Testamentary Trust of the Residue of an Estate for the Benefit of a Wife with the
Trust to Continue for Benefit of Children after the Death of the Wife.
Section (Number). Division of Residue
I give the residue of my estate to (Name of Trustee), hereinafter called the
Trustee, in trust, to be held and administered on the following terms:
A. If my Wife survives me, Trustee shall pay the net income from the
Trust estate to my Wife until her death.
B. Trustee shall have the power in his absolute discretion to pay or
apply for my Wife as much of the Trust principal as Trustee deems
necessary for her support, care, and health during her lifetime. The
discretion of Trustee shall be exercised liberally in favor of my Wife, it being
my intention that she shall have, in addition to the necessities, a reasonable
number of the luxuries of life.
C. On the death of the survivor of my Wife and myself:
1. If there is then a living child of mine under (age) years of age,
the Trust shall continue, on the following terms:
a. Trustee shall pay to or for my surviving children and the
issue of any deceased child of mine, whether such child of
mine shall predecease me or die after my death, as much of
the Trust income and principal as Trustee, in Trustee's absolute
discretion, determines necessary for their support,
maintenance, education (including college and professional
education), and health. Such payments need not be in equal
amounts. Trustee may exclude any one or more of the children
and issue. Payments made pursuant to this provision shall not
be charged against the distributive share of any person on
termination of this Trust. Any income not expended as
provided in this Trust shall be accumulated and added to Trust
principal.
b. This Trust shall terminate on the date when there is no
living child of mine under (age) years of age. On such
termination, the Trust Property, including accumulated and
undisbursed income, shall vest in and be distributed to my
then-living children and the issue of any deceased child, per
stirpes.
2. If there is then no living child of mine under (age) years of age,
the Trust property, including undisbursed income, shall vest in and
be distributed to my then-living children and the issue of any
deceased child, per stirpes.
D. On the termination of the Trust, if there be no living issue of mine,
the Trust Property and undistributed accumulated income shall vest in and
be distributed to the person or persons who would be my heirs-at-law if I
had survived the termination of the Trust, and then died, determined as of
the date of termination and according to the laws of (name of state) then in
force respecting descent and distribution of Property.
Section (Number).
SECTION [NUMBER OF SECTION].
PROVISION IF WIFE AND CHILDREN
PREDECEASE TESTATOR
If neither my [husband/Wife] nor issue of mine survive, I give all my Property
to [names of remaindermen and their respective shares if no surviving issue of
testator].
Section (Number). Powers of Trustee.
Except as otherwise provided, the following provisions shall apply to the Trust
under this Will:
A. In exercising the discretion granted with respect to the Trust, Trustee
may take into consideration other income or other resources known by
Trustee to be available to the beneficiary or beneficiaries receiving
payments. Trustee may accept as final and conclusive the written
statement of the beneficiary receiving payment as to other income or other
resources.
B. When any beneficiary entitled to receive payments is a minor, or, in
the absolute judgment of Trustee, is mentally incompetent (irrespective of
whether legally so adjudicated), or is physically disabled, Trustee may, in
Trustee's absolute discretion, expend or apply any such payments for the
benefit of the beneficiary, or, in case of a minor beneficiary, may make such
payments to the parents of the beneficiary, to the person or persons with
whom the beneficiary then resides, or to the legal guardian of the
beneficiary.
C. Income of the Trust estate actually collected but not distributed at
the date of the termination of the Trust shall be payable, or credited, as
income to the beneficiary or beneficiaries entitled to the next estate or
interest in proportion to his, her, or their, respective interests. If, prior to
the final distribution of my estate to Trustee, any part of the net income
from my estate has been paid by my executor to any person or persons
designated to receive any part of the T