Complex Will with Trust - Texas

LAST WILL AND TESTAMENT

OF [TESTATOR FULL LEGAL NAME]

TABLE OF CONTENTS

1. Document Header & Recitals
2. Definitions
3. Revocation, Debts & Taxes
4. Family Status Declaration
5. Specific Bequests
6. Residuary Estate & Testamentary Trust Creation

7. Testamentary Trust Terms
   7.1. Trust Estate & Funding
   7.2. Beneficiaries
   7.3. Distributions
   7.4. Termination

8. Appointment of Fiduciaries
   8.1. Executor
   8.2. Trustee
   8.3. Guardian of Minor Children

9. Fiduciary Administrative Powers

10. Fiduciary Standards & Reimbursement
11. Spendthrift & Creditor Protection
12. Default, Removal & Successor Provisions
13. Dispute Resolution & Forum Selection
14. Miscellaneous / General Provisions
15. Execution & Attestation
16. Self-Proving Affidavit (Texas Estates Code § 251.104)

1. DOCUMENT HEADER & RECITALS

I, [TESTATOR FULL LEGAL NAME], a resident of [COUNTY] County, Texas, being of sound mind and over eighteen (18) years of age, hereby declare this to be my Last Will and Testament (this “Will”), and I revoke all prior wills and codicils. This Will is made under and shall be governed by the laws of the State of Texas.

2. DEFINITIONS

Unless the context clearly requires otherwise, the following terms have the meanings set forth below. Defined terms are used throughout this Will with initial capitalization.

“Applicable Law” means the Texas Estates Code, the Texas Trust Code (Tex. Prop. Code Ann. §§ 111.001 et seq.), and all other Texas statutes governing wills, trusts, fiduciaries, and probate proceedings, as amended.

“Beneficiary” means any person or entity presently or contingently entitled to receive principal or income from the Trust.

“Executor” means the personal representative appointed in Section 8.1.

“Heir(s)” means the individuals identified in Section 4.

“Independent Administration” means an administration free of court supervision pursuant to Tex. Est. Code § 401.001.

“Qualified Trustee” means an individual or corporate trustee having the capacity to take, hold, and administer the Trust as required under Tex. Prop. Code Ann. § 112.008.

“Trust” means the testamentary trust created in Article 6 (the “[FAMILY] Trust”).

“Trust Estate” means all property, real or personal, tangible or intangible, that is transferred to the Trust, together with all substitutions, accretions, and proceeds thereof.

3. REVOCATION, DEBTS & TAXES

3.1 Revocation. I hereby revoke and annul all prior wills and codicils made by me.

3.2 Payment of Debts, Expenses, and Taxes. My Executor shall pay from my residuary estate (a) all enforceable debts and expenses of my last illness and funeral, (b) costs of administration, and (c) all estate, inheritance, and generation-skipping transfer taxes imposed by reason of my death, without apportionment, except as otherwise required by Applicable Law.

4. FAMILY STATUS DECLARATION

I am married to [SPOUSE NAME] (“Spouse”).
I have the following children: [CHILD 1 NAME], [CHILD 2 NAME], and [CHILD 3 NAME] (collectively, my “Children”).

5. SPECIFIC BEQUESTS

5.1 Tangible Personal Property. I give [DESCRIBE ITEM] to [BENEFICIARY NAME], if that Beneficiary survives me. I give [DESCRIBE ADDITIONAL ITEM] to [BENEFICIARY NAME], if that Beneficiary survives me. Any tangible personal property not effectively given by this section passes under Article 6.

5.2 Cash & Specific Gifts.
(a) $[AMOUNT] to [BENEFICIARY NAME/CHARITY].
(b) [Describe additional specific gifts].

If any specific gift lapses, such property shall pass to the Residuary Estate.

6. RESIDUARY ESTATE & TESTAMENTARY TRUST CREATION

6.1 Residuary Gift. I devise and bequeath the entire residue of my probate estate, real and personal, including lapsed legacies and failed devises, to the Trustee, IN TRUST, to be held, managed, and distributed as provided in Article 7.

6.2 Name of Trust. The trust created herein shall be known as the “[TESTATOR] Family Trust.”

7. TESTAMENTARY TRUST TERMS

7.1 Trust Estate & Funding

The Trust shall be funded with the Residuary Estate under Section 6.1 and any property received by the Trustee from any source willing or permitted to add property to the Trust.

7.2 Beneficiaries

(a) Primary Beneficiary: Spouse, if living.
(b) Secondary Beneficiaries: My Children, per stirpes.

7.3 Distributions

7.3.1 Income. The Trustee shall distribute net income at least annually as follows:
(i) All to Spouse during Spouse’s lifetime; if Spouse predeceases me, equally to my Children who survive me.

7.3.2 Principal. In addition to income distributions, the Trustee may distribute principal for a Beneficiary’s health, education, maintenance, and support (the “HEMS Standard”).

7.3.3 Mandatory Termination Distribution. Upon termination under Section 7.4, the Trust Estate shall be distributed outright, per stirpes, to the then-living Children; if none, to my then-living descendants, per stirpes.

7.4 Termination

The Trust shall terminate upon the earliest of:
(a) Spouse’s death and the youngest Child’s attaining age [30];
(b) Final distribution required by Applicable Law; or
(c) Twenty-one (21) years after the death of the last to die of my descendants living on the date of my death (Rule Against Perpetuities savings clause).

8. APPOINTMENT OF FIDUCIARIES

8.1 Executor

I appoint [PRIMARY EXECUTOR NAME] as Independent Executor of this Will. If [he/she] fails to qualify or ceases to serve, [SUCCESSOR EXECUTOR NAME] shall serve. The Executor shall serve without bond.

8.2 Trustee

I appoint [PRIMARY TRUSTEE NAME] as Trustee. If [he/she/it] fails to qualify or ceases to serve, [SUCCESSOR TRUSTEE NAME] shall serve. Corporate trustees may serve with compensation pursuant to their published fee schedule in effect at the time services are rendered.

8.3 Guardian of Minor Children

If my Spouse predeceases me or is unable to serve, I nominate [GUARDIAN NAME] as guardian of the person and estate of any minor Child.

9. FIDUCIARY ADMINISTRATIVE POWERS

The Executor and Trustee (each, a “Fiduciary”) shall have, without court order, all powers granted to a trustee under the Texas Trust Code, including the general powers under Tex. Prop. Code Ann. § 113.002 and the specific powers enumerated in §§ 113.011–113.029, including but not limited to:

(a) Buy, sell, lease, or exchange property;
(b) Invest and reinvest in assets authorized by the “prudent investor” standard;
(c) Employ professionals and delegate authority as permitted by Applicable Law;
(d) Make tax elections, file returns, and settle tax liabilities;
(e) Hold assets in nominee name;
(f) Divide or distribute in cash or in kind, with or without pro-rata allocation of tax basis.

10. FIDUCIARY STANDARDS & REIMBURSEMENT

10.1 Standard of Care. Each Fiduciary shall perform duties under applicable Texas law. In investing and managing Trust assets, the Trustee shall act as a prudent investor would, considering the Trust's purposes, terms, distribution requirements, and other circumstances, and exercising reasonable care, skill, and caution (Tex. Prop. Code § 117.004(a)).

10.2 Trustee Exculpation. To the extent permitted by Tex. Prop. Code § 114.007, I relieve the Trustee of liability for a breach of trust caused by ordinary negligence. This relief does not apply to a breach committed in bad faith, intentionally, or with reckless indifference to a Beneficiary's interest, or to any profit the Trustee derives from a breach. It is also subject to § 114.007(b)'s restriction on a term inserted through the Trustee's abuse of a fiduciary duty or confidential relationship with me. This paragraph does not relieve the Executor of any duty or liability imposed by law.

10.3 Reimbursement. The Trustee may obtain reimbursement from Trust property for qualifying advances and administration expenses as provided by Tex. Prop. Code § 114.063. The Executor may pay proper administration expenses from the probate estate as permitted by applicable law. This paragraph does not cap a Fiduciary's personal liability for a breach of duty.

11. SPENDTHRIFT & CREDITOR PROTECTION

To the maximum extent permitted by Texas Property Code § 112.035, no Beneficiary may voluntarily or involuntarily transfer an interest in Trust income or principal before payment or delivery by the Trustee. This restriction is subject to applicable law, including a court order for child support under Texas Family Code § 154.005.

12. DEFAULT, REMOVAL & SUCCESSOR PROVISIONS

12.1 Removal for Cause. A court of competent jurisdiction may remove a Fiduciary for (a) breach of fiduciary duty, (b) incapacity, (c) failure to comply with a court order, or (d) other grounds under Tex. Est. Code § 404.0035 (removal of independent executor with notice) or Tex. Prop. Code Ann. § 113.082 (removal of trustee).

12.2 Voluntary Resignation. An Executor wishing to resign shall file a written application with the court clerk, accompanied by the verified exhibit and final account required by Tex. Est. Code § 361.001. A Trustee may resign under the Trust’s terms or petition the court for permission to resign under Tex. Prop. Code § 113.081.

12.3 Successor Fiduciaries. A successor Executor must obtain the court appointment and qualify as required by the Estates Code; naming the successor here does not itself issue letters. A successor Trustee is selected under the Trust’s terms, with court appointment available if that method fails, and has the powers provided by Tex. Prop. Code §§ 113.083–.084.

13. DISPUTE RESOLUTION & FORUM SELECTION

13.1 Governing Law. This Will and the Trust shall be governed exclusively by the laws of the State of Texas.

13.2 Venue. Probate venue is determined under Texas Estates Code § 33.001. Venue for a trust action under Texas Property Code § 115.001 is determined under § 115.002, including its rules for trustees and pending estate administration.

13.3 Arbitration. Arbitration is expressly disclaimed and shall not apply to any dispute under this Will or the Trust.

13.4 Jury Trial. This Will does not waive any party’s right to a jury trial in a contested probate proceeding under Texas Estates Code § 55.002.

13.5 Injunctive Relief. A court with jurisdiction and proper venue may grant relief to enforce this Will or Trust as permitted by applicable law.

14. MISCELLANEOUS / GENERAL PROVISIONS

14.1 Headings & Gender. Headings are for convenience only. Words of any gender include all genders; words in the singular include the plural and vice versa.

14.2 Severability. If any provision is held invalid, the remaining provisions shall remain in full force, and the invalid provision shall be reformed to best effectuate my intent.

14.3 No Bond. Unless expressly required herein, no Fiduciary shall be required to give bond or other security.

14.4 Digital Signatures. A photocopy, PDF, or other reliable reproduction of this Will may be used for administrative purposes; however, only the original wet-ink signed instrument is intended for probate.

14.5 Integrated Instrument. This Will constitutes my entire testamentary plan, and no extrinsic evidence may be used to vary its unambiguous terms.

15. EXECUTION & ATTESTATION

IN WITNESS WHEREOF, I sign my name this ___ day of __________, 20__, at __________, Texas, declaring and publishing this instrument as my Last Will and Testament.

_______________________________
[TESTATOR FULL LEGAL NAME], Testator

We, the undersigned witnesses, sign our names to this Will in the Testator's presence and declare that the Testator, who is personally known to us, signed and declared this instrument to be the Testator's Last Will and Testament and asked us to sign as witnesses.

16. SELF-PROVING AFFIDAVIT

(Texas Estates Code § 251.104)

STATE OF TEXAS )
COUNTY OF ______)

Before me, the undersigned authority, on this day personally appeared [TESTATOR NAME], [WITNESS 1 NAME], and [WITNESS 2 NAME], known to me to be the Testator and the witnesses, respectively, whose names are signed to the attached or foregoing instrument. All being duly sworn, the Testator declared to me and to the witnesses in my presence that this instrument is the Testator's Last Will and Testament and that the Testator willingly made and executed it as the Testator's free act and deed. The witnesses declared to me in the Testator's presence and hearing that the Testator declared this instrument to be the Testator's Will, executed it as such, and wanted each witness to sign. Each witness declared that the witness signed the Will in the Testator's presence and at the Testator's request; that the Testator was then of sound mind and ☐ at least eighteen years old, ☐ under eighteen but then or previously lawfully married, or ☐ under eighteen and then a member of the United States armed forces, an auxiliary, or the United States Maritime Service; and that each witness was then at least fourteen years old.

Testator: ______________________________ [TESTATOR NAME]

Witness: ______________________________ [WITNESS 1 NAME]

Witness: ______________________________ [WITNESS 2 NAME]

Subscribed and sworn to before me by [TESTATOR NAME], Testator, and by [WITNESS 1 NAME] and [WITNESS 2 NAME], witnesses, this [____] day of [________________], 20[____].

(SEAL)

__________________________________
[NOTARY PUBLIC SIGNATURE]
Notary Public, State of Texas

My Commission Expires: ___________