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Last Will and Testament

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Last Will and Testament Powered By Docstoc
					This document is a Last Will and Testament and may be used by an individual to
identify their intentions. This document is drafted to adequately provide for the
appointment of a personal representative who will administer the individual's last will
and testament and carry out its provisions. This document will make sure that the
individual's assets and property are distributed in the manner prescribed by the
individual. This document is a useful estate planning tool for individuals who want to
determine the manner in which their assets are distributed upon death.
                           WILL OF ___________

     I, ______________, declare this to be my last will and testament (my “Will”):



1. INTRODUCTION

     A.     Revocation of Prior Wills

                    I revoke all of my prior Wills and Codicils.

     B.     Declaration Regarding Relatives

                    I am married to ______________ ("Spouse"). We have ___ [Comment:

            insert number] children: __________________. [Comment: insert names of all

            children] Such children and any child of mine born or legally adopted after the

            date of this Will are called "Children" and individually “Child.”

     C.     Disposition

                    I intend by this will to dispose of all property which I may be entitled to

            dispose of by Will, including all of my separate property, if any, and my share of

            the community property of my Spouse and myself. Except as otherwise expressly

            provided, I do not intend to exercise any power of appointment which may be

            vested in me at the time of my death. In addition, I have not entered into a

            contract to make a Will nor a contract to refrain from revoking my Will. I have
            intentionally omitted to provide for any of my heirs not specifically mentioned in

            this Will or in any Codicil to it.




2. SPECIFIC BEQUESTS
     A.     Tangible Personal Property
                        I give all automobiles, works of art, household furniture and furnishings,

                household equipment and appliances, silverware, jewelry, clothing and personal

                effects ("Tangible Personal Property") to my Spouse. If my Spouse shall

                predecease me, I give such property in equal shares to the Children living on the

                date of my death. If any child shall be a minor at the time of distribution of such

                property, the minor's share of such property shall be distributed for his or her

                account to the guardian of his or her person or to the other adult with whom such

                minor shall reside.

[Comment: user may amend this section as user desires]

        B.      Failure to Survive - Bequests Lapse

                        If any person named or described in this Article shall predecease me, all

                bequests to or for the benefit of such person shall lapse and all property so

                bequeathed shall be disposed of as part of the residue of my estate, except to the

                extent expressly provided to the contrary in this Will.



3. DISPOSITION OF RESIDUARY ESTATE

        I give the residue of my estate, real and personal, wherever situated, including all failed

and lapsed gifts, to my Spouse. If my Spouse shall predecease me, I give such residue, called the
"trust estate," to the Trustees, in trust, to manage and distribute as hereinafter provided.

        A.      Distribution of Trust Estate

                (i)     Upon the entry of any decree of distribution establishing the trust estate,

income from the trust estate shall be added to and become principal, and the Trustees shall pay to

or apply for the benefit of my issue living from time to time, or any one or more of them, such

sums and in such proportion as the Trustees, in their discretion, determine to be necessary from

time to time for their respective support, health or education. In no event shall the Trustees be

subject to any obligation, liability or surcharge on account of making distributions from the trust
estate to differing beneficiaries in differing amounts, or for the extent to which or the manner in

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which any such action was taken in good faith. Any payment or application of benefits pursuant

to this paragraph shall be charged against the trust estate as a whole rather than against the

ultimate share of a beneficiary to whom or for whose benefit the distribution is made.

                  (ii)   When all of the Children shall attain the age of __________
				
DOCUMENT INFO
Description: This document is a Last Will and Testament and may be used by an individual to identify their intentions. This document is drafted to adequately provide for the appointment of a personal representative who will administer the individual's last will and testament and carry out its provisions. This document will make sure that the individual's assets and property are distributed in the manner prescribed by the individual. This document is a useful estate planning tool for individuals who want to determine the manner in which their assets are distributed upon death.
This document is also part of a package Estate Planning for Married with Minor Children 9 Documents Included