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Testamentary Estate Trust Qualifying for Marital Exemption
Introduction. I, [name of testator], a resident of and domiciled in
[city, county, state], make, publish, and declare this to be my Last
Will and Testament, hereby revoking all former wills made by me.
1. Direction to Pay Debts. I direct my Executor to pay my
just debts and funeral expenses as soon after my Executor's appointment
2. Bequest to Estate Trust. If my Spouse [name] shall
survive me, I give, devise, and bequeath to my Trustee hereinafter
named, in trust, the residue of my property of whatsoever nature and
wheresoever situated to invest and reinvest the same, to collect the
income thereof, and to pay the net annual income to, or apply the same
for, the benefit of my Spouse. In addition, my Trustee is authorized to
pay to my Spouse, or apply for my Spouse's benefit, such amount or
amounts of the principal of this trust, including the entire amount
thereof, at any time that my Trustee, in my Trustee's sole and absolute
discretion deems it advisable for my Spouse's maintenance, support,
comfort, or welfare. Neither my Trustee nor my Spouse may invade the
principal of this Trust during my Spouse's life for the benefit of any
person other than my Spouse. Upon my Spouse's death, I direct that the
entire principal of this Trust together with all income accrued thereon
be paid to the executor or executrix of my Spouse's estate or, if my
Spouse should die intestate, to the administrator or administratrix of
my Spouse's estate.
3. Bequests If Spouse Dies Before Testator. If my Spouse
shall predecease me, then I give, devise, and bequeath all of my
property, of whatever nature and wheresoever situated as follows:
4. Executor and Trustee-Appointment, Powers, and Elections.
a. Appointment of Executor and Trustee. I nominate and
appoint [name], whose principal office is located at [address], to
be Executor and Trustee of this Will. I direct that my Executor and
Trustee not be required to post any bond or other undertaking for the
faithful discharge of Executor and Trustee's duties in any jurisdiction.
I direct that my Executor's and Trustee's compensation be fixed by the
laws of [state].
b. Executor and Trustee's Powers. In addition to the powers
conferred upon them by the laws of [state], I grant to my Executor and
Trustee the following powers:
i. Borrow money. Borrow money from any source.
ii. Transfer or pledge assets. Sell, lease,
transfer, mortgage, pledge, or encumber all or
any part of the assets of the Trust upon such
terms as my Executor and Trustee deems prudent.
iii. Unlimited right of investment. Invest or
reinvest any part of the Trust as my Executor
and Trustee deems sound without being limited
by the provisions of any statutes, laws, or
decisions of any court of [state].
iv. Retain assets. Retain any assets owned by
Testator at the time of Testator's death and
bequeathed or devised to the Trust as long as
such retention is deemed advisable. No sale of
any of such assets need be made solely for the
purpose of diversifying the Trust's assets.
v. Oil and gas Investments. Buy, exchange, or
deal in oil, gas, or mineral leases or other
investments and release or surrender the same
in whole or in part.
vi. Use nominees. Register securities in the name
of nominees or nominee corporations, including
that of my Executor and Trustee.
vii. Partition property. Partition assets when a
distribution is made in cash or kind, or partly
in cash and partly in kind. My Executor and
Trustee's judgment concerning the propriety of
a partition and the relative values of the
property partitioned shall be binding and
conclusive on all persons interested in the
Trust as long as my Executor and Trustee acts
in good faith.
IN WITNESS WHEREOF, I have set my hand and seal this [date].
. . . . . . LS
*** If Required By State Law ***
This Section for Notary:
STATE OF -------)
) ss: [date]
COUNTY OF ------)
On [Date] before me, [Name of Notary], notary, personally appeared [Name of Person(s) Involved], personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
Witness my hand and official seal.
[Name of Notary Public]
My commission expires: [date]