LAST WILL AND TESTAMENT

LAST WILL AND TESTAMENT

OF

JOHN SMITH

  1. DECLARATION

I, John Smith, a resident of Santa Clara County, California, and being of sound mind and memory, do hereby make, publish and declare this to be my last will and testament, hereby revoking all Wills, Codicils and other testamentary dispositions previously made by me.

  1. FAMILY

I declare that I have biological twins, namely: _______________ and ____________________. If subsequent to the execution of this Will there shall be an additional child or children born to or adopted by me, I direct that such birth or adoption shall not revoke this Will.

I also declare that I have the following members as part of my family and beneficiaries of this will:

My mother named ____________________

My father named _____________________

My sister named _________________________

My brother in law named___________________

I further declare that I have friends who I consider family and are also listed as beneficiaries of this will:

Friend name _________________________

Friend name _________________________

Friend name _________________________

  1. DOMICILE

I declare that I am domiciled in California and that in so far as possible the interpretation and administration of this my Last Will and Testament shall be guided or where applicable governed by the laws of California.

  1. APPOINTMENT OF EXECUTOR

I nominate, constitute and appoint my attorney, __________________ [NAME OF ATTORNEY] as executor under this Will. Should he fail to qualify or cease to act as executor, I nominate, constitute and appoint my brother-in-law, _______________________ [NAME]. If my brother in law fails to qualify or cease to act as executor, I nominate, constitute and appoint my friend, ____________________ [Name]. I direct that no bond be required of any Executor nominated in this will. The term “my executor” shall include any personal representative of my estate.

  • APPOINTMENT OF TRUSTEES

I nominate, constitute and appoint _____________________, __________________, __________________________ and __________________________ as Trustees of this will. I expect them to collaborate and work together to make decisions in the best interest of my children and my estate.

  1. As long as the youngest of my children is living and is under the age of twenty five (25), the Trustee shall pay to or apply for the benefit of any living child of mine who is under the age of 25 as much of the net income and principal of the Trust as the Trustee in the Trustee’s discretion shall deem necessary for the proper support, care, maintenance, and education, of the children under the age of 25. Any net income not distributed shall be accumulated and added to principal.
  2. When my living children attain the age of 25, the Trustee shall divide the trust estate into shares equivalent to the number of my children then living and distribute each share free of trust.
  3. To carry out the purpose of any Trust created under this paragraph and subject to any limitations stated elsewhere in this will, the trustee is vested with the following power with respect to the trust estate and any part of it, in addition to those powers now or hereafter conferred by law:
  1. To continue to hold any property and to operate at the risk of the trust estate any business received or acquired under the trust by the Trustee as long as the Trustee shall deem advisable;
    1. To manage, control, grant options on, sell (for cash or on deferred payments), convey, exchange, partition, divide, improve, and repair trust property;
    1. To lease trust property for any purpose or beyond the term of the trust;
    1. To borrow money, and to encumber or hypothecate trust property by mortgages, deed of trust, pledge, or otherwise;
    1. To carry, at the expense of the trust, insurance of such kinds and in such amounts as the Trustee shall deem advisable, at the expense of the trust;
    1. To invest and reinvest the trust estate in every kind of property, real, personal, or mixed, and every kind of investment, specifically including, but not way of limitation, common shares, shares of investment trusts, investment companies, and mortgage participation, which men of prudence, discretion, and intelligence acquire for their own account, and any common trust fund administered by any Trustee under this will.
    1. The Trustee shall have the power, exercisable in the Trustee’s discretion, to determine what is principal or income of the trust estate and to apportion and allocate receipts and expenses and other charges between these accounts, including also the power to charge in whole or in part against principal, or to amortize out of or charge forthwith to income, premiums paid on the purchase of bonds or other obligations;
  2. The Trustee in the Trustee’s discretion may make payments to a minor or other beneficiary under disability by making payments to the guardian of his person, or to any suitable person with whom he/she resides, or the Trustee may apply payments directly for the beneficiary’s benefit. The Trustee in the Trustee’s discretion may make payments directly to a minor if in the Trustee’s judgment he/she is of sufficient age and maturity to spend the money properly.
  • If above Trustees shall for any reason fail to qualify or cease to act as the Trustee, I appoint the Wells Fargo Bank or equivalent financial institution as the Trustee. The term “the Trustee” as used in this will shall include any trustee named in this will. No bond shall be required of any person named as the trustee in this will.
  • If my x wife does not survive me at my death and any of my children are minors, I appoint my sister xyz Shah for each of my kids as guardian. If my sister does not act as guardian, I appoint my brother-in-law, xyz Shah.
  • DEBT

I direct that as soon as is practical after my death, the executor named pursuant to this Will review all of my just debts and obligations, including last illness and funeral expenses, except for those secured long-term debts that may be assumed by the beneficiary of such property, unless such assumption is prohibited by law or on agreement by the beneficiary. The executor is further directed to pay any attorneys’ fees and any other estate administration expenses. The executor shall pay these just debts only after a creditor provides timely and sufficient evidence to support its claim and in accordance with applicable state law.

I direct that any estate, inheritance, and succession taxes, including any interest and penalties thereon, imposed by the federal government or any state, district, or territory, attributable to assets includible in my estate, passing either under or outside of this Will, be apportioned among the persons interested in my estate in accordance with applicable state and federal law. My executor is authorized and directed to seek reimbursement from the beneficiaries of my estate of any taxes paid by my executor to the extent allowed by law.

If my executor cannot collect from any person interested in the estate the amount of tax apportioned to that person, the amount not recoverable will be equitably apportioned among the other persons interested in the estate who are subject to apportionment.

  • GENERAL BEQUEST

Upon my death, I hereby direct that all my assets be liquidated including, but not limited to my solely owned primary, all stocks, retirement, and cash accounts.

  1. The persons named below shall be given the following estate percentage, if owned by me at the time of my death:

My mother ________________ and my father ______________ shall be entitled to 20% of my estate.

My sister _____________________ shall be entitled to 20% of my estate

My brother in law___________________ shall be entitled to 5% of my estate.

I further declare that I have friends who are also listed as beneficiaries of this will:

Friend name _________________________5%

Friend name _________________________5%

Friend name _________________________5%

  • REVOCATION OF PREVIOUS WILLS

I hereby revoke all wills and codicils that I previously made.

WITNESSES

We, the witnesses herein, append our names and signatures to this document. We declare that the testator signed and executed this document as the testator’s last will.

In the presence of the testator and each of the witnesses mentioned herein, we sign this will as witnesses to the testator’s signing.

To the best of our knowledge, the testator is an adult of a sound mind and under no constraint or undue influence and who is legally empowered to make a will. We therefore declare, under penalty of perjury, that the foregoing is true and correct, this ___________________ day of _________________ at _______________.

Signed:

____________________________

_____________________________

_____________________________

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