Complex Will with Trust - Wisconsin

LAST WILL AND TESTAMENT

AND

TESTAMENTARY TRUST AGREEMENT

OF [FULL LEGAL NAME OF TESTATOR]

(A Wisconsin Complex Will With Testamentary Trust)

Effective Date: [DATE OF EXECUTION]
County of Domicile: [COUNTY], Wisconsin

TABLE OF CONTENTS

1. Document Header & Recitals
2. Definitions

3. Operative Provisions
   3.1 Revocation of Prior Instruments
   3.2 Identification of Family & Status
   3.3 Appointment of Fiduciaries
   3.4 Payment of Debts, Taxes & Expenses
   3.5 Specific Bequests & Devises
   3.6 Residuary Disposition to Testamentary Trust

4. Testamentary Trust
   4.1 Creation; Name; Governing Law
   4.2 Beneficiaries & Shares
   4.3 Trustee Powers & Fiduciary Standards
   4.4 Distribution Provisions
   4.5 Administrative Provisions
   4.6 Termination & Final Distribution

5. Guardianship of Minor Children

6. No-Contest & Alternative Dispute Clauses
7. General Provisions
8. Execution Block
9. Self-Proving Affidavit

1. DOCUMENT HEADER & RECITALS

1.1 Identification. I, [FULL LEGAL NAME], presently residing at [ADDRESS], being of legal age and of sound mind and memory, do hereby make, publish, and declare this instrument to be my Last Will and Testament (the “Will”).

1.2 Intent. This Will is executed pursuant to Wis. Stat. ch. 853 and is intended to dispose of all property over which I have testamentary power at my death, establish a testamentary trust for the benefit of my intended beneficiaries, and appoint fiduciaries to administer my estate and trust.

1.3 Testamentary Intent. This is my Will and the terms of the testamentary trust I create in Article 4.

2. DEFINITIONS

The following terms, when capitalized, have the meanings set forth below. Any term not defined herein shall have the meaning ascribed under applicable Wisconsin probate or trust law.

“Applicable Law” – Wisconsin law governing wills, probate, and trusts, and any other controlling federal or state law.

“Beneficiary” – Any person or entity entitled to receive a distribution under this Will or the Trust.

“Child” or “Children” – Includes any biological or legally adopted child of mine, whether now living or hereafter born or adopted.

“Estate” – All probate assets distributable through this Will.

“Personal Representative” – The person appointed to administer my Estate under Section 3.3.

“Trust” – The testamentary trust created under Article 4, to be known as the “[NAME] Family Trust.”

“Trust Assets” – All property held in the Trust at any given time, including any accumulated income.

“Trustee” – The individual or corporate fiduciary appointed to administer the Trust as provided in Article 4.

3. OPERATIVE PROVISIONS

3.1 Revocation of Prior Instruments

I hereby revoke all prior wills, codicils, and testamentary dispositions heretofore made by me.

3.2 Identification of Family & Status

I am married to [SPOUSE FULL NAME], hereinafter “my Spouse.” We have the following Children:

1. [NAME OF CHILD 1], born [DOB];
2. [NAME OF CHILD 2], born [DOB]; etc.

[If unmarried or with no children, modify accordingly.]

3.3 Appointment of Fiduciaries

3.3.1 Personal Representative. I nominate [PR NAME], of [ADDRESS], as Personal Representative. If [PR NAME] fails to qualify or ceases to serve, I nominate [ALTERNATE PR NAME] as successor. I request appointment without bond, subject to the court's discretion under Wis. Stat. § 856.25.

3.3.2 Trustee. I nominate [TRUSTEE NAME] as initial Trustee of the Trust, with [ALTERNATE TRUSTEE NAME] as successor. Bond is waived unless otherwise required by the supervising court.

3.3.3 Guardian. If any Child needs a guardian at my death, I nominate [GUARDIAN NAME] as guardian of that Child's person, with [ALTERNATE GUARDIAN NAME] as successor. This is a parental nomination under Wis. Stat. § 48.9795(2)(c)1., subject to a surviving parent's rights and the Child's best interests; the court decides appointment.

3.4 Payment of Debts, Taxes & Expenses

3.4.1 Debts & Expenses. My Personal Representative shall pay from the residue of my Estate all enforceable debts, expenses of last illness and burial, and costs of estate administration.

3.4.2 Taxes. Taxes legally payable by my Estate by reason of my death shall be paid from the residuary Estate to the extent permitted by law, subject to any contrary direction in this Will.

3.5 Specific Bequests & Devises

3.5.1 Tangible Personal Property Memorandum. I may leave a separate signed and dated writing, referenced by this Will, describing otherwise undisposed tangible personal property and its recipients with reasonable certainty under Wis. Stat. § 853.32(2). The writing may be prepared or altered after this Will is executed.

3.5.2 Cash & Property Bequests.
a. [BENEFICIARY] – $[AMOUNT];
b. [CHARITY], EIN [#] – [DESCRIPTION OF GIFT].

Any specific devise that fails shall pass as Wisconsin law or the express alternate terms of that devise direct; any portion passing to the residue shall be administered under Article 4.

3.6 Residuary Disposition to Testamentary Trust

All residue of my Estate shall be distributed to the Trustee of the testamentary Trust created by this Will, to be held, managed, and distributed under Article 4.

4. TESTAMENTARY TRUST

4.1 Creation; Name; Governing Law

4.1.1 Creation. Upon my death, the Trust is hereby created and shall be irrevocable.

4.1.2 Name. The Trust shall be known as the “[NAME] Family Trust.”

4.1.3 Governing Law. The Trust shall be governed by the substantive law of Wisconsin, without regard to its conflict-of-laws rules. Wis. Stat. ch. 701 (Wisconsin Trust Code) shall apply except as otherwise expressly modified herein.

4.2 Beneficiaries & Shares

4.2.1 Primary Beneficiaries. My Children who survive me, and the descendants of any Child who predeceases me, shall receive equal shares by representation (per stirpes). The Trustee shall maintain a separate share for each living beneficiary while that share remains in trust.

4.2.2 Contingent Beneficiaries. If none of my Children or their descendants survives me, the Trustee shall distribute the Trust to [CONTINGENT BENEFICIARY], or, if that beneficiary does not survive me, to my heirs under Wis. Stat. § 852.01.

4.3 Trustee Powers & Fiduciary Standards

4.3.1 Incorporation of Statutory Powers. The Trustee shall have all powers granted under Wis. Stat. § 701.0815, as amended.

4.3.2 Prudent Investor Rule. The Trustee shall invest Trust Assets in accordance with Wis. Stat. § 881.01 (the Wisconsin Prudent Investor Act).

4.3.3 Delegation. The Trustee may delegate duties and powers that a prudent trustee could properly delegate, using reasonable care, skill, and caution in selecting and supervising agents, under Wis. Stat. § 701.0807.

4.3.4 Expenses. The Trustee may pay reasonable costs of administering the Trust from Trust Assets, subject to applicable fiduciary duties and court review. This provision does not limit liability imposed by law.

4.4 Distribution Provisions

4.4.1 Discretionary HEMS Standard. During each Beneficiary’s lifetime, the Trustee may distribute net income and principal for such Beneficiary’s health, education, maintenance, and support (“HEMS”), considering other resources reasonably available.

4.4.2 Mandatory Distribution at Age [AGE]. Upon a Beneficiary reaching [AGE (e.g., 30)], the Trustee shall distribute that Beneficiary's remaining share outright. If a Beneficiary dies before receiving the full share, the Trustee shall distribute the remainder to that Beneficiary's surviving descendants by representation, or, if none, among the other shares under Section 4.2. If no descendant of mine survives, the remainder passes to [ULTIMATE REMAINDER BENEFICIARY], or, if none survives, to my heirs under Wis. Stat. § 852.01. Complete the age and ultimate beneficiary before signing.

4.4.3 Spendthrift Protection. To the extent permitted by Wis. Stat. § 701.0502, no beneficiary may voluntarily or involuntarily transfer an interest in this Trust before receiving a distribution.

4.4.4 Needs of Beneficiaries. The Trustee may consider a beneficiary's other available resources when exercising discretion under Section 4.4.1, but shall comply with the mandatory distribution terms in Section 4.4.2.

4.5 Administrative Provisions

4.5.1 Accounting & Reports. The Trustee shall keep beneficiaries reasonably informed and provide the notices and reports required by Wis. Stat. § 701.0813. An accounting to a court shall be provided when required by law or court order.

4.5.2 Trustee Compensation. If this Will does not specify compensation, the Trustee is entitled to compensation reasonable under the circumstances under Wis. Stat. § 701.0708.

4.5.3 Removal & Successor Trustees. A settlor, cotrustee, or qualified beneficiary may ask the court to remove a Trustee under Wis. Stat. § 701.0706. If a Trustee ceases to serve, [ALTERNATE TRUSTEE NAME] shall be nominated to fill the vacancy, subject to applicable law and any court order.

4.5.4 Governing Forum. Proceedings in Wisconsin concerning Trust administration belong in the circuit court assigned to exercise probate jurisdiction under Wis. Stat. § 701.0203, with venue determined under applicable law.

4.6 Termination & Final Distribution

The Trust ends when all shares have been distributed under Section 4.4.2 or when a court terminates the Trust under applicable law. On termination, the Trustee shall distribute any remaining property according to the remainder directions in Sections 4.2 and 4.4.2.

5. GUARDIANSHIP OF MINOR CHILDREN

If any Child needs a guardian at my death, I request that the court consider the nominees in Section 3.3.3. I request that any appointed guardian confer with the Trustee about distributions for that Child.

6. NO-CONTEST & ALTERNATIVE DISPUTE CLAUSES

6.1 No-Contest Clause. A beneficiary who contests this Will or institutes proceedings relating to it shall forfeit that beneficiary's gift under this Will, and the gift shall pass as if the beneficiary had predeceased me, but only to the extent enforceable under Wis. Stat. § 854.19. The court may not enforce the penalty if it determines that the beneficiary had probable cause for the proceedings.

6.2 Mediation. I request that parties consider mediation before filing a petition or objection when practicable, without limiting any right to seek timely court relief. Mediation costs may be paid from the Trust only if the Trustee reasonably determines that doing so serves the Trust's interests or a court orders payment.

7. GENERAL PROVISIONS

7.1 Simultaneous Death. If my Spouse and I die under circumstances rendering the order of our deaths uncertain, survival shall be determined under Wis. Stat. § 854.03 and any applicable governing instrument.

7.2 Survivorship Period. A Beneficiary must survive me by 120 hours to take under this Will, subject to any applicable exception under Wis. Stat. § 854.03.

7.3 Digital Assets. Subject to any controlling direction I made through a custodian's online tool, I consent to disclosure of my digital property, including the content of electronic communications, to my Personal Representative and Trustee to the extent permitted by Wis. Stat. ch. 711. They may request and administer disclosed property subject to applicable law.

7.4 Fiduciary Duties. Each fiduciary shall exercise the duties imposed by applicable law. Nothing in this Will eliminates liability that the law does not permit me to eliminate.

7.5 Severability. If any provision is held invalid, the remaining provisions shall continue in full force to the extent consistent with my overall dispositive intent.

7.6 Headings. Headings are for convenience only and shall not affect construction.

7.7 Integration. This instrument constitutes my entire Will and Trust agreement; there are no other testamentary instruments except as incorporated herein by reference.

7.8 Amendment & Revocation. I reserve the right to amend or revoke this Will in whole or in part by a later duly executed instrument, except that the Trust becomes irrevocable upon my death.

8. EXECUTION BLOCK

IN WITNESS WHEREOF, I, [FULL LEGAL NAME], the Testator, sign my name to this Will on the date indicated below, in the presence of the undersigned witnesses, who affirm that the Testator appears to be of sound mind and is executing this Will voluntarily.

Date: ______________________

______________________________
[TESTATOR SIGNATURE]
[FULL LEGAL NAME], Testator

ATTESTATION

We, the undersigned witnesses, being present at the same time, hereby attest that the Testator signed and declared this instrument to be the Testator’s Last Will and Testament in our presence and that we, at the Testator’s request and in the Testator’s presence and in the presence of each other, have hereunto subscribed our names as witnesses.

1. ___________________________ Date: __________
   [WITNESS #1 NAME], residing at [ADDRESS]

2. ___________________________ Date: __________
   [WITNESS #2 NAME], residing at [ADDRESS]

9. SELF-PROVING AFFIDAVIT

(State of Wisconsin, County of [COUNTY])

We, [TESTATOR], [WITNESS #1], and [WITNESS #2], the Testator and the Witnesses whose names are signed to the foregoing instrument, being first duly sworn, declare to the undersigned authority that:

1. The Testator executed the instrument as the Testator’s Will.
2. The Testator signed willingly, or willingly directed another person to sign for the Testator.
3. The Testator executed the Will as a free and voluntary act.
4. Each Witness, in the conscious presence of the Testator, signed the Will as a witness.
5. To the best of each Witness’s knowledge, the Testator was, at the time of execution, 18 years of age or older, of sound mind, and under no constraint or undue influence.

Testator: [________________________________]

Witness #1: [________________________________]

Witness #2: [________________________________]

Subscribed and sworn to before me by [TESTATOR], the Testator, and by [WITNESS #1] and [WITNESS #2], Witnesses, on this _____ day of ________________, 20____.

_______________________________
Notary Public, State of Wisconsin
My Commission Expires: __________

Official seal: ______________________

END OF DOCUMENT