Complex Will with Trust

COMPLEX WILL WITH TESTAMENTARY TRUST

(Alaska)

TABLE OF CONTENTS

1. Document Header
2. Family Information and Definitions
3. Revocation
4. Appointment of Personal Representative
5. Estate Administration
6. Specific Gifts and Tangible-Personal-Property List
7. Residuary Estate and Creation of Family Trust
8. Family Trust Provisions
9. Guardian and Conservator Nominations
10. Survivorship
11. Will-Contest Provision
12. Governing Law, Jurisdiction, and Venue
13. Miscellaneous Provisions
14. Execution and Witness Attestation
15. Simultaneous Self-Proving Affidavit

1. DOCUMENT HEADER

THIS LAST WILL AND TESTAMENT WITH TESTAMENTARY TRUST (the “Will”) is made on the ___ day of __________, 20___, by [TESTATOR FULL LEGAL NAME], a resident of [City or Community], Alaska, in the [First / Second / Third / Fourth] Judicial District (“Testator”).

I am eighteen years of age or older and of sound mind as required by AS 13.12.501. I sign this Will voluntarily to dispose of my probate estate and to create the testamentary trust stated below.

2. FAMILY INFORMATION AND DEFINITIONS

2.1 Family Information

I am [married to / not married to] [SPOUSE NAME].

My children are:

1. [CHILD NAME AND DATE OF BIRTH]
2. [CHILD NAME AND DATE OF BIRTH]
3. [ADDITIONAL CHILDREN OR “NONE”]

2.2 Definitions

“Child” or “Children” means [IDENTIFY THE INTENDED CHILDREN OR CLASS PRECISELY].

“Descendants” means [DEFINE THE INTENDED CLASS OF LINEAL DESCENDANTS PRECISELY].

“Family Trust” means the testamentary trust established under Article 7 and administered under Article 8.

“Personal Representative” means the person serving as executor or personal representative of my estate.

“Qualified Beneficiary” has the meaning stated in AS 13.36.390(2).

“Residuary Estate” means all probate property not effectively disposed of by another provision of this Will.

“Survivorship Period” means thirty (30) consecutive days after my death. This express period replaces the 120-hour default to the extent permitted by AS 13.12.702(d)(2).

“Trustee” means each person or institution serving as trustee of the Family Trust.

3. REVOCATION

I revoke all prior wills and codicils made by me. Revocation of a will or part of a will is otherwise governed by AS 13.12.507.

4. APPOINTMENT OF PERSONAL REPRESENTATIVE

4.1 Primary and Successor Appointments

I nominate [PRIMARY PERSONAL REPRESENTATIVE NAME] as Personal Representative.

If that person does not serve or ceases to serve, I nominate [FIRST SUCCESSOR NAME], followed by [SECOND SUCCESSOR NAME].

4.2 Bond

I expressly waive surety bond for each person nominated in Section 4.1 who qualifies as Personal Representative. AS 13.16.255 requires a bond unless a statutory exception applies, including an express waiver in a testate estate.

4.3 Fiduciary Standard and Powers

My Personal Representative shall settle and distribute my estate according to this Will and applicable law, expeditiously and efficiently consistent with the estate's best interests, as required by AS 13.16.350.

Subject to this Will, applicable creditor priorities, fiduciary duties, and any controlling court order, my Personal Representative may exercise the estate-property powers in AS 13.16.390 and the transactions authorized by AS 13.16.410. Those powers include retaining, investing, acquiring, disposing of, leasing, mortgaging, insuring, repairing, and managing estate property; employing advisers and agents; prosecuting or defending claims; and making distributions.

4.4 Conflicts, Compensation, and Litigation Expenses

A transaction affected by a substantial conflict of interest remains subject to AS 13.16.400 and is not authorized merely by the general powers above.

My Personal Representative is entitled to reasonable compensation under AS 13.16.430. Necessary expenses and reasonable attorney fees for a proceeding prosecuted or defended in good faith are governed by AS 13.16.435.

5. ESTATE ADMINISTRATION

5.1 Debts, Expenses, and Taxes

My Personal Representative shall pay enforceable claims, funeral and burial expenses, administration expenses, and taxes in the priority, amount, and manner required by applicable law, while maintaining appropriate reserves.

5.2 Tax Elections and Apportionment

Except as applicable law requires otherwise, estate, inheritance, and similar death taxes attributable to property passing under this Will shall be paid from [THE RESIDUARY ESTATE / APPORTIONED AS FOLLOWS: __________].

5.3 Administrative Distributions

The Personal Representative may distribute the residuary estate in kind, in cash, or partly in each, using an equitable method permitted by AS 13.16.560.

6. SPECIFIC GIFTS AND TANGIBLE-PERSONAL-PROPERTY LIST

6.1 Specific Gifts

I make the following gifts, subject to the beneficiary surviving me by the Survivorship Period:

1. [DESCRIPTION OF PROPERTY OR AMOUNT] to [BENEFICIARY NAME].
2. [DESCRIPTION OF PROPERTY OR AMOUNT] to [BENEFICIARY NAME].
3. [CHARITABLE GIFT, IF ANY] to [CHARITY'S FULL LEGAL NAME].

If a named beneficiary does not survive the Survivorship Period, that gift shall [LAPSE INTO THE RESIDUARY ESTATE / PASS TO THE FOLLOWING ALTERNATE: __________].

6.2 Separate Tangible-Personal-Property Writing

I may leave a separate written statement or list disposing of tangible personal property other than money. To qualify under AS 13.12.513, the writing must be signed by me and describe the items and devisees with reasonable certainty. It may be prepared before or after this Will, altered after preparation, and need not have significance apart from its effect under this Will.

Any item not effectively disposed of by a qualifying writing passes as part of my Residuary Estate.

7. RESIDUARY ESTATE AND CREATION OF FAMILY TRUST

I give my entire Residuary Estate to the Trustee, IN TRUST, to hold, administer, and distribute under Article 8 as the [TESTATOR LAST NAME] FAMILY TRUST.

If no Trustee is then serving, the Personal Representative shall retain the property until a Trustee accepts office under Section 8.6.

8. FAMILY TRUST PROVISIONS

8.1 Purpose

The Family Trust is intended to provide managed support for the beneficiaries, preserve property through age-based distributions, and permit prudent administration under Alaska law.

8.2 Trust Shares

The Trustee shall divide the Family Trust into equal shares, one share for each of my Children who survives the Survivorship Period and one share collectively for the descendants of each Child who does not survive the Survivorship Period but leaves descendants who do.

A deceased Child's descendants shall take that Child's share [BY REPRESENTATION / IN THE FOLLOWING PROPORTIONS: __________].

8.3 Discretionary Distributions

Before final distribution of a beneficiary's share, the Trustee may distribute as much income or principal as the Trustee determines advisable for that beneficiary's health, education, maintenance, or support, after considering [OTHER RESOURCES / WITHOUT CONSIDERING OTHER RESOURCES].

The Trustee may pay a distribution directly to the beneficiary or apply it for the beneficiary's use or benefit as authorized by AS 13.36.109(22).

8.4 Age-Based Distributions

Subject to Section 8.5, the Trustee shall distribute each beneficiary's separate share as follows:

1. One-third (1/3) at age [25];
2. One-half (1/2) of the remaining balance at age [30]; and
3. The entire remaining balance at age [35].

If a beneficiary dies before receiving the entire share, the remaining share shall pass to [THAT BENEFICIARY'S DESCENDANTS BY REPRESENTATION / THE SURVIVING PRIMARY BENEFICIARIES / OTHER: __________].

8.5 Optional Protective Deferral

☐ If selected, the Trustee may defer an otherwise mandatory distribution while [OBJECTIVE PROTECTIVE EVENT] continues, but no later than [OUTSIDE DATE OR AGE], and may apply the deferred share for the beneficiary under Section 8.3.

8.6 Trustee Appointments and Vacancy

I appoint [INITIAL TRUSTEE NAME] as Trustee.

If that person does not serve or ceases to serve, I appoint [FIRST SUCCESSOR TRUSTEE], followed by [SECOND SUCCESSOR TRUSTEE].

If a vacancy must be filled after the named successors are exhausted, AS 13.36.073 gives priority to the terms of this Trust, then to a nonbeneficiary appointed by unanimous agreement of the Qualified Beneficiaries, and then to a court appointee.

8.7 Resignation and Removal

Unless this Trust provides a different procedure, a Trustee may resign after giving the written notice required by AS 13.36.074 or with court approval.

[REMOVAL HOLDER NAME], if living, competent, and willing to act, may remove a Trustee and appoint a qualified successor by a signed writing delivered to the Trustee and the Qualified Beneficiaries. This is a removal procedure specified in the trust instrument for purposes of AS 13.36.076(a)(2)-(3).

If the named Removal Holder cannot act, removal may be sought from the Superior Court on the grounds and findings required by AS 13.36.076. A serious breach may support judicial relief notwithstanding a specified removal procedure.

8.8 Trustee Bond, Compensation, and Reimbursement

No Trustee shall be required to provide bond unless bond is required by this Trust, reasonably requested by a beneficiary, or found necessary by the court under AS 13.36.085.

The Trustee shall receive [REASONABLE COMPENSATION / COMPENSATION UNDER THE FOLLOWING SCHEDULE: __________].

The Trustee is entitled to reimbursement and any related lien only as provided by AS 13.36.078. This Will does not create a blanket indemnity for a breach of trust.

8.9 Trustee Powers

Without prior court authorization and subject to fiduciary duties and this Trust, the Trustee may exercise the general powers in AS 13.36.107 and the specific powers in AS 13.36.109, including authority to:

1. Collect, retain, acquire, dispose of, manage, improve, divide, or encumber trust property;
2. Operate or reorganize a business held in trust;
3. Lease property and borrow money for a trust purpose;
4. Insure trust property and the Trustee against third-party liability;
5. Pay or contest claims and settle them by lawful means;
6. Employ and compensate attorneys, accountants, investment advisers, appraisers, and other agents;
7. Make distributions in cash or in kind, divided or undivided, pro rata or otherwise;
8. Pay taxes, expenses, and reasonable compensation; and
9. Execute instruments and prosecute or defend proceedings needed to protect trust property.

A grant of power does not by itself determine whether a particular exercise is proper. AS 13.36.107(c).

8.10 Investment Duties

The Trustee shall invest and manage trust assets under the prudent-investor rules in AS 13.36.225 through 13.36.270, including the duties to use reasonable care, skill, and caution; evaluate investments in the context of the whole portfolio; diversify unless special circumstances justify otherwise; act loyally and impartially; incur only appropriate and reasonable costs; and monitor any properly delegated investment function.

8.11 Information and Accounts

The Trustee shall keep beneficiaries reasonably informed and shall provide the notices, information, trust terms, and account statements required by AS 13.36.080. This Trust does not use the limited settlor exemption described in AS 13.36.080(b).

8.12 Spendthrift Restriction

Before actual payment or delivery by the Trustee, no beneficiary may voluntarily or involuntarily transfer, assign, pledge, anticipate, or encumber an interest in the Family Trust. This written restriction is intended to operate under AS 34.40.110, subject to all statutory exceptions and other applicable law.

8.13 Trustee Liability

The Trustee's personal liability to third parties for obligations arising from ownership or control of trust property, or for torts committed in trust administration, is governed by AS 13.36.095. The Trustee is personally liable under that statute only if personally at fault; claims described there may be asserted against the trust estate by proceeding against the Trustee in a fiduciary capacity.

This Will does not impose a blanket “trust assets only” cap and does not excuse liability that applicable law does not permit the Trust to excuse.

8.14 Uneconomical Trust and Final Termination

In addition to the final age-based distribution, the Trustee may terminate an irrevocable trust valued at less than $50,000 if permitted by AS 13.36.365 and this Trust. A court may also modify or terminate an uneconomical trust under that section. On termination under AS 13.36.365, the Trustee shall distribute property according to my probable intent.

After the final distribution, the Trustee shall provide any final account required by AS 13.36.080 and wind up the Trust.

9. GUARDIAN AND CONSERVATOR NOMINATIONS

If a guardian is needed for a minor child of mine, I nominate [GUARDIAN NAME], followed by [ALTERNATE GUARDIAN NAME].

If a conservator is needed to manage a minor child's property not held in the Family Trust, I nominate [CONSERVATOR NAME], followed by [ALTERNATE CONSERVATOR NAME].

These are nominations only; appointment, qualification, powers, and supervision remain subject to the Superior Court and applicable law.

10. SURVIVORSHIP

A beneficiary must survive me by the Survivorship Period to take under this Will. A person who does not satisfy that condition is treated as having predeceased me for purposes of this Will.

AS 13.12.702 supplies a 120-hour default but permits a governing instrument to require a different specified period if survival is established by clear and convincing evidence.

11. WILL-CONTEST PROVISION

If an interested person, without probable cause, contests this Will or institutes another proceeding relating to my estate to invalidate a disposition, that person forfeits the benefit otherwise given under this Will, and the forfeited benefit passes as if that person had failed to survive the Survivorship Period.

This clause does not apply when probable cause exists. AS 13.12.517 makes a will-contest penalty unenforceable in that circumstance.

12. GOVERNING LAW, JURISDICTION, AND VENUE

12.1 Alaska Law

This Will and the Family Trust are governed by Alaska law to the extent Alaska choice-of-law rules permit.

12.2 Superior Court

For AS 13.06 through AS 13.36, “court” means the Superior Court. AS 13.06.050(8). The Superior Court has subject-matter jurisdiction over decedents' estates, construction of wills, protection of minors and incapacitated persons, and trusts under AS 13.06.065.

12.3 Trust Proceedings

The Superior Court has exclusive jurisdiction over proceedings concerning the internal affairs of trusts under AS 13.36.035. The Trust is not subject to continuing judicial supervision merely because a proceeding occurs. Venue for a trust proceeding is determined by AS 13.36.040 and applicable civil rules; this Will does not create venue where the law does not permit it.

12.4 Jury Rights

This Will contains no jury waiver. Jury rights and any advisory jury are governed by AS 13.06.085 and other applicable law.

13. MISCELLANEOUS PROVISIONS

13.1 Severability

If a provision is held invalid or unenforceable, the remaining provisions shall continue to the fullest extent consistent with my testamentary intent and applicable law.

13.2 Headings

Headings are for convenience and do not control interpretation.

13.3 Gender and Number

Words of any gender include all genders, and the singular includes the plural when context requires.

13.4 No Mandatory Arbitration

This Will does not require arbitration of probate, trust, beneficiary, or fiduciary disputes. A fiduciary may settle a particular claim by arbitration only when authorized by applicable law and consistent with fiduciary duties.

13.5 Copies

A copy may be used for information or administration only to the extent accepted by the court or other recipient. This clause does not declare an electronic copy, counterpart, or reproduction to be an executed original will.

14. EXECUTION AND WITNESS ATTESTATION

I, [TESTATOR FULL LEGAL NAME], sign this instrument as my Will on the ___ day of __________, 20___, at [CITY OR COMMUNITY], Alaska. I sign willingly, as my free and voluntary act, and intend this instrument to state my testamentary plan.

_________________________________

[TESTATOR FULL LEGAL NAME], Testator

We, the undersigned witnesses, each sign within a reasonable time after witnessing either the Testator's signing of this Will or the Testator's acknowledgment of the signature or of this Will, as required by AS 13.12.502(a)(3).

1. _________________________________

[WITNESS 1 NAME]

Address: ___________________________

Date: ______________________________

2. _________________________________

[WITNESS 2 NAME]

Address: ___________________________

Date: ______________________________

15. SIMULTANEOUS SELF-PROVING AFFIDAVIT

(AS 13.12.504(a); use the separate later-execution form in subsection (b) if self-proof occurs after execution)

I, [TESTATOR NAME], the Testator, sign my name to this instrument this ___ day of __________, 20___, and, being first duly sworn, declare to the undersigned authority that I sign and execute this instrument as my Will and that I sign it willingly (or willingly direct another to sign for me), that I execute it as my free and voluntary act for the purposes expressed in the Will, and that I am eighteen years of age or older, of sound mind, and under no constraint or undue influence.

_________________________________

[TESTATOR NAME], Testator

We, [WITNESS 1 NAME] and [WITNESS 2 NAME], the witnesses, sign our names to this instrument, being first duly sworn, and declare to the undersigned authority that the Testator signs and executes this instrument as the Testator's Will and that the Testator signs it willingly (or willingly directs another to sign for the Testator), and that each of us, in the presence and hearing of the Testator, signs this Will as witness to the Testator's signing, and that to the best of our knowledge the Testator is eighteen years of age or older, of sound mind, and under no constraint or undue influence.

_________________________________

[WITNESS 1 NAME], Witness

_________________________________

[WITNESS 2 NAME], Witness

STATE OF ______________________________

______________________________ JUDICIAL DISTRICT

Subscribed, sworn to, and acknowledged before me by [TESTATOR NAME], the Testator, and subscribed and sworn to before me by [WITNESS 1 NAME] and [WITNESS 2 NAME], witnesses, this ___ day of __________, 20___.

[OFFICIAL SEAL]

_________________________________

Signature of Officer

_________________________________

Official Capacity of Officer

SOURCES AND REFERENCES

• AS 13.06.050 through 13.06.085 (official definitions, jurisdiction, and jury provisions)
• AS 13.12.501 through 13.12.517 (official will-execution provisions)
• AS 13.12.702 (official survivorship provision)
• AS 13.16.245 through 13.16.270 (official appointment and bond provisions)
• AS 13.16.350 through 13.16.435 (official personal-representative duties and powers)
• AS 13.16.535 through 13.16.595 (official distribution provisions)
• AS 13.36.035 through 13.36.110 (official trust administration provisions)
• AS 13.36.225 through 13.36.270 (official prudent-investor provisions)
• AS 13.36.365 through 13.36.390 (official termination and definitions provisions)
• AS 34.40.110 (official restriction-on-transfer provision)