Clauses included in your Will:
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Each Will contains the following supplemental
documents:
1) Cover Page
2) Self-proving Affidavit
3) Instructions for Execution
4) Glossary/Memo to Testator
Plus the Will document itself.
Our wills contain the following clauses (all of
our documents are state specific and conform to the law of your particular state
of residence) :
1) Preamble - Names and identifies the
Testator.
2) Estate Administration and Expenses -
Select the means by which the Testator's estate is to pay the debts, expenses,
taxes, and costs of estate administration. Expenses may be paid out of the
Testator's residuary estate (i.e., assets left over after all specific and
general bequests have been fulfilled), out of all of the Testator's assets (so
that a proportionate amount is subtracted from all bequests, both general and
specific, to pay these expenses), or specific assets may be designated to be
used to pay these expenses.
3) Family Information - Identify Testator
immediate family, and all prior marriages.
4) Tangible Personal Property -
Distribute tangible personal assets by specific and/or general bequests and/or
allow items to pass through residuary estate. Name primary and successor
beneficiaries.
5) Real Property - Distribute real
property by specific and/or general bequests and/or allow items to pass
through residuary estate. Name primary and successor beneficiaries.
6) Cash - Distribute cash by
specific and/or general bequests and/or allow items to pass through residuary
estate. Name primary and successor beneficiaries.
7) Intangible Personal Property -
Distribute intangible personal assets by specific and/or general bequests
and/or allow items to pass through residuary estate. Name primary and
successor beneficiaries.
8) Charitable Donations - Make bequests to
charitable organizations. Name primary and successor beneficiaries.
9) Cancellation of Indebtedness - Cancel
all or a portion of debts owed to Testator.
10) Residue - Distribute all assets passing
through the residuary estate to any number of beneficiaries in fractional or
equal shares. Name primary and successor beneficiaries.
11) Minor Beneficiaries - Determine how
bequests to minor beneficiaries should be handled by Testator's personal
representative.
12) Children's Trust - Create Children's
Trust, name trustee and determine specifics regarding trust management.
13) Guardianship - Name guardians and
successor guardians for minor children.
14) Personal Representative - Appoint
personal representative(s) and successor personal representative(s). If
multiple personal representatives are named, determine how decisions are to be
made in the event of disagreement.
15) Executive Powers - Identify the powers
to be granted to personal representative(s).
16) Contest - Include ad valorem
(No Contest) clause.
17) Survivorship - Include requirement
that all beneficiaries under Will survive Testator by 30 days.
(Note: Particular clauses are omitted
for will variations. For example, there is no need for a guardianship
provision if the Testator has no children.)
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