LAST WILL AND TESTAMENT OF ________
I, ________, presently of ________, Alabama, declare that this is my Last Will and Testament.
ARTICLE I. PRELIMINARY DECLARATIONS
Prior Wills and Codicils
1. I revoke all prior Wills and Codicils and declare this to be my Last Will and Testament.
Marital Status
2. I am not married or in a common law relationship.
Current Children
3. I have 1 living child, as follows:
________, born on ________
4. The term "child" or "children" as used in my Will includes the above listed children and any children born to me or legally adopted by me after I have signed this Will.
ARTICLE II. EXECUTOR
Definition
5. The phrase "my Executor" used throughout this Will includes both the singular and the plural number, as well as both the masculine and feminine gender as appropriate and required by context. The term "Executor" in this Will is synonymous with and includes the terms "Executrix," "Fiduciary,"or "Personal Representative."
Appointment
6. I appoint ________ of ________ to serve as the sole Executor of my Will. If ________ should predecease me, or should be unable or unwilling to act or continue to act as my Executor, then I appoint ________ of ________ to be the Executor of my Will in the place of ________. If ________ and ________ should both predecease me, or if they are both unwilling or unable to fulfill the duties of Executor of my Will, then I appoint the survivor of ________ and ________ to be the sole Executor of my Will.
7. No Executor shall be required to file or furnish any bond, surety, or other security in any jurisdiction, nor shall any Executor hereunder be required to file any inventory or other reports with any court.
8. No Executor shall be required to inquire into or audit the acts or doings of any predecessor Executor or to make claim against any such predecessor or their estate.
Powers and Duties of Executor
9. I give and appoint to my Executor the following duties and powers, in addition to any powers and elective rights conferred by Alabama state law or federal law or any other provision of this will, with respect to my estate, which my Executor may exercise as often as required without any prior approval by any court:
a. To pay my legally enforceable debts, funeral expenses, and all other expenses in connection with the administration of my estate and the trusts created by this Will as soon as convenient after my death. If any of the real property devised in my Will remains subject to a mortgage at the time of my death, then I direct that the devisee taking that mortgaged property will take the property subject to that mortgage and that the devisee will not be entitled to have the mortgage paid out or resolved from the remaining assets of the residue of my estate;
b. To take any and all necessary actions to have my Will probated as simply as possible with as little court intervention or supervision as possible, under the laws of the State of Alabama;
c. To exchange, retain, sell, repair, improve, or dispose of any and all personal property belonging to my estate as my Executor deems prudent and necessary without liability for loss or depreciation;
d. To invest, lease, rent, mortgage, manage, sell, dispose of, or give options without being limited as to term and to repair, improve, insure, or otherwise handle any and all real property belonging to my estate as my Executor deems prudent and necessary without liability for loss or depreciation;
e. To liquidate, purchase, maintain, or convert any investments or securities, and to vote stock or exercise any option concerning any investments or securities without liabiluty for loss;
f. To close or open investment or bank accounts;
g. To maintain, settle, abandon, sue, or defend, or otherwise deal with any lawsuits brought against my estate;
h. To compensate counsel and employ any other persons who may be deemed necessary for proper administration and to delegate authority when delegation would be prudent and necessary to the benefit of the trust or estate;
i. To exercise and continue the power provided in this section not withstanding the termination of the trust until all assets of the trust have been distributed; and
j. Except as otherwise provided by this Will, to act as my Trustee by holding in trust the share of any minor beneficiary, and to keep such share invested, pay the income or capital or as much of either or both as my Executor considers prudent and necessary for the maintenance, education, advancement, or benefit of such minor beneficiary, and to pay or transfer the capital of such share or the amount remaining of that share to such beneficiary when they reach the age of majority or, during the minority of such beneficiary, to pay or transfer such share to any parent or guardian of such beneficiary subject to like conditions and the receipt of any such parent or guardian discharges my Executor.
10. Any Fiduciary serving hereunder shall keep full accounts and make and furnish statements of all receipts and disbursements at least annually to any and all persons then eligible to receive income from my estate or any trust created hereunder and shall at any time, upon reasonable request of such person, provide full information to such person as to the condition of my estate, including amounts received and disbursements made.
11. Any Fiduciary under this Will may resign without the order of any court and without consent of any beneficiary of any provision of this Will by giving such Fiduciary's successor and all persons then entitled to receive income hereunder, or the guardians of such persons, thirty (30) days advance written notice of such intent to resign, or at any time resign by instrument in writing signed by such Executor or Trustee and delivered to the persons then entitled to the income from my estate or such trust. In the case of an Executor, the Fiduciary must also give notice to the Court having jurisdiction over the administration of my estate and, upon properly accounting for all estate property received and disbursed, shall be discharged from any and all further liabilities. In the case of a Trustee, the Fiduciary must deliver the trust property to the successor Trustee and, upon properly accounting for all trust property received and disbursed, shall be discharged from any and all further liabilities.
12. If a successor Fiduciary is unable or unwilling to serve, they may appoint a second successor Fiduciary to serve in their place, by sending a signed instrument appointing a successor delivered to each and every living beneficiary under my Will making express reference to this power and the second successor Fiduciary may exercise powers upon a prospective and contingent basis until effective.
ARTICLE III. DISPOSITION OF ESTATE
Specific Gifts
13. To receive a specific gift under this Will, a beneficiary must survive me by 30 (thirty) days. Any items that fail to pass through a specific gift that I have named here will return to the residue of my estate. All property given under this Will is subject to any encumbrances or liens attached to the property.
14. My specific bequests are the following:
________
Distribution of Residue
15. To receive any property or gifts under this Will, a beneficiary must survive me by 30 (thirty) days. Beneficiaries of my estate residue will share in all of my property and assets that I have not bequeathed via specific gifts or are otherwise required for the repayment of debts owed, including but not limited to burial or funeral expenses, expenses associated with probating this Will, payment of taxes, or any other expenses associated with administration of my Will. The residue of my estate is to be distributed between the beneficiaries I have designated here with the beneficiaries each receiving a share of the residue of my entire estate. All property distributed under this Will is subject to any encumbrances or liens attached to the property.
16. I direct that the Executor of my Will distribute the residue of my estate in the following manner ("Share Allocations"):
-- The residue of my estate shall be distributed to any of my currently living or future children alive at the time of my death in equal shares. If a child of mine does not survive me, such deceased child's share shall be distributed in equal shares to the children of such deceased child who survive me, by right of representation. If a child of mine does not survive me and has no children who survive me, such deceased child's share shall be distributed in equal shares to my other children, if any, or to their respective children by right of representation. If no children of mine survives me, and if none of my deceased children are survived by any children, the residuary of my estate shall be distributed to the following alternate beneficiary: ________. If no above named beneficiaries survive me, the residue of my estate shall be distributed to my heirs-at-law, their identities and respective shares to be determined by the intestacy laws of the State of Alabama.
ARTICLE IV. CHILDREN
Guardian for Minor and Dependent Children
17. Should my minor or dependent children require a guardian to care for them in the event of my death, I direct that the following individual be appointed to be their guardian (the "Guardian"):
-- I appoint ________ of ________ to be the sole Guardian of all my minor and dependent children until they have reached the age of majority in the State of Alabama. If ________ is unable or unwilling to serve as Guardian, I appoint ________ of ________ to serve as the Guardian of my surviving children who are minors at the time of my death.
18. No guardian shall be required to furnish or file any bond, surety, or any other security in any jurisdiction.
ARTICLE V. TESTAMENTARY TRUST
Testamentary Trust for Minor Beneficiaries
19. I intend to create a testamentary trust (the " Testamentary Trust") for all minor beneficiaries named in my Will. I name my Executor as trustee (the "Trustee") of any and all Testamentary Trusts required in my Will. Any assets bequeathed, transferred, or gifted to a minor beneficiary named in this my Will are to be held in a separate Trust by the Trustee until that minor beneficiary reaches the designated age. Any property left by me to any minor beneficiary in this my Will shall be given to my Trustee to be managed until that minor beneficiary reaches the age of ________ years old.
Trust Administration
20. The Trustee shall manage the Testamentary Trust as follows:
a. The assets and property will be managed for the benefit of the minor until the minor reaches the age I have set for final distribution of the assets in the trust;
b. Upon the minor reaching the age set by me for final distribution, all property and assets remaining in the trust shall be transferred to the minor beneficiary in as quick and efficient manner as possible; and
c. Until the minor beneficiary reaches the age set by me for final distribution, my Trustee will keep the assets of the trust invested and pay the whole or such part of the net income derived therefrom and any amount or amounts out of the capital that my Trustee may deem advisable to support the health, welfare, education, maintenance, or other necessary benefit of that minor beneficiary.
21. The Trustee may, using their best and prudent discretion, invest and reinvest trust funds in any kind of real or personal property and any kind of investment, provided that the Trustee acts will all due care, skill, diligence, and conscientiousness, considering all relevant financial and economic considerations, that a reasonable individual acting in a similar capacity and familiar with such matters would use.
22. No bond, surety, or other security of any kind will be required of any Trustee appointed in this my will in any jurisdiction.
Trust Termination
23. The Testamentary Trust will end after any of the following:
a. The minor beneficiary reaching the age set by me for final distribution of the assets in the trust;
b. The minor beneficiary dies; or
c. The assets of the trust are exhausted through distribution.
General Trust Provisions
24. The expression "my Trustee" used throughout this will includes both the singular or plural, or the masculine or feminine gender, as appropriate and required by context.
25. To carry out the terms of my Will, I give my Trustee the following powers to be used in his or her well-considered discretion at any time in the management of a trust created hereunder, namely:
a. The power to make expenditures as necessary to carry out the intent and purpose of the trust;
b. Subject to my direction to the contrary, the power to sell, call in, and convert into money any trust property, including real property, that my Trustee, in his or her best judgment deems advisable;
c. Subject to my direction to the contrary, the power to mortgage trust property where my Trustee considers it prudent and advisable to do so;
d. Subject to my direction to the contrary, the power to borrow money when my Trustee considers it advisable to do so;
e. Subject to my direction to the contrary, the power to lend money to the trust beneficiary if my Trustee considers it to be in the beneficiary's best interest to do so;
f. To make expenditures for the purpose of improving, repairing, or maintaining any property;
g. To exercise all rights and options of an owner of any securities held in trust;
h. To lease trust property, including real estate, without limit as to term;
i. To make investments my Trustee considers prudent and advisable, without being limited to those investments authorized by law for trustees;
j. To receive additional property from any source and in any form of ownership;
k. To employ any third person or persons to conduct any business or perform any actions related to the trust created by my Will, including the receipt and payment of money, without being liable for loss incurred.
l. To settle, waive, or pursue any claims at any time due to or by the trust to the extent that my Trustee considers this to be in the best interest of the trust beneficiary, and to make agreements with any third party or parties or corporation in respect thereof, which shall be binding upon such beneficiary;
m. To pay him or herself a reasonable compensation out of the trust assets for the labor of managing the trust; and
n. To employ and rely on advice and counsel given by any attorney, accountant, investment advisor, money manager, or other qualified professional to assist the Trustee in the administration of this trust and to compensate them from the trust assets.
26. The above powers granted to my Trustee are in addition to any powers and elective rights granted to my Trustee by state or federal law or statute or by any other privisions of this Will and may be exercised as often as required and without approval by any court.
27. Subject to the terms of this Will, I direct that my Trustee not be held liable for any loss to my estate or to any beneficiary resulting from his or her good faith efforts to manage the trust and use any discretion I have given them in this Will.
28. Any trust created in this Will shall be administered as independently of court supervision as possible under the laws of the State of Alabama which shall have jurisdiction over the trust.
29. If any trust condition is held invalid or unenforceable, it will not affect any other provisions that can be given effect without the invalid provision.
ARTICLE VI. PET CARE DIRECTIVE
Pet Caretaker
30. If any of my pets are suffering, in poor health, or beyond reasonable treatment at the time of my death, I direct that, according to their discretion, my Executor shall have my pets humanely euthanized as soon as practicable. All costs relating to the medical care, treatment, and euthanasia of my pets during the period immediately following my death and prior to the adoption by a permanent guardian shall be paid out of the residue of my estate.
31. If my Executor is unable to place any of my pets with a suitable caretaker or permanent guardian for any reason, with reasonable effort, I direct that, according to their discretion, my Executor shall give my pets up to a no-kill animal shelter where there is a reasonable likelihood that they will be placed with an alternative permanent guardian.
32. I direct that the below named pet, shall it be alive and healthy at the time of my death, be cared for as their own with all the rights and responsibilities of ownership by the individuals I specify below. If the individual or individuals I name are unwilling or unable to care for my pet, I direct that my Executor shall select an appropriate person to accept the pet and act as their permanent guardian.
-- ________ shall be cared for by ________ of ________
Petcare Fund
33. I direct that my Executor give $________ (________ dollars) from the residue of my estate to the person who accepts the role of permanent guardian for ________ as a one-time reimbursement for the expense of caring for, feeding, and maintaining the health of my animal.
ARTICLE VII. FORGIVEN DEBTS
Personal Debts Forgiven
34. I wish to forgive the following debts owed to me:
________
35. If any amount of the above debts are still outstanding at the time of my death and where the debtors survive me and do not contest my Will in any way, then I release and forgive any remaining portion of those debts, including both the principal and the interest, and I direct my Executor to cancel and discharge that debt and deliver to the debtors any and all securities or evidence of the cancellation of that debt. Any expenses related to the cancellation of any debts will be paid out of the residue of my estate. If any debtor does not survive me or if any debtor contests my will for any reason, then all obligations associated with the associated debt will remain outstanding and I direct my Executor to collect the debt in full.
ARTICLE VIII. MISCELLANEOUS PROVISIONS
Individuals Omitted from Bequests
36. If I have not bequeathed property or any portion of my estate in this Will to one or more of my heirs, the failure to do so is intentional and not due to any oversight on my part, except as otherwise expressly provided in this my Will.
37. I intend to specifically disinherit the following individual or individuals and direct that the person or persons named below receive no part of my estate under the terms of this Will:
________
Insufficient Estate
38. If the value of my estate is insufficient to fulfill all of the bequests that I have described in this Will, I direct that my Executor decrease each bequest by a proportionate amount according to my Executor's discretion and best judgment.
No Contest Provision
39. If any beneficiary named in this Will contests in court any of the provisions of this Will, then each and all such persons shall not be entitled to any devises, legacies, bequests, trusts, or benefits under this Will or any codicil hereto, and such interest or share in my estate shall be disposed of as if that contesting beneficiary had not survived me.
Disputes Between Beneficiaries
40. If any bequest requires that the bequest be distributed between or among multiple beneficiaries, the specific items of property comprising the respective shares shall be determined by such beneficiaries if they can agree, and if they cannot agree given reasonable time to do so, by my Executor.
Severability
41. If any provisions of this Will are deemed unenforceable, the remaining provisions will remain in full force and effect wherever possible.
IN WITNESS WHEREOF, I have signed my name on this ______ day of the month of ___________________ of the year ___________, in the City of ___________________________, the State of Alabama, declaring and publishing this instrument as my Last Will and Testament, in the presence of the undersigned witnesses, who witnessed and subscribed this my Last Will and Testament at my request and in my presence. I attest that I have signed this instrument willingly (or willingly directed another to sign on my behalf), that I execute it as my free and voluntary act for the purposes expressed in the Last Will and Testament, and that I am eighteen (18) years of age or older, of sound mind, and under no constraint or undue influence.
______________________________________
________, Testator
SIGNED AND DECLARED by ________ on this on this ______ day of the month of ___________________ of the year ___________ to be their Last Will and Testament, in our presence, in the City of ___________________________, the State of Alabama, who at their request, in their presence and in the presence of each other, all being present at the same time, have signed our names as witnesses. We do hereby attest that the Testator signs this instrument willingly (or willingly directs another to sign for the Testator), and that each of us, in the presence and hearing of the Testator, hereby signs this Last Will and Testament as witness to the Testator's signing, and that to the best of our knowledge the Testator is eighteen (18) years of age or older, of sound mind, and under no constraint or undue influence.
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Witness #1 Signature
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Witness #1 Printed Name
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Witness #1 Street Address
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Witness #1 City, State
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Witness #2 Signature
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Witness #2 Printed Name
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Witness #2 Street Address
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Witness #2 City, State
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Witness #3 Signature
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Witness #3 Printed Name
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Witness #3 Street Address
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Witness #3 City, State
STATE OF Alabama
COUNTY OF _______________________
Subscribed, sworn to, and acknowledged before me by ________, the Testator, and
subscribed and sworn to before me by ___________________________,
___________________________, and ___________________________, witnesses, this
_________ day of _____________________, 20_____.
(seal)
(signed)___________________________
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(Official capacity of officer)