When you have an injury in the workplace, the idea of a worker's compensation claim can seem stressful. However, filing a claim can be the difference between a life of debt and a life of happiness. T...
There are frequent news reports of consumers being injured while using products that they paid for in the properly instructed manner. Whether it's curling irons that leave your hair damaged and fried...
Financial service providers should work in the best interest of their clients, but a small misunderstanding of your provider's language can lead to a profound legal difference. The difference can hav...
Choosing a personal injury lawyer is no easy task. The person who you choose holds your future in your hands. While the wrong choice could result in debt and misfortune, the right choice could result...
1. Introductory Clause. I, [name], a resident of, and domiciled in, [city, shire, state], make, publish, and declare this Will, revoking all former wills made by me.
2. Payment of Debts. I name [name] as my Executor and direct that he pay all my debts and funeral expenses as soon after my death as is practicable. All inheritance, estate, or transfer taxes on my estate, passing under this Will to my beneficiaries, shall be paid by my Executor. These payments shall be treated as costs of administration and are to be paid, if possible, out of the corpus of my estate before its distribution.
3. Household Items. I give to [name], my Spouse, all household furnishings, books, musical instruments, Jewellery, automobile(s), and all my other personal effects. If my Spouse dies before I do, then I give all of these items to [name].
4. Power of Executor. I give to the Executor of my Will, or his [or her] successor, the power to (a) sell, mortgage, pledge, exchange, or otherwise dispose of, as he sees fit, the property that makes up my estate; (b) settle any claims for or against my estate, as he sees fit; and (c) make, execute, and deliver any deeds, contracts, mortgages, or other instruments necessary to accomplish these powers.
5. Residuary to Be Held in Trust. I give all the remainder of my property (Trust), to [name] of [address] (Trustee), as Trustee of the following Trusts:
a. Trust for Spouse. The entire net income from the Trust will be paid to my Spouse, in installments, at least quarterly each year, for the rest of my Spouse's life. If the net income for any year is less than ---------- dollars ($----------), my Spouse may demand during that year or within a subsequent six-month period that Trustee pay my Spouse an amount from the principal of the Trust that would give my Spouse an income from the Trust for that year of ---------- dollars ($----------). For purposes of this Paragraph 5, all years are financial years, the first of which commences with the date of my death, and all dividends, interests, or income are to be treated as income in the year in which they are collected by Trustee.
No person may exercise a power of appointment, during my Spouse's life, to designate any person, other than my Spouse, to be the beneficiary or remainderman of this Trust.
b. Trust for Children. Upon the death of my Spouse or if my Spouse dies before me, then upon my death, Trustee will divide the Trust into equal shares to be paid to each of my children surviving me, per stirpes. As each of my children reaches the age of twenty-five, Trustee will deliver to each child one half of the share of the Trust provided for the benefit of that child. When such child reaches the age of thirty, Trustee will deliver to that child the remaining half.
If any of my children die before they are entitled to receive the full share of the Trust provided for the child's benefit, Trustee will hold and administer that share for the benefit of the deceased child's living issue, per stirpes. The net income earned by this share will be distributed by Trustee for the comfort, maintenance, education, and support of the deceased child's issue. When any of the deceased child's issue reach age twenty-one, Trustee will deliver to such issue the share of the Trust provided for such issue's benefit.
If any of my children die without leaving issue, the share created for the benefit of that child will be divided equally among the other shares of Trust provided by this Paragraph 5(b) or distributed in the same way as other Trust shares.
6. General Provisions for Trust Payments. When a beneficiary dies, any unpaid net income due to the deceased beneficiary will be paid, as income, to the next beneficiary succeeding in interest. Trustee may pay income to a beneficiary who is under twenty-one in any of the following ways: (a) directly to the beneficiary; (b) to the beneficiary's legal guardian; (c) to a relative of the beneficiary, who will use the income for the education and maintenance of the beneficiary; or (d) Trustee may allocate the income for the education and maintenance of the beneficiary.
7. Trustee's Power to Increase Beneficiary's Income. If Trustee determines that the income from the Trust, and all other sources, to be paid to my Spouse, children, or other beneficiaries, is insufficient to provide for their health, education, support, or maintenance, Trustee may pay to the beneficiary a portion of the trust principal held for the benefit of that beneficiary. However, the total payment from principal to any beneficiary during any fiscal year may not exceed ---------- dollars ($----------).
8. Income to Be Paid When Received. Income payments shall be made only after the income has been received by Trustee.
9. Trust Not Subject to Claims or Transfer. None of the income or principal of the Trust will be subject to any claim of a creditor of a beneficiary, No disposition by a beneficiary or charge or encumbrance against income or principal of the Trust will be valid, and they shall be disregarded by Trustee. No payment, transfer, delivery, or conveyance of income or principal of the Trust to be made to any beneficiary can be made to a third party by order of a beneficiary, by assignment or transfer by a beneficiary, or by operation of law.
10. Trustee's Powers.
a. Distribution of Property. Trustee shall have the full power to (i) allocate to any trust created under this Will an undivided interest in any property that makes up a portion of the Trust; (ii) make joint investments for the Trusts; (iii) make distribution partly in kind and party in money; (iv) make distribution in kind; and (v) determine the value of the property described in (i) through (iv).
b. Sale or Lease of Property. Trustee may exchange, mortgage, pledge, sell at public or private sale, or lease for a period of ninety-nine years or less, any real or personal property of the Trust. This may be done on any terms and conditions that Trustee feels, in his [or her] best judgment, to be appropriate.
c. Investments. Trustee may invest any assets of the Trust in bonds, stocks, notes, real estate mortgages, securities, or real or personal property as Trustee, in Trustee's best judgment, sees fit. Trustee will not be limited by any statute or rule of law governing investments by trustees. Trustee may also retain, as long as Trustee deems it prudent, any investment property owned by me at my death, as part of the investment of the Trust.
d. Issuance of Securities. Trustee may hold or have registered in Trustee's name, or in the name of a nominee, or in such form that title will pass by delivery, any security or other property that makes up a portion of the Trust.
e. Reorganization of Companies Whose Securities Are Held by the Trust. Trustee may (i) consent to the reorganization, consolidation, or readjustment of the financial structure or sale of assets of any corporation, or other organisation, the securities of which make up the Trust; (ii) take any action in regard to these securities that is necessary, in the opinion of Trustee, to gain the benefit of a reorganization, consolidation, readjustment, or sale; (iii) exercise any conversion right or subscription right as the owner of any securities that make up the Trust; and (iv) accept and hold any securities from reorganization, consolidation, readjustment, sale, conversion, or subscription as a portion of the Trust.
f. Costs of Administration. Trustee will pay all taxes, expenses, charges, and costs of administration of the Trusts created by this Will. Trustee is to receive reasonable payment for services, including payment to Trustee's counsel and agents. Trustee will determine whether these payments will be charged against the principal or income of the Trusts.
g. Allocation Between Income and Principal. Trustee's allocation of trust receipts between income and principal shall be final, with these exceptions: (i) If securities are purchased at a discount, their entire subsequent sales price or maturity value is to be considered principal; (ii) if securities are purchased at a premium, the premium is to be charged against the principal and not amortized; and (iii) if a stock dividend or subscription right is declared on any stock that makes up a portion of the Trust, it is to be considered principal.
h. Miscellaneous Powers. Trustee may do whatever Trustee deems necessary for the proper management, investment, and distribution of the Trust.
[Optional Paragraph if Trustee is a company/corporation]
11. Successor Trustee. If Trustee or Trustee's successor becomes consolidated with another corporation, reorganizes, or reincorporates, and the resulting corporation acquires the assets and succeeds to the business of Trustee, that successor will assume the position of Trustee with all the rights, powers, duties, and privileges of original Trustee.
IN WITNESS WHEREOF, I have set my hand and seal this [date].
Signed, published, and acknowledged by [name] as her Will, in the presence of us, who, in her presence and in the presence of each other, and at her request, have subscribed our names as witnesses this [date].
Witnesses: [three signatures
Latest Lawyer Listings
- Law Offices of Jason C. Matalas, P.C.Category: AttorneysDescription: "When Your Future Depends on it – You Need the Best. Expert Divorce and Family law representation dedicated to protecting your family, your assets and your future. Let’s get started. Call Us Now: (978) 304-2888" Country: United States
- Atlanta Law ResolutionCategory: Tax LawDescription: People pay millions of dollars every year to " tax resolution" companies with little or no results. The are sucked in my constant stream of radio and TV ads and the high cost of many "Tax attorney". After helping people with debt problems for 30 years ...Country: United States
- RIGHT LawyersCategory: AttorneysDescription: Right Lawyers was started in 2004 by divorce attorney Stacy Rocheleau. She started the firm in an executive suite. Just Stacy, an office the size of a broom closet, a computer, and a few law books. 12 years later the firm has grown by adding four attorney ...Country: United States
- Schneider HammersCategory: Personal InjuryDescription: Schneider Hammers is an Atlanta personal injury law firm with over 40 years of collective experience. Clients do not pay unless the firm wins their case. Call today for a free injury review! 770-884-4626. Our practice is focused exclusively on helping ...Country: United States
- Burg Simpson - Trial LawyerCategory: AttorneysDescription: Founded: 1977 By Michael S. Burg Attorneys: 60+ trial lawyers, based in five offices in Colorado, Wyoming, Ohio and Arizona and providing nationwide legal representation Passion: To fight for peoples’ legal rights and hold negligent corporations and ...Country: United States
- Show more...
Post is under moderationStream item published successfully. Item will now be visible on your stream.
There are no activities here yet