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IN WITNESS whereof I have to this my last Will and Testament set

By Stacy Ramos,2014-07-10 16:50
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IN WITNESS whereof I have to this my last Will and Testament set ...

     SAMPLE NO. 2

    W I L L

THIS IS THE LAST WILL AND TESTAMENT of me of

    in the State of South Australia.

    l. I DECLARE this to be my only current Will - revoking all others.

    2. I APPOINT my spouse …………………………………………………………and the

    persons who at the time of my death shall be holding the offices of Managing Director and

    General Manager respectively of WILL MAKERS PTY LIMITED to be Executors and

    Trustees of this my Will AND I DECLARE that the expression "my trustees" hereinafter

    appearing shall mean and include the Trustees or Trustee for the time being.

    3. I GIVE the whole of my estate of whatever nature to my trustees upon trust:-

    (a) to pay all my just debts and all my testamentary expenses and - unless at my death I have a

     pre-paid funeral - also my funeral expenses; and -

    (b) to distribute the residue of my estate to my said spouse …………….. absolutely

    PROVIDED my spouse shall be living one calendar month after the date of my death.

    4. Should my said spouse not be living one month after my death THEN I DIRECT my

    trustees to stand possessed of my estate subject as aforesaid upon trust for those of my

    children who shall be living at my death and shall attain (or shall have attained) the age of

    21 years and if more than one of them then they shall take in equal shares absolutely but

    subject to Clause 5 of this my Will

    5. Notwithstanding anything hereinbefore contained I DECLARE that:-

    (a) should my said children or any one or more of them die in my lifetime leaving a child or

    children living at my death who shall attain (or who shall have attained) the age of 21 years

     OR

    (b) should any one or more of my said children survive me but subsequently die before attaining

    21 years of age leaving a child or children then living who shall attain (or who shall have

    attained) the age of 21 years

    THEN IN EACH SUCH CASE such last-mentioned child or children shall take and if more than

    one equally between them the share in my estate which the child's or children's deceased parent

    would have taken had such deceased parent survived me and attained 21 years of age

    6. Should:-

    (a) the residue of my estate, or (b) any part or parts of it

    fail to vest absolutely in any person according to any prior words of my Will

THEN I DIRECT my trustees (but subject to the words early in the Will about paying expenses)

    to distribute my estate upon the following trusts:-

    (a) as to a ONE HALF share for those of my brothers AB - CD and EF who shall be living at

    my death and if more than one then in equal shares absolutely; (b) as to the remaining ONE HALF share for my spouse's brother GH absolutely

    PROVIDED HOWEVER that if my said brothers or my spouse's said brother or any one or more of

    them shall die in my lifetime leaving a child or children living at my death and who shall attain (or

    shall have at the date of my death already attained) the age of 21 years then such child or children

    shall take and if more than one equally between them the share which his her or their deceased

    parent would have taken under my Will had such deceased parent survived me. [many versions may apply] 7. Should my said spouse predecease me or fail to survive me as aforesaid THEN I DECLARE

    that my trustees (in addition to all statutory and implied powers) shall have the following additional

    powers:-

    (a) to retain any or all of the assets comprising my estate at the date of my death

    notwithstanding the nature thereof for as long as my trustees shall think fit BUT WITH

    POWER NEVERTHELESS to realise any part or parts of my estate should my trustees

    consider such a course necessary or advisable and in the best interests of the beneficiaries (b) at any time or times in their absolute discretion to apply the whole or any part of the income

    or capital of the expectant contingent or vested share or interest of any beneficiary taking

    under the trusts of this my Will in or towards the maintenance education or advancement or

    otherwise for the benefit in life of such beneficiary and for such purpose either themselves

    so to apply the same or to pay the same to the parent or parents guardian or guardians for the

    time being of such beneficiary without being bound to see to the application of it; (c) I EMPOWER my trustees at any time or times at their discretion to APPROPRIATE to any

     beneficiary who desires to accept any item comprising part of the residue of my estate as it

     exists at my death without any need to sell or otherwise realise that item, (or, in respect of an

     investment, to accept any investment in its place of investment at my death without any need to

     redeem or realise that investment), and in all such cases such appropriation shall be in or

     towards satisfaction of that beneficiary’s share in my estate AND I DECLARE that:-

     (i) my trustees shall determine the value of my estate or any part or parts of it in such

     manner as my trustees shall think fit (but only after taking into consideration any

     valuations made in the administration of my estate and any representations and

     valuations received from my beneficiaries)

     (ii) every such appropriation and determination by my trustees shall be final and binding

     in all respects.

(d)

    (e)

    Other clauses often go in above at (d) and (e) and one usually needs to have some more

    information to consider what other clauses suit their needs.

    e.g. if the couple has any children under the age of 21 years then sometimes one desires to

    permit any of them who are unmarried to have the use of the family residence say until

    21 years or until married (but not forever)

     [usually with that person paying the rates taxes insurance premiums and other out-goings

    payable in respect of the house but not ALWAYS - and sometimes rent-free and

    sometimes paying rent.

     So further information is needed as to what established wording is to be chosen from many

    variations according to one’s own decision. e.g. if there is any property in the estate being rented at death then often one should include the

    power to generally manage the renting and repairs and any tenants’ payments and including

    insurances etc

     the actual wording should be more detailed than the above short description.

    Other needs often apply to where the person has a business (sole proprietorship, partnership or

    company or Family Trust)

    And whether any land is farming land or is used for a business

    And in the above cases, whether any land is owned as tenants in common, partnership or solely

    owned or as usual in an average case owned jointly as joint tenants by a couple.

    Putting a “foot wrong” here COULD cause an estate to take 1-2 years instead of 2-4 months to finalise.

IN WITNESS whereof I have to this my last Will and Testament set my hand

    this day of 2003 or ………..etc

SIGNED by the testator as and for his )

    last Will and Testament in the presence )

    of us both present at the same time who )

    at his request in his presence and in the ) X ………………......................

    presence of each other have hereunto )

    subscribed our names as witnesses )

Witness …………………...................... Witness …………………....................

BUT YOU ARE WARNED TO ONLY USE THIS TO CONSIDER WHAT YOU MIGHT

    WANT FOR YOURSELF AND CONTACT WILL MAKERS BY EMAIL TO HAVE

    SOME COMMENTS. YOU MAY DRAFT YOUR OWN AND EMAIL FOR OUR

    COMMENTS WHAT YOU SHOULD DO NEXT BU T DO NOT SIGN BECAUSE OF THE LAW RELATING TO THE VALIDITY OF WILLS.

TO UNDERSTAND WHY TO “The Viewer should see “who to be executors”

HAVE THE BENEFITS OF WILL MAKERS PTY LTD & IT’S OFFICERS INVOLVED.

Have a free talk to Peter Pearce at Christian Aid & Business Services Inc.

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