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Testamentary Trust of the Residue of an Estate for the Benefit of a Wife with the Trust to Continue for Benefit of Children after the Death of the Wife. Section       . Division of Residue (Number) I give the residue of my estate to       , hereinafter called the (Name of Trustee) Trustee, in trust, to be held and administered on the following terms: A. If my Wife survives me, Trustee shall pay the net income from the Trust estate to my Wife until her death. B. Trustee shall have the power in his absolute discretion to pay or apply for my Wife as much of the Trust principal as Trustee deems necessary for her support, care, and health during her lifetime. The discretion of Trustee shall be exercised liberally in favor of my Wife, it being my intention that she shall have, in addition to the necessities, a reasonable number of the luxuries of life. C. On the death of the survivor of my Wife and myself: 1. If there is then a living child of mine under       years of age, the (age) Trust shall continue, on the following terms: a. Trustee shall pay to or for my surviving children and the issue of any deceased child of mine, whether such child of mine shall predecease me or die after my death, as much of the Trust income and principal as Trustee, in Trustee's absolute discretion, determines necessary for their support, maintenance, education (including college and professional education), and health. Such payments need not be in equal amounts. Trustee may exclude any one or more of the children and issue. Payments made pursuant to this provision shall not be charged against the distributive share of any person on termination of this Trust. Any income not expended as provided in this Trust shall be accumulated and added to Trust principal. b. This Trust shall terminate on the date when there is no living child of mine under       years of age. On such termination, the Trust (age) Property, including accumulated and undisbursed income, shall vest in and be distributed to my then-living children and the issue of any deceased child, per stirpes. 2. If there is then no living child of mine under       years of age, the (age) Testamentary Trust of the Residue of an Estate Page 1 of 4 Trust property, including undisbursed income, shall vest in and be distributed to my then-living children and the issue of any deceased child, per stirpes. D. On the termination of the Trust, if there be no living issue of mine, the Trust Property and undistributed accumulated income shall vest in and be distributed to the person or persons who would be my heirs-at-law if I had survived the termination of the Trust, and then died, determined as of the date of termination and according to the laws of (name of state) then in force respecting descent and distribution of Property. Section       . (Number) SECTION       . [NUMBER OF SECTION] PROVISION IF WIFE AND CHILDREN PREDECEASE TESTATOR If neither my       nor issue of mine survive, I give all my Property [husband/Wife] to       . [names of remaindermen and their respective shares if no surviving issue of testator] Section       . Powers of Trustee. (Number) Except as otherwise provided, the following provisions shall apply to the Trust under this Will: A. In exercising the discretion granted with respect to the Trust, Trustee may take into consideration other income or other resources known by Trustee to be available to the beneficiary or beneficiaries receiving payments. Trustee may accept as final and conclusive the written statement of the beneficiary receiving payment as to other income or other resources. B. When any beneficiary entitled to receive payments is a minor, or, in the absolute judgment of Trustee, is mentally incompetent (irrespective of whether legally so adjudicated), or is physically disabled, Trustee may, in Trustee's absolute discretion, expend or apply any such payments for the benefit of the beneficiary, or, in case of a minor beneficiary, may make such payments to the parents of the beneficiary, to the person or persons with whom the beneficiary then resides, or to the legal guardian of the beneficiary. C. Income of the Trust estate actually collected but not distributed at the date of the termination of the Trust shall be payable, or credited, as income to the beneficiary or beneficiaries entitled to the next estate or interest in proportion to his, her, or their, respective interests. If, prior to the final distribution of my estate to Trustee, any part of the net income from my estate has been paid by my executor to any person or persons designated to receive any part of the Trust net income, the death of the person prior to the Testamentary Trust of the Residue of an Estate Page 2 of 4 final distribution of my estate shall not operate to confer any right to the income so paid on any beneficiary entitled to the next estate or interest. D. The proceeds from the sale or transfer (other than a leasing or letting) of any part of the Trust Property shall be for the account of Trust Principal. Bonds or other obligations bearing no stated interest shall constitute income, when sold or redeemed, to the extent of the profit realized by Trustee. E. To the extent permitted by law, no beneficiary shall transfer, mortgage, pledge, hypothecate, or assign any part of the income or principal of any Trust until actually received by him or her. The income and principal of the Trust shall not be subject to the claims of creditors of any beneficiary or to transfer by operation of law. F. Until Trustee receives written notice of any birth, death, marriage, or other event on which the right to receive payments from the Trust estate may depend, Trustee shall incur no liability for disbursements of principal or income made in good faith to any person whose interest may have been affected by that event. G. In making any division or distribution of the Property of the Trust, Trustee is authorized in Trustee's absolute discretion, to make such division or distribution among the respective beneficiaries at such valuation as Trustee shall deem fit and proper and in Trustee's absolute discretion may distribute the Trust Property in cash or in kind to the beneficiary or beneficiaries then entitled to receive any part or all of the Trust Estate. Trustee is further empowered to sell such portion or portions of all of the Trust Estate and to take such other steps as may be necessary or proper in Trustee's absolute discretion to effect any such division or distribution. H. In administering the Trust estate, Trustee shall have the power: 1. To manage, invest, and reinvest the Trust Property without regard to lack of diversification; to sell, convey, exchange, lease without limit as to term, lease for exploration for or removal of minerals, oil, gas, or other hydrocarbons, the Trust Property; to borrow money, including borrowing from itself; to mortgage, convey in Trust, pledge or otherwise hypothecate and encumber the Trust Property; to grant options; to vote stock; to join in corporate reorganizations, consolidations, and mergers; to do and perform any and all other acts and things deemed by Trustee as necessary or advisable in the management of the Trust Estate that may be done by an absolute owner of Property. The powers of Trustee shall be cumulative and in addition to the powers conferred on Trustee by law. The enumeration of Trustee's powers shall not be construed as a limitation, it being my intent that at no time shall Trustee be prevented through lack of an express power from taking any action in connection with the Trust Estate which Trustee may deem expedient. 2. To acquire, except as prohibited by law, every kind of Property, real, personal, or mixed, in every kind of investment specifically including, but not Testamentary Trust of the Residue of an Estate Page 3 of 4 limited to, corporate obligations of every kind, and stocks, preferred or common, including investments in common Trust funds. 3. To continue to hold any and all property received by Trustee or subsequently added to the Trust estate, or acquired by the Trust Estate pursuant to proper authority, so long as Trustee exercises the judgment and care under the circumstances as would prudent persons of discretion and intelligence in such matters who are seeking a reasonable income and preservation of their capital. 4. To allocate receipts and disbursements to principal or income as Trustee deems appropriate. In determining allocations between principal and income, Trustee may, but shall not be required to, follow the laws of       concerning principal and income. All such allocations (Name of State) made by Trustee in good faith shall be conclusive. 5. As to the Property held at any time or from time to time as an asset of any fixed Trust, Trustee shall not charge any depreciation to income. The cost of improvements shall not be amortized and no part of the improvements shall be charged to income. The cost of ordinary repairs shall be charged to income and the cost of extraordinary repairs shall be charged to principal. Section       . Taxes. (Number) All estate, transfer, inheritance, succession, and other taxes required to be paid after my death, with respect to probate or non-probate property, shall be paid out of the residue of my Estate and charged as an expense of administration and without apportionment. Section       . Waiver of Bond. (Number) I hereby waive any necessity for my Trustee       to post bond. (Name of Trustee) Testamentary Trust of the Residue of an Estate Page 4 of 4