Return to Trusts and Estates Page
I, Law Student, a resident of and domiciled in _____________ , do hereby make, publish and declare this as and for my Last Will, hereby revoking all wills and codicils previously made by me.
ONE: A. Disposition of Tangible Property: I give all of my jewelry, wearing apparel and personal effects, furniture, furnishings, books, pictures and other objects of art, silver, china, glassware, linens and other household effects, automobiles and other vehicles, and all other similar tangible personal property, of whatsoever description and wheresoever situate, and all insurance policies relating thereto, to ________________, or if ____________ shall not survive me, such property shall be distributed by my Personal Representative among such persons as I shall specify in a written memorandum signed and dated by me, as the same may be in existence at the time of my death, or if there shall be no such memorandum, such property shall be distributed in equal shares to such of my children who shall survive me, to be divided among them as they shall agree, or if only one of them shall survive me, all thereof to such survivor.
B. Bequest of Real Property: I give all of the real property that I may own at the time of my death, including all improvements, fixtures, and appurtenant thereon, and all insurance policies relating thereto, to _________________ , if ______ shall survive me.
C. Intent Not to Exercise Power of Appointment: I do not intend to exercise and I hereby expressly refrain from exercising any powers of appointment that I may have at the time of my death.
TWO: Residuary Clause: All the rest, residue and remainder of my estate, real, personal, and mixed, of whatsoever description and wheresoever situate, of which I shall die seized or possessed or to which I shall be in anywise entitled at the time of my death, including any legacies that may lapse or be invalid or for any other reason shall fail to take effect, after the payment of all debts, expenses, charges and taxes on my estate, (hereinafter referred to as my "residuary estate"), shall be disposed of as follows:
A. Gift if I Have No Spouse or Issue: If, at the time of my death I am neither married nor have any surviving issue, I give my entire residuary estate to ___________________.
B. Gift if I Have Spouse or Issue:
1. Gift To Spouse: If I am married at the time of my death, I give my entire residuary estate to my spouse, _________, if ___ shall survive me.
2. Gift to Issue: If I am unmarried at the time of my death but I have issue at the time of my death, I give my entire residuary estate in equal shares per stirpes to such of my issue who shall survive me, provided, however, that if any of the issue who shall survive me shall be a child of mine under the age of ___ at the time of my death, my residuary estate shall not be distributed outright to my issue but instead shall be held by my Trustee, hereinafter named, in trust and the income and principal thereof shall be disposed of as follows:
1. Payout of Income or Principal for Support, etc: So much or all of the income and principal of the trust as the Trustee deems advisable shall be paid to, or applied toward the benefit of, any one or more or all of my issue living during the term of this trust to provide for their support, maintenance, health and education. Any amounts of income or principal paid to, or applied towards the benefit of, the Beneficiary shall be paid or applied annually or more often in the Fiduciary's discretion. Any amounts of income not paid to, or applied towards the benefit of, my issue during any calendar year of the trust shall be accumulated and added to principal, and all such capitalized income shall thereafter be disposed of as part of the principal of the trust.
2. Termination of Trust When Youngest Child Attains Age __: This trust shall terminate when the youngest child of mine living at the time of my death shall attain the age of ___, and, upon such termination, the principal of the trust, at that time remaining, together with all accrued and undistributed income, shall be distributed in equal shares per stirpes to such of my issue as shall then be living discharged of any trust.
3. Termination due to Size of Trust: If the market value of the trust principal is $_________ or less on January 1 of any calendar year beginning immediately after my death and in any calendar year thereafter but prior to the time the youngest child of mine living at the time of my death attains the age of _____, the Fiduciary shall terminate this trust and distribute the trust principal then remaining in equal shares per stirpes to such of my issue as shall then be living discharged of any trust.
THREE: A. Appointment of Personal Representative: I nominate _________ as the Personal Representative hereunder. If ________ shall not survive me, or if for any other reason ____ shall fail to qualify as Personal Representative hereunder, or, having qualified as such, if ______ shall cease for any reason to act as Personal Representative, I nominate _____, as Personal Representative in ____ place and stead.
B. Appointment of Trustees of Disclaimer Trust: I nominate ______ as Trustee of the trust created hereunder.
C. Right to Appoint Other Fiduciaries: The individual Fiduciary of my estate or of any trust created hereunder, at any time in office, is authorized, in the Fiduciary's absolute discretion, at any time and from time to time, by an instrument in writing, signed and acknowledged, to appoint additional or successor Fiduciaries of my estate or trust, as the case may be, either individual or corporate, to act in addition or in succession to the Fiduciary designated herein or pursuant to the power herein granted, provided, however, that in no event shall there be more than two Fiduciaries, including one corporate Fiduciary, of my estate or trust, as the case may be, in office at the same time.
D. Formalities of Appointment: Any instrument appointing additional or successor Fiduciaries shall be revocable by the individual Fiduciary at the time being in office, whether or not such Fiduciary shall be the Fiduciary signing such instrument, at any time prior to the assumption of duties of Fiduciary by the appointee. In the event the Fiduciary shall have executed more than one instrument appointing additional or successor Fiduciaries, the instrument that shall bear the most recent date and shall be unprovoked shall govern.
E. Power to Delegate: I authorize any individual Fiduciary of my estate or of any trust created hereunder to delegate any right, power, duty, authority or discretion such Fiduciary may have to any other Fiduciary of my estate or the trust, as the case may be, by an instrument in writing, signed and acknowledged and delivered to such other Fiduciary and for such period or periods of time as such Fiduciary may designate in such written instrument. Any such delegation shall be revocable at any time by the Fiduciary signing such instrument of delegation. Notwithstanding the foregoing, no Fiduciary shall delegate to any other Fiduciary hereunder any right, power, duty, authority, or discretion which such other Fiduciary can not exercise hereunder.
F. Right to Resign: Any individual Fiduciary of my estate or of any trust created hereunder may at any time resign by an instrument in writing, signed and acknowledged and delivered to the remaining co-Fiduciary of the estate or trust, as the case may be, or, if none, to the next successor Fiduciary.
G. Appointment of Guardians and Conservators: I nominate and appoint my spouse, SPOUSE, as Guardian of the person of, and the Conservator of the property belonging to, such of our children as shall be minors at the time of my death. If my spouse shall not survive me, or shall fail for any other reason to qualify as Guardian or Conservator, or, having qualified, shall cease for any reason to act as a Guardian or Conservator, I nominate and appoint RELATIVE as such Guardian or Conservator.
H. Powers of Guardians and Conservatorship authorize any Guardian or Conservator from time to time acting to exercise with respect to the property held by such Guardian or Conservator all of the powers and authority conferred upon my Fiduciary by the provisions of Article FIVE of this Will.
I. No Bond Required: No bond or other security shall be required of any Fiduciary, Guardian or Conservator designated herein or pursuant to the power herein granted for the faithful performance of his, her or its duties. No person shall qualify as a Guardian or Conservator unless he or she shall agree to serve without a fee.
J. Meaning of Personal Representative, Trustee, Fiduciary, Guardian and Conservator: The terms "Personal Representative" or "Personal Representatives" wherever used in this Will shall be taken to mean the personal representative or executor of my estate for the time being in office, the terms "Trustee" or "Trustees" shall be taken to mean the trustee or trustees for the time being in office of any trust with respect to which they have been designated to act as a trustee, the term "Fiduciary" or Fiduciaries" shall be taken to mean the person or persons serving as either Personal Representative or Personal Representatives of my estate, or as the Trustee or Trustees of any trust created hereunder, as contextually appropriate, the term "Guardian" wherever used in this Will shall be taken to mean any guardian for the time being in office, and the term "Conservator" wherever used in this Will shall be taken to mean any conservator for the time being in office, and each such Personal Representative, Trustee, Fiduciary, Guardian, and Conservator shall have the same rights, powers, duties, authority, and privileges, whether or not discretionary, as if originally appointed hereunder, except as may otherwise be expressly provided herein to the contrary. When any such term is preceded by the word "individual," then such word shall be deemed to refer to a Personal Representative, Trustee or Fiduciary who is not a bank or trust company.
If a beneficiary of my estate or of any trust created hereunder shall be acting as a Fiduciary hereunder, such beneficiary shall not exercise, or participate in the exercise, of any discretionary power granted to my Fiduciaries to distribute the income or principal of my estate or of such trust, as the case may be, to such beneficiary, directly or indirectly, unless otherwise expressly provided to the contrary herein.
Remaining boilerplate omitted.