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Wood
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LAST WILL AND TESTAMENT
(SIMPLE
WILL – ESTATE TAXES NOT
CONSIDERED RELEVANT TO THIS WILL)
State of Georgia
County of Fulton
PERSONAL INFORMATION
I, John Doe, a resident of the State of Georgia, Fulton County, declare that this is my will. My Social Security Number is 345-67-8910.
REVOCATION OF PREVIOUS WILLS
I revoke all wills and codicils that I have previously made.
BURIAL
I desire a funeral and burial (or cremation) consistent with my religious beliefs.
MARITAL STATUS
I am married to Jane Doe.
CHILDREN
I have the following children now living: Steve Doe and Susan Doe.
FAILURE TO LEAVE PROPERTY
If I do not leave property in this will to one or more of my children named above, my failure to do so is intentional.
DISPOSITION OF PROPERTY
All beneficiaries must survive me for 45 days to receive property under this will. As used in this will, the phrase survive me means to be alive or in existence as an organization on the 45th day after my death.
All personal and real property that I leave in this will shall pass subject to any encumbrances or liens placed on the property as security for the repayment of a loan or debt.
If I leave property to be shared by two or more beneficiaries, it shall be shared equally by them unless this will provides otherwise.
If I leave property to be shared by two or more beneficiaries, and any of them does not survive me, I leave his or her share to the others equally unless this will provides otherwise for that share.
Specific bequest refers to a gift of specifically identified property that I leave in this will.
Residuary estate means all property I own at my death that is subject to this will that does not pass under a specific bequest.
I leave My gray car to Susan Doe. If Susan Doe does not survive me, I leave this property to Steve Doe.
I leave My 100 acres in Minnesota to Uncle Alfred Doe. If Uncle Alfred Doe does not survive me, I leave this property to Aunt Anne Doe.
I leave my residuary estate to my wife Jane Doe. If my wife Jane Doe does not survive me, I leave my residuary estate to my children Steve Doe and Susan Doe in equal shares.
CHILD'S TRUST
Beneficiaries and Trustees. All property left in this will to Steve Doe shall be held in a separate trust for Steve Doe until he reaches age 25. This trust shall be managed under the General Trust Administration Provisions set forth in this will. The trustee of the Steve Doe trust shall be Uncle Alfred Doe. If Uncle Alfred Doe is unwilling or unable to serve, the trustee shall be Aunt Anne Doe.
Duties of the Trustee of an individual child's trust. The trustee of an individual child's trust shall manage and distribute the assets in the trust in the following manner.
Until the trust beneficiary reaches the age specified for final distribution of the principal, the trustee may distribute some or all of the principal or net income of the trust as the trustee deems necessary for the child's health, support, maintenance and education. Education includes, but is not limited to, college, graduate, postgraduate and vocational studies and reasonable living expenses.
In deciding whether or not to make a distribution to a beneficiary, the trustee may take into account the beneficiary's other income, resources and sources of support.
Any trust income that is not distributed by the trustee shall be accumulated and added to the principal.
Termination of an individual child's trust. An individual child's trust shall terminate as soon as one of the following events occurs:
• the beneficiary reaches the age stated above, in which case the trustee shall distribute the remaining principal and accumulated net income of the trust to the beneficiary
• the beneficiary dies, in which case the principal and accumulated net income of the trust shall pass under the beneficiary's will, or if there is no will, to his or her heirs, or
• the trust principal is exhausted through distributions allowed under these provisions.
Bond. No bond shall be required of any trustee.
Court Supervision. It is my intent that any trust established in this will be administered independently of court supervision to the maximum extent possible under the laws of the state having jurisdiction over the trust.
Transferability of Interests. The interests of any beneficiary of all trusts established by this will shall not be transferable by voluntary or involuntary assignment or by operation of law and shall be free from the claims of creditors and from attachment, execution, bankruptcy, or other legal process to the fullest extent permitted by law.
Powers of the Trustee. In addition to other powers granted a trustee in this will, a trustee shall have the powers to:
1) Invest and reinvest trust funds in every kind of property and every kind of investment, provided that the trustee acts with the care, skill, prudence and diligence under the prevailing circumstances that a prudent person acting in a similar capacity and familiar with such matters would use.
2) Receive additional property from any source and acquire or hold properties jointly or in undivided interests or in partnership or joint venture with other people or entities.
3) Enter, continue or participate in the operation of any business, and incorporate, liquidate, reorganize or otherwise change the form or terminate the operation of the business and contribute capital or loan money to the business.
4) Exercise all the rights, powers and privileges of an owner of any securities held in the trust.
5) Borrow funds, guarantee or indemnify in the name of the trust and secure any obligation, mortgage, pledge or other security interest, and renew, extend or modify any such obligations.
6) Lease trust property for terms within or beyond the term of the trust.
7) Prosecute, defend, contest or otherwise litigate legal actions or other proceedings for the protection or benefit of the trust; pay, compromise, release, adjust or submit to arbitration any debt, claim or controversy; and insure the trust against any risk and the trustee against liability with respect to other people.
8) Pay himself or herself reasonable compensation out of trust assets for ordinary and extraordinary services, and for all services in connection with the complete or partial termination of this trust.
9) Employ and discharge professionals to aid or assist in managing the trust and compensate them from the trust assets.
10) Make distributions to the beneficiaries directly or to other people or organizations on behalf of the beneficiaries.
Severability. The invalidity of any trust provision of this will shall not affect the validity of the remaining trust provisions.
PERSONAL GUARDIAN
If at my death a guardian is needed to care for my children, I name Aunt Anne Doe as personal guardian. If this person is unable or unwilling to serve as personal guardian, I name Uncle Alfred Doe to serve instead.
Reasons for my choice for guardian for all my children: Aunt Anne Doe has taken a personal interest in the rearing of the wards.
No personal guardian shall be required to post bond.
PROPERTY GUARDIAN
If at my death, a guardian is needed to care for any property belonging to my minor children, I name Aunt Anne Doe as property guardian. If this person is unwilling or unable to serve as property guardian, I name Uncle Alfred Doe to serve instead.
No property guardian shall be required to post bond.
PERSONAL REPRESENTATIVE
I name Brother Bob Doe to serve as my personal representative. If Brother Bob Doe is unwilling or unable to serve as personal representative, I name Bank of America to serve instead.
No personal representative shall be required to post bond.
PERSONAL REPRESENTATIVE'S POWERS
I direct my personal representative to take all actions legally permissible to have the probate of my will done as simply and as free of court supervision as possible under the laws of the state having jurisdiction over this will, including filing a petition in the appropriate court for the independent administration of my estate.
I grant to my personal representative the following powers, to be exercised as he or she deems to be in the best interests of my estate:
1) To retain property without liability for loss or depreciation.
2) To dispose of property by public or private sale, or exchange, or otherwise, and receive and administer the proceeds as a part of my estate.
3) To vote stock, to exercise any option or privilege to convert bonds, notes, stocks or other securities belonging to my estate into other bonds, notes, stocks or other securities, and to exercise all other rights and privileges of a person owning similar property.
4) To lease any real property in my estate.
5) To abandon, adjust, arbitrate, compromise, sue on or defend and otherwise deal with and settle claims in favor of or against my estate.
6) To continue or participate in any business which is a part of my estate, and to incorporate, dissolve or otherwise change the form of organization of the business.
The powers, authority and discretion I grant to my personal representative are intended to be in addition to the powers, authority and discretion vested in him or her by operation of law by virtue of his or her office, and may be exercised as often as is deemed necessary or advisable, without application to or approval by any court.
PAYMENT OF DEBTS
Except for liens and encumbrances placed on property as security for the repayment of a loan or debt, I want all debts and expenses owed by my estate to be paid in the manner provided for by the laws of Georgia.
PAYMENT OF TAXES
I want all estate and inheritance taxes assessed against property in my estate or against my beneficiaries to be paid in the manner provided for by the laws of Georgia.
NO CONTEST PROVISION
If any beneficiary under this will contests this will or any of its provisions, any share or interest in my estate given to the contesting beneficiary under this will is revoked and shall be disposed of as if that contesting beneficiary had not survived me.
SEVERABILITY
If any provision of this will is held invalid, that shall not affect other provisions that can be given effect without the invalid provision.
SIGNATURE
I, John Doe, the testator, sign my name to this instrument, this ________________ day of ______________, ________, at ___________________________________. I declare that I sign and execute this instrument as my last will, that I sign it willingly, and that I execute it as my free and voluntary act. I declare that I am of the age of majority or otherwise legally empowered to make a will, and under no constraint or undue influence.
_______________________________________
(Signed)
WITNESSES
We, the witnesses, sign our names to this instrument, and declare that the testator willingly signed and executed this instrument as the testator's last will.
In the presence of the testator, and in the presence of each other, we sign this will as witnesses to the testator's signing.
To the best of our knowledge, the testator is of the age of majority or otherwise legally empowered to make a will, is mentally competent and under no constraint or undue influence.
We declare under penalty of perjury that the foregoing is true and correct, this ________________ day of ______________, ________, at___________________________________.
Witness #1:
Residing at:
Witness #2:
Residing at:
Witness #3:
Residing at:
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INSTRUCTIONS ON USE OF SELF-PROVING AFFIDAVIT
Your state allows you to make your will self-proving. This means that a self-proving affidavit (a written statement under oath) is signed by you and your witnesses in front of a notary and then attached to your will.
Making a will self-proving has absolutely nothing to do with your will's legality. However, it may speed the admission of your will to probate after you die. This is especially true if none of your witnesses can be located at that time.
In short, while completing a self-proving affidavit is by no means essential, some people may want to go to the extra trouble it involves because in some circumstances it may make things easier for your personal representative.
If you wish to make your will self-proving, complete these steps:
1) Make sure that the Notary's signature lines print on the same page as the signature lines of the testator and witnesses. If they don't, try changing the print options to tight spacing and wider margins, and perhaps a smaller font, if necessary.
2) Sign and witness your will exactly as we suggest.
3) Either have a notary present at the will signing, or find a notary at a later time. Either way, you and at least two (preferably three) of your witnesses must personally appear before the notary and be prepared to identify yourselves.
4) Tell the notary that you want to make your will self-proving and ask whether he or she has a form for doing that. If so, use that form and follow the notary's instructions.
5) If the notary doesn't have a form, use the one printed by the 'lectric Law Library.
6) Put your name and your witnesses' names in the spaces indicated in the affidavit, and give it to the notary. He or she will have you and your witnesses swear to the truth of the statements in the affidavit (which basically are the same statements you used when the will itself was being signed and witnessed) and will then date and sign the affidavit and put his or her notary seal on it.
7) Staple the affidavit to your will. If you ever make a new will, you should also redo your affidavit.
REMINDER: Both you and your witnesses must sign the will as we direct in addition to signing this affidavit. The affidavit and will are to be treated as two separate documents.
* * *
AFFIDAVIT
State of: __________________
County of:__________________
Before me, the undersigned authority, on this day personally appeared ____________________________, ____________________________ and ____________________________, known to me to be the testator and the witnesses, respectively, whose names are subscribed to the annexed or foregoing instrument in their respective capacities, and, all of said persons being by me duly sworn, ____________________________, testator, declared to me and to the said witnesses in my presence that said instrument is his last will and testament, and that he had willingly made and executed it as his free act and deed for the purposes therein expressed. The witnesses, each on his/her oath stated to me, in the presence and hearing of the testator, that the testator had declared to them that the instrument is his/her last will and testament and that he/she executed same as such and wanted each of them to sign it as a witness; and upon his/her oath each witness stated further that he/she did sign the same as witness in the presence of the testator and at his/her request; that he/she was at that time 14 years of age or over and was of sound mind; and that each of said witnesses was then at least 14 years of age.
Testator:___________________________________________
Witness:____________________________________________
Witness:____________________________________________
Subscribed and sworn before me by the said ____________________________, testator, and by the said ____________________________ and ____________________________, witnesses, this _______ day of ________________, ________.
________________________________
(Signed)
________________________________
(Official capacity of officer)
* * *
Names Mentioned in Will
Here are the names of the people and organizations mentioned in the will of John Doe. If address and phone information has been entered, that information appears after each name. The relevance of each name in the will is also listed.
Bank of America
Appears in will as: Alternate Personal Representative
Brother Bob Doe
Appears in will as: Personal Representative
Jane Doe
Appears in will as: Spouse of John Doe, Beneficiary
Steve Doe
Appears in will as: Child of John Doe, Beneficiary
Susan Doe
Appears in will as: Child of John Doe, Beneficiary
Uncle Alfred Doe
Appears in will as: Beneficiary, Alternate Property Guardian, Alternate Personal Guardian, Trustee of Individual Child's Trust
Aunt Anne Doe
Appears in will as: Beneficiary, Property Guardian, Personal Guardian, Alternate Trustee of Individual Child's Trust
IMPORTANT
BEFORE YOU SIGN: Read your will carefully. Is everything printed as you intended? Do you understand the meaning of every word?
WHILE YOU SIGN: For your will to be valid you must be of sound mind and of the age specified by your state. This is almost always 18.
Your will should be witnessed by two witnesses. Some states require three (3). Georgia does not. The witnesses must be in your and each other's presence when you sign the will or the attestation of the will will be declared invalid. The witnesses need not read your will.
You must say to the witnesses that you intend this document to be your will. Make sure each page is numbered and dated; then write your initials on one of the blank lines where indicated. On the last page of your will, write in the date, and on the blank line after "at," fill in the city or county and state in which you are signing your will. Repeat this information in the blanks that appear just before the witnesses' signatures. Then sign it in the presence of the witnesses. Use exactly the form of your name printed on the will. The witnesses should state that they realize you intend this to be your will. They should then, in your presence, initial each page, near the line you did, sign the last page in the space indicated for witnesses, and fill in their addresses.
AFTER YOU SIGN: Keep your will in a safe place, where it can be readily found. You may make photocopies — for example, to give to your executor. However, only the signed original is legally valid and can be probated.
If there are major changes in your life, you should make and sign a new will and have it witnessed. Destroy the original of your old will and all copies. Changes that make it wise for you to make a new will include: having or adopting a child, moving to another state, the death of anyone named in your will, a change of marital status, and a significant change in the property you own.
|
Wood
& Meredith, LLP. - http://www.woodandmeredith.com/ |