Fill and Sign the Complex Will Maximum Unified Credit to Spouse Form

LAST WILL AND TESTAMENT OF _______________________ I, _______________________, an adult resident citizen of _______________________ County, _______________________, being of sound and disposing mind, memory and understanding, do hereby make, publish and declare this my Last Will and Testament, and I do hereby revoke any and all prior wills and codicils heretofore made by me. ITEM I. I hereby direct my Executor to pay all expenses of my last illness, funeral and administration of my estate and all of my just debts which may be probated, registered and allowed against my estate, as soon as may conveniently be done. ITEM II. I do hereby constitute and appoint my son-in-law, _____________, of ___________, as Executor of this my Last Will and Testament, and I hereby direct that no bond be required of said Executor, and I further waive the necessity of having a formal appraisement made of my estate or accounting to any court. I hereby expressly give and grant unto my said Executor all the rights, powers and discretions herein given to him as Trustee of the trust estates hereinafter created. ITEM III. I hereby give and bequeath my New York Life annuity to my four children, _______________________, _______________________, _______________________ and _______________________, share and share alike, per stirpes. ITEM IV. I hereby give, devise and bequeath to my beloved wife, if she should survive me,.the variable rate annuity with __________________. I have a $00.00 life insurance policy and direct that this policy be used to pay my burial expenses, which expenses shall be jointly approved by my wife and my Executor. To the extent that any amount of the $00.00 life insurance policy proceeds remain after payment of my burial expenses, then I give, devise and bequeath said excess amount to my wife. ITEM V. I hereby give, devise and bequeath one automobile to my wife, if she should survive me, and direct my Executor to sell any other vehicles owned by me at the time of my death. ITEM VI. - 1 - I hereby give, devise and bequeath to my son, _______________________, my antique marble top chest. ITEM VII. I hereby give, devise and bequeath to my daughter, _______________________, my antique upright tall desk. VIII. I direct my Executor to pay out of my residuary estate all federal and state estate, inheritance, successor, transfer, or other death taxes which are assessed against my estate or against any beneficiary. IX. If my said wife shall survive me, I devise and bequeath property equal in value to $00.00 to __________________., in trust, for the following uses and purposes and upon the following terms and conditions: A. The determination as to what property of my estate shall constitute this devise and bequest shall be left to the sole discretion of the Executor. No assets shall be included within this devise and bequest which do not qualify for marital deduc tion and my home and household furnishings shall not be included. B. The Trustee shall pay all of the net income to my wife in convenient installments periodically, at least as often as annually, during her lifetime. C. The Trustee shall have full power and authority to invest and reinvest the principal of the trust in such manner and upon such terms and conditions as the Trustee may see fit, notwithstanding any legal or statutory requirements as to invest ments by Trustees and with express authority to invest funds in a common trust fund established by the Trustee pursuant to the Uniform Common Trust Fund Act of _______________________; to sell, exchange, pledge, mortgage, hypothecate or otherwise dispose of any proper ty, real or personal, originally or subsequently acquired; to retain and hold in unchanged form any property, real or personal, coming into his hands; to rent or lease any of the properties embraced within the trust, upon such terms and conditions as the Trustee deems advisable; to make all determinations respecting division, allotments and distributions of income and principal to the beneficiary; to pay taxes of every kind existing against the trust property; to employ such agents and attorneys as are usual and necessary; to hold investments in the name of a nominee; and to do all other acts which, in the judgment of the Trustee, may be necessary or appropriate for the proper and advantageous management, investment and distribution of the trust estate to the same extent as though he were the sole owner of the trust property. The Trustee shall not be held responsible for loss occurring where he has exercised good faith and reasonable diligence. No purchaser, mortgagor or other person, firm or corporation need see to the application of funds paid or advanced to the Trustee in connection with the business or purposes of the trust, but the receipt of the Trustee therefor shall be a com plete acquittance and discharge. The Trustee may permit trust funds to remain temporarily uninvested, or in his discretion, to place on time deposit in a savings account in an - 2 - FDIC insured bank, cash funds coming into his hands which the Trustee deems it desirable to accumulate for use at a given time in the future in connection with the administration of the trust. D. Neither the principal nor the income of the trust fund, nor any part of same, shall be liable for the debts of my said wife, or for my children hereinafter mentioned, nor shall the same be subject to seizure by any creditor of my said wife or children, and they shall not have any power to sell, assign, transfer, convey, encumber, or in any manner to anticipate or dispose of their interests in the trust fund, or any part of same, or the income produced from said fund, or any part of same. E. My wife shall have the power to require my Trustee to either make property held in trust under the article productive for income or to convert the same into productive property within a reasonable period of time. F. Upon the death of my said wife, my Trustee shall pay to the Executor of my wife's estate all income accrued but undistri buted at the date of my wife's death and further to pay to the Executor of my wife's estate, out of the principal of the trust, as amount equal to the estate or other death taxes, federal and state, payable by reason of inclusion of the inclusion of part or all of the trust property in her estate. Such payments shall be equal to the amount by which (1) the total of such death taxes paid by my wife's estate exceeds (2) the total death taxes which would have been payable if such part or all of the trust property had not been included in her estate. The determination by my Trustee of the amount payable hereunder shall be final. G. My Executor shall be authorized in his sole discretion to determine whether to elect (under Section 2056(b)(7) of the Internal Revenue Code of 1986, as amended, or any corresponding provision of state law) to qualify all or a specific portion of the trust created in this article of my will for the federal and state estate tax marital deduction. I suggest, but do not direct, that in exercising such discretion my Executor attempt to eliminate the federal and state estate, inheritance or other death taxes payable by my estate at the time of my death. While also considering the effect of their election upon the federal and state estate, inheritance or other death taxes which will be payable by my said wife's estate at her death, particularly if she dies before this election must be paid. The decision of my Executor with respect to the exercise of the election shall be final and conclusive upon all persons whose interest in my estate are directly or indirectly affected by the election. H. Upon the death of my wife, the entire remaining corpus in the trust shall be conveyed, transferred, assigned, delivered and paid over to my four children, _______________________, _______________________, _______________________, and _______________________, share and share alike, or their issue, per stirpes. The judgment of the Trustee concerning what property shall go to which child (or his or her issue), and the value of same, shall be final. I. This is a private trust, and the Trustee shall not be required to obtain the order or approval of any court for the exercise of any power or discretion herein given. The Trustee shall not be required to return to any court any periodic formal accounting of his administration of the trust, but said Trustee shall render annual accounts to my said wife. No person paying money or delivering property to the Trustee shall be required to see to its application. Bond shall not be required of the Trustee. - 3 - J. The Trustee may resign at any time by giving written notice to the beneficiaries entitled to participate in the trust at the time of said resignation, specifying in said notice the effective date of such resignation. In the event of the death, disability or inability of _________________ to serve as Trustee of the two trusts set out herein, then _______________________ is appointed as successor-Trustee. The successor-Trustee shall have the same title, powers and discretion herein given the original Trustee. ITEM X. If my said wife, _______________________, shall survive me, I devise and bequeath all the rest, residue and remainder of the property comprising my estate, of whatsoever kind and whereso ever situated or located, to ___________,, in trust, for the following uses and purposes and upon the following terms and conditions: A. My home and household furnishings, which are a part of this trust, shall be used by my wife for her home until her death, her remarriage, or her moving from the premises to another location, whichever event happens first. Then, in such event, my Trustee is hereby directed and empowered to take possession of the house and household furnishings and to sell or utilize said house and household furnishings, in his sole discretion, for the benefit of my four children, or their issue, per stirpes. The house shall remain insured for its value and the Trustee shall be provided a certificate of insurance and no permanent improvements shall be made to the house without the consent of the Trustee. B. If the total income of my wife, _______________________, is in the sole discretion of the Trustee less than $00.00 a month, after taking into consideration her social security benefits and income from the marital trust hereinabove established, then said Trustee is directed to pay out of the income of this trust an amount to my wife that would bring her income to $00.00 a month from the sources herein named in order that she be able to main tain the home and pay necessary taxes, utilities and insurance on the home. This payment is to cease being paid to her in the event of her remarriage. C. My Trustee is directed to pay out of any income generat ed from this trust in excess of the monies needed to pay my wife as set out in paragraph "B" above, to my four children, _______________________, _______________________, _______________________ and _______________________, share and share alike, or their issue, per stirpes. The Trustee may make these payments annually if funds available. D. The Trustee shall have full power and authority to invest and reinvest the principal of the trust in such manner and upon such terms and conditions as the Trustee may see fit, notwithstanding any legal or statutory requirements as to invest ments by Trustees and with express authority to invest funds in a common trust fund established by the Trustee pursuant to the Uniform Common Trust Fund Act of _______________________; to sell, exchange, pledge, mortgage, hypothecate or otherwise dispose of any proper ty, real or personal, originally or subsequently acquired; to retain and hold in unchanged form any property, real or personal, coming into his hands; to rent or lease any of the properties embraced within the trust, upon such terms and conditions as the Trustee deems advisable; to make all determinations respecting division, allotments and distributions of income and principal to the beneficiary; to pay taxes of - 4 - every kind existing against the trust property; to employ such agents and attorneys as are usual and necessary; to hold investments in the name of a nominee; and to do all other acts which, in the judgment of the Trustee, may be necessary or appropriate for the proper and advantageous management, investment and distribution of the trust estate to the same extent as though he were the sole owner of the trust property. The Trustee shall not be held responsible for loss occurring where he has exercised good faith and reasonable diligence. No purchaser, mortgagor or other person, firm or corporation need see to the application of funds paid or advanced to the Trustee in connection with the business or purposes of the trust, but the receipt of the Trustee therefor shall be a com plete acquittance and discharge. The Trustee may permit trust funds to remain temporarily uninvested, or in his discretion, to place on time deposit in a savings account in an FDIC insured bank, cash funds coming into his hands which the Trustee deems it desirable to accumulate for use at a given time in the future in connection 'with the administration of the trust. E. Upon the death or remarriage of my said wife, the entire remaining corpus and all accrued income remaining in the trust shall be conveyed, transferred, assigned, delivered, and paid over to my four children: _______________________, _______________________, _______________________ and _______________________, share and share alike, or their issue, per stirpes. The judgment of the Trustee concerning what property shall go to which child (or his or her issue), and the value of same, shall be final. F. The Trustee may resign at any time by giving written notice to the beneficiaries entitled to participate in the trust at the time of said resignation, specifying in said notice the effective date of such resignation. In the event of the death, disability or inability of _______________ to serve as Trustee of the two trusts set out herein, then ________________ is appointed as successor-Trustee. The successor-Trustee shall have the same title, powers and discretion herein given the original Trustee. ITEM XI. In the event my said wife, _______________________, predeceases me, I hereby devise and bequeath all of my property, of whatsoever kind or character and wheresoever situated, to my four children, _______________________, _______________________, _______________________ and _______________________, share and share alike, or their issue, per stirpes. ITEM XII. It is my desire to be buried in ____________ Cemetery in ____, _____________. ITEM XIII. In the event that both my said wife and I should die in a common accident or under such circumstances that it cannot be determined which of us is the survivor, I hereby declare that she shall be deemed to have survived me, and this Will and all of its provisions shall be construed upon that assumption. IN WITNESS WHEREOF, I hereunto subscribe my name on this, the _____ day of - 5 - __________________, 20___. Add signature and attestation clauses - 6 -