Complex Will with Trust - Maryland

LAST WILL AND TESTAMENT

WITH TESTAMENTARY FAMILY TRUST

of

[TESTATOR FULL LEGAL NAME]

TABLE OF CONTENTS

1. Testator and Family Information
2. Revocation and General Intent
3. Personal Representative and Estate Administration
4. Specific Gifts
5. Residuary Estate and Testamentary Trust
6. Family Trust Terms
7. Trustee Administration
8. Guardian Appointment
9. Fiduciary Remedies and Risk Allocation
10. General Provisions
11. Physical Execution and Attestation Recital

1. TESTATOR AND FAMILY INFORMATION

1.1 Testator

I, [TESTATOR FULL LEGAL NAME], residing at [ADDRESS], declare this instrument to be my Last Will and Testament. I am at least eighteen years of age and legally competent to make a will under Md. Code Ann., Est. & Trusts § 4-102(a).

1.2 Family

My spouse is [SPOUSE FULL LEGAL NAME / “I am not married”].

My children are:

1. [CHILD 1 FULL LEGAL NAME], born [DATE];
2. [CHILD 2 FULL LEGAL NAME], born [DATE]; and
3. [ADDITIONAL CHILDREN OR “None”].

For this Will, “descendants” includes legally adopted descendants. “By family branch” means that a deceased descendant's share passes to that descendant's then-living descendants in equal shares at the first generation with living members.

1.3 Survival Requirement

Except where this Will expressly provides otherwise, a beneficiary must survive me by [30] days to take under this Will. A beneficiary who does not satisfy that requirement shall be treated as having predeceased me.

2. REVOCATION AND GENERAL INTENT

2.1 Revocation

I revoke all prior wills and codicils made by me.

2.2 Dispositive Intent

I intend to dispose of property over which I have testamentary power, subject to enforceable debts, expenses, taxes, surviving-spouse rights, ownership rights, beneficiary designations, and other rules that apply at my death.

2.3 Governing Law

This Will and each testamentary trust created by it shall be governed by Maryland law, except where another jurisdiction's mandatory law applies to particular property or administration.

3. PERSONAL REPRESENTATIVE AND ESTATE ADMINISTRATION

3.1 Appointment

I appoint [PRIMARY PERSONAL REPRESENTATIVE NAME], of [ADDRESS], as Personal Representative of my estate.

If that person does not serve or ceases to serve, I appoint [SUCCESSOR PERSONAL REPRESENTATIVE NAME], of [ADDRESS], as successor.

Personal representatives named in a will admitted to probate have the first appointment priority under Md. Code Ann., Est. & Trusts § 5-104.

3.2 Bond

I expressly excuse bond to the fullest extent permitted by Md. Code Ann., Est. & Trusts § 6-102. This direction does not eliminate the bond that subsection (b) may require to secure payment of debts and Maryland inheritance taxes, or the court's authority to require a bond for good cause.

3.3 Duties and Powers

My Personal Representative shall settle and distribute my estate under the fiduciary standard in Md. Code Ann., Est. & Trusts § 7-101. Except as limited by this Will or a court order, the Personal Representative may exercise the powers in § 7-401 without prior court approval, including authority to:

1. retain, invest in, sell, mortgage, pledge, exchange, or lease estate property;
2. deposit estate funds, borrow money, and pay valid claims, taxes, and administration expenses;
3. insure estate property and the Personal Representative against third-party liability;
4. continue, incorporate, or convert a business as authorized by the statute;
5. employ auditors, investment advisers, and persons with special skills for reasonable compensation;
6. prosecute, defend, compromise, settle, or submit appropriate claims and proceedings to arbitration; and
7. make partial or final distributions in cash, in kind, or both.

3.4 Debts, Expenses, and Taxes

My Personal Representative shall pay enforceable debts, funeral and administration expenses, and taxes properly chargeable to my estate. A Maryland attorney shall insert or confirm any tax-apportionment direction before execution: [TAX APPORTIONMENT TERMS].

4. SPECIFIC GIFTS

I make the following gifts, subject to valid liens and ownership rights:

1. [DESCRIPTION OF PROPERTY OR AMOUNT] to [BENEFICIARY];
2. [DESCRIPTION OF PROPERTY OR AMOUNT] to [BENEFICIARY]; and
3. [ADDITIONAL GIFTS OR “None”].

If a beneficiary of a specific gift does not survive me as required by Section 1.3 and this Will does not provide a substitute recipient, that gift shall become part of the Residuary Estate, subject to any mandatory anti-lapse rule.

5. RESIDUARY ESTATE AND TESTAMENTARY TRUST

5.1 Residuary Gift

I give all the rest, residue, and remainder of my probate estate to the Trustee named below, IN TRUST, to be held as the “[TESTATOR SURNAME] Family Trust” under Sections 5 through 7 of this Will.

5.2 Creation and Funding

The Family Trust is a testamentary trust created at my death. Its property consists of the Residuary Estate and any other property validly transferred to it.

5.3 Trustee Appointments

I appoint [PRIMARY TRUSTEE NAME], of [ADDRESS], as Trustee.

If that person does not serve or ceases to serve, I appoint the following successors in order:

1. [FIRST SUCCESSOR TRUSTEE NAME];
2. [SECOND SUCCESSOR TRUSTEE NAME]; and
3. [CORPORATE FIDUCIARY OR SELECTION METHOD].

A required vacancy shall be filled in the order stated in Md. Code Ann., Est. & Trusts § 14.5-704: first by a successor designated by this Will, then by unanimous agreement of the qualified beneficiaries, and then by court appointment.

5.4 Trustee Bond

This Will does not require a Trustee to give bond. Under Md. Code Ann., Est. & Trusts § 14.5-702, a bond is required only if the court makes the statutory findings and has not dispensed with the requirement.

6. FAMILY TRUST TERMS

6.1 Spouse's Lifetime Share

If my spouse survives me as required by Section 1.3, the Trustee shall administer the Family Trust as follows during my spouse's lifetime:

1. pay all net income to my spouse at least quarterly;
2. distribute as much principal as the Trustee determines advisable for my spouse's health, education, maintenance, or support; and
3. consider my spouse's other resources only to the extent the Trustee considers appropriate.

If I am not married at death or my spouse does not survive me as required, the Trust shall proceed directly under Section 6.2.

6.2 Division After Spouse's Death

At my spouse's death, or immediately at my death if Section 6.1 does not apply, the Trustee shall divide the remaining Trust property into equal shares, one for each then-living child of mine and one for each deceased child of mine who has then-living descendants.

The share allocated to a deceased child shall pass among that child's descendants by family branch. If that child has no then-living descendants, the share shall be reallocated among the other shares in the same manner.

6.3 Separate Trust for a Child or Descendant

Each share allocated to a child or descendant shall be held as a separate trust. The Trustee may distribute income and principal for that beneficiary's health, education, maintenance, or support.

Subject to the Trustee's authority to retain a reasonable reserve, the Trustee shall distribute:

1. one-third of the beneficiary's separate trust at age [25];
2. one-half of the remaining balance at age [30]; and
3. the remaining balance at age [35].

If the beneficiary has already reached a stated age when the separate trust is created, the corresponding distribution shall be made after the Trustee completes a reasonable administrative review.

6.4 Death Before Final Distribution

If a beneficiary dies before receiving the beneficiary's entire separate trust, the remaining property shall pass:

1. to that beneficiary's then-living descendants by family branch; or
2. if none, to the then-living descendants of the nearest ancestor of that beneficiary who is also my descendant; or
3. if none, to [ALTERNATE BENEFICIARY OR CHARITY].

6.5 Spendthrift Provision

Each beneficiary's interest is held subject to a spendthrift trust. Before actual receipt, the interest may not be voluntarily or involuntarily transferred, judicially foreclosed, or attached, to the extent provided by Md. Code Ann., Est. & Trusts § 14.5-504 and the other mandatory rules of Title 14.5, Subtitle 5.

6.6 Perpetuities Savings Clause

Maryland preserves its recognized common-law rule against perpetuities in Md. Code Ann., Est. & Trusts § 11-102, subject to statutory exceptions. Unless a Maryland attorney intentionally drafts and confirms an exception, each trust created by this Will shall terminate no later than twenty-one years after the death of the last survivor of my children and descendants living at my death. The Trustee shall then distribute the remaining property to the persons then entitled to receive or benefit from it, in proportions that most closely carry out this Will.

7. TRUSTEE ADMINISTRATION

7.1 Governing Duties

The Trustee shall administer each trust reasonably under the circumstances and according to its terms, purposes, and beneficiary interests as required by Md. Code Ann., Est. & Trusts § 14.5-801. The Trustee shall act solely in the beneficiaries' interests under § 14.5-802 and exercise the care, skill, and caution required by § 14.5-804.

7.2 Trustee Powers

Subject to those duties, the Trustee may exercise the powers in Md. Code Ann., Est. & Trusts §§ 14.5-815, 14.5-816, and 15-102 without prior court authorization except where this Will, the statute, or a court order provides otherwise. Those powers include authority to:

1. invest in, retain, sell, mortgage, exchange, or lease Trust property;
2. deposit Trust funds, borrow to protect Trust property, and pledge property as security;
3. compromise obligations and pay valid claims, taxes, assessments, and administration expenses;
4. insure Trust property and the Trustee against third-party liability;
5. employ agents, attorneys, auditors, investment advisers, and persons with special skills, subject to any required court approval of fees;
6. continue or incorporate a business and hold entity interests;
7. prosecute, defend, or submit appropriate actions and claims to arbitration;
8. exercise the digital-assets authority conferred by this Will and Title 15, Subtitle 6; and
9. exercise the environmental and conservation-easement powers stated in § 14.5-816.

7.3 Notices, Information, and Reports

The Trustee shall provide the notices and information required by Md. Code Ann., Est. & Trusts § 14.5-813, including the 60-day acceptance notice and the 90-day irrevocable-trust notice when applicable. On request by a qualified beneficiary, the Trustee shall provide the annual and termination reports required by that section.

7.4 Compensation

The Trustee is entitled to compensation that is reasonable under the circumstances under Md. Code Ann., Est. & Trusts § 14.5-708 unless a reviewed compensation schedule is inserted here: [COMPENSATION TERMS OR “Reasonable compensation under applicable law”].

8. GUARDIAN APPOINTMENT

If I am the surviving parent of an unmarried minor child at my death and no agreement or court order prohibits the appointment, I appoint [PRIMARY GUARDIAN NAME] as guardian of the person of that child and [SUCCESSOR GUARDIAN NAME] as successor guardian under Md. Code Ann., Est. & Trusts § 13-701.

9. FIDUCIARY REMEDIES AND RISK ALLOCATION

9.1 Removal and Remedies

This Will imposes no mandatory notice-and-cure period before a person seeks relief for breach of trust. Trustee removal is governed by Md. Code Ann., Est. & Trusts § 14.5-706 and related law. Remedies for a breach that has occurred or may occur are governed by § 14.5-901 and may include performance, injunction, restoration, accounting, suspension, removal, reduced compensation, and other appropriate relief.

9.2 No Blanket Exculpation or Indemnity

This Will does not create a blanket indemnity or relieve a Trustee from liability for breach of trust. Any exculpation is limited by Md. Code Ann., Est. & Trusts § 14.5-906, including its rules for bad faith, reckless indifference, unreasonableness, abuse of a fiduciary relationship, and Trustee-drafted terms.

9.3 Personal Liability to Third Persons

The Trustee's personal liability on a properly entered contract is governed by Md. Code Ann., Est. & Trusts § 14.5-908. Nothing in this Will converts that conditional contract rule into a blanket limitation of all liabilities to Trust assets.

9.4 No Mandatory Arbitration or Jury Waiver

This Will does not require arbitration and does not waive any jury right that may otherwise exist. Sections 3.3 and 7.2 preserve the fiduciaries' statutory authority to submit appropriate claims to arbitration.

9.5 Courts With Jurisdiction

Probate and estate-administration matters are subject to the authority expressly granted to the Orphans' Court under Md. Code Ann., Est. & Trusts § 2-102. The Orphans' Court may not exercise jurisdiction not expressly conferred. Trust matters requiring general equity jurisdiction belong in a court with equity power under § 14.5-201; Maryland circuit courts have full equity powers under Md. Code Ann., Cts. & Jud. Proc. § 1-501. This Will does not direct injunctive or other general equitable trust relief to the Orphans' Court.

10. GENERAL PROVISIONS

10.1 Digital Assets and Electronic Communications

Under Md. Code Ann., Est. & Trusts § 15-603(b), I expressly consent to and authorize disclosure to my Personal Representative and Trustee of all digital assets in which I have a transferable right or interest, including the content and catalogue of electronic communications, to the fullest extent permitted by applicable law. My fiduciaries may identify, preserve, manage, transfer, or dispose of those assets for estate or Trust administration.

This direction remains subject to a qualifying online-tool direction that overrides a contrary will direction under § 15-603(a), the limitations in § 15-604, applicable federal law, and the custodian procedures in § 15-606 and related sections. It does not authorize circumvention of security controls or expand my own rights in an account.

10.2 Severability

If a provision is held invalid, the remaining provisions shall remain effective. A court may apply any reformation or equitable remedy authorized by law; this Section does not itself enlarge a court's authority.

10.3 Physical-Execution Form; Electronic-Will Caution

The execution block below is drafted for a paper will signed and witnessed in physical presence under Md. Code Ann., Est. & Trusts § 4-102(b). Maryland also permits an electronic will or remotely witnessed will, but only through the separate requirements in § 4-102(c) or (d), including creation of a certified will and the prescribed supervising-attorney or notarial documents. Do not convert this physical-execution form to electronic or remote execution without Maryland counsel supervising full statutory compliance.

10.4 Entire Will

This instrument contains my testamentary directions, together with any later codicil executed with the formalities required by law.

11. PHYSICAL EXECUTION AND ATTESTATION RECITAL

I, [TESTATOR FULL LEGAL NAME], sign and declare this instrument to be my Last Will and Testament. I sign willingly as my free and voluntary act, while legally competent and under no constraint or undue influence.

Date: [DATE]

Place: [CITY/COUNTY], Maryland

Testator signature: ___________________________________

Printed name: [TESTATOR FULL LEGAL NAME]

We, the undersigned credible witnesses, recite that on the date stated above:

1. the Testator signed this written Will, or another person signed it for the Testator in the Testator's physical presence and at the Testator's express direction;
2. the Testator declared or acknowledged this instrument to be the Testator's Will;
3. each of us was in the Testator's physical presence when we attested and signed the Will;
4. the Testator acted willingly and appeared to us to be at least eighteen years old, legally competent, and under no constraint or undue influence; and
5. each of us signs as a witness at the Testator's request.

SOURCES AND REFERENCES

• Md. Code Ann., Est. & Trusts: § 4-102 — capacity and execution; § 5-303 — attestation recital
• Md. Code Ann., Est. & Trusts: § 5-104 — appointment priority; § 6-102 — bond; § 7-101 — duties; § 7-401 — powers
• Md. Code Ann., Est. & Trusts: § 11-102 — rule against perpetuities; § 13-701 — guardian appointment
• Md. Code Ann., Est. & Trusts: § 14.5-504 — spendthrift; § 14.5-702 — bond; § 14.5-704 — vacancy; § 14.5-706 — removal; § 14.5-708 — compensation
• Md. Code Ann., Est. & Trusts: § 14.5-801 — administration; § 14.5-802 — loyalty; § 14.5-804 — prudence; § 14.5-813 — notices and reports; §§ 14.5-815 and 14.5-816 — powers; § 15-102 — fiduciary powers
• Md. Code Ann., Est. & Trusts: § 14.5-901 — remedies; § 14.5-906 — exculpation; § 14.5-908 — contract liability
• Md. Code Ann., Est. & Trusts: §§ 15-601 through 15-606 — digital assets
• Md. Code Ann., Est. & Trusts § 2-102 — Orphans' Court authority; § 14.5-201 — trust equity jurisdiction; Md. Code Ann., Cts. & Jud. Proc. § 1-501 — circuit-court equity power

END OF DOCUMENT