YOUR NAME ARTICLE 1. FAMILY. Identification of Family. Definition of Family Terms
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1 Caution: This document is provided as an example of a simple will (a will that does not include a trust). It is not given as legal advice and may not apply to you or your circumstances. You should consult an attorney before preparing your estate plan. L AST WILL AND TESTAMENT OF YOUR NAME I, Your Name, a resident of, County, Alabama, declare this to be my Will. I hereby revoke any and all Wills and Codicils that I have previously made. ARTICLE 1. FAMILY Identification of Family I declare that I am married to Your Spouse's Name and that I have three children whose names and birthdates are: Child 1 born October 3, 1986; Child 2 born June 2, 1997; and Child 3 born October 27, Definition of Family Terms As used in this Will, the term my spouse shall mean Your Spouse's Name. As used in this Will, the term my children refers to all my natural children, including any that may subsequently be born to me. The term my children also includes all my adopted children and any that I may subsequently adopt. The term my children excludes all other persons, including any stepchildren or foster children who reside with me or who may subsequently come to reside with me. As used in this Will, the term issue refers to all lineal descendants of the indicated person of all generations, with the relationship of parent and child at each generation determined by the definition of children set forth in this Paragraph ARTICLE 2. PAYMENT OF BURIAL EXPENSES AND DEBTS Description of Expenses and Debts I authorize my Personal Representative to pay all the expenses of (1) a funeral or memorial service; (2) the interment of my remains, including the costs of a gravesite, if necessary; and (3) the installation and inscription of a suitable marker at, and perpetual care of, the gravesite. I further direct my Personal Representative to pay all of my debts that my Personal Representative in his or her sole discretion may allow as claims against my estate. Page 1! of 7!
2 ARTICLE 3. DISPOSITION OF TANGIBLE PERSONAL PROPERTY Specific Bequest I give my hunting equipment and guns to my son, Child 1, if he survives me. I give each of my children who survive me the sum of 10,000 in cash from my liquid assets. Disposition to Spouse I give all the remainder of my tangible personal property of every kind and description, including, but not limited to, books, pictures, clothing, articles of household or personal use or adornment, household furnishings and effects, and automotive vehicles and their accessories, but excluding any money, evidences of indebtedness, documents of title, and securities and property used in connection with the operation of any trade or business, to my spouse, if she survives me. Alternative Disposition to Children If my spouse does not survive me, I give all the remainder such tangible personal property to my children to be divided among them in substantially equal shares as they shall agree. The share of any child of mine who predeceases me leaving issue who survive me shall pass to such issue per stirpes by right of representation. If no such agreement is reached within ninety days after my death, then such tangible personal property shall be divided in such manner as my Personal Representative shall direct. The decision of my Personal Representative shall be conclusive and binding on all persons interested in my estate. ARTICLE 4. DISPOSITION OF RESIDUARY ESTATE Disposition to ACES I give the sum of $5,000 to the Alabama Cooperative Extension System at Auburn University to support the the Estate Planning Workshops. Disposition to Wife and Children All of the rest, residue, and remainder of the property that I own at the time of my death, both real and personal, and of every kind and description, wherever situated, to which I may be legally or equitably entitled at the time of my death (my residuary estate ), I give to my spouse if she survives me. If my wife does not survive me, I give my residuary estate to my children in equal shares, per stirpes. ARTICLE 5. POWERS OF ADMINISTRATION Grant of Powers In the administration of my estate my Personal Representative shall have the powers and authority set forth in this Article. These powers may be exercised by my Page 2! of 7!
3 Personal Representative in his or her sole and absolute discretion, without the permission or order of any court. These powers shall be supplementary to the powers conferred by law. Retention of Assets My Personal Representative shall have the power to retain any or all property of my estate, however received or acquired, for so long as my Personal Representative deems appropriate. Transfer of Assets My Personal Representative shall have the power to sell, transfer, and convey any property, of whatever nature, including real property, and wherever situated, that I may own at the time of my death, or that may come into my estate at or after my death to pay my just debts. The sale, transfer, or conveyance may be by public or private sale, at such time, on such terms and conditions, including selling price and credit, in such manner, as my Personal Representative deems appropriate. Power to Hold Property in Nominee Form My Personal Representative shall have the power to hold any property in the name of a nominee or in bearer form. Distribution to Minors and Persons Under Disability My Personal Representative shall have the power to make distributions or payments to or for the benefit of any beneficiary who is a minor, an incompetent, or who in the Personal Representative's judgment is incapacitated. The distributions or payments shall be made in any one or more of the following ways: (1) directly to the beneficiary; (2) directly to the creditor in payment of the debts or expenses of the beneficiary; (3) to the guardian of the person or estate of the beneficiary; (4) to any custodial parent of a minor beneficiary; (5) to a custodian for the beneficiary under any law related to gifts to minors, including to my Personal Representative in that capacity; or (6) to any other person who shall have the care and custody of the person of the beneficiary. There shall be no duty to see to the application of funds so paid, provided due care was exercised in the selection of the person to whom the funds were paid, and the receipt of the person shall be full acquittance of the Personal Representative. Disposition of Business Interests My Personal Representative shall have the power to continue or to permit the continuation of any business, incorporated or unincorporated, in which I may have any interest at the time of my death for any period of time, or to liquidate the business on any terms, as my Personal Representative deems appropriate. This power includes, but is not limited to, (1) the power to invest additional sums in any business, even to the extent that Page 3! of 7!
4 my estate may be invested largely or entirely in the business, without liability for any loss resulting from lack of diversification; (2) the power to act as or to select other persons to act as directors, officers, or employees of any business, to be compensated without regard to being a Personal Representative under this Will; and (3) the power to make any other arrangements as my Personal Representative shall deem proper. Employment of Agents My Personal Representative shall have the power to employ and pay the compensation of any and all attorneys, agents, custodians, attorneys-in-fact, experts, investment counsel, accountants, bookkeepers, or other agents or providers of services as my Personal Representative deems advisable in the administration of my estate. Commissions My Personal Representative shall have the power to take reasonable commissions on account at any time during the administration of my estate without the approval of any beneficiary or of the court, but subject to allowance or disallowance on the settlement of the final account of my Personal Representative. Third-Party Reliance No person or corporation dealing with my Personal Representative shall be required to see to the application of any property paid or delivered to my Personal Representative, or to inquire into either the authority of my Personal Representative to enter into any transaction or the expediency or propriety of any transaction entered into by my Personal Representative. ARTICLE 6. PAYMENT OF DEATH TAXES Payment of Taxes I direct that all federal and state estate, inheritance, succession, and transfer taxes payable as a result of my death shall be apportioned in the following manner: taxes payable as the result of a specific devise or bequest shall be paid by the transferee of the devise or bequest and taxes payable as the result of property in my residuary estate shall be equitably apportioned among the beneficiaries of my residuary estate. Protection of Marital Deduction Anything in this Will to the contrary notwithstanding, I direct that no payment on account of the taxes referred to in Paragraph 6.01, above, or on account of any of my debts or any expenses of administering my estate, shall be paid, in whole or in part, out of or charged to (1) any share, interest, or property qualifying for the marital deduction for federal estate tax purposes; or (2) the proceeds of any asset received by my Personal Representative that would not otherwise be subject to federal estate tax purposes, or to Page 4! of 7!
5 state death taxes unless payable to or for the benefit of my estate, except to the extent that my residuary estate does not include sufficient other property to make such payment or payments. ARTICLE 7. APPOINTMENT OF PERSONAL REPRESENTATIVE Appointment I name, constitute, and appoint my wife Your Spouse's Name as Personal Representative of my estate. If my wife shall not survive me, shall refuse or fail to serve as Personal Representative for any reason, or shall cease to serve as Personal Representative for any reason after having been appointed, my children, jointly, shall act as Personal Representative of my estate. If one or more of my children shall refuse or fail to serve as Personal Representative for any reason, or shall cease to serve as Personal Representative for any reason after having been appointed, the remaining children or child shall serve as Personal Representative. Bond/Inventory Not Required My Personal Representative shall not be required to furnish a bond for the faithful performance of his or her duties as Personal Representative. No Personal Representative serving under this Will shall be required to file an inventory with any Court. ARTICLE 8. LIABILITY OF PERSONAL REPRESENTATIVE Liability Limited to Actual Fraud or Willful Misconduct My Personal Representative shall not at any time be liable for mistake of law or of fact, or both law and fact, or errors of judgment, nor for any loss coming to any beneficiary under this Will, or to any other persons, except through actual fraud or willful misconduct on the part of the Personal Representative. My Personal Representative may, from time to time, consult with counsel with respect to the meaning, construction, and operation of this Will, particularly with respect to the apportionments, allocations, and disbursements, and may act on the advice of counsel in all matters without incurring liability on account of his actions. ARTICLE 9. APPOINTMENT OF TESTAMENTARY GUARDIAN Appointment Should I predecease my spouse leaving unmarried minor children, my spouse shall have all rights of legal and physical custody and control of our minor children without the need of the appointment of any guardian of the person or estate for any minor child. However, should my spouse predecease me and at the time of my death any child of mine is still unmarried and under the age of eighteen years, I appoint my sister, Your Sister s Name, to be guardian of the estate and of the person of the minor children. Page 5! of 7!
6 No Bond Required No bond shall be required of any guardian of the person or estate of my minor children who is appointed under this Will. Guardianship Estate Any property given by this Will to any child of mine who is still a minor at the time of my death shall be included in the guardianship estate. The guardian of the estate appointed in this Will shall have full authority to control and administer all property in the guardianship estate for the benefit of any minor child. On any child's attaining the age of eighteen years, the guardianship shall be terminated and the entirety of the guardianship estate shall be transferred to that child absolutely and without limitation or restriction of any kind. ARTICLE 10. PRESUMPTION IN CASE OF SIMULTANEOUS DEATH Presumption as to Survival For the purposes of this Will, in determining whether a person has survived me or another person, (1) my spouse shall be deemed to have survived me unless it unmistakably appears by proof that she predeceased me, and (2) in all other cases a person shall not be deemed to have survived me or another person if he or she dies within thirty days after my death or after the death of such other person. ARTICLE 11. INTERPRETATION Successors of Fiduciaries All pronouns referring to the Personal Representative, and the term Personal Representative shall be construed to mean any person acting as my Personal Representative or administrator with will annexed, as the case may be. Number and Gender If required by the context of this Will, singular language shall be construed as plural, plural language shall be construed as singular, and the gender of personal pronouns shall be construed as either masculine, feminine, or neuter. Headings All headings used in this Will to describe the contents of each article, paragraph, or other division are provided for convenience only and shall not be construed to be a part of this Will. Page 6! of 7!
7 Governing Law This Will shall be construed in conformity with the laws of the State of Alabama. I, Your Name, the testator, sign my name to this instrument this day, of Month, Year, 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 (or willingly direct another to sign for me), 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. Your Name We, Witness 1 and Witness 2, 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 his last will and that he signs it willingly (or willingly directs another to sign for him), and that each of us, in the presence and hearing of the testator, hereby signs this 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. Witness Witness STATE OF ALABAMA COUNTY OF LEE Subscribed, sworn to and acknowledged before me by Your Name, the testator, and subscribed and sworn to before me by Witness 1 and Witness 2, witnesses, this day of Month, Year., Notary Public My commission expires: Page 7! of 7!
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