LAST WILL AND TESTAMENT

and

TESTAMENTARY TRUST AGREEMENT

of [TESTATOR FULL LEGAL NAME]

(“Testator”)

Effective Date: [DATE OF EXECUTION]
Domicile & Governing Law: State of Nevada, United States of America
Probate Forum: The Eighth Judicial District Court, Clark County, Nevada (or other Nevada District Court having jurisdiction over the Testator’s estate)

[// GUIDANCE: Replace all bracketed placeholders before signing. Remove guidance comments in the final execution copy.]

TABLE OF CONTENTS

I. Document Header
II. Definitions
III. Operative Provisions (Will)
IV. Testamentary Trust – Operative Provisions
V. Representations & Warranties
VI. Covenants & Restrictions (Fiduciary Standards)
VII. Default & Remedies
VIII. Risk Allocation
IX. Dispute Resolution
X. General Provisions
XI. Execution Block
XII. Self-Proving Affidavit (Optional but Recommended)

I. DOCUMENT HEADER

A. Identification of Parties
1. Testator: [TESTATOR FULL LEGAL NAME], Social Security No. [SSN LAST 4], residing at [ADDRESS].
2. Personal Representative (“PR”): [PRIMARY PERSONAL REPRESENTATIVE]; Alternate: [ALTERNATE PR].
3. Trustee: [PRIMARY TRUSTEE]; Successor: [SUCCESSOR TRUSTEE].

B. Recitals
1. Testator is of legal age and sound mind.
2. Testator intends by this instrument to (a) revoke all prior wills and codicils, (b) dispose of Testator’s probate estate, and (c) create a testamentary trust (the “Trust”) for the benefit of the Beneficiaries, to be administered under Nevada law.

C. Consideration
Execution of this Will, and the Trust created herein, is made in contemplation of the natural love and affection Testator bears toward Testator’s family and other Beneficiaries and in reliance upon the fiduciary undertakings of the Personal Representative and Trustee.

II. DEFINITIONS

For ease of reference, capitalized terms have the meanings set forth below. Section and Article references cross-reference this instrument unless otherwise stated.

1. “Administrative Expenses” – All expenses allowable under Nev. Rev. Stat. (“NRS”) Chapters 132–150, including funeral costs, debts, taxes, and costs of estate or trust administration.
2. “Beneficiary/Beneficiaries” – Person(s) or entity(ies) entitled to distributions under Article IV; includes primary, contingent, and remainder beneficiaries.
3. “Children” – All biological and legally adopted descendants of the Testator, whether now living or hereafter born or adopted, excluding step-children unless specifically named.
4. “Descendants” – Children and the further lineal descendants of Children, per stirpes.
5. “Dispositive Provisions” – Sections III.C–III.F and Article IV addressing distribution of estate and Trust assets.
6. “Fiduciary” – The Personal Representative, Trustee, and any Successor Trustee acting under this instrument.
7. “HEMS Standard” – Distributions for the Beneficiary’s Health, Education, Maintenance, or Support, consistent with 26 C.F.R. § 25.2518-2(e)(5) (Treas. Reg.) and NRS 164.770(2).
8. “Personal Representative” – Executor or administrator of the Testator’s estate appointed herein and by the probate court.
9. “Residue/Residuary Estate” – All property subject to Testator’s testamentary disposition not otherwise effectively disposed of by prior sections of this Will.
10. “Spouse” – [SPOUSE FULL LEGAL NAME], if legally married to Testator at Testator’s death; if none, “Spouse” shall be disregarded.
11. “Trust” – The testamentary trust created under Article IV.
12. “Trust Assets” – All property transferred to and held by the Trustee under the Trust.
13. “Trustee” – The individual or corporate fiduciary named in Section I.A.3, together with any Successor Trustee.

III. OPERATIVE PROVISIONS (WILL)

A. Revocation of Prior Instruments

Testator hereby revokes all prior wills and codicils (NRS 133.110).

B. Appointment of Personal Representative

1. Primary PR: [PRIMARY PERSONAL REPRESENTATIVE].
2. Alternate PR: [ALTERNATE PR].
3. Bond: Waived unless required by court (NRS 142.020).

C. Payment of Debts & Administrative Expenses

The PR shall pay Administrative Expenses from the general estate, except those properly chargeable to Trust Assets.

D. Specific Bequests

[PLACEHOLDER – Insert any specific gifts, amounts, or devises of real or personal property.]

E. Tangible Personal Property Memorandum

Testator may leave a written, dated, and signed statement disposing of tangible personal property under NRS 133.045, incorporated herein by reference.

F. Residuary Estate Pour-Over to Trust

All property constituting the Residuary Estate shall pour over and be distributed to the Trustee to be held, administered, and distributed under Article IV.

IV. TESTAMENTARY TRUST – OPERATIVE PROVISIONS

A. Trust Creation & Funding

1. Name: “The [TESTATOR NAME] Family Testamentary Trust.”
2. Funding: (a) Property received from the PR under Section III.F; (b) any property payable to the Trust by beneficiary designation, court order, or otherwise.

B. Beneficiaries & Distributions

1. Primary Beneficiary: [PRIMARY BENEFICIARY].
2. Contingent Beneficiaries: [CONTINGENT BENEFICIARIES] per stirpes.
3. Discretionary Distributions: Trustee may distribute Trust income and principal to or for the HEMS of a Beneficiary, considering other resources reasonably available.
4. Mandatory Termination: Upon the earlier of (a) Beneficiary’s attainment of [AGE] years, or (b) twenty-one (21) years after the death of the last surviving Beneficiary alive at Testator’s death, the Trust shall terminate and the remaining Trust Assets shall vest outright in the then-current Beneficiaries, per capita.

C. Spendthrift Protection

All interests of Beneficiaries are subject to a spendthrift provision under NRS 166.120; no Beneficiary may voluntarily or involuntarily alienate or encumber his or her interest, and creditors may not reach such interest before actual distribution.

D. Trustee Powers

Except as limited herein, the Trustee shall have all powers granted under NRS 163.265 et seq., NRS 164.720, and customary fiduciary law, including but not limited to:
1. Investment under the Uniform Prudent Investor Act (NRS 164.705-.775);
2. Retention, sale, exchange, or lease of Trust Assets;
3. Distribution in cash or in kind;
4. Power to allocate receipts and disbursements between income and principal (NRS 164.780-.925);
5. Delegation to professionals, agents, or co-trustees;
6. Ability to decant or modify pursuant to NRS 163.556 (if applicable).

E. Successor & Additional Trustees

1. Acceptance: Successor Trustee accepts office by written instrument delivered to current Trustee or, if none, to the Beneficiaries.
2. Resignation: Thirty (30) days’ written notice to adult Beneficiaries and any co-Trustee.
3. Removal: A court of competent jurisdiction may remove any Trustee for cause, including breach of fiduciary duty or incapacity.

F. Accounting & Reporting

The Trustee shall provide annual written reports to adult Beneficiaries per NRS 165.147 unless waived in writing by all adult Beneficiaries.

G. Termination & Final Distribution

Upon termination, the Trustee shall settle all liabilities, then distribute remaining Trust Assets outright to the then-eligible Beneficiaries, subject to Section VII limitations.

V. REPRESENTATIONS & WARRANTIES

1. Capacity & Intent: Testator affirms being of sound mind and not under undue influence.
2. Accuracy of Information: Testator warrants that all personal and family information provided herein is accurate to the best of Testator’s knowledge.
3. Fiduciary Acceptance: Each Fiduciary selected represents willingness and legal capacity to serve. Acceptance is conclusively evidenced by signing in the Execution Block or otherwise acting.

VI. COVENANTS & RESTRICTIONS (FIDUCIARY STANDARDS)

1. Fiduciary Standard of Care: Each Fiduciary shall act with the care, skill, prudence, and diligence of a prudent person familiar with such matters, consistent with NRS 164.725.
2. No Self-Dealing: Except as expressly permitted by Section VI.3, no Fiduciary shall engage in self-dealing or borrow from the estate or Trust.
3. Permitted Transactions: A corporate Trustee may receive reasonable compensation and may acquire Trust Assets it manages in a fiduciary capacity if authorized by court order or consent of all adult Beneficiaries.
4. Conflict Disclosure: Any potential conflict of interest shall be disclosed in writing to the adult Beneficiaries within thirty (30) days of discovery.

VII. DEFAULT & REMEDIES

1. Events of Default
   a. Failure of a Fiduciary to perform statutory or contractual duties;
   b. Misappropriation or willful misconduct;
   c. Incapacity adjudicated by a court;
   d. Voluntary resignation without proper succession.
2. Notice & Cure
   The aggrieved Beneficiary shall give written notice specifying the default. The Fiduciary shall have thirty (30) days to cure or, if incapable, to resign.
3. Remedies
   a. Removal and appointment of a Successor Trustee or PR;
   b. Accounting surcharge to be satisfied solely from Fiduciary’s interest in Trust Assets unless otherwise ordered;
   c. Injunctive relief to prevent waste or dissipation of assets.
4. Attorney’s Fees & Costs
   The prevailing party in any fiduciary-related dispute shall be entitled to reasonable attorney’s fees and costs, payable from (i) the Fiduciary’s compensation, if at fault, or (ii) the Trust or estate, if acting in good faith.

VIII. RISK ALLOCATION

1. Trustee Indemnity
   To the fullest extent permitted by NRS 163.560, the Trustee shall be indemnified and held harmless out of the Trust Assets from any liability, loss, or expense incurred by reason of serving as Trustee, except for acts or omissions arising from gross negligence, bad faith, or willful misconduct.
2. Limitation of Liability
   The personal liability of any Fiduciary is strictly limited to the value of the Trust Assets over which the Fiduciary exercises control. No personal assets of the Fiduciary shall be subject to satisfaction of claims, except as provided by applicable law for willful misconduct.
3. Insurance
   The Trustee may procure fiduciary liability insurance, payable from Trust income or principal.
4. Force Majeure
   No Fiduciary shall be liable for delay or failure in performance due to events beyond reasonable control, including but not limited to natural disasters, governmental actions, or system failures.

IX. DISPUTE RESOLUTION

1. Governing Law
   This instrument and all disputes hereunder shall be governed by the substantive laws of the State of Nevada, without regard to conflicts-of-law principles.
2. Exclusive Forum
   All disputes shall be submitted to the appropriate Nevada state probate court.
3. Arbitration
   Arbitration is expressly not available.
4. Jury Waiver
   To the extent a jury might otherwise be available, the parties acknowledge that probate matters are tried without a jury pursuant to Nevada practice, and knowingly waive any right thereto.
5. Injunctive Relief
   Nothing herein limits the court’s equitable power to issue temporary, preliminary, or permanent injunctive relief to enforce the Trust terms.

X. GENERAL PROVISIONS

1. Amendments & Codicils
   Testator may amend or revoke this Will only by a later duly-executed will or codicil (NRS 133.110). The Trust may be modified or terminated only as provided herein or by applicable law.
2. Assignment
   No Beneficiary may assign, pledge, or encumber any expectancy or distribution prior to actual receipt.
3. Successors & Assigns
   References to Fiduciaries include duly appointed successors.
4. Severability
   If any provision is determined unenforceable, the remaining provisions shall remain in full force and effect.
5. Integration
   This instrument constitutes the entire testamentary disposition of the Testator and supersedes all prior inconsistent statements.
6. Digital/Electronic Signatures
   Nevada recognizes electronic wills under NRS 133.085. If executed electronically, all statutory requirements must be satisfied. [// GUIDANCE: Consult NRS 133.085 for specific technical standards.]
7. Counterparts
   This instrument may be executed in multiple counterparts, each deemed an original and together constituting one and the same document.

XI. EXECUTION BLOCK

IN WITNESS WHEREOF, I, [TESTATOR FULL LEGAL NAME], have hereunto set my hand, this ___ day of _, 20.

__________
[TESTATOR SIGNATURE]
[TESTATOR FULL LEGAL NAME]

ATTESTATION OF WITNESSES

We, the undersigned witnesses, hereby declare that on the date above written, [TESTATOR NAME], whom we know personally or whose identity has been satisfactorily established, declared this instrument to be Testator’s Last Will and Testament and Testamentary Trust Agreement, signed it in our presence, and requested us to act as witnesses. We now, at Testator’s request, in Testator’s presence and in each other’s presence, subscribe our names as witnesses, affirming that Testator appeared to be of sound mind and under no undue influence.

[// GUIDANCE: Nevada requires two competent witnesses (NRS 133.040). Both witnesses must be disinterested unless otherwise permitted.]

NOTARIZATION (Optional but advisable for Self-Proving)

State of Nevada )
County of ______ ) ss:

Subscribed, sworn to, and acknowledged before me on ___, 20_, by [TESTATOR NAME] and the above-named witnesses.

__________
Notary Public in and for said County and State
My Commission Expires: _______

XII. SELF-PROVING AFFIDAVIT (NRS 133.050)

State of Nevada )
County of ______ ) ss:

We, [TESTATOR NAME], [WITNESS #1 NAME], and [WITNESS #2 NAME], whose names are subscribed to the foregoing instrument, being first duly sworn, declare to the undersigned authority that the Testator executed the instrument as Testator’s Will; that Testator signed willingly (or willingly directed another to sign for Testator); that Testator executed it as Testator’s free and voluntary act for the purposes expressed; and that each of us, in the presence and hearing of each other, signed the Will as a witness, and to the best of our knowledge Testator was at the time eighteen (18) years of age or older, of sound mind, and under no constraint or undue influence.

[TESTATOR SIGNATURE]

[WITNESS #1 SIGNATURE]

[WITNESS #2 SIGNATURE]

Subscribed and sworn before me this ___ day of _, 20.

Notary Public for the State of Nevada
My Commission Expires: _______

[// GUIDANCE:
1. Attach separate beneficiary designation forms for non-probate assets (e.g., life insurance, retirement accounts) to ensure coordination with this Trust.
2. If minor Beneficiaries are anticipated, consider adding guardianship provisions in Section III or a stand-alone Minor’s Trust.
3. Review annually or upon major life events to ensure continued accuracy and tax effectiveness.
4. Nevada imposes no state estate tax, but federal estate/generation-skipping taxes may apply. Coordinate with tax counsel for large estates.
5. File a Notice of Existence of Trust (NRS 164.021) within 30 days after the grantor’s death to keep Trust terms private and avoid filing the entire instrument with the court.]

End of Document