Complex Will with Trust - Iowa

LAST WILL AND TESTAMENT

OF [TESTATOR FULL LEGAL NAME]

WITH THE [TRUST NAME] TESTAMENTARY TRUST

State of Iowa

DRAFTING AND SIGNING CHECKLIST

☐ Confirm the Testator's Iowa domicile, family information, and prior estate-planning documents.

☐ Confirm beneficiary names, survival periods, distribution ages, contingent gifts, and the intended meaning of “per stirpes.”

☐ Coordinate beneficiary designations, jointly owned assets, transfer-on-death arrangements, and trust funding with this Will.

☐ Obtain tax advice for estate, inheritance, generation-skipping, income-tax, and tax-apportionment provisions.

☐ If using a separate tangible-property writing, ensure it is dated, is in the Testator's handwriting or signed by the Testator, identifies items and distributees with reasonable certainty, and excludes property used in trade or business, as Iowa Code § 633.276 requires.

☐ For an in-person ceremony under Iowa Code § 633.279(1), use two competent witnesses who are at least sixteen years old. At the Testator's request, the witnesses must sign in the Testator's presence and in each other's presence after the Testator signs and declares the instrument to be the Testator's Will.

☐ Prefer two disinterested witnesses. Iowa Code § 633.281 does not invalidate a Will signed by an interested witness, but it can reduce the interested witness's gift unless two competent, disinterested witnesses also attest.

☐ Complete the optional self-proving affidavit substantially in the form prescribed by Iowa Code § 633.279(2).

ARTICLE I — DECLARATIONS AND REVOCATION

1.1 Testator

I, [TESTATOR FULL LEGAL NAME], residing at [ADDRESS], [COUNTY] County, Iowa, declare that I am of full age and sound mind and am making this instrument voluntarily as my Last Will and Testament (the “Will”).

1.2 Family Information

My marital status is: [MARRIED / UNMARRIED / DIVORCED / WIDOWED].

My spouse, if any, is [SPOUSE FULL LEGAL NAME].

My children are:

• [CHILD NAME], born [DATE];
• [CHILD NAME], born [DATE]; and
• [ADDITIONAL CHILDREN OR “NONE”].

References to my “descendants” include persons treated as my descendants under controlling law unless this Will expressly provides otherwise.

1.3 Revocation

I revoke all prior wills and codicils. This later Will is intended to effect revocation under Iowa Code § 633.284.

1.4 Survival Period

Unless this Will expressly provides otherwise, a beneficiary must survive me by thirty days to receive a gift. A beneficiary who does not satisfy that condition shall be treated for purposes of this Will as having predeceased me.

ARTICLE II — DEFINITIONS

“Court” means the Iowa District Court sitting in probate with jurisdiction and proper county venue under Iowa Code chapters 633 and 633A.

“HEMS” means health, education, maintenance, and support.

“Personal Representative” means the executor appointed under Article III to administer my probate estate.

“Residue” means all property passing under this Will that is not effectively disposed of by another provision.

“Trust” means the [TRUST NAME] Testamentary Trust created under Article VII.

“Trustee” means the acting trustee of the Trust, including a duly appointed successor.

ARTICLE III — APPOINTMENT OF FIDUCIARIES

3.1 Personal Representative

I nominate [PRIMARY PERSONAL REPRESENTATIVE NAME AND ADDRESS] as Personal Representative. If that person does not qualify or ceases to serve, I nominate [SUCCESSOR PERSONAL REPRESENTATIVE NAME AND ADDRESS]. Iowa Code § 633.294 gives first preference to the person designated in the Will, subject to qualification and Court appointment.

3.2 Personal-Representative Bond

I direct that no bond be required of a fiduciary nominated in this Will. Under Iowa Code § 633.172, this direction waives bond unless the Court finds good cause to require one.

3.3 Trustee

I appoint [PRIMARY TRUSTEE NAME AND ADDRESS] as Trustee. If that person does not accept or ceases to serve, I appoint [SUCCESSOR TRUSTEE NAME AND ADDRESS]. This designation is intended to fill a vacancy under Iowa Code §§ 633A.4104 and 633A.4105.

3.4 Trustee Bond

No Trustee shall be required by the terms of this Trust to give bond. This provision does not limit the Court's authority under Iowa Code § 633A.4102 to require a bond when necessary to protect beneficiaries.

3.5 Guardian Nomination

If both parents of a minor child of mine are deceased, I nominate [PRIMARY GUARDIAN NAME] as guardian. If that person cannot serve, I nominate [ALTERNATE GUARDIAN NAME]. Under Iowa Code §§ 232D.202 and 232D.308, the juvenile court gives preference to a qualified and suitable person nominated in a Will admitted to probate; the Court makes the appointment.

ARTICLE IV — DEBTS, EXPENSES, AND TAXES

4.1 Debts and Expenses

My Personal Representative shall pay from my probate estate my legally enforceable debts, funeral and burial expenses, and estate-administration expenses in the order controlling law requires.

4.2 Taxes

Except as another controlling instrument or mandatory law provides, all estate, inheritance, and generation-skipping transfer taxes attributable to property included in my taxable estate shall be paid from the Residue without apportionment. Iowa counsel and tax counsel must review this direction for the Testator's assets and intended tax allocation.

ARTICLE V — TANGIBLE PERSONAL PROPERTY

5.1 Separate Written List

I may leave a written statement, letter, or list disposing of tangible personal property under Iowa Code § 633.276. To be effective under that section, the writing must be dated, be in my handwriting or signed by me, and describe the items and distributees with reasonable certainty. It may not dispose of tangible personal property used in trade or business.

5.2 Remaining Tangible Property

I give tangible personal property not effectively disposed of by a valid Section 5.1 writing to [PRIMARY TANGIBLE-PROPERTY BENEFICIARY], if that beneficiary survives me by thirty days. Otherwise, that property becomes part of the Residue.

5.3 Allocation and Sale

My Personal Representative may distribute items in kind or sell an item when division or distribution is impracticable, subject to this Will and controlling law, and shall add net sale proceeds to the Residue.

ARTICLE VI — SPECIFIC GIFTS

6.1 Cash and Property Gifts

6.2 Failed Gifts

Unless this Will expressly provides another disposition or controlling law requires otherwise, a failed specific gift becomes part of the Residue.

ARTICLE VII — RESIDUE AND CREATION OF TESTAMENTARY TRUST

7.1 Gift of Residue

I give the Residue to the Trustee, in trust, to be held, administered, and distributed under this Will.

7.2 Trust Name

The trust created by this Article shall be known as the [TRUST NAME] Testamentary Trust.

7.3 Primary Beneficiary

During the lifetime of [PRIMARY BENEFICIARY NAME], the Trustee may distribute as much income and principal as the Trustee determines advisable for that beneficiary's HEMS, after considering other resources the Trustee knows are reasonably available.

7.4 Remainder at Primary Beneficiary's Death

At the primary beneficiary's death, the Trustee shall divide the remaining Trust property as follows:

• [PERCENTAGE]% to my descendants, per stirpes, subject to Section 7.5;
• [PERCENTAGE]% to [CONTINGENT BENEFICIARY]; and
• any unallocated remainder to [FINAL CONTINGENT BENEFICIARY OR CHARITY].

7.5 Continuing Shares

A share for a beneficiary younger than [FINAL DISTRIBUTION AGE] shall remain in a separate trust. The Trustee may distribute income and principal for that beneficiary's HEMS and shall distribute principal as follows:

• [FRACTION OR PERCENTAGE] at age [AGE 1];
• [FRACTION OR PERCENTAGE] of the remaining balance at age [AGE 2]; and
• the remaining balance at age [AGE 3].

7.6 Beneficiary Under Disability

If a distribution is payable to a beneficiary under a legal disability, the Trustee may pay the amount to the beneficiary or another person for the beneficiary's use or benefit as Iowa Code § 633A.4402(24) permits.

7.7 Spendthrift Provision

Each beneficiary's interest is held subject to a spendthrift trust. Voluntary and involuntary transfer, assignment, and encumbrance are restrained before receipt to the extent permitted by Iowa Code § 633A.2302, including that section's express exceptions.

7.8 Termination

The Trust terminates when its property has been fully distributed under this Article. Under Iowa Code § 633A.4402(25) and (32), the Trustee may make final distributions in divided or undivided interests, allocate particular assets, value Trust property, adjust valuation differences, and conclude administration.

ARTICLE VIII — TRUST ADMINISTRATION

8.1 General and Specific Powers

Subject to the Trust's purposes and the Trustee's fiduciary duties, the Trustee may exercise the powers conferred by this Will and Iowa Code §§ 633A.4401 and 633A.4402, including powers to retain, acquire, sell, exchange, lease, insure, repair, improve, and distribute Trust property; operate business interests; borrow and pledge Trust property; settle claims; employ professionals; maintain reserves; and execute useful instruments.

8.2 Governing Fiduciary Standards

The Trustee shall administer the Trust according to its terms and the Iowa Trust Code and shall not act in bad faith or disregard the Trust's purposes or beneficiaries' interests, as Iowa Code § 633A.4201 provides. The Trustee shall comply with the loyalty and impartiality rules in § 633A.4202 and the prudent-administration standard in § 633A.4203.

8.3 Prudent Investment

The Trustee shall invest and manage Trust property under Iowa Code § 633A.4302 by considering the Trust's purposes, terms, distribution requirements, and circumstances and exercising reasonable care, skill, and caution.

8.4 Delegation

The Trustee may delegate functions only within Iowa Code § 633A.4206. The Trustee shall not delegate the entire administration of the Trust or responsibility for discretionary-distribution decisions and shall exercise the required care, skill, and caution in selecting and monitoring an agent and setting the delegation's terms.

8.5 Information and Accounts

The Trustee shall keep qualified beneficiaries reasonably informed and provide the notices and accountings required by Iowa Code § 633A.4213. Unless properly waived, annual accounts shall be provided to the adult beneficiaries and representatives of minor or incompetent beneficiaries identified in that section.

8.6 Resignation and Removal

A Trustee may resign by a method permitted by Iowa Code § 633A.4106. A settlor, cotrustee, or beneficiary may petition for removal under § 633A.4107, and the Court may remove a Trustee or grant other relief on a statutory ground. The successor designated in Section 3.3 is nominated to serve when the prior Trustee ceases to serve.

8.7 Compensation and Expenditures

The Trustee is entitled to compensation under Iowa Code § 633A.4109. The Trustee is entitled to repayment from Trust property for expenditures to the extent provided by § 633A.4110.

8.8 Trustee Liability

No provision of this Will relieves a Trustee from liability to an extent prohibited by Iowa Code § 633A.4505, including an intentional breach, gross negligence, bad faith, reckless indifference to a beneficiary's interest, or profit derived from a breach. Personal liability arising from fiduciary contracts, torts, or ownership or control of Trust property is governed by § 633A.4601. This Will creates no separate damages cap, force-majeure excuse, or broader immunity.

ARTICLE IX — GENERAL PROVISIONS

9.1 Governing Law, Court Proceedings, and Jury Rights

Iowa law governs this Will and the Trust except when controlling law requires otherwise. Estate proceedings shall be brought in the Iowa District Court sitting in probate with jurisdiction under Iowa Code §§ 633.10, 633.12, and 633.13. Trust proceedings shall be brought in the Court with jurisdiction and venue under §§ 633A.6101 and 633A.6104. This Will does not impose a contractual jury waiver; Iowa Code § 633.311 makes will contests law actions to which civil-procedure rules, including jury-demand rules, apply.

9.2 Court Supervision and Alternative Dispute Resolution

This Will does not place the Trust under continuous court supervision. Court jurisdiction may be invoked as Iowa Code §§ 633A.6101 and 633A.6202 provide. The Trustee may use mediation, arbitration, or another alternative-dispute procedure within the power granted by § 633A.4402(31), but this Will does not mandate arbitration or displace a Court's authority or a nonwaivable right.

9.3 Signing Method

This form is designed for in-person execution under Iowa Code § 633.279(1). Iowa Code § 633.279(3)-(5) also addresses remote real-time presence and counterparts. Do not use a remote, electronic-presence, or counterpart process unless Iowa counsel supervises the ceremony and confirms compliance with all current signing and notarial requirements.

9.4 Severability

If a provision of this Will is held invalid or unenforceable, the remaining provisions shall continue to the extent they can operate consistently with my testamentary plan.

9.5 Headings and References

Headings are for convenience only. References to a statute include its valid successor provision when appropriate.

EXECUTION AND ATTESTATION

I, [TESTATOR FULL LEGAL NAME], sign this written instrument and declare it to be my Last Will and Testament on [DATE]. I request that the two witnesses identified below sign as witnesses in my presence and in each other's presence.

__________________________________
[TESTATOR FULL LEGAL NAME], Testator

WITNESS ATTESTATION

At the Testator's request, we sign as witnesses in the Testator's presence and in each other's presence. The Testator signed this instrument and declared it to be the Testator's Will. Each witness is at least sixteen years old and competent to be a witness generally in Iowa.

OPTIONAL SELF-PROVING AFFIDAVIT

This form tracks Iowa Code § 633.279(2). The Testator and witnesses must make the acknowledgment and affidavits before a person authorized to administer oaths and take acknowledgments, evidenced by the officer's certificate under seal.

State of [STATE]

County of [COUNTY]

We, the undersigned, [TESTATOR NAME], [WITNESS 1 NAME], and [WITNESS 2 NAME], the Testator and the witnesses, respectively, whose names are signed to the attached or foregoing instrument, being first duly sworn, declare to the undersigned authority that at the date of the instrument, we all knew the identity of each other; the instrument was exhibited to the witnesses by the Testator, who declared it to be the Testator's Last Will and Testament and signed it, or directed another to sign it, at [CITY OR LOCATION], in [COUNTY] County, [STATE], on the date shown in the instrument and in the presence of each other as subscribing witnesses; that we, as witnesses, declare that in our presence the Testator executed and acknowledged the Will as the Testator's Will and that we, in the Testator's presence, at the Testator's request, and in the presence of each other, subscribed our names as attesting witnesses on the date of the Will; and that the witnesses were sixteen years of age or older.

__________________________________
[TESTATOR NAME], Testator

__________________________________
[WITNESS 1 NAME], Witness

__________________________________
[WITNESS 2 NAME], Witness

Subscribed, sworn, and acknowledged before me by [TESTATOR NAME], the Testator, and subscribed and sworn before me by [WITNESS 1 NAME] and [WITNESS 2 NAME], witnesses, this [DAY] day of [MONTH], [YEAR].

[NOTARIAL STAMP]

__________________________________
[SIGNATURE OF NOTARIAL OFFICER]

__________________________________
[TITLE OF OFFICE]

My commission expires: [DATE]

SOURCES AND REFERENCES

• Iowa Code chapter 633 — Probate Code
• Iowa Code § 633.264 — Disposal of property by will
• Iowa Code § 633.276 — Separate identification of bequest
• Iowa Code § 633.279 — Signed and witnessed; self-proved and remote wills
• Iowa Code §§ 633.280-633.281 — Competency and interest of witnesses
• Iowa Code § 633.284 — Revocation, cancellation, and revival
• Iowa Code §§ 633.10-633.13 — Probate jurisdiction
• Iowa Code § 633.172 — Will waiver of bond
• Iowa Code §§ 633.295, 633.311, and 633.319 — Proof and will contests
• Iowa Code §§ 232D.202 and 232D.308 — Guardian nominated by will
• Iowa Code chapter 633A — Iowa Trust Code
• Iowa Code § 633A.2302 — Spendthrift protection
• Iowa Code §§ 633A.4102-633A.4213 — Office and duties of trustee
• Iowa Code §§ 633A.4302, 633A.4401, and 633A.4402 — Investment and powers
• Iowa Code §§ 633A.4505 and 633A.4601 — Exculpation and personal liability
• Iowa Code §§ 633A.6101, 633A.6104, and 633A.6202 — Jurisdiction, venue, and petitions