEE NAME]

EXHIBIT 1

Trustee Administrative Powers (Non-Exhaustive)
1. Investment authority per prudent investor rule (§ 7203).
2. Power to lease, sell, or mortgage real property.
3. Power to participate in mergers, reorganizations, or exchanges of securities.
4. Ability to employ professionals (attorneys, CPAs, investment advisers).
5. Right to compromise or litigate claims.
6. Power to distribute in cash or in-kind, pro rata or non-pro rata.

[// GUIDANCE: Customize powers for special assets (closely-held businesses, mineral interests, intellectual property) or tax strategies (e.g., 643(e) elections).]

[// GUIDANCE: Review federal and state tax implications, including Pennsylvania inheritance tax (72 Pa. Cons. Stat. § 9101 et seq.) and potential federal estate/gift issues. Coordinate with the client’s will (pour-over) and beneficiary designations to ensure integrated estate planning.]