DIY Legal Forms

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Testamentary Marital Trust

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 as possible.

2. Bequest to Marital Trust. I give, devise, and bequeath all of my property, of whatever nature and wheresoever situated, to my Trustee hereinafter named for the benefit of my Spouse [name] if my Spouse shall survive me. If my Spouse shall predecease me, then I give, devise, and bequeath all of my property, of whatever nature and wheresoever situated, to my children, in equal shares, per stirpes and not per capita.

[Alternative Paragraph]

2. Bequest to Marital Trust. I give, devise, and bequeath all of my property, of whatsoever nature and wheresoever situated, to my Trustee hereinafter named for the benefit of my Spouse [name] if my Spouse shall survive me for a period of six calendar months from the date of my death. If my Spouse does not so survive me, I give, devise, and bequeath all of my property, of whatever nature and wheresoever situated, to my children, in equal shares, per stirpes and not per capita.

3. Distribution During Spouse's Life. My Trustee is directed to invest and reinvest the principal of the Trust and to collect the income thereof, and to pay the net annual income to, or apply the same for, the benefit of my Spouse in annual or more frequent installments. My Trustee is authorized to distribute to my Spouse as much of the principal of the Trust or apply the same fÉåmy Spouse's benefit as my Trustee deems necessary for my Spouse's health or support.

4. Spouse's Limited Power of Appointment During Spouse's Life. My Spouse may direct my Trustee at any time during my Spouse's life to distribute all or any portion of the Marital Trust to such of my descendants as my Spouse may appoint and to pay from the principal of the Trust any gift taxes that may result from such transfer. Such direction shall be in writing and duly acknowledged.

5. Spouse's General Testamentary Power of Appointment. Upon my Spouse's death, my Trustee shall convey all property then belonging to the principal of the Trust together with all undistributed income to such persons or persons, including my Spouse's estate, and in such interests or proportions as my Spouse shall appoint by her Will making specific reference to this power of appointment. If my Spouse does not survive me or, having survived me, fails to exercise or does not fully and effectually exercise such power of appointment, then upon my death or my Spouse's death, my Trustee shall convey all the principal and undistributed income of the Marital Trust that has not otherwise been effectually disposed of as follows:----------.

6. 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 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 exercising any of these powers or in funding or administering the Trust, my Executor and Trustee shall not exercise any power in a way that would infringe upon any legal requirement for the allowance of the marital deduction for federal estate tax purposes.

IN WITNESS WHEREOF, I have set my hand and seal this [date].

[signature]

[seal]

[Attestation]

Signed, published, and acknowledged by [name] as [his] Last Will and Testament in our presence, who, in [his] presence and in the presence of each other, and at [his] request, have subscribed our names as witnesses this [date].

[three signatures]

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.

[signature]

[Name of Notary Public]

My commission expires: [date]

(Seal)