What Is a Revocable Living Trust?

 

A Revocable Living Trust is a legal document that allows you to manage, protect, and control your assets during your lifetime — and decide exactly how those assets are distributed after your death — all while avoiding probate.

It is one of the most flexible and powerful estate-planning tools for Nevada families.

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Definition

 

A Revocable Living Trust (RLT) is a written agreement you create during your lifetime that places your assets — such as your home, bank accounts, and investments — into a trust.

You remain fully in control because:

• You are the Grantor/Trustor

• You serve as your own Trustee while you’re alive

• You can amend, update, or revoke the trust at any time

You also appoint a Successor Trustee, who will manage your trust if you become incapacitated or after your passing.

What’s Included (Single or Joint Trust Package)

Core Estate Documents

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✔ Revocable Living Trust (individual or joint)
✔ Pour-Over Will(s)
✔ Durable Power of Attorney – Financial
✔ Advance Directive for Healthcare
✔ Living Will / End-of-Life Instructions
✔ HIPAA Authorization (included within the Directive)

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Supporting Trust Documents

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✔ Certificate / Abstract of Trust
✔ Schedule A – Trust Property List
✔ Trust Funding Instructions

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Digital Convenience

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✔ Secure Client Portal Access (review, upload, track progress)
✔ Remote Online Notarization (up to 2 signers)
✔ Digital copies delivered upon completion

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Client Support

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✔ One Complimentary Minor Amendment (within 30 days)

Key Benefits

1. Avoids Probate

Assets held in the trust transfer privately and efficiently — no court process.

2. Full Control During Your Lifetime

You manage your trust and can change it anytime.

3. Privacy Protection

Unlike a Will, a trust is not filed with the court.

4. Precise Distribution

You decide who receives what, when, and how — including optional staggered or conditional distributions.

5. Incapacity Management

Your Successor Trustee can immediately step in without court involvement.

6. Built-In Flexibility

You can modify beneficiaries, trustees, or instructions at any time.

7. Faster Estate Settlement

Your trustee can settle your estate privately and efficiently.

 

What a Revocable Living Trust Does NOT Do

❌ Avoid estate taxes (if applicable)
❌ Protect assets from creditors during your lifetime
❌ Self-fund — you must transfer assets into the trust for it to work

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Helpful Tips (Not Legal Advice)

 

1. Fund Your Trust

Transferring assets into the trust is essential.
DVN provides clear, simple funding instructions.

2. Choose a Responsible Successor Trustee

Select someone you trust to manage your estate or step in if you become incapacitated.

3. Review Every Few Years

Update your trust after major life changes such as marriage, divorce, birth of a child, or buying/selling property.

4. List All Important Assets

Include property, bank accounts, investments, and high-value personal property.

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Out-of-State Property Considerations

 

If you own property outside Nevada:

• A separate deed must be prepared for each property

• Use the correct deed type (varies by state)

• Record deeds in each property’s county

• Professional guidance is recommended for out-of-state transfers

 Is Notarization Required?

Yes.
Nevada requires notarization for your Revocable Living Trust.
All required notarizations are included with your DVN trust package — handled quickly and securely through Remote Online Notarization.