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Last Will and Testament of _________________________
I, ____________________________, of ____________________________________
(Address), do hereby make, publish and declare this to be my Last Will and
Testament, hereby expressly revoking all wills and codicils heretofore made by
me.
ARTICLE I
I direct my Executor to pay my judicially enforceable debts, funeral expenses
and the administrative expenses of my estate as soon after my death as practicable.
Further, I direct that all estate and inheritance taxes and other taxes in the
general nature thereof (together with any interest or penalty thereon), which shall
become payable upon or by reason of my death with respect to any property passing
by or under the terms of this Will or any codicil to it hereafter executed by me,
or with respect to the proceeds of any life insurance policy or policies, or with
respect to any other property (including property over which I have a taxable power
of appointment) included in my gross estate for the purpose of such taxes, shall be
paid by my Executor out of the principal of my residuary estate, and I direct that
no part of any such taxes be charged against or collected from the person receiving
or in possession of the property taxed, or receiving the benefit thereof, it being
my intention that all such persons, legatees, devisees, surviving tenant by the
entirety, appointees and beneficiaries receive full benefits without any diminution
on account of such taxes.
ARTICLE II
I do give and bequeath to my _________________ (Spouse),
______________________(Name), all my personal effects and all my tangible personal
property, including automobiles owned by me and held for my personal use at the
time of my death, but excluding cash on hand in bank accounts in my own name, or
securities, choses in action or other intangibles.
In the event my ___________________ (Spouse) shall not survive me, then I give
and bequeath all such tangible personal property to my surviving children, to be
divided among them as they may agree. If any dispute shall arise among my children
regarding the division of such property, my Executor shall have the power to make a
final and binding determination as to the distribution of such property.
ARTICLE III
If my _________________ (Spouse), ___________________________________(Name),
shall survive me, I give, devise and bequeath to my ___________ (Spouse) cash,
securities or other property of my estate (undiminished by any estate, inheritance,
succession, death or similar taxes) having a value equal to the maximum marital
deduction as finally determined in my federal estate tax proceedings, less the
aggregate amount of marital deductions, if any, allowed for such tax purposes by
reason of property or interests in property passing or which have passed to my
______________________ (Spouse) otherwise than pursuant to the provisions of this
Article; provided, however, the amount of this bequest shall be reduced by the
amount, if any, needed to increase my taxable estate (for federal estate tax
purposes) to the largest amount that, after allowing for the unified credit against
the federal estate tax, and the state death tax credit against such tax (but only
to the extent that the use of such state death tax credit does not increase the
death tax payable to any state), will not result in a federal estate tax being
imposed on my estate. The term "maximum marital deduction" shall not be construed
as a direction by me to exercise any election respecting the deduction of estate
administration expenses, the determination of the estate tax valuation date, or any
other tax election which may be available under any tax laws, only in such manner
as will result in a larger allowable estate tax marital deduction than if the
contrary election had been made. My _________________ (Spouse) shall have the sole
discretion to select the assets which shall constitute this bequest. In no event,
however, shall there be included in this bequest any asset or the proceeds of any
asset which will not qualify for the federal estate tax marital deduction, and this
bequest shall be reduced to the extent that it cannot be created with such
qualifying assets. My Executor shall value any assets selected by my ______________
(Spouse) for distribution in kind as a part of this bequest at the value of such
asset at the date of distribution of such asset.
ARTICLE IV
All the rest of the property which I may own at the time of my death, real or
personal, tangible and intangible, of whatsoever nature and where ever situated,
including all property which I may acquire or become entitled to after the
execution of this Will, including all lapsed legacies and devises, or other gifts
made by this Will which fail for any reason (but excluding any property over or
concerning which I may have any power of appointment), I bequeath and devise to my
Trustee hereinafter named for the following uses and purposes and upon the
following terms and conditions:
1. Commencing with the date of my death, my Trustee shall pay to or apply for
the benefit of my ___________________ (Spouse) during __________ (his/her)
lifetime, all the net income from the trust in convenient installments but no less
frequently than quarterly.
2. In addition, my Trustee may pay to or apply for the benefit of my ___________
(Spouse) such sums from the principal of the Trust as in __________ (his/her) sole
discretion shall be necessary or advisable from time to time for the medical care,
support and maintenance of my ____________ (Spouse), taking into consideration to
the extent my Trustee deems advisable, any other income or resources of my
________________ (Spouse) known to the Trustee.
3. In addition to the income and discretionary payments of principal from this
Trust, there shall be paid to my ________________ (Spouse) during _____________
(his/her) lifetime from the principal of this Trust upon written request during the
last month of each fiscal year of the Trust an amount not to exceed during such
fiscal year the amount of Five Thousand Dollars ($5,000.00) or five (5) percent of
the aggregate value of the principal of the Trust on the last day of each fiscal
year without reduction for the principal payment for such fiscal year, whichever is
greater. This right of withdrawal is noncumulative so that if my _____________
(Spouse) does not withdraw, during such fiscal year, the full amount to which
(he/she) is entitled under this Article, _________________ (his/her) right to
withdraw the amount not withdrawn shall lapse at the end of that fiscal year.
4. The provisions of this Trust in favor of my ________________ (Spouse) shall
not be subject to attachment or be liable to be taken over for my ________________
(Spouses) debts by any legal process whatever; and if my _______________________
(Spouse) shall attempt to alienate, dispose of, anticipate, encumber, or create a
charge upon the income or principal to which _____ (he/she) is entitled; or if
_______ (he/she) shall become bankrupt or make or attempt to make any assignment
for the benefit of creditors; or if the income or principal of this trust shall in
any way be attached, diverted, seized or sequestered by any legal process, then the
Trustee may immediately cease to pay income or principal to my ____________
(Spouse), and may, thereafter, apply such part of the income or principal or even a
whole thereof as the Trustee shall deem wise for my ___________ (Spouse's)
maintenance and support.5. Upon the death of my _______________ (Spouse), the
entire remaining principal of the Trust shall be distributed in equal shares to my
children, ______________________. In the event any child of mine is not living at
the time of my ________________ (Spouse's) death, then I give such deceased child's
share to the issue of such deceased child of mine, per stirpes. If any child of
mine fails to survive me in accordance with the provisions of this Will and has
died without issue, then such child's share shall be distributed among my surviving
children, per stirpes.6. In the event any beneficiary under this Article has not
reached the age of twenty-one (21) years, then the share of any such beneficiary
shall be retained in trust and held, managed and distributed for the beneficiary's
benefit. So much of the income from this trust and, if net income be at any time
insufficient, so much of the principal of this trust as may be deemed necessary in
the sole discretion of my Trustee (taking into account all other sources of income
or support of the beneficiary of which my Trustee has knowledge) may be either paid
to or expended on behalf of the beneficiary (whichever in the Trustee's sole
discretion is deemed most appropriate) in order to ensure the support, maintenance,
health, and education (including collegiate, vocational, professional, etc.) of the
beneficiary.
When the beneficiary reaches the age of twenty-one (21) years, the principal,
together with any accumulations of income, shall be paid over and distributed to
the beneficiary.
In the event that the beneficiary should fail to attain the age of twenty-one
(21) years, the property being held for the beneficiary shall be paid over and
distributed (i) to the beneficiary's issue, per stirpes, or in default of such,
(ii) to the beneficiary's brothers and sisters and descendants of deceased brothers
and sisters, per stirpes, or, in default of such, (iii) to my heirs, determined as
if I had died at the time of such beneficiary's death, pursuant to the General
Statutes of ____________________________ (State) as written on the date of this
Will.
If, at any time, the property held in trust for any beneficiary under this
Article is an amount so small that, in the sole discretion of my Trustee, the
continuation of the trust is not in the overall best interest of the beneficiary,
then my trustee may (i) pay over and deliver such property to the beneficiary, or
(ii) convert the trust assets into qualifying property and pay over and deliver
such property to a suitable person as Custodian for the beneficiary and so
terminate the trust.
ARTICLE V
My ________________ (Spouse) or _______ (his/her) personal representative may
disclaim or renounce in whole or in part any gift, benefit, provision, or power in
_______ (his/her) favor, including, without limiting the generality of the
foregoing, any benefit payable to _____ (him/her) as my surviving beneficiary under
any retirement plan, IRA, annuity, or insurance policy. Unless otherwise
specifically provided elsewhere in my Will or any Declaration of Trust in existence
at the time of my death, the gift, benefit, provision, or power, to the extent of
the disclaimer or renunciation, shall become part of the residue of my estate and
be disposed of as provided in Article ______ of my Will.
ARTICLE VI
I appoint ___________________________ as my Executor.
If ____ (he/she) should not survive me, or is unwilling or unable to complete
the administration of my estate, I appoint _______________________________ as my
Executor. I direct that my Executor or Contingent Executor, whichever shall serve,
shall not be required to post bond.
ARTICLE VI
I appoint ___________________________, as Trustee of any trust created herein.
If ____ (he/she) should not survive me, or is unwilling or unable to serve, I
appoint ___________ _____________________, as Trustee of any trust created herein.
I direct that my Trustee shall not be required to post bond.
ARTICLE VIII
I hereby grant to my Executor and also to the Trustee of any trust established
hereunder, the continuing absolute, discretionary power to deal with any property,
real or personal, held in my estate or in any trust, as freely as I might in the
handling of my own affairs. Such power may be exercised independently and without
the prior or subsequent approval of any court or judicial authority, and no person
dealing with the Executor or Trustee shall be required to inquire into the
propriety of any of their actions. Without limiting any of the powers that my
Trustee or Executor may have under the laws of _______________ (State) or of any
state wherein the trust fund or assets of my estate may be situated, I hereby grant
to my Trustee and Executor the following specific powers and authority in addition
to and not in substitution of powers conferred by law:
A To make distributions in cash or in specific property, real or personal, or an
undivided interest in such property, or partly in cash and partly in such property,
and to do so without regard to the income tax basis for federal tax purposes of
specific property allocated to any beneficiary.
B. To sell, transfer or convey, at public or private sale and at such price or
such terms and in such manner as said Trustee or Executor shall deem best, any
property, real or personal, tangible or intangible, constituting a part or all of
my estate or the trust, and to execute deeds or other instruments necessary to
effect such sale, transfer or conveyance.
C. To compromise and settle claims in favor of or against my estate or the trust
estates.
D. To hold and exercise any and all powers set forth in ______________ (State)
General Statutes Sections _____________ (Statutes) as written on the date of my
death, and these powers are hereby incorporated by reference and made a part of
this instrument and such powers are intended to be in addition to and not in
substitution of the powers conferred by law.
ARTICLE IX
Any person who fails to survive me by _________ days shall be deemed to have
predeceased me for purposes of succession to property under this Will.
ARTICLE X
If my ______________ (Spouse) and I shall die under such circumstances as to
render it doubtful as to which of us died first, it shall be conclusively presumed
that my _____________ (Spouse) _____________________ (Predeceased/Survived) me.
IN WITNESS WHEREOF, I sign, seal, publish and declare this instrument to be my
Last Will and Testament, this the ________ day of ___________________, _____.
__________________________________
__________________________________
I, ____________________________, the ______________________(Testator/Testatrix)
sign my name to this instrument this the _____ day of _________ (month), _____
(year) and being first duly sworn, do hereby declare to the undersigned authority
that I sign and execute this instrument as my free and voluntary act for the
purposes therein expressed, and that I am eighteen (18) years of age or older, of
sound mind, and under no constraint or undue influence.
__________________________________
__________________________________
We, ____________________________ and ______________________________, the
witnesses, sign our names to this instrument, being first duly sworn, and do hereby
declare to the undersigned authority that the __________________
(Testator/Testatrix) signs and executes this instrument as ________________________
Last Will and Testament and _____ (he/she) signs it willingly, and that each of us,
in the presence and hearing of the ___________________, (Testator/Testatrix) hereby
signs this Will as witness to the ________________ (Testators/Testatrixs) signing,
and that to the best of our knowledge
the ________________ (Testator/Testatrix) is eighteen (18) years of age or
older, of sound mind, and under no constraint or undue influence.
________________________________________
________________________________________
STATE OF _______________________
COUNTY OF _____________
Subscribed, sworn to and acknowledged before me by _________________________,
the ___________________, (Testator/Testatrix) and subscribed and sworn to before me
by __________________________________ and ________________________________,
witnesses, this the _______ day of _______________ (month), _____ (year).
________________________________________
Notary Public
My Commission Expires :______________________
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