Simple Non-Tax Sensitive Will with Child Trusts

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Simple Non-Tax Sensitive Will with Child Trusts Powered By Docstoc
					This is a sample template an individual can use to draft their own customized will. This
particular will establishes trusts for the benefit of children that are related to the testator.
This template contains both standard clauses and opportunities for the use of optional
terms and conditions making it fully customizable to fit the needs of the user. This
template is ideal for individuals that want to see how a will is organized and drafted.
                                             WILL OF ___________
                          Non-Tax Sensitive Will with Child Trust
         I, ______________, declare this to be my last will and testament (my “Will”):



                                              I. INTRODUCTION

         Revocation of Prior Wills: I revoke all of my prior Wills and Codicils.

         1.       Declaration Regarding Relatives

                            I am married to ______________ ("my spouse"). We have the following
                  children: __________________ and __________________. Such children and

                  any child of mine born or legally adopted after the date of this Will are called "my

                  children."

         2.       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.



                                          II. SPECIFIC BEQUESTS

         1.       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

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                  predecease me, I give such property in equal shares to my 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.

         2.       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.



                            III. 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 distri

         1.       Division of Trust Estate Into Separate Trusts [Option: separate trust established

                  for each kid.

                  Upon the entry of any decree of distribution establishing the trusts created in this
Article, the Trustees shall divide the trust estate into separate, equal trusts as follows:

                  ()        One trust for each child of mine living at the time of my death, to be

managed and distributed as hereinafter provided.

                  ()        One trust collectively for the then living issue of each deceased child,

which trust shall be distributed to such issue, upon the principle of representation.




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Description: This is a sample template an individual can use to draft their own customized will. This particular will establishes trusts for the benefit of children that are related to the testator. This template contains both standard clauses and opportunities for the use of optional terms and conditions making it fully customizable to fit the needs of the user. This template is ideal for individuals that want to see how a will is organized and drafted.
This document is also part of a package Estate Planning for Married with Minor Children 9 Documents Included