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1 Revocation I, [name], a resident of, and domiciled in, [city, county, state], make, publish, and declare this Will, revoking all former wills made by me.
2 Nomination of executors and trustees I nominate (names of executors and trustees) as the executors of this my will and trustees of the whole of my estate and effects of whatever nature and kind and wherever situate (hereinafter referred to as "my estate") and I direct that there shall at times be not less than two nor more than (specify) executors or trustees and, if the number falls below two, the remaining executor or trustee shall forthwith assume another or others to act with him.
3. Waiver of security My executors and trustees, whether appointed or assumed hereunder, shall not be required nor called upon to furnish to the United States Supreme Court or to any other person or body, or any other law for the time being in force, for the due and proper fulfillment by them or any of them of the duties devolving upon them in their capacity as executors or trustees, and the United States Supreme Court is hereby directed to dispense with such security.
4 Indemnity My executors and trustees whether appointed or assumed shall not be answerable for or liable to make good any loss occasioned to or sustained by my estate trust or any beneficiary from whatsoever cause arising, save and except such loss as may arise from or be occasioned by their dishonesty. My executors or trustees shall be indemnified by my estate against all claims and demands of whatsoever nature that may be made against them arising out of the bona fide exercise or purported exercise of any of the powers conferred upon them hereunder.
5 Powers of executors and trustees (Extract and adapt those powers as are required) My executors and trustees shall have all powers and authority to administer my trust and without in any way limiting or detracting from the aforementioned general powers and authority or in any way limiting or detracting from any further or other rights, powers and privileges given to my executors and trustees hereunder, I further direct that in the administration of my trust, my executors and trustees shall also have the following additional powers and authority which they may exercise entirely at their discretion:
5.1 To preserve and maintain assets to expend money on the preservation, maintenance and enhancement of the assets in my estate;
5.2 to retain existing investments; to realize and reinvest to leave my estate or any portion thereof invested as it may be found at my death for such period as they in their discretion deem fit or upon trust to sell (whether by private treaty or public auction, as they in their discretion may decide), realize, call in or convert into cash so much thereof as they may from time to time in their discretion deem fit, with power to invest the proceeds of any realization and any amounts from time to time in their hands in such manner as they in their discretion deem fit, and to realize, reinvest and vary any such investments from time to time. Without detracting from the general powers conferred, I expressly direct that my executors and trustees shall have the power to take up any rights, bonus shares or other advantages attaching to any shares which may be held by them;
5.3 to invest and reinvest to invest my estate or any monies or assets forming part thereof in the purchase of such stocks, funds, shares, securities or other investments or property, movable or immovable, of whatsoever nature and wherever situate and whether involving liability or not, and whether producing income or not, or upon such personal credit, with or without security, as my executors and trustees shall in their sole and absolute discretion think fit, including the purchase of any property or a residence for any heir, and the purchase of movables for the use of such heir, to the intent that my executors and trustees shall have full and unrestricted powers of investing and reinvesting and laying out monies in all respects as if they were absolutely entitled thereto beneficially and in the exercise of this power my executors and trustees shall not be liable for any loss to my trust arising from any investment or purchase made in good faith;
5.4 to improve and develop immovable property to improve and develop any immovable property by erecting buildings thereon or otherwise, to preserve and maintain any such buildings, to let or lease any such or other buildings and to demolish any buildings;
5.5 to carry on any business to carry on or dissolve any business, company, venture or partnership in which I may have been engaged at the time of my death; (Alternative clause : to carry on or discontinue as they in their discretion deem fit any business or partnership which forms part of my estate);
5.6 to borrow to borrow for any of the purposes of the administration of my trust from time to time such sums of money on such terms and conditions as they may think fit, with power from time to time to consent to any variations or alterations of the terms of any such loan, and to mortgage or pledge, either generally or specially, any asset constituting portion of my trust, and to make, sign, execute, and cause to be registered such mortgage bonds, stocks or deeds of hypothecation as may be requisite and, if considered fit, to borrow afresh on security or otherwise for the purpose of repaying any such mortgage or pledge;
(Alternative clause: to borrow money in such amounts and upon such terms as they may determine for the purpose of discharging any liabilities of my estate or trust or generally for the purpose of administering my estate or trust and to secure such borrowing by the mortgage or pledge or other charge of or on any assets which are held by them from time to time);
5.7 to lend to lend money with or without interest, or with or without security, and generally upon such terms as they may in their sole and absolute discretion think fit; (Alternative clause : to make secured or unsecured loans with or without interest to beneficiaries or to any corporations in which my executors and trustees in their representative capacities or the beneficiaries from time to time hold shares);
5.8 to vote to exercise the voting power attached to any shares in such manner as they may in their sole and absolute discretion think fit in the best interest of my trust or my heirs hereunder;
5.9 to grant credit to grant credit in respect of the whole or any portion of the purchase price, with or without security and with or without interest, as they in their sole and absolute discretion may consider fit, whenever effecting the sale of any assets constituting portion of my trust;
5.10 to decide what monies represent capital and what income to determine whether any amount received by them represents for the purposes hereof capital or income, provided that all profits made on the realization of investments or other assets shall be regarded as capital. Any determination made by my executors and trustees as aforesaid shall be final and binding on all heirs;
5.11 to decide whether expenditure should fall on capital or income to determine whether any expense incurred in the administration of my trust or in relation to any property for the time being comprised therein should be defrayed out of capital or income or partly out of the one and partly out of the other and if so in what proportions;
5.12 to pay heirs in cash or kind to pay or make over any amount due to an heir under this will in cash or in kind and, whether for the purpose of payment to an heir or for the purpose of allocating assets to or for the purpose of the various trusts to be administered by them, to distribute assets of my trust in such manner as they consider fit in accordance with valuations made or obtained by them;
5.13 to defer the payment of inheritances to defer the payment of any inheritances in order to avoid liquidating any of my business interests or other assets at a time when they in their discretion consider it inadvisable to do so;
5.14 to grant powers of attorney to grant a special power of attorney or a general power of attorney to a trustee or to any other person to carry out all or any of his duties as such and to cancel such powers of attorney at any time;
5.15 to guarantee debts to guarantee debts on such terms as they in their discretion may determine including the renunciation of the legal benefits;
5.16 to permit occupation or use of trust property in their discretion to allow any person to occupy any immovable property or use any movable property forming part of my estate or trust;
5.17 to open and operate a banking account to open a banking account in the name of my estate and trust and to deposit therein all monies not immediately invested and to withdraw there from any monies required for the purposes herein mentioned;
5.18 to employ representatives to employ representatives, whether attorneys, counsel, bankers, secretaries, accountants, auditors or brokers, to transact all or any business of whatsoever nature required to be done in connection with my estate and my trust herein created and to pay all such charges and expenses so incurred as a first charge against my estate or trust and my executors and trustees shall not be liable for the default of any such representatives, or for any loss occasioned by such employment;
5.19 to engage in legal proceedings to institute or defend legal proceedings.
6 Allocation of income accruing before confirmation of final accounts Any income which accrues to my estate before the confirmation of the final liquidation and distribution account of my estate shall be deemed to be income received by my trustees for the purpose of the various trusts to be administered by them and shall be dealt with by them as such. Such income shall accordingly not be regarded as forming part of the capital of my estate.
7 Estate to trustees upon trust I direct that upon my death my estate shall devolve upon and be retained and administered by my trustees who shall stand possessed
thereof upon trust for the benefit of (name of spouse) during their lifetime and thereafter for the benefit of my children or remoter issue to the extent herein set forth and for these purposes shall have all the powers and authorities herein conferred upon them.
8 Income to wife for life My trustees shall pay to my (name of spouse) during their lifetime the income arising from my estate. (Should the income from my estate be, in the opinion of my trustees, insufficient for the maintenance, general welfare, comforts and reasonable pleasures of my said (name of spouse), they shall be entitled to use and apply so much of the capital of my estate as they may consider reasonable.)
9 Capital to children Subject to the provisions of clause 8 of this my will, my trustees shall stand possessed of my estate and the income thereof upon trust, in equal shares, for all or any of my children, until they attain the age of (specify) years, providing always that if any of my children shall die under the age of (specify) years leaving issue surviving him or her then such issue, if and when they attain the age of (specify) years, shall take the share which his, her or their parent would have taken had he or she survived to take an absolutely vested interest hereunder and, if more than one, in equal shares and so that no issue shall take whose parent survives to take a vested interest hereunder. If any child of mine shall die under the age of (specify) years without leaving issue then the share of my estate which would have gone to such child shall devolve upon my remaining children in equal shares or their children by representation per stirpes. (Provision may here be made for an ultimate trust in the event of no child or issue taking an absolutely vested interest.)
10 Maintenance and advancement If any of my children or remoter issue are at the date of the death of (name of spouse) or of myself (whichever shall occur the later) under the age(specify) years then:
10.1 In respect of such child or remoter issue (hereinafter referred to as "such beneficiary") my trustees shall retain and administer the portion of my estate to which such beneficiary may become entitled for the benefit of such beneficiary;
10.2 My trustees may, in their sole and absolute discretion use and apply the whole or any portion of the income arising from my estate for the maintenance, education (including university education in the United States of America or elsewhere), support, advancement and general welfare of any such beneficiary, setting him or her up in a business or a profession or fitting him or her for a career. Any income which may be so applied or used by my trustees in terms hereof may at their discretion be paid either to such beneficiary or to any other person or to any school or university on his or her behalf.
If the income of my estate is, in the opinion of my trustees, insufficient for the aforementioned purposes or any of them, my trustees shall be entitled to apply or use so much of the capital of my estate as they may consider reasonable.
Signed by me at (place) on (date) in the presence of the undersigned witnesses all of us being present at the same time.
[Signatures of two witnesses]
[Signature of testator]