LAST WILL AND TESTAMENT
OF
______________
I, ______________ , an adult resident citizen of ______________ , ______________ County,
Montana, being of sound and disposing mind and memory, do hereby make, publish and declare this to
be my Last Will and Testament, hereby revoking any and all other wills and codicils heretofore made by
me.
ITEM I.
My wife's name is ______________ , and she is sometimes referred to herein as "my Spouse". I
have ______________ children now living and they are: ______________
They are herein referred to individually as "my Child" and collectively as "my Children." In the
event I have a Child or Children born subsequent to the date of execution of this Will, I direct that each
such Child and his or her descendants shall share in my estate to the same extent as provided for my
Children herein named.
ITEM II.
I appoint my Spouse as Executrix of my Estate under this Will. I direct my Executrix to pay all of
my just debts and obligations which may be probated, registered and allowed against my estate as soon
as may be conveniently done. For convenience, the Executrix shall be referred to herein as "Executor."
ITEM III.
I hereby direct my Executor to pay all "death taxes" out of the property devised and bequeathed to
THE ______________ FAMILY TRUST established under the provisions of Item IX of this Will, to
the extent the assets of said trust are sufficient to pay the death taxes. In the event the assets of THE
______________ FAMILY TRUST are not sufficient to pay all death taxes, my residuary estate should
be used to pay such taxes to the extent they are in excess of the assets in the trust. For purposes of this
provision, "death taxes" shall mean all estate, inheritance, succession, transfer, legacy and similar death
taxes, including any excise tax which is imposed on my estate pursuant to Section 4980A of the Internal
Revenue Code of 1986, as amended, excluding generation-skipping transfer taxes which are levied or
assessed by reason of my death by any governmental authority, domestic or foreign, with respect to any
property, whether that property passes under or apart from this Will.
I specifically authorize and direct my Executor, if my Executor deems it in the best interest of my
estate and my beneficiaries to request reimbursement of any such death taxes under the provisions of
Section 2207A of the Internal Revenue Code of 1986, as amended, and any similar provision of Montana
law or any other law from any qualified terminal interest property (as defined in Section 2056(b)(7) of
the Internal Revenue Code of 1986, as amended) included in my estate for purposes of such death taxes.
ITEM IV.
I devise and bequeath to my Spouse, if she survives me, any interest I may own in our residence
which is occupied by us as a family home, subject to any indebtedness that may be against our home at
my death. If my Spouse shall not survive me, I devise and bequeath my interest in our home to THE
______________ FAMILY TRUST created by the provisions of Item IX of this Will, to be held,
administered and disposed of in accordance with the terms of that trust.
ITEM V.
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I give and bequeath to my Spouse, if she survives me, my automobiles, clothing, books, jewelry,
sport equipment and other personal effects owned by me at the time of my death. If my Spouse does not
survive me, I bequeath these items of personal property as set forth below.
I direct my Executor to divide all such property into two (2) parts, the first of which shall contain
so much of such property as my Executor shall determine that I would wish to have preserved for my
Children, and the second of which shall contain the balance of such property. I give the first of such parts
to such of my Children as survive me, to be divided among them as they may agree, or in the absence of
such agreement or if one or more of my Children is a minor, as my Executor shall determine. I direct my
Executor to dispose of the second portion of such property by sale or otherwise as my Executor shall
determine. The proceeds of any such sale shall be distributed in accordance with the provisions of Item
IX of this Will. Any determination or division of property made or other action taken by my Executor
pursuant to the provisions of this Item shall be conclusive upon all persons interested in my estate. If one
or more of my Children is a minor at the time this property is to be distributed, my Executor shall
distribute the property to the guardian of the minor to hold for the minor until he or she attains age
twenty-one (21).
ITEM VI.
I give and bequeath all my household furniture, furnishings, ornamental decorations, silverware,
china, pictures, linen, glassware and the like located in my home to my Spouse. If my Spouse does not
survive me, I bequeath these items to my Children in equal shares, per stirpes. I may leave a separate
memorandum containing directions for the specific disposition to be made of certain of the assets
bequeathed under this Item. In such event, the provisions of that memorandum shall be given the same
legal effect as if included in this Will and the assets described therein shall be distributed to the named
beneficiaries.
ITEM VII.
A. In the event I am survived by my Spouse, after the payment of any debts, obligations and
expenses of my estate, I devise and bequeath to ______________ , as Trustee of THE ______________
FAMILY TRUST, provided for in Item IX of this Will, an amount equal to the largest amount that can
pass free of federal estate tax (other than any excise tax which is imposed on my estate pursuant to
Section 4980A of the Internal Revenue Code of 1986, as amended) under this Item by reason of the
unified credit and the credit for state death taxes allowable to my estate but no other credit and after
taking account of dispositions under previous Items of this Will and the property passing outside my Will
which do not qualify for the marital or charitable deduction, and after taking account of charges to
principal that are not allowed as deductions in computing my federal estate tax. The value as finally fixed
in the federal estate tax proceeding relating to my estate shall be used for purposes of such valuations and
determinations. It is my intention to convey by this bequest the maximum portion of my estate which, at
the time of my death, is exempt from the federal transfer tax because of the application of the unified
credit and the credit for state death taxes. However, notwithstanding any provision herein to the contrary,
in determining this pecuniary amount, the credit for state death taxes shall be considered only to the
extent state death taxes are not thereby incurred or increased. I recognize that no sum may be disposed of
by this Item and that the funds so disposed of may be affected by the actions of my Executor in
exercising certain tax elections. Any property included in my estate at the time of my death and assigned
or conveyed in kind to satisfy this bequest shall be valued for that purpose at the value thereof as of the
date or dates of distribution.
B. In the event I am not survived by my Spouse, these assets shall be distributed as part of
my residuary estate.
ITEM VIII.
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A. I give, devise and bequeath to my Spouse, if she survives me, all the rest and residue of
my estate. In satisfying this bequest, my Executor shall select and distribute to my Spouse, cash,
securities or such other assets as my Executor may determine, using asset values current at the date or
dates of distribution.
B. If my Spouse shall not survive me, then I devise and bequeath the residue of my estate to
THE ______________ FAMILY TRUST created by the provisions of Item IX of this Will to be held,
administered and disposed of in accordance with the terms of that trust.
C. My Spouse shall have the right to disclaim all or any part of her interest in any property
which I have devised or bequeathed to her, whether outright or in trust, provided she shall do so within
the time period required for the disclaimer to qualify under Section 2518 of the Internal Revenue Code of
1986, as amended, or corresponding provision of any future law. Any such disclaimers should be made in
writing, clearly stating the portion or assets disclaimed, and shall be timely filed in the Court in which
my estate is being probated. If my Spouse disclaims in whole or in part, the property in which she
disclaims her interest shall be held, administered and distributed and disposed of in accordance with the
terms of THE ______________ FAMILY TRUST established in Item IX below.
ITEM IX.
The assets conveyed to THE ______________ FAMILY TRUST hereof, reduced by death taxes
as provided in Item III hereof, shall be held by ______________ , as Trustee, under the terms hereafter set
forth, for the benefit of my Spouse and my Children. The Trustee shall hold, administer and distribute the
funds of this trust under the following provisions:
A. The Trustee shall distribute to or for the benefit of my Spouse and Children (but not
necessarily in equal shares) as much of the net income as the Trustee deems advisable for the education,
support, maintenance and health of any of the beneficiaries; for the maintenance of their accustomed
standard of living; or for any medical, hospital or other institutional care which any beneficiary may
require. These distributions shall be made in such proportions, amounts, and intervals as the Trustee
determines. Any income not distributed shall be added to principal and shall be distributed in accordance
with the provisions of this Item.
B. In addition to the income distributions, the Trustee may pay to or for the benefit of my
Spouse and Children (but not necessarily in equal shares) as much principal as the Trustee deems
advisable for the education, support, maintenance and health of any of the beneficiaries; for the
maintenance of their accustomed standard of living; or for any medical, hospital or other institutional
care which any beneficiary may require. In making principal distributions, the Trustee shall consider the
needs of the beneficiaries and the funds available to them from other sources.
In making distributions of income and principal, I direct the Trustee to consider my Spouse as the
primary beneficiary of this trust and to consider her needs above those of my Children. If possible, the
Trustee shall see that my Spouse has sufficient funds to enable her to continue her accustomed standard
of living. Before making distributions of income or principal to my Children, the Trustee shall counsel
with my Spouse to determine the needs of the beneficiaries.
In making expenditures of income and principal to or for the benefit of my Children, while it is my
desire that my Children be treated impartially and without favoritism, nevertheless realizing that their
needs may vary, I specifically direct that the Trustee need not treat them with equality. The Trustee shall
be impartially guided by the needs of each of my Children as those needs present themselves. Insofar as
practicable, the Trustee shall afford to each of my Children funds necessary to satisfy those needs. I give
this broad discretion to the Trustee so Trustee may act at all times in the best interest of all of my
Children as Trustee may, in Trustee's discretion, deem advisable. In no event shall income or principal be
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distributed to a beneficiary for a purpose that may be deemed a distribution in satisfaction of the Spouse's
legal obligation to support that beneficiary.
C. Upon the death of my Spouse, the Trustee shall divide the assets of this trust into equal
and separate shares, one share for each of my then living Children, and one share for each Child of mine
who is then deceased but who is survived by children. Each share for my living Children shall be
distributed outright to them free and clear of the trust. Each share for a deceased Child who is survived
by children shall be held in equal shares for the surviving children of the deceased Child as a separate
trust and the Trustee shall hold, administer and distribute the funds of each trust under the following
provisions:
1. The Trustee shall distribute to or for the benefit of the beneficiary of each trust as
much of the net income of the trust as the Trustee deems advisable for the education, support,
maintenance and health of a beneficiary; for the maintenance of their accustomed standard of living; or
for any medical, hospital or other institutional care which any beneficiary may require. These
distributions shall be made in such proportions, amounts and intervals as the Trustee determines. Any
income not distributed shall be added to principal and shall be distributed in accordance with provisions
of this Item.
2. In addition to the net income, the Trustee may distribute to or for the benefit of a
beneficiary, as much principal of that beneficiary's trust as the Trustee deems advisable for the
beneficiary's education, support, maintenance and health. In making distributions of principal, the Trustee
shall consider the needs of each beneficiary and the funds available to each of them from other sources.
3. As and when a beneficiary of a trust attains the age of twenty-five (25) years, the
Trustee shall distribute to that beneficiary one-third (1/3) of that beneficiary's trust estate at that date. As
and when a beneficiary of a trust attains the age of thirty (30) years, the Trustee shall distribute to that
beneficiary one-half (1/2) of the balance of that beneficiary's trust estate at that date. Thereafter, when
such beneficiary attains the age of thirty-five (35) years, the Trustee shall distribute to such beneficiary
the remainder of that beneficiary's trust estate, free and clear of any trust. Upon distribution of the entire
trust estate to the beneficiary of each trust, the trust shall terminate.
4. In the event of the death of one or more of my Children after the division of this trust
into separate trusts and prior to receipt by that Child of his or her entire trust estate, the balance in the
trust of such deceased Child shall be retained in trust for the benefit of that deceased Child's then living
children in accordance with the provisions of 1-3 above.
5. If at the death of a Child of mine he or she leaves no surviving children, that
deceased Child's trust estate shall be distributed in equal shares, one share to each of the trusts created for
my other Children to be administered and disposed of in accordance with the provisions of this Item IX
D. The Trustee shall permit any beneficiary to elect, at the time that beneficiary's trust is to
be distributed to him or her, to have such trust continue for the balance of that beneficiary's life or until
such time as that beneficiary shall request that the trust estate, or any part thereof, be distributed. In
addition, any of the beneficiaries may voluntarily convey other property to his or her trust to be held and
administered as a part of that trust. Such extended trust shall be held and administered as follows:
1 . During the existence of any trust so extended, the Trustee shall pay or apply the
entire net income, at least quarterly, to or for the benefit of the beneficiary who elected to have his or her
trust continued. At any time, and from time to time, during the life of that beneficiary, the principal of the
trust shall be distributed as the beneficiary shall direct by written notice to the Trustee. If at any time that
beneficiary is incapable of requesting distributions of principal, the Trustee in its sole discretion shall
distribute principal to, or for the benefit of, the beneficiary for his or her maintenance, health, comfort
and support.
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2. Upon the death of the beneficiary during the existence of this extended trust, the
Trustee shall pay over and distribute the balance of the principal of the trust, as then constituted, to or for
the benefit of such person or persons and/or the beneficiary's estate in such amounts or proportions, and
in such interests or estates, either absolutely or in trust, as that beneficiary may appoint by his or her Last
Will and Testament duly admitted to probate within three hundred sixty-five (365) days after the
beneficiary's death. The appointment provision in the beneficiary's Will shall clearly provide that he or
she is exercising this right to dispose of the trust estate. If the beneficiary makes no appointment by his or
her Will, upon the death of the beneficiary, the Trustee shall pay over and distribute any balance of the
beneficiary's trust not so appointed, absolutely and free of trust, in equal shares and per stirpes, to the
beneficiary's then living children or, if the beneficiary shall have no surviving children, to a beneficiary
who survives the beneficiary. However, if any portion of the trust principal is to be distributed as
aforesaid to a beneficiary for whom a trust created in this Will is then in existence, such distribution shall
not be made directly to that beneficiary, but shall be added to that beneficiary's trust to be held,
administered and distributed as a part of that trust.
E. None of the principal or income of this trust shall be liable for the debts or obligations of
any beneficiary or be subject to seizure by creditors of any beneficiary. The beneficiaries have no power
to sell, assign, transfer, encumber or in any manner to anticipate or dispose of any part of their interest in
the trust funds or the income produced from the funds.
F. In the event all of the persons and classes designated as beneficiaries of this trust die
prior to the distribution of all trust assets, upon death of the survivor of them, the assets, after payment of
all taxes, expenses and debts related to the trust assets, shall be distributed one-half (1/2) to my heirs at
law and one-half (1/2) to the heirs at law of my Spouse, in accordance with the intestacy laws of the State
of Montana then in force, as if our deaths had occurred at such time.
G. This trust shall be designated and known as THE ______________ FAMILY TRUST.
ITEM X
Any beneficiary shall have the right to disclaim all or any part of his or her interest in any property
which I have devised or bequeathed to him or her under this Will, whether outright or in trust, provided
he or she shall do so within the time period required for the disclaimer to qualify under Section 2518 of
the Internal Revenue Code of 1986, as amended, or corresponding provisions of any future law. Any such
disclaimer shall be made in writing, clearly stating the portion or assets disclaimed, and shall be timely
filed in the Court in which my estate is being probated. Except as otherwise provided herein, if a
beneficiary disclaims in whole or in part, the property in which he or she disclaims his or her interest
shall be disposed of in accordance with the provisions of this Will as if such beneficiary had predeceased
me.
ITEM XI.
A. Unless otherwise provided herein, the terms "trust" and "trusts" may be used
interchangeably and shall mean all trusts created by this Will.
B. Any trust created by this Will is a private trust. The Trustee shall not be required to
obtain the order or approval of any court for the exercise of the Trustee's powers and discretions. The
income of any trust created by this Will shall accrue from the date of my death. During the administration
of my estate and until the trust is established and activated, I authorize the Trustee to request of my
Executor, in which case my Executor shall comply with that request, to pay at least annually out of my
estate advanced payments of income to the income beneficiaries of the trust. These payments shall be an
amount which, in the joint judgment of the Trustee and the Executor, equals the trust income which the
beneficiaries would have received had the trust been established and activated.
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C. The Trustee shall not be required to make physical division of the properties of any trust
created herein, except where necessary, but may keep the trusts in one (or more) consolidated fund. The
Trustee shall maintain books of account containing accurate records of separate principal, income and
expense of each trust.
ITEM XII.
A. In making distributions to beneficiaries from a trust created under this Will, and
especially where the beneficiaries are minors or incapable of transacting business due to incapacity or
illness, the Trustee, in the Trustee's discretion, may make payments either (a) directly to the beneficiary,
(b) to the legal or natural guardian of the beneficiary, (c) to a relative or guardian of the person of the
beneficiary who has custody and care of the beneficiary, or (d) by applying the payments for the benefit
of the beneficiary by paying expenses directly. In any event, the Trustee shall require such reports and
take such steps as the Trustee deems necessary to assure and enforce the application of such payments for
the exclusive benefit of tile beneficiary.
B. If at any time in following the directions of this Will the Trustee is required to distribute
all or any part of the principal of a trust created herein outright to a person who is a minor, the Trustee is
directed to continue to hold the share of the minor in trust for that minors benefit until the minor attains
age twenty-one (21). Until distribution is made, the Trustee is directed to expend such part of the income
and/or principal of the share belonging to that minor as the Trustee, in the Trustee's discretion, deems
necessary to provide for the proper education, support, maintenance and health of the minor.
C. The interest of every beneficiary of any trust created herein shall vest within the period
prescribed by the Rule against Perpetuities. Upon vesting, any trust property held by the Trustee shall be
distributed to the current income beneficiary or beneficiaries of the trust property (or to his or her legal
guardian or other personal representative) as though such income beneficiary had reached the age at
which final distribution was required.
ITEM XIII.
A. No Trustee shall be required to enter into any bond as Trustee or to file with any court
any periodic or formal accounting of the administration of any trust. The Trustee shall render annual
accounts to each of the beneficiaries of any trust (or his or her guardian if a beneficiary is a minor). No
persons paying money or delivering property to the Trustee shall be required to see to its application.
B. The Trustee may resign at any time by giving each of the beneficiaries of the Trust (or
his or her guardian) written notice specifying the effective date of such resignation. The notice may be
sent by personal delivery or by registered mail. My Spouse may demand the resignation of the Trustee
during her lifetime. Following the death or incapacity of my Spouse, the Trustee's resignation may be
demanded by a majority of the adult beneficiaries of the trust.
C. If the Trustee dies, resigns or becomes unable to serve, regardless of the cause, the
successor Trustee shall be ______________ . If ______________ is not living or otherwise is unable to
serve or resigns, the successor Trustee shall be appointed by my Spouse, if living, or if she is not living
or does not otherwise appoint a successor Trustee, the successor Trustee shall be appointed by a majority
of the adult beneficiaries of the Trust.
D. The resignation of the Trustee shall become effective upon the qualification of the
successor Trustee and submission of a full accounting by the resigning Trustee; however, the successor
Trustee and the beneficiaries may agree to waive a final accounting by the Trustee being replaced.
E. Any successor Trustee shall be vested with all the rights, powers, duties and discretions
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conferred upon the original Trustee.
F. Any bank or financial institution serving as Trustee shall receive reasonable
compensation for its services based on its regular compensation schedule for administering trusts of this
size and type. Any individual serving as Trustee shall receive reasonable compensation based upon the
then current hourly rates being charged in my place of Residence, for services comparable to those being
rendered by the individual Trustee.
G. Unless otherwise provided, in referring to the Trustee, any masculine terminology also
includes the feminine and neuter or vice versa and any reference in the singular shall also include the
plural or vice versa.
ITEM XIV.
Unless otherwise provided, the administration of any trust herein created, the sale and conveyance
of trust assets, the investment and reinvestment of trust assets, and the rights, powers, duties and
liabilities of the Trustee shall be governed by the terms and provisions of the Uniform Trustees' Powers
Law of Montana, as amended. In addition to the powers contained in that Law, and the power to make
"legal investments" under Montana law, the Trustee shall have full power and authority:
A. To invest or reinvest the funds belonging to the Trust Estate in units of any common
trust fund or mutual fund, or any other securities issued by corporate Trustee, or in such common or
preferred stock or bonds, or other securities, whether listed or unlisted, or properties (real or personal),
without being restricted to statutory investments, and to hold any investment belonging to the Trust
Estate in bearer form or to register and hold any such investment in the name of the duly authorized
nominee of the Trustee.
B. To receive additional property conveyed to the trust by any person, and to administer and
dispose of the property in accordance with the terms of the trust.
C. To distribute income of the trust in cash or in kind. In making distributions or both
principal and income, the Trustee may make a non pro rata distribution of property in kind. The judgment
of the Trustee concerning values and purposes of such division or distribution of the property or
securities held in the trust shall be binding and conclusive on all interested parties. In making a division
or distribution, the Trustee is specifically excused from a duty of impartiality with respect to the income
tax basis of the property distributed. The Trustee may select assets to be allocated or distributed without
regard to the income tax basis of the property.
D. To sell, transfer, convey, mortgage, lease and dispose of the trust property upon such
terms and in such manner and for such prices as the Trustee shall deem proper, and any lease or other
instrument which is executed by the Trustee shall continue in full force and effect under its terms,
notwithstanding the termination of the trust.
E. To determine the allocation of receipts and expenses between income and principal.
However, such allocation shall not be inconsistent with the beneficial enjoyment of trust property
accorded to a life tenant or remainderman under the general principles of the law of trusts. Further, all
rights to subscribe to new or additional stocks or securities and all liquidating dividends shall be deemed
to be principal.
F. To invest funds in a common fund established by the Trustee pursuant to the Uniform
Common Trust Fund Act of Montana, if enacted.
G. To merge and consolidate the assets of this trust with another trust. If at the time of my
death the Trustee herein named shall then be serving as Trustee of another trust created by me during my
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lifetime or by the terms of the Will of my Spouse, and if the beneficiaries are the same and the terms of
that other trust are substantially similar to the trust created herein, the Trustee shall administer the two
trusts as one if such consolidation shall result in more effective and efficient management of the two
trusts.
H. To divide any trust established by this instrument, at any time, without court approval,
into two or more separate trusts so that after such division the generation-skipping transfer tax inclusion
ratio as defined in Section 2642(a) of the Internal Revenue Code of 1986, as amended, with respect to
each trust shall be either zero or one. Any such separate trust shall have provisions identical to the trust
so divided. If the trust is divided into separate trusts, the Trustee may (1) make different tax elections
with respect to each such separate trust, (2) expend principal and exercise or not exercise any other
discretionary powers with respect to each such separate trust differently, (3) invest the property of each
such separate trust differently, and (4) take all other actions consistent with each such trust being a
separate entity. Further, the person holding any power of appointment with respect to a trust so divided
may exercise such power differently with respect to the separate trusts created by the division.
I. To receive and retain all types of property and especially to receive and retain shares of
stock in closely-held corporations and non-income producing real estate regardless of where it may be
situated, without liability and without regard to the proportion such property or property of a similar
character so held may bear to the entire amount of the trust estate and whether or not such property is of
the class in which trustees generally are authorized to invest by law.
J. To carry out agreements made by me during my lifetime, including the consummation of
any agreements relating to the capital stock of corporations owned by me at the time of my death, and
including the continuation of any partnership of which I may be a member at the time of my death
whether the terms of the partnership agreement obligate my estate or my personal representative to
continue my interest therein, and to enter into agreements for the rearrangement or alteration of my
interests or obligations under any such agreements in effect at the time of my death.
K. To borrow money to pay taxes; to exercise subscriptions, rights and options; to pay
assessments; to accomplish any other purpose of any nature incidental to the administration of the trust,
and to pledge any securities or other property held by it as security for such loan.
L. To execute and deliver oil, gas and other mineral leases containing such unitization or
pooling agreements and other provisions as the Trustee deems advisable; to execute mineral and royalty
conveyances; to purchase leases, royalties and any type of mineral interests; to own, hold, acquire and
dispose of working interest and royalty interest in properties held in the trust and to expend funds of the
trust necessary with respect to the ownership of such interest; to execute and deliver drilling contracts and
other contracts, options and other instruments necessary or desirable in engaging actively in the oil, gas
or other mining business; all of the foregoing to be done with such terms, conditions, agreements,
covenants, provisions or undertakings as the Trustee deems advisable.
M. To manage any farm property, including the authority to plant and harvest crops; to
breed, raise, purchase and sell equipment and farm produce of all kinds; to make improvements; to
construct, repair or demolish any buildings; to engage agents, managers and employees and delegate
powers to them; to set up reasonable reserves for depreciation out of income to replace improvements and
equipment; to fertilize and improve the soil; to engage in the growing, improvement and sale of trees and
other forest crops; and to perform any other acts deemed necessary or desirable to operate the farm
property.
N. To terminate any trust if the Trustee, in its sole discretion, determines the assets of the
trust are of such small value that the continued existence and operation of the trust is not in the best
interest of the beneficiaries. This power shall be exercisable only if the income beneficiaries and the
remainder beneficiaries are the same and have the same interest in the trust. Upon termination, the
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Trustee shall distribute the assets of the wig to the beneficiaries in the beneficiaries' proportionate share.
ITEM XV.
If my Spouse and I die simultaneously, or under circumstances which make it difficult to
determine which of us died first, I direct that my Spouse be deemed to have survived me for purposes of
this Will. I direct that the provisions of this Will be construed upon that assumption, irrespective of any
provisions of law establishing a contrary presumption or requiring survivorship as a condition of taking
property by inheritance.
ITEM XVI.
A. In the event my Spouse is or becomes unable or unwilling to serve as my Executor, I
appoint ______________ , to serve as my successor Executor. All rights, powers, duties and discretions
granted to or imposed upon my Executor shall be exercisable by and imposed upon any successor
Executor or Administrator. Where used throughout this Will, the terms "Executor," "Executrix" and
"Administrator" may be used interchangeably and shall apply to whoever may be serving as personal
representative of my estate, whether one or more than one.
B. I direct that neither my Executor nor any successor Executor shall be required to make
any bond as Executor. To the extent permissible by law, I waive the requirement that my Executor or any
successor Executor be required to make a formal appraisal, provide an inventory or file an accounting for
my estate with any court.
C. My Executor shall have discretion to select property to be distributed in satisfaction of
any devise or bequest provided in this Will without respect to the income tax basis of the property. In
making a selection, my Executor is excused from any duty of impartiality with respect to the income tax
basis of the property.
My Executor may satisfy any pecuniary bequest provided in this Will in cash or in kind or partly
in cash and partly in kind; however, any asset distributed in kind shall be valued at its date of distribution
value.
D. No person dealing with my Executor shall be obligated to see to the application of any
moneys, securities, or other property paid or delivered to my Executor, or to inquire into the expediency
or propriety of any transaction or the authority of my Executor to enter into and consummate the
transaction upon such terms as my Executor may deem advisable.
E. My Executor shall have the power to disclaim any part or all of my interest in any
property which is or has been devised or bequeathed to me, whether outright or in trust, provided such
disclaimer is made within the time period required for the disclaimer to qualify under Section 2518 of the
Internal Revenue Code of 1986, as amended, or corresponding provisions of any future law.
F. In order to avoid depreciation in value of the interests or losses to my estate or my
business associates, my Executor shall have authority to continue any business operations in which I am
engaged at my death for the time permitted by law. My Executor may continue to act as a partner, engage
in any partnership, and take all actions with regard to any partnership my Executor deems advisable.
G. I specifically authorize my Executor to borrow such funds as may be necessary to pay
my debts, administration expenses, and taxes of my estate; and to pledge such of my property, real or
personal, as may be necessary to secure such loan. However, my Executor shall not pledge any property
specifically devised or bequeathed herein. My Executor shall not be required to pay or otherwise satisfy
such loan prior to the closing of my estate and the discharge of my Executor, but in satisfaction of any
bequest herein, my Executor may distribute such property at its value net of such loan.
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H. My Executor shall not be required to reduce any or all of my personal or real property to
cash during the administration of my estate, but in my Executor's discretion may sell only so much of my
property as is necessary to obtain cash to pay taxes, debts and costs of the administration of my estate.
After the payment of debts, taxes and costs, in the sole discretion of my Executor, my Executor is
authorized to make distributions to devisees and legatees either in cash or in kind or a combination of
each.
I. My Executor shall take all actions necessary to comply with any agreements made by me
during my lifetime, including the consummation of any agreements relating to the stock of corporations
in which I am a stockholder at the time of my death, and including the continuation of any partnership of
which I may be a partner at the time of my death whenever the terms of any such agreement obligate my
estate or my personal representatives to sell or continue my interest therein.
J. I authorize my Executor to allocate my generation-skipping transfer tax exemption to and
among dispositions of property with respect to which I am the transferor, whether contained in this Will
or otherwise, in such manner as my Executor, in my Executor's sole discretion, deems best calculated to
secure the most effective utilization of such exemption, based on circumstances and events either known
or reasonably foreseeable as of the expiration of the time within which such allocation is required to be
made. While equality of treatment among different beneficiaries should be an important consideration in
allocating such exemption, it should not be the sole or even the primary consideration. Any allocation so
made by my Executor shall be binding on all persons interested in dispositions with respect to which I
am the transferor, and my Executor shall have no liability if, as the result of or in light of subsequent
events, the benefits of the exemption fall inequitably, or a different allocation would have protected a
higher value of assets from generation- skipping transfer tax.
K. I further nominate and appoint my Executor herein named to petition the proper Court
and to take all necessary action to effect an ancillary administration covering any property I may own in
any other state. I direct that no bond or other security shall be required of my Executor named herein, nor
shall my Executor be required to file an inventory or accounting with any court in any foreign
jurisdiction. If the laws of any foreign jurisdiction in which I may own property require that a resident of
that foreign jurisdiction serve as Executor or Administrator in any ancillary proceeding by my estate, my
Executor shall have the power and right to select and designate a proper party resident of the foreign
jurisdiction involved to serve with the Executor of my estate as Co-Administrators. In such event, the
Co-Administrators shall not be required to post any bond or other security or file any accounting or
inventory with any court in the foreign jurisdiction.
IN WITNESS WHEREOF , I have signed and declared this to be my Last Will and Testament on
this the ____ day of ______________ , 20 ____ .
____________________________________
Signature
Print Name: __________________________
I, ___________________________________ , having signed this Will in the presence of
_____________________________ and ________________________________ who attested it at my
request on this the _____ day of _____________, 20_____ at
____________________________________________________________(address), declare this to be
my Last Will and Testament.
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________________________________
___________________________________
Testator
The above and foregoing Will of ___________________________________ (name of testator)
was declared by ___________________________________ (name of testator) in our view and presence
to be his/her Will and was signed and subscribed by the said ___________________________________
(name of testator) in our view and presence and at his/her request and in the view and presence of
___________________________________ (name of testator) and in the view and presence of each
other, we, the undersigned, witnessed and attested the due execution of the Will of
___________________________________ (name of testator) on this the _____ day of
___________________, 20__.
Witness Signature Witness Signature
Print Name: Print Name:
Address: Address:
City, State, Zip: City, State, Zip:
Phone: Phone:
Montana Self Proving Affidavit
I, __________________________________ , the Testator/, sign my name to this instrument this
______ day of ____________ , 20 ______ and being first duly sworn, do hereby declare to the
undersigned authority that I sign and execute this instrument as my will and that I sign it willingly, that I
execute it as my free and voluntary act for the purposes therein expressed, and that I am 18 years of age
or older, of sound mind, and under no constraint or undue influence.
____________________________________
Testator
__________________________________
Typed Name
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 signs and executes this instrument as her or his Last Will and that
she or he signs it willingly, that each of us, in the presence and hearing of the Testator, hereby signs the
will as witness to the Testator’s signing, and that to the best of our knowledge the Testator is 18 years of
age or older, of sound mind, and under no constraint or undue influence.
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____________________________________
Witness
____________________________________
Witness
State of Montana
County of _______________
SUBSCRIBED, SWORN TO AND ACKNOWLEDGED before me by
__________________________________ , the Testator, and subscribed and sworn to before me by the
above-named witnesses, this ______ day of ____________ , ______ .
(SEAL) (Signed)___________________________________
__________________________________
(Official capacity of officer)
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