COMPLEX WILL WITH TESTAMENTARY TRUST
(Minnesota – Court-Ready Template)
[// GUIDANCE: This template is drafted for use by Minnesota-licensed attorneys. Carefully review and customize all bracketed placeholders before execution. Citations are limited to core statutory provisions of which the accuracy is well-established.]
TABLE OF CONTENTS
- Document Header
- Definitions
- Operative Provisions (Will)
3.1. Revocation of Prior Wills
3.2. Identification of Family
3.3. Appointment of Personal Representative
3.4. Specific Devises & Bequests
3.5. Creation of Testamentary Trust - Representations & Warranties
- Covenants & Restrictions (Trust)
- Default & Remedies
- Risk Allocation
- Dispute Resolution
- General Provisions
- Execution Block
- Self-Proving Affidavit (Minnesota)
1. DOCUMENT HEADER
LAST WILL AND TESTAMENT
of
[TESTATOR FULL LEGAL NAME]
Effective Date: [EFFECTIVE DATE]
This Last Will and Testament (the “Will”) is executed in the State of Minnesota, pursuant to Minn. Stat. § 524.2-502, by [TESTATOR NAME], a resident of [COUNTY], Minnesota (the “Testator”).
2. DEFINITIONS
For ease of reference, the following terms are used with the meanings set forth below. Capitalized terms appearing elsewhere in this Will have the definitions assigned in this Section or by contextual usage.
“Accounting Period” – Each twelve (12)-month period ending [MONTH/DAY] unless the Trustee selects a different fiscal year.
“Child” or “Children” – The Testator’s lineal descendants of the first degree, whether born before or after the Effective Date, including legally adopted children but excluding step-children not legally adopted.
“Debts and Expenses” – All enforceable obligations of the Testator, including expenses of last illness, funeral, estate administration, taxes, and similar liabilities.
“Distribution Requirements” – The mandatory and discretionary distribution standards set forth in Sections 3.5.4 and 3.5.5.
“Personal Representative” – The fiduciary appointed under Section 3.3.
“Qualified Beneficiary” – As defined in Minn. Stat. § 501C.0103(19).
“Trust” – The testamentary trust created under Section 3.5 (the “Family Trust”).
“Trust Assets” – All property transferred to, and held in, the Trust from time to time.
“Trustee” – The person or entity serving as trustee of the Trust, initially appointed under Section 3.5.2.
[// GUIDANCE: Add or delete defined terms to fit the particular estate plan.]
3. OPERATIVE PROVISIONS (WILL)
3.1 Revocation of Prior Wills
I hereby revoke all prior wills and codicils.
3.2 Identification of Family
I am married to [SPOUSE NAME] (“Spouse”).
I have the following Children:
1. [CHILD #1 NAME, DOB]
2. [CHILD #2 NAME, DOB]
3. [ADDITIONAL CHILDREN OR “None at this time.”]
3.3 Appointment of Personal Representative
3.3.1 Primary. I nominate [PRIMARY PR NAME] as Personal Representative.
3.3.2 Successor. If the primary nominee is unwilling or unable to serve, I nominate [SUCCESSOR PR NAME].
3.3.3 Bond Waiver. No bond shall be required, to the fullest extent permitted by Minn. Stat. § 524.3-603.
3.3.4 Powers. The Personal Representative shall have all powers under Minn. Stat. §§ 524.3-715 & 524.3-717 and any additional powers granted herein.
3.4 Specific Devises & Bequests
3.4.1 Tangible Personal Property. I give all items listed on a valid written statement referenced in this Will under Minn. Stat. § 524.2-513.
3.4.2 Real Property. I devise my interest in the real property known as [PROPERTY ADDRESS OR LEGAL DESCRIPTION] to [BENEFICIARY], free of debt secured by said property unless otherwise stated.
3.4.3 Charitable Gifts. I give [GIFT AMOUNT] to [CHARITY NAME, EIN].
3.5 Creation of Testamentary Trust
3.5.1 Name. There is hereby created the “[FAMILY SURNAME] Family Trust.”
3.5.2 Trustee Appointment.
a. Initial Trustee: [INITIAL TRUSTEE NAME]
b. Successor Trustee: [SUCCESSOR TRUSTEE NAME]
3.5.3 Funding. Upon my death, the residue of my estate, after payment of Debts and Expenses and the gifts in Sections 3.4, shall pour over to the Trust.
3.5.4 Mandatory Distributions.
a. Health, Education, Maintenance, & Support (“HEMS”). The Trustee shall distribute as needed for the beneficiary’s HEMS.
b. Minor Children. Until each Child attains age [AGE – 25 recommended], distributions for that Child’s benefit may be made directly to a guardian, caregiver, or educational institution.
3.5.5 Discretionary Distributions. After satisfying Section 3.5.4, the Trustee may, in its sole and absolute discretion, distribute additional amounts to or for any beneficiary, considering outside resources.
3.5.6 Termination. The Trust shall terminate upon the first to occur of:
i. The youngest Child attaining age [TERMINATION AGE – 30 recommended]; or
ii. An earlier date the Trustee determines all objectives have been met and no Qualified Beneficiary objects in writing.
Upon termination, remaining Trust Assets shall be distributed outright to the then-living Children, per stirpes.
3.5.7 Spendthrift Provision. Interest of any beneficiary is not subject to voluntary or involuntary transfer, assignment, or attachment, as provided by Minn. Stat. § 501C.0502.
3.5.8 Fiduciary Standard. The Trustee shall administer the Trust in good faith, in accordance with its terms, the interests of beneficiaries, and Minn. Stat. §§ 501C.0801–501C.0808.
3.5.9 Trustee Powers. The Trustee shall have all powers under Minn. Stat. § 501C.0815, including, without limitation, to:
a. Invest and reinvest;
b. Retain non-productive assets;
c. Lease, mortgage, or sell real property;
d. Employ professionals;
e. Allocate receipts and disbursements under Minn. Stat. ch. 501C; and
f. Make tax elections.
3.5.10 Trustee Compensation & Indemnification.
a. Compensation. Reasonable compensation consistent with Minn. Stat. § 501C.0708.
b. Indemnification. The Trust shall indemnify the Trustee for claims arising from administration, except for willful misconduct or gross negligence. The Trustee’s liability is limited to Trust Assets (“Liability Cap”).
3.5.11 Trustee Removal & Vacancy. A majority of Qualified Beneficiaries may remove a Trustee under Minn. Stat. § 501C.0706, and appoint a successor satisfying any stated qualifications.
[// GUIDANCE: Consider adding provisions for special-needs beneficiaries, GST planning, or separate share trusts if warranted.]
4. REPRESENTATIONS & WARRANTIES
4.1 Capacity. The Testator affirms being of sound mind and at least eighteen (18) years of age.
4.2 Voluntariness. Execution is free from duress or undue influence.
4.3 Complete Disclosure. All material assets and obligations have been disclosed to drafting counsel to the best of Testator’s knowledge.
4.4 No Contradictory Instruments. Testator is not party to any contract (e.g., prenuptial agreement) that would override this Will, except as disclosed in Schedule A (if any).
5. COVENANTS & RESTRICTIONS (Trust)
5.1 Trustee Covenants. Trustee shall:
a. Maintain accurate books and records;
b. Provide annual accountings within ninety (90) days after each Accounting Period;
c. Furnish tax information to beneficiaries;
d. Keep Trust Assets segregated from personal assets;
e. Obtain and maintain insurance appropriate to Trust Assets.
5.2 Co-Trustee Action. Unless otherwise stated, a majority of serving Trustees constitutes action; dissenting Trustees shall record dissent to avoid liability.
5.3 Notice & Cure. Beneficiaries must give written notice of alleged breach and a thirty (30)-day opportunity to cure before initiating judicial remedies, unless seeking injunctive relief to prevent irreparable harm.
6. DEFAULT & REMEDIES
6.1 Events of Default.
a. Material breach of fiduciary duty;
b. Fraud, misappropriation, or willful misconduct;
c. Incapacity or resignation of Trustee without qualified successor.
6.2 Remedies.
a. Removal of Trustee;
b. Surcharge against Trustee’s fiduciary bond (if any) or Trust Assets up to the Liability Cap;
c. Injunctive relief compelling or restraining actions related to Trust enforcement;
d. Recovery of attorney fees and costs from the culpable Trustee personally to the extent permitted by law.
7. RISK ALLOCATION
7.1 Indemnification. The Trust shall indemnify the Trustee against claims, liabilities, and expenses (including reasonable attorney fees) incurred by reason of administration, except to the extent arising from the Trustee’s willful misconduct or gross negligence.
7.2 Limitation of Liability. All liabilities of the Trustee shall be satisfied solely from Trust Assets; beneficiaries shall have no recourse against the Trustee’s personal assets absent judicial finding of willful misconduct or gross negligence.
7.3 Force Majeure. The Trustee is not liable for delay or failure caused by events beyond reasonable control, including natural disasters, war, terrorism, cyber-attacks, or changes in law, provided the Trustee acts diligently to mitigate effects.
8. DISPUTE RESOLUTION
8.1 Governing Law. This Will and the Trust shall be governed by, and construed in accordance with, the laws of the State of Minnesota.
8.2 Forum Selection. Exclusive jurisdiction and venue lie in the Probate Division of the District Court of [COUNTY] County, Minnesota.
8.3 Arbitration. By statute, probate matters are generally non-arbitrable; therefore, no arbitration clause is included.
8.4 Jury Waiver. No jury trial is available in uncontested probate proceedings.
8.5 Injunctive Relief. Nothing herein limits a beneficiary’s right to seek temporary or permanent injunctive relief to enforce the Trust or prevent waste of Trust Assets.
9. GENERAL PROVISIONS
9.1 Severability. If any provision is held invalid, the remaining provisions shall remain in full force to the maximum extent permitted.
9.2 No Contest Clause. Any beneficiary who contests this Will or Trust (except in good-faith interpretation) shall forfeit his or her interest, which shall be distributed as if the contesting beneficiary predeceased the Testator.
9.3 Amendment & Revocation. This Will may be amended only by a subsequent instrument executed with the formalities required under Minn. Stat. § 524.2-502. The Trust is revocable until my death.
9.4 Headings. Headings are for convenience only and do not affect interpretation.
9.5 Digital Assets. The Personal Representative and Trustee shall have the authority to access, manage, and transfer digital assets pursuant to Minn. Stat. §§ 521A.01 et seq.
9.6 Counterparts; Electronic Signatures. This Will may be executed in counterparts, each of which is deemed an original. Electronic signatures are not permitted for wills under current Minnesota law. Wet signatures are required.
10. EXECUTION BLOCK
IN WITNESS WHEREOF, I, [TESTATOR NAME], have signed this Will on the date first written above.
[TESTATOR NAME], Testator
ATTESTATION CLAUSE
We, the undersigned witnesses, hereby declare that on this [DAY] day of [MONTH], [YEAR], [TESTATOR NAME], in our joint presence, signed and declared this instrument to be his/her Last Will and Testament, and we, in the Testator’s presence and at the Testator’s request, and in the presence of each other, have subscribed our names as witnesses.
-
[WITNESS #1 NAME]
Address: [ADDRESS] -
[WITNESS #2 NAME]
Address: [ADDRESS]
[// GUIDANCE: Minnesota requires two disinterested witnesses who sign in the Testator’s presence. Ensure each is at least 18 and not a beneficiary.]
11. SELF-PROVING AFFIDAVIT (Minn. Stat. § 524.2-504)
STATE OF MINNESOTA )
) ss.
COUNTY OF [COUNTY] )
We, [TESTATOR NAME], [WITNESS #1 NAME], and [WITNESS #2 NAME], the Testator and witnesses, respectively, whose names are signed to the attached or foregoing instrument, being first duly sworn, declare to the undersigned authority that:
a. The Testator executed the instrument as the Testator’s Will;
b. The Testator signed willingly (or willingly directed another to sign for the Testator);
c. The Testator is at least 18 years of age and, to the best of our knowledge, of sound mind; and
d. Each witness signed the Will as witness in the presence of the Testator and of each other.
[TESTATOR NAME], Testator
[WITNESS #1 NAME], Witness
[WITNESS #2 NAME], Witness
Subscribed, sworn to, and acknowledged before me by [TESTATOR NAME], the Testator, and subscribed and sworn to before me by [WITNESS #1 NAME] and [WITNESS #2 NAME], witnesses, this ___ day of _, 20.
Notary Public
My Commission Expires: _____
[// GUIDANCE: Attach Schedule A for asset listings, beneficiary contact information, or any referenced disclosure schedules.]
End of Document