Will: half to husband, wife or partner, half and gift over to children
Gifts to anyone, as required. Half residue to spouse for life,
income only; after his / her death then to children. Specific
provision for spouse to occupy house as part of his / her
half. Trust provisions to maintain capital value (for benefit of
remainder men). Provision for termination of life interest in
house if tenant for life co-habits with someone. (That is: lives
together). Other half of estate to children immediately.
Various provisions to make sure the Trustees keep the
capital value of the Trust Fund intact for the remainder men -
so less freedom to spend capital money on the tenant for life.
Suitable for: person married to, or living with someone other
than parent of his / her children
About this document
This is a very popular choice of Net Lawman will document because it suits the modern relationship – that is, one where, quite frequently, the testator is not living with the other parent of the children. It ensures that both the spouse, or life partner and children are well provided for. Further, it ensures that on the spouse’s death, the rest of the legacy under this will passes to the children, not, to the spouse’s new partner.
Of course you may first give any gifts of personality or real property to anyone you specify. The spouse is allowed to keep and reside in the marital home, and is entitled to interest under the trust as a beneficiary with a life interest. It ensures that the trust capital is maintained for the remainder man – in this case, the children.
It also contains a useful paragraph ensuring that the income otherwise received from the trust, including the right to live in the house, is terminated if the spouse chooses to live with someone else. Of course this isn’t meant as a nasty ‘payback’ but simply protects your life long assets from being redistributed according to your spouse’s wishes – that is, possibly to their new partner. Instead, you can rest assured that if your spouse does decide to live with someone else, their interest in the trust goes instead, to your children.
Further, there is specific provision to ensure that the trustees retain the capital of the trust fund for the benefit of the children.
This will is suitable for a person married to, or living with someone other than the parent of their children. The Net Lawman wills are suitable for most situations. If the will you need is not here, we can draw a will to your precise instructions for a very reasonable fee.
In these descriptions: “remainder man" means the person entitled to capital and any accumulated income after the death of a person with a life interest (a “tenant for life”).
Application
and features
Comprehensive templates - delete what you do not need
Inclusion of sensible administrative provisions
Use of plain English
Comprehensive explanatory notes
Contents
Details of the testator
Details of executors and trustees
Specified gifts of money
Specified gifts of property (personality or real estate)
Life interest and marital home to pass to the spouse for life (as long as they do not co-habit with anyone else)
Provision for professional trustees or executors to charge a reasonable fee for their services
Provisions ensuring the trust capital is maintained for the children
Trust fund management
Trustees general powers
Consent required
Minor beneficiaries
Relationship with beneficiaries
Funeral wishes;
Example letter of intent
Word
Count (approximate):
Document: 2140
words
Explanatory notes:
2270
words
Draftsman
This document is drawn and maintained by Net Lawman. It is real law in plain English.
