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Last Will & Testament
I, [YOUR NAME HERE], a resident of [COUNTRY], [STATE OF RESIDENCE], declare that this is my Will and revoke all wills and codicils that I have previously made.
First: I am now married to [SPOUSES NAME], and all references in this Will to "my Wife" are to her. I have [NUMBER OF CHILDREN(--)] children now living whose names are: [NAME(S) OF CHILDREN] I have one stepchild now living whose name is: [NAME OF STEPCHILDREN]. The terms "my child" and "my children", as used in this will, shall include any other children hereafter born to me of [SPOUSES NAME] and [NAMES OF ALL CHILDREN TO BE INCLUDED IN THE WILL]. The Term "issue of mine", as used in this will, shall include [NAMES OF ALL YOUR CHILDREN] and any children born to [NAMES OF YOUR CHILDREN]. The Trust referred to in Paragraph Sixth is Designated as the " YOUR NAME FAMILY TRUST", and provides for my [WIFE] and children.
Second: If any Beneficiary under this will in any manner, directly or indirectly, contests this will or any of its provisions, any share or interest in my estate given to that contesting beneficiary under this Will is revoked and shall be disposed of in the same manner provided herein as if that contesting beneficiary had predeceased me without issue.
Third: I nominate my wife, [WIFE'S NAME] as Executrix of this Will. If my wife shall for any reason fail to qualify or cease to act as such Executrix, I nominate [NAME OF EXECUTOR] to serve as Executrix during the minority of [NAME(S) OF CHILDREN] and until such time as they shall both reach [PUT IN THE AGE WHEN CHILDREN WILL START TO MANAGE THEIR OWN PROPERTY] years of age.
Fourth: I intend by this Will to dispose of all my separate property, if any and all my quasi-community property, if any. I believe it to be for my wife's benefit to take under this Will, and I request that she give careful attention to doing so. But if my wife elects to take the rights given her by law, she shall nevertheless be entitled to the benefits given to her by this Will with respect to all property remaining subject to it, and she shall also be entitled to her rights to family allowance and probate homestead.
Fifth: I give all my jewelry, art objects, clothing, household furniture and furnishings, personal automobiles and other tangible articles of a personal nature, or my interest in any such property, not otherwise specifically disposed of by this Will or in any other manner, together with any insurance on the property, to [NAME OF THE PERSON TO RECEIVE THIS GIFT] if she survives me for four (4) months; otherwise equally to [NAMES OF ALTERNATE BENEFICIARIES].
My Executor shall represent any of my children under the age of [PUT IN AGE SELECTED IN PARAGRAPH 3] in matters relating to any distribution under Paragraph Fifth, including selection of the assets that shall constitute that child's share, and my executor may in my executor's discretion sell for the child's account any part of the child's share. Any property or its proceeds distributable to a child under eighteen (18) years of age pursuant to this paragraph Fifth may be delivered without bond to any suitable person with whom he resides or who has the care and control of him. If a beneficiary under this will desires to have all or a part of any tangible personal property shipped to any point selected by him, in (state country), I direct that the packing and transportation charges so incurred be paid out of my residuary estate.
Sixth: I give the residue of the property disposed of by this Will to the trustee, or any successor Trustee, of that trust established as the [YOUR NAME FAMILY TRUST] bearing the same date as this Will, of which my wife and I are settlors, and I direct that the property so given shall be added to, administered and distributed as a part of that trust according to the terms and conditions of that trust on the date of my death, giving effect to any amendments made to it prior to my death and any amendments thereafter made in accordance with the terms of that trust by the exercise of any power of amendment, appointment, withdrawal or otherwise.
If for any reason the above disposition in this paragraph Sixth is not operative or invalid, or if the trust referred to above fails or has been revoked, then I hereby incorporate herein by reference the terms of said trust on the date of its execution, without giving effect to any subsequent amendments thereto (but giving effect to the exercise of any power of appointment and any power of withdrawal set forth in said trust on the date of its execution), and I give the residue of my estate to the Trustee, or the successor Trustee, named by said Trust, to be held, administered and distributed as herein provided.
Seventh: My Executor shall pay from the residue of my estate, all inheritance, estate, and other taxes (excluding any additional tax that may be assessed under the present taxation laws) or any generation skipping transfer under present taxation laws, including interest and penalties, that may, because of my death be attributable to any asset included in my probate estate, and all taxes shall be prorated and apportioned among and collected from those persons who receive an interest in that property as provided by law.
Eighth: If a guardian is needed for any child of mine, then I nominate [NAME OF GUARDIAN] to serve as the guardian of the person of that child, and I nominate [NAME OF GUARDIAN] to serve as the guardian of the property of the child. If [NAME OF GUARDIAN] does not serve as the guardian of the child then I nominate [NAME OF ALTERNATE GUARDIAN] to serve as the guardian of the person of that child and [NAME OF ALTERNATE GUARDIAN] to serve as the guardian of the property of the child. If [NAME OF ALTERNATE GUARDIAN] does not serve as the guardian of the child I nominate [NAME OF SECOND ALTERNATE GUARDIAN] as the guardian of the person of the child and [NAME OF SECOND ALTERNATE GUARDIAN] as the guardian of the property of the child.
Ninth: No bond shall be required of any executor named in this Will. The term "my Executor" as used in this will shall include any personal representative of my estate.
I authorize my Executor to sell, exchange, or encumber property with or without notice, at either public or private sale, and to lease any property belonging to my estate subject only to such confirmation of court as may be required by law. I further authorize my Executor, on any preliminary or final distribution of the property in my estate, to partition, allot, and distribute my estate in kind, including undivided interests in my estate, or any part of it, or partly in cash and partly in kind, or entirely in cash, in my Executor's absolute discretion.
My Executor shall have absolute discretion (but shall not be required), to make adjustments in the rights of any beneficiaries, or among the principal and income accounts, to compensate for the consequences of any tax decision or election, or of any portion of any interest in property passing to my estate, that my Executor believes has had the effect, directly or indirectly, of preferring one beneficiary or group of beneficiaries over others.
In determining the federal estate and income tax liabilities of my estate, my Executor shall have discretion to file joint income tax returns or gift tax returns, to select the valuation date and to determine whether any or all of the allowable administration expenses in my estate shall be used as federal estate tax deductions or as federal income tax deductions.
Notwithstanding any provisions of [NAME OF THE STATE OF YOUR RESIDENCE] law to the contrary, my wife shall have the power, subject to any necessary court approval, to purchase assets from, or loan funds to, my estate. Any such purchase shall be for adequate consideration; and any such loan shall bear no more than a fair rate of interest, and may be subject to reasonable security.
While my wife shall serve as Executor of my estate, my wife shall have the power to allocate responsibility for debts of my estate between my wife individually and my estate (subject to approval of the probate court as an allocation substantially protecting the rights of all persons interested in my estate ) as fully as an Executor other than my wife could agree with my wife to do so, and no beneficiary shall have any rights to recoupment of any loss resulting therefrom.
Notwithstanding anything to the contrary in this will or in any trust that I may have, if my estate includes (state country) obligations which are redeemable at par in payment of federal estate taxes (unless such obligations are selling in excess of par value), my Executor shall utilize such obligations for the payment of such federal estate taxes to the full extent of my interest in any such obligations which may be so used prior to the application of any other assets in my taxable estate or in any trust estate that I may have.
I authorize my Executor, in my Executor's sole discretion, to retain any property in my estate for as long as my Executor deems appropriate. The Executor shall not be liable for any loss realized by my estate by retaining such property.
I further authorize my Executor either to continue the operation of any business belonging to my estate for such time and in such manner as my Executor may deem advisable and for the best interests of my estate, or sell or liquidate the business at such time and on such terms as my Executor may deem advisable and for the best interests of my estate. Any such operation, sale or liquidation by my executor in good faith shall be at the risk of my estate and without liability on the part of my Executor for any resulting losses.
I authorize my Executor to invest and reinvest any surplus monies of my estate that the Executor considers advisable in any kind of property, specifically including, but not limited to, interest bearing accounts, corporate and government obligations of every kind, preferred or common stocks, shares of mutual funds, investment trusts of any kind and character, and stocks, obligations, and shares or units of common trust funds or any corporate fiduciary.
Notwithstanding the foregoing investment authorization, the Executor shall not be liable for the failure to exercise the powers granted in this paragraph.
My estate may be administered under the [NAME OF THE STATE OF YOUR RESIDENCE] Independent Administration of estates act.
If any provision of this Will is unenforceable, the remaining provisions shall remain in full effect.
Tenth: As used in this will, the masculine, feminine, or neuter gender, and the singular or plural number, shall be deemed to include the other when ever the context so indicates.
Eleventh: I have neither entered into a contract to make wills nor entered into a contract not to revoke wills, and the similarity of provisions of this Will to the provisions of the Will of my wife, executed by my wife on the same date as this Will, shall not be construed as evidence of any such contract.
I sign my name to this Will this [DAY, MONTH, YEAR]. at [CITY] , [STATE].
[NAME OF THE PERSON MAKING THE WILL]
The foregoing instrument consisting of five (5) pages, including this page, was at the date thereof, by the testator, signed as and declared to be his Will, in the presence of us who, at his recent request and in his presence, and in the presence of each other, have subscribed our names as witnesses thereto. Each of us observed the signing of this Will by the testator and by each other subscribing witness and knows that each signature is the true signature of the person whose name is signed.
Each of us is now more than eighteen (18) years of age and a competent witness and resides at the address set forth after his or her name.
We were acquainted with the testator. At the time, he is over the age of eighteen (18) years, and to the best of our knowledge, he is of sound mind and is not acting under undue influence, misrepresentation, fraud, menace or duress.
We declare under the penalty of perjury that the forgoing is true and correct.
Executed on [DATE] at [CITY, COUNTRY], STATE.
[NAME] residing at
[NAME] residing at
[NAME] residing at
IN WITNESS WHEREOF, I have set my hand and seal this as of the above written date.
Witnesses: [three signatures]
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]