DISCLAIMER
This template is provided for general informational purposes only and does not constitute legal advice. Use of this form does not create an attorney–client relationship. Vermont probate and trust law imposes numerous technical requirements; practitioners must review relevant statutes (e.g., Vt. Stat. Ann. tit. 14 & 14A) and local probate court rules, verify current law, and tailor all bracketed provisions before execution.
[// GUIDANCE: Always conduct a full conflicts check, confirm testamentary capacity, and ensure proper witnessing formalities under 14 V.S.A. § 5 et seq. prior to signing.]

COMPLEX WILL WITH TESTAMENTARY TRUST

(LAST WILL AND TESTAMENT OF [TESTATOR NAME])

TABLE OF CONTENTS

I. Document Header
II. Definitions
III. Operative Provisions
    A. Revocation of Prior Wills
    B. Family Identification
    C. Appointment of Personal Representative
    D. Payment of Debts & Expenses
    E. Specific & General Bequests
    F. Residuary Disposition and Creation of Testamentary Trust
IV. Representations & Warranties
V. Covenants & Restrictions
VI. Default & Remedies
VII. Risk Allocation
VIII. Dispute Resolution
IX. General Provisions
X. Execution Block
XI. Self-Proving Affidavit (Vermont)

I. DOCUMENT HEADER

1. Title. “Last Will and Testament and Testamentary Trust of [TESTATOR NAME]” (the “Will”).
2. Testator. I, [TESTATOR NAME], a resident of [City], Vermont, date of birth [DOB], of sound mind and free from undue influence, declare this to be my Last Will and Testament (the “Will”), made this [DAY] day of [MONTH, YEAR] (the “Effective Date”).
3. Governing Law. This Will is governed by the laws of the State of Vermont, including, without limitation, Title 14 and Title 14A of the Vermont Statutes Annotated.
4. Jurisdiction. Exclusive jurisdiction over probate of this Will and administration of the Testamentary Trust shall lie with the [NAME] Probate Division of the Vermont Superior Court (the “Probate Court”).
5. Consideration & Purpose. This Will disposes of my estate, creates a testamentary trust for the benefit of the beneficiaries named herein, and appoints fiduciaries to carry out my testamentary intent.

II. DEFINITIONS

Unless the context clearly indicates otherwise, capitalized terms have the meanings below and apply uniformly throughout the Will and Testamentary Trust.

“Administration Expenses” – All costs, expenses, and taxes lawfully chargeable against my estate or the Trust Estate, including but not limited to reasonable attorneys’ and accountants’ fees.

“Beneficiary” – Any person or entity entitled to receive distributions under Article III.F.

“Fiduciary” – The Personal Representative, Trustee, Successor Trustee(s), and any court-appointed fiduciary hereunder.

“Personal Representative” – The individual or institution appointed in Article III.C (also referred to as “Executor” under Vermont law).

“Primary Beneficiary(ies)” – [DEFINE e.g., “my children, [CHILD NAME 1] and [CHILD NAME 2]”].

“Residuary Estate” – All property, real or personal, tangible or intangible, wherever situated, owned by me at death and not effectively disposed of by earlier provisions of this Will.

“Trust” or “Testamentary Trust” – The trust established in Article III.F, entitled the “[TESTATOR NAME] Family Trust.”

“Trust Assets” or “Trust Estate” – The Residuary Estate and all additions and accretions thereto.

“Trustee” – The person or institution appointed in Article III.F.4 to administer the Testamentary Trust.

[// GUIDANCE: Add further defined terms (e.g., “Qualified Disability Trust,” “Per Stirpes”) as necessary to suit client objectives.]

III. OPERATIVE PROVISIONS

A. Revocation of Prior Wills

I hereby revoke all prior wills and codicils.

B. Family Identification

1. Spouse. I am married to [SPOUSE NAME].
2. Children. I have the following children: [LIST CHILDREN].
3. No Other Issue. Except as expressly stated, I have no other living or deceased issue.

[// GUIDANCE: Substitute appropriate recital if Testator is single or partnered.]

C. Appointment of Personal Representative

1. Nomination. I nominate [PRIMARY EXECUTOR] as Personal Representative. If [he/she/they] is unable or unwilling to serve, I nominate [ALTERNATE EXECUTOR].
2. Bond. No bond shall be required of any Personal Representative unless the Probate Court orders otherwise.
3. Powers. My Personal Representative shall have all powers granted under 14 V.S.A. §§ 1901–1907 and any successor provisions, including power to sell, exchange, lease, and distribute assets without court order.

D. Payment of Debts & Expenses

My Personal Representative shall pay from my estate:
a. Funeral and burial expenses in an amount not to exceed [CAP AMOUNT];
b. All legally enforceable debts; and
c. Administration Expenses, including estate and inheritance taxes, in accordance with Vermont law.
[// GUIDANCE: Consider tax-apportionment clause if federal or state estate tax is anticipated.]

E. Specific & General Bequests

1. Tangible Personal Property. I devise my tangible personal property as set forth on any duly-executed separate writing, or, absent such writing, to [BENEFICIARY].
2. Cash Bequests. I give $[AMOUNT] to [BENEFICIARY NAME].
3. Charitable Gifts. I give [PERCENTAGE]% of my gross estate to [CHARITY NAME & EIN], a qualified § 501(c)(3) organization.
4. Lapse/Savings Clause. Unless otherwise stated, any failed specific bequest shall fall to the Residuary Estate.

F. Residuary Disposition and Creation of Testamentary Trust

1. Residuary Gift. I devise the entire Residuary Estate to the Trustee, IN TRUST, to be held, managed, and distributed as provided herein.
2. Name & Purpose. The trust shall be known as the “[TESTATOR NAME] Family Trust” (the “Trust”) and is intended to (i) provide for the health, education, maintenance, and support (“HEMS”) of the Beneficiaries, and (ii) protect trust assets from unnecessary depletion.
3. Duration. The Trust shall terminate on the earlier of (a) the date that is 21 years after the death of the last to die of my descendants living on the Effective Date, or (b) complete distribution of the Trust Estate.
4. Trustee Appointment.
   a. Initial Trustee. [PRIMARY TRUSTEE] shall serve as Trustee.
   b. Successor Trustees. If the Trustee ceases to serve, [SUCCESSOR TRUSTEE 1], and then [SUCCESSOR TRUSTEE 2], shall serve.
   c. Appointment Mechanics. A Successor Trustee shall assume office upon written acceptance delivered to the Beneficiaries and filed with the Probate Court.
5. Beneficiaries & Distributions.
   a. Primary Beneficiaries. The Trustee shall distribute income and principal for the HEMS of the Primary Beneficiaries, in the Trustee’s sole and absolute discretion, considering other resources reasonably available to such Beneficiary.
   b. Distribution upon Termination. Upon termination, the remaining Trust Estate shall be distributed [per stirpes/per capita/as follows] among the Primary Beneficiaries.
   c. Spendthrift Provision. No Beneficiary may sell, assign, or otherwise anticipate any interest in the Trust before actual receipt; the Trust interest shall be free from creditors’ claims to the maximum extent permitted by Vermont law.
6. Trustee Powers. The Trustee shall have all powers allowable to a trustee under 14A V.S.A. §§ 801–816, including, without limitation:
   i. Invest and reinvest assets using the prudent investor rule;
   ii. Make distributions directly, or apply sums for a Beneficiary’s benefit;
   iii. Allocate receipts between income and principal;
   iv. Continue, incorporate, or liquidate any business;
   v. Encroach on principal;
   vi. Employ professionals at the expense of the Trust; and
   vii. Execute instruments necessary to carry out trust purposes.
7. Trustee Removal. A majority of adult, competent Beneficiaries then entitled to distributions may remove a Trustee for cause (e.g., breach of fiduciary duty, incapacity) by written instrument filed with the Probate Court and appoint a qualified successor.
8. Accountings. The Trustee shall provide annual written accountings to each adult Beneficiary and, upon request, to the Probate Court.
9. Tax Provisions. The Trustee may make any elections and allocations permitted under the Internal Revenue Code and Vermont tax law to minimize aggregate tax liability.
10. No Merger. If a Beneficiary becomes Trustee, trust assets shall nevertheless remain separate from that Beneficiary’s personal assets.

IV. REPRESENTATIONS & WARRANTIES

1. Capacity. I represent that I am of full age and mental competence to execute this Will.
2. Voluntariness. I execute this Will voluntarily and without duress or undue influence.
3. Property Ownership. I warrant that all property disposed of herein is legally owned by me and not subject to any undisclosed encumbrances, other than those of public record.

[// GUIDANCE: These “reps & warranties” function as testator declarations to reduce future will contests.]

V. COVENANTS & RESTRICTIONS

1. No-Contest (In Terrorem) Clause. Any Beneficiary who, directly or indirectly, contests this Will or any Trust provision shall forfeit all interests hereunder, and such interests shall lapse to the Residuary Estate.
2. Survivorship Requirement. A Beneficiary must survive me by [120] hours to take under this Will, unless expressly provided otherwise.
3. Ademption & Abatement. Property specifically bequeathed that is not in my estate at death shall be deemed adeemed. Abatement shall occur in the following order: (i) residuary bequests, (ii) general bequests, (iii) specific bequests.

VI. DEFAULT & REMEDIES

1. Trustee Breach. If the Trustee breaches any fiduciary duty, a Beneficiary or co-Trustee may:
   a. Petition the Probate Court for removal;
   b. Seek damages limited to loss sustained plus costs; and
   c. Obtain injunctive relief to prevent dissipation of Trust Assets.
2. Event of Default—Beneficiary. Misappropriation or attempted alienation of a Beneficiary’s interest constitutes a default resulting in automatic suspension of further discretionary distributions to that Beneficiary for up to [12] months, at the Trustee’s option.
3. Attorney Fees. The prevailing party in any proceeding to enforce this Will or the Trust shall be entitled to reasonable attorney fees and costs payable from (i) the party’s share, or (ii) the Trust Estate if equity so requires.

VII. RISK ALLOCATION

1. Indemnification of Trustee. The Trust Estate shall indemnify and hold harmless each Trustee from and against any loss, liability, or expense incurred while acting in good faith and in compliance with fiduciary standards, except for losses arising from gross negligence, willful misconduct, or fraud.
2. Limitation of Liability. Any liability of the Trustee arising from administration of the Trust shall be limited to the value of the Trust Assets; no personal liability shall attach.
3. Insurance. The Trustee may procure fiduciary liability insurance, premiums for which shall be an Administration Expense.
4. Force Majeure. No Fiduciary shall be liable for failure to act when prevented by events beyond reasonable control, including natural disaster, war, or change in applicable law.

VIII. DISPUTE RESOLUTION

1. Governing Law. This Will and Trust are governed by the laws of the State of Vermont, without regard to conflict-of-law principles.
2. Forum Selection. Exclusive venue for all proceedings shall be the Probate Court identified in Section I.4.
3. Arbitration. Arbitration is expressly disallowed.
4. Jury Waiver. No jury trial right exists in probate; to the extent a claim could be tried to a jury, such right is knowingly and voluntarily waived.
5. Injunctive Relief. The Probate Court may issue temporary, preliminary, and permanent injunctive relief to enforce trust provisions.

IX. GENERAL PROVISIONS

1. Amendment & Revocation. This Will may be amended or revoked only by a later-executed will or codicil that meets Vermont statutory formalities.
2. Assignment. No interest hereunder may be assigned except as expressly permitted (see Spendthrift Provision).
3. Severability. If any provision is held invalid, the remaining provisions shall remain in full force, provided the Testator’s overall intent can be effectuated.
4. Integration. This Will constitutes the entire testamentary plan of the Testator; extrinsic evidence is inadmissible to vary its terms except as provided by Vermont law.
5. Headings. Headings are for convenience only and shall not affect interpretation.
6. Counterparts & Electronic Signatures. This Will may be executed in counterparts; electronic or remote notarization is permitted if, and only if, valid under Vermont law at the time of execution.

X. EXECUTION BLOCK

IN WITNESS WHEREOF, I, [TESTATOR NAME], have signed this Will on the date first written above.

[TESTATOR NAME], Testator

We, the undersigned witnesses, declare that the Testator, whom we know personally or whose identity has been satisfactorily established, signed and declared this instrument to be the Testator’s Last Will and Testament in our presence, and we, in the Testator’s presence and in the presence of each other, have subscribed our names as witnesses.

1. ______ Date: __
    [WITNESS #1 NAME], residing at [ADDRESS]

2. ______ Date: __
    [WITNESS #2 NAME], residing at [ADDRESS]

[// GUIDANCE: Vermont requires two disinterested witnesses. Remote witnessing permissible only under emergency statutes—verify current status.]

XI. SELF-PROVING AFFIDAVIT (OPTIONAL BUT RECOMMENDED)

State of Vermont )
County of [__] ) ss.

We, [TESTATOR NAME], [WITNESS #1 NAME], and [WITNESS #2 NAME], being first duly sworn, do hereby declare to the undersigned authority that the Testator signed the foregoing Will as the Testator’s free and voluntary act for the purposes therein expressed; that each Witness, in the presence of the Testator and of each other, signed the Will as witness; and that to the best of our knowledge the Testator was, at the time of signing, of legal age, of sound mind, and under no constraint or undue influence.

______ Testator
_____ Witness #1
_______ Witness #2

Subscribed, sworn to, and acknowledged before me this _ day of _, 20____.

Notary Public
My Commission Expires: ____

[// GUIDANCE: File original Will with the appropriate Probate Division post-mortem. Retain a conformed copy in the client’s estate planning binder.]

END OF DOCUMENT