WILL
OF
[NAME OF TESTATOR]
I, [NAME OF TESTATOR](a.k.a. [TESTATOR AKA NAME]), a resident of Minnesota, revoke any prior wills and codicils and make this my Will.
ARTICLE 1
PAYMENT OF EXPENSES AND TAXES
The following provisions shall govern the payment of taxes and expenses:
1.1 General Expenses and Probate Expenses. The Personal Representative shall pay expenses of my last illness and funeral, my valid debts, and expenses of administering my probate estate from the residue of my estate.
1.2 Non-Probate Expenses. The Personal Representative may pay expenses of administering my non-probate assets, and to the extent the Personal Representative pays such expenses, they shall be paid from the residue of my estate.
1.3 Estate Taxes. Estate taxes occasioned by my death shall be allocated and paid in accordance with the directions set forth in the General Governing Provisions of this instrument.
1.4 Priority of Payments. All payments under the preceding provisions of this Article shall be made prior to the final allocation of assets under Article 3 of this instrument.
ARTICLE 2
SPECIAL GIFTS
I make the following special gifts:
2.1 Tangible Personal Property. I may make one or more written lists directing the disposition of my personal effects (including jewelry, wearing apparel, watches, etc.), household property (including furniture, pictures, books, etc.), automobiles, objects of art, and other tangible personal property owned by me at the time of my death, together with any insurance on such property, excluding, however, money and coin collections and tangible personal property used exclusively in carrying on or conducting a business, trade or profession, and the Personal Representative shall distribute the property (and such insurance, if any) described in such list or lists as directed. To be given effect, a list must be signed by me or in my handwriting and it must describe an item or items of tangible personal property and the intended recipient with reasonable certainty. In the case of any inconsistent dispositions, the most recent disposition shall control. If no such list is found within 60 days after my death, any dispositions made by such a list shall abate to the extent that the Personal Representative has distributed or disposed of such property. The Personal Representative shall distribute all such tangible personal property not effectively disposed of by any such list to my [RELATIONSHIP, NAME] if [he][she] survives me, or if [he][she] does not survive me[,in equal shares to my descendants who survive me][as part of the residue of the trust estate]. [The expense of packing, shipping, insuring, and delivering tangible personal property to an individual under this Paragraph shall be paid by the Personal Representative as an administration expense.]
2.2 Provision for Spouse. The Personal Representative shall distribute to my spouse, if my spouse survives me, all interests in property, both real and personal, including buildings, fixtures and improvements to the property, used by me or my spouse [as a primary residence][for residential purposes, whether primary, secondary, seasonal, or recreational], whether evidenced by deed, stock or other securities, lease, license, permit or otherwise, together with and including all insurance policies relating thereto. This gift shall include all real property contiguous to or used in connection with such property, other than tangible personal property disposed of pursuant to a list under Paragraph 2.1 of this instrument.
2.3 Specific Gifts. The Personal Representative shall distribute to each person named below who survives me the sum set forth opposite the name of such person [or, if such person does not survive me, to such person’s descendants who survive me, per stirpes]. [If any such person does not survive me, the gift to such person shall lapse.]
2.3.1 [NAME AND RELATIONSHIP][AMOUNT]
2.3.2 [NAME AND RELATIONSHIP][AMOUNT]
2.3.3 [NAME AND RELATIONSHIP][AMOUNT]
[Choice #1, Paragraph 2.4]
2.4 Provision for Charity. The Personal Representative shall distribute to each organization named below the sum set forth opposite the name of such organization, to be used for its general tax-exempt purposes but without other restriction as to use. [If such organization is not then in existence, or is not then an organization described in section 2055 of the Internal Revenue Code, the gift to such organization shall lapse.][If such organization is not then in existence, or if such organization is not then an organization described in section 2055 of the Internal Revenue Code, the gift to such organization shall lapse and the sum that such organization would have been entitled to receive if it were then in existence and an organization described in section 2055 of the Internal Revenue Code shall be distributed to the remaining organizations designated in this Paragraph 2.4 that are then in existence and are then described in section 2055 of the Internal Revenue Code in the proportions that the distributions to such remaining organizations bear to each other.]
2.4.1 [NAME AND LOCATION][AMOUNT]
2.4.2 [NAME AND LOCATION][AMOUNT]
2.4.3 [NAME AND LOCATION][AMOUNT]
[The assets to be distributed under this Paragraph shall be selected by the Personal Representative, but, to the extent possible, such distributions shall be satisfied with assets constituting Income in Respect of Decedent (IRD) in my estate.]
[Choice #2, Paragraph 2.4]
2.4 Provision for Non-Charitable Entities. The Personal Representative shall distribute to each organization named below the sum set forth opposite the name of such organization, to be used for its general purposes but without other restriction as to use. [If such organization is not in existence at my death and the time of distribution, the gift to such organization shall lapse.][If such organization is not in existence at my death and the time of distribution, the gift to such organization shall lapse and the sum that such organization would have been entitled to receive if it were then in existence shall be distributed to the remaining organizations designated in this Paragraph 2.4 that are then in existence in the proportions that the distributions to such remaining organizations bear to each other.]
2.4.1 [NAME AND LOCATION][AMOUNT]
2.4.2 [NAME AND LOCATION][AMOUNT]
2.4.3 [NAME AND LOCATION][AMOUNT]
ARTICLE 3
RESIDUE
I give the residue of my estate, consisting of all the property I can distribute by will that is not effectively distributed by the preceding provisions of this instrument, except any property over which I then have a testamentary power of appointment, to the Trustee. The Trustee shall allocate and distribute the trust assets, including the residue of my estate and any property passing to the Trustee upon or after my death by beneficiary designation or otherwise, as follows:
3.1 Provision If Spouse Survives. If my spouse survives me, the remaining trust assets shall be distributed to my spouse, outright and free of trust; provided that any interest that my spouse disclaims shall be allocated instead to the Disclaimer Trust.
[Choice #1, Paragraph 3.2 – Separate Trusts to an Age]
3.2 Provision If Spouse Does Not Survive. If my spouse does not survive me, the remaining trust assets shall be allocated to my descendants who survive me, per stirpes. Each share so allocated to a descendant of mine who has attained the age of [AGE] shall be distributed outright to such beneficiary. Each share so allocated to a descendant of mine who has not attained the age of [AGE] shall be held by the Trustee as a separate trust named for such beneficiary.
[Choice #2, Paragraph 3.2 – Single Trust Followed by Separate Trusts to an Age]
3.2 Provision If Spouse Does Not Survive. If my spouse does not survive me, the remaining trust assets shall be allocated as follows:
3.2.1 Single Trust for Children. If any child of mine who survives me is under the age of [AGE], the remaining trust assets shall be allocated to the Single Trust for Children.
3.2.2 Provision for Descendants. If no child of mine who survives me is under the age of [AGE], the remaining trust assets shall be allocated to my descendants who survive me, per stirpes. Each share so allocated to a descendant of mine who has attained the age of [AGE] shall be distributed outright to such beneficiary. Each share so allocated to a descendant of mine who has not attained the age of [AGE] shall be held by the Trustee as a separate trust named for such beneficiary.
[Choice #1, Paragraph 3.3]
3.3 Contingent Provision. If my spouse does not survive me and no descendant of mine survives me, or if at any other time there are trust assets for which no beneficiary is specified under this instrument, such trust assets shall be distributed as follows: [______].
[Choice #2, Paragraph 3.3]
3.3 Heirs-at-Law. If my spouse does not survive me and no descendant of mine survives me, or if at any other time there are trust assets for which no beneficiary is specified under this instrument, such trust assets shall be distributed one-half to my then living heirs-at-law and one-half to my spouse’s then living heirs-at-law, determined under the Minnesota Statutes of intestate succession in force at the execution of this instrument as if each of us had died unmarried and without descendants [and as if our parents were then deceased].
[Choice #3, Paragraph 3.3]
3.3 Descendants of Parents. If my spouse does not survive me and no descendant of mine survives me, or if at any other time there are trust assets for which no beneficiary is specified under this instrument, such trust assets shall be distributed one-half to the then living descendants of my [mother][father], per stirpes and one-half to the then living descendants of my spouse’s [mother][father], per stirpes.
[Choice #4, Paragraph 3.3]
3.3 Provision for Others. If my spouse does not survive me and no descendant of mine survives me, or if at any other time there are trust assets for which no beneficiary is specified under this instrument, such trust assets shall be distributed in equal shares to the following individuals who are then living, and the share for any such individual who is not then living shall lapse, thereby ratably increasing the other shares: [NAMES OF INDIVIDUALS]
[Choice #5, Paragraph 3.3]
3.3 Provision for Charity. If my spouse does not survive me and no descendant of mine survives me, or if at any other time there are trust assets for which no beneficiary is specified under this instrument, such trust assets shall be distributed to [NAME OF ORGANIZATION] for its general [tax-exempt] purposes but without other restriction.
ARTICLE 4
TRUSTS
The separate trusts created under this instrument upon and after my death shall be administered and distributed as provided in this Article:
4.1 The Disclaimer Trust. The Disclaimer Trust shall be administered and distributed as follows:
[Choice #1, Paragraph 4.1.1]
4.1.1 Income. The Trustee shall distribute the income to my spouse, in annual or more frequent installments.
[Choice #2, Paragraph 4.1.1]
4.1.1 Income for Health, Education, Support, or Maintenance. The Trustee shall distribute to my spouse such portions of the income (including all or none) as the Trustee deems advisable to provide for my spouse’s health, education, support, or maintenance.
4.1.2 Principal for Health, Education, Support, or Maintenance. The Trustee shall distribute to my spouse such portions of the principal (including all or none) as the Trustee deems advisable to provide for my spouse’s health, education, support, or maintenance.
[Optional Paragraph 4.1.3]
4.1.3 Additional Principal. The Independent Trustee[, if there is an Independent Trustee then serving,] also may distribute to my spouse such portions of the principal (including all or none) as such Independent Trustee deems advisable for any purpose.
[Optional Paragraph 4.1.4]
4.1.4 Distributions to Descendants for Health, Education, Support, or Maintenance. The Trustee also may distribute to my [children][descendants] such portions of the income or principal (including all or none) as such Trustee deems advisable for the health, education, support, or maintenance of such beneficiaries.
[Optional Paragraph 4.1.5]
4.1.5 Distributions to Descendants. The Independent Trustee[, if there is an Independent Trustee then serving,] also may distribute to my [children][descendants] such portions of the income or principal (including all or none) as such Trustee deems advisable for any purpose.
[Optional Paragraph 4.1.6]
4.1.6 Distributions If Other Sources of Support Are Insufficient. Principal distributions may be made by the Trustee only after the Trustee determines that other funds known to the Trustee to be readily available to a beneficiary are insufficient to meet such beneficiary’s needs.
[Optional Paragraph 4.1.7]
4.1.7 Priority of Spouse. The trust shall be administered for the primary benefit of my spouse, and the Trustee may distribute principal to or for the benefit of my spouse without regard for the interests of the remainder beneficiaries of the trust.
4.1.8 Distribution at Death. Upon my spouse’s death, the Trustee shall allocate and distribute the remaining assets of the Disclaimer Trust, including any accrued income, in the manner provided under Article 3 if I had survived my spouse and died immediately after my spouse’s death.
4.2 The Single Trust for Children. The Single Trust for Children shall be administered and distributed as follows:
4.2.1 Distributions for Health, Education, Support, or Maintenance. Until my youngest child attains the age of [AGE], the Trustee shall distribute to any of my living children and any descendant of a deceased child of mine such portions of the income or principal as the Trustee deems advisable for the health, education, support, or maintenance of such beneficiary. Subject to these distribution standards, the Trustee may determine that no distribution shall be made to one or more of the beneficiaries.
[Choice #1, Paragraph 4.2.2 – No Chargeback]
4.2.2 Division of Trust. On the date when no living child of mine is under age [AGE], the Trustee shall allocate the remaining assets to my then living descendants, per stirpes. In making such division, the Trustee shall not take into account any discretionary distributions previously made under this Article. Each share so allocated to a child or other descendant of mine who has attained the age of [AGE] shall be distributed outright to such beneficiary. Each share so allocated to a child or other descendant who has not attained the age of [AGE] shall be held as a separate trust for such beneficiary, to be administered and distributed as provided in this instrument.
[Choice #2, Paragraph 4.2.2 – Chargeback for Prior Distributions]
4.2.2 Division of Trust. On the date when no living child of mine is under age [AGE], there shall be added to the remaining trust assets, for computation purposes only, the amount of each distribution of [income or] principal made to or for the benefit of any child of mine who was over the age of [AGE] at the time of such distribution, except no addition shall be made for any such distribution made to or for the benefit of any child of mine who is deceased and who has no descendants then living. The remaining principal and any accrued or undistributed income of the trust, plus any amounts so added for computation purposes, shall be allocated to my then living descendants, per stirpes. Each share so allocated to any beneficiary shall be reduced (but not below zero) by (a)the total amount added for computation purposes attributable to distributions made to or for the benefit of such beneficiary, and (b)such beneficiary’s portion (determined per stirpes) of any amount added for computation purposes attributable to such beneficiary’s ancestor who is a deceased child of mine. Each share so allocated to a child or other descendant of mine who has attained the age of [AGE] shall be distributed outright to such beneficiary. Each share so allocated to a child or other descendant who has not attained the age of [AGE] shall be held as a separate trust for such beneficiary, to be administered and distributed as provided in this instrument.
4.3 Separate Trusts for Children and Other Descendants. Each separate trust named for a child or more remote descendant of mine shall be administered and distributed as follows:
4.3.1 Income for Health, Education, Support, or Maintenance. The Trustee shall distribute to the beneficiary all or such portion of the income of the trust as the Trustee deems advisable for the beneficiary’s health, education, support, or maintenance[, except that upon and after the date the beneficiary attains age [AGE] the Trustee shall distribute all of the income to the beneficiary]. Undistributed income shall be added to principal.
4.3.2 Principal for Health, Education, Support, or Maintenance. The Trustee shall distribute to the beneficiary so much of the principal of the trust as the Trustee deems advisable for the beneficiary’s health, education, support, or maintenance, including graduate or professional study.
[Optional Paragraph 4.3.3]
4.3.3 Principal. The Independent Trustee may distribute any part, all or none of the principal to or for the benefit of the beneficiary as such Trustee deems advisable.
4.3.4 Termination of Trust. When the beneficiary attains age [AGE] the remaining principal and any accrued or undistributed income of the trust shall be distributed to the beneficiary and the trust shall terminate.
[Alternate #1, Paragraph 4.3.4]
4.3.4 Termination of Trust. When the beneficiary attains age [AGE], the Trustee shall distribute to the beneficiary one-half (1/2) of the remaining assets of the trust. When the beneficiary attains age [AGE], the trust shall terminate, and the Trustee shall distribute to the beneficiary the remaining assets of the trust.
[Alternate #2, Paragraph 4.3.4]
4.3.4 Termination of Trust. When the beneficiary attains age [AGE], the beneficiary may withdraw all or any portion of the trust assets by delivering to the Trustee a written request for the assets withdrawn.
4.3.5 Distribution at Death. If the beneficiary dies before the termination of the trust, the Trustee shall distribute the remaining assets of the trust, including any accrued income, [in accordance with the exercise by the beneficiary of a special power of appointment that I hereby give to the beneficiary [to appoint to any one or more of my descendants who survive the beneficiary] or [to appoint to any one or more of the beneficiary’s surviving spouse and my descendants who survive the beneficiary] and/or [to appoint to any one or more Charities]. To the extent that the special power is unexercised, the remaining assets of the trust shall be distributed] to the beneficiary’s descendants who survive the beneficiary, per stirpes, or if none, to the descendants, per stirpes, of the nearest lineal ancestor of the beneficiary who is a descendant of mine, or if none, to my descendants, per stirpes, or if none, in the manner provided under Article 3 if I survived the beneficiary and died immediately after the beneficiary’s death. Each share so allocated to a child or other descendant of mine who has attained the age of [AGE] shall be distributed outright to such beneficiary. Each share so allocated to a child or other descendant of mine who has not attained the age of [AGE] shall be held as a separate trust named for such beneficiary, to be administered and distributed as provided in this Article.