Complex Will with Trust

COMPLEX WILL WITH TESTAMENTARY TRUST

(Colorado)

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 Writing
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 [COUNTY] County, Colorado (“Testator”).

I am eighteen years of age or older and of sound mind as required by C.R.S. § 15-11-501. I sign this Will voluntarily to dispose of my probate estate and create the testamentary trust stated below.

This template uses two attesting witnesses and a simultaneous self-proving affidavit. Colorado also permits a will to satisfy C.R.S. § 15-11-502(1)(c) through acknowledgment by the Testator before a notary or other authorized individual, but counsel should not combine or substitute execution methods without reviewing the complete statutory requirements.

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 C.R.S. § 15-5-103(16).

“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 C.R.S. § 15-11-702(4)(b).

“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 C.R.S. § 15-11-507.

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 direct that no bond be required of a Personal Representative nominated in this Will. Under C.R.S. § 15-12-603, no bond ordinarily is required in informal proceedings subject to statutory exceptions, and a will may relieve a Personal Representative of bond in formal proceedings subject to an interested person's request and the court's determination.

4.3 Fiduciary Standard and General 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 C.R.S. § 15-12-703.

Subject to this Will, creditor rights, fiduciary duties, and any controlling court order, my Personal Representative may exercise the general estate-property powers provided by C.R.S. § 15-12-711 without notice, hearing, or court order to the extent the statute permits.

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

My Personal Representative may distribute the Residuary Estate in cash or in kind, subject to objections, fiduciary duties, valuation rules, and any court order required by C.R.S. § 15-12-906.

6. SPECIFIC GIFTS AND TANGIBLE-PERSONAL-PROPERTY WRITING

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 C.R.S. § 15-11-513, the writing must either be in my handwriting or be signed by me and must 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.

The Family Trust is created by a transfer taking effect under this Will as permitted by C.R.S. § 15-5-401. It is intended to satisfy the creation requirements in C.R.S. § 15-5-402, including a definite beneficiary, duties for the Trustee, and separation of the sole-trustee and sole-beneficiary roles.

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 Colorado 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 [PER CAPITA AT EACH GENERATION / 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 a beneficiary or apply it for the beneficiary's benefit as authorized by C.R.S. § 15-5-816(1)(u).

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 / 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, C.R.S. § 15-5-704 gives priority to a person designated in the Trust, then a person appointed by unanimous agreement of the Qualified Beneficiaries, and then a court appointee.

8.7 Resignation and Removal

A Trustee may resign by giving at least thirty days' notice to the Qualified Beneficiaries, the living settlor, and all cotrustees, or with court approval, as provided by C.R.S. § 15-5-705.

The settlor, a cotrustee, or a beneficiary may request judicial removal. A Trustee may be removed by the court only on the grounds and findings stated in C.R.S. § 15-5-706. This Will does not create a court-free removal power for a beneficiary majority.

8.8 Trustee Compensation and Reimbursement

The Trustee shall receive [COMPENSATION SPECIFIED HERE / COMPENSATION DETERMINED UNDER C.R.S. § 15-5-708].

The Trustee is entitled to reimbursement and any related lien only as provided by C.R.S. § 15-5-709. 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 C.R.S. § 15-5-815 and the specific powers in C.R.S. § 15-5-816, including authority to:

1. Collect, retain, acquire, sell, exchange, divide, or encumber trust property;
2. Operate or reorganize a business held in trust;
3. Lease property and borrow money secured by trust property;
4. Insure trust property and obtain appropriate liability insurance;
5. Pay or contest claims and settle them by lawful means;
6. Employ and compensate attorneys, accountants, investment advisers, and other agents;
7. Make distributions in cash or in kind and adjust valuation differences;
8. Pay taxes, expenses, and compensation;
9. Exercise tax elections; and
10. Execute instruments and prosecute or defend proceedings needed to protect trust property.

The exercise of every power remains subject to the fiduciary duties prescribed by Colorado law. C.R.S. § 15-5-815(2).

8.10 Fiduciary Standards and Delegation

The Trustee shall administer the Trust in good faith according to its terms, purposes, beneficiary interests, and the Colorado Uniform Trust Code. C.R.S. § 15-5-801.

The Trustee shall act solely in the beneficiaries' interests and handle conflicts under C.R.S. § 15-5-802. The Trustee shall exercise reasonable care, skill, and caution under the prudent-administration standard in C.R.S. § 15-5-804.

Any delegation must satisfy the selection, scope, and monitoring duties in C.R.S. § 15-5-807.

8.11 Records, Information, and Reports

The Trustee shall keep adequate administration records and separate trust property from the Trustee's own property as required by C.R.S. § 15-5-810.

The Trustee shall keep Qualified Beneficiaries reasonably informed and provide the notices, requested trust terms, annual and termination reports, and vacancy report required by C.R.S. § 15-5-813.

8.12 Spendthrift Restriction

Each beneficiary's interest is held subject to a spendthrift trust. Before actual receipt, no beneficiary may voluntarily or involuntarily transfer, assign, pledge, anticipate, or encumber an interest in the Family Trust. This restriction is intended to satisfy C.R.S. § 15-5-502, subject to statutory exceptions and other applicable law.

8.13 Exculpation and Personal Liability

No provision of this Trust relieves a Trustee of liability for a breach committed in bad faith or with reckless indifference to the Trust's purposes or the beneficiaries' interests, and any Trustee-drafted exculpatory term remains subject to C.R.S. § 15-5-1008.

Contract, tort, and property-based claims involving a Trustee are governed by C.R.S. § 15-5-1010. This Will does not impose a blanket “trust assets only” liability cap.

8.14 Uneconomic Trust and Final Termination

After notice to the Qualified Beneficiaries, the Trustee may terminate a trust with property having a total value of less than $100,000 if the Trustee concludes the value is insufficient to justify the cost of administration, as provided by C.R.S. § 15-5-414. A court may also modify or terminate an uneconomic trust under that section.

Upon termination under C.R.S. § 15-5-414, the Trustee shall distribute property consistently with the Trust's purposes. After the final distribution, the Trustee shall send any termination report required by C.R.S. § 15-5-813 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 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.

C.R.S. § 15-11-702 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. C.R.S. § 15-11-517 makes a will-contest penalty unenforceable in that circumstance.

12. GOVERNING LAW, JURISDICTION, AND VENUE

12.1 Colorado Law

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

12.2 Court

For the Colorado Probate Code, “court” means the district court, except in the City and County of Denver where it means the Probate Court. C.R.S. § 15-10-201(10). The court has the jurisdiction and powers stated in C.R.S. § 15-10-302.

12.3 Trust Proceedings

A Trust proceeding is governed by C.R.S. §§ 15-5-201 through 15-5-204. A trust is not subject to continuing judicial supervision unless ordered by the court. Administration proceedings brought by a Trustee, trust director, or beneficiary fall within the exclusive jurisdiction described in C.R.S. § 15-5-203, and venue follows the statutory order in § 15-5-204.

12.4 Jury Rights

This Will contains no jury waiver. Any jury right or nonjury determination is governed by applicable constitutional, statutory, and procedural 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 Alternate Dispute Resolution

This Will does not designate a mandatory method of alternate dispute resolution under C.R.S. § 15-5-113. Judicial or nonjudicial alternate dispute resolution remains available to the extent the Colorado Uniform Trust Code and other applicable law permit it.

13.5 Execution Format and Copies

This template is drafted for execution as a conventional written will with attesting witnesses. A copy may be used for information or administration only to the extent accepted by the court or recipient. This clause does not declare a facsimile, PDF, 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], Colorado. 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 permitted by C.R.S. § 15-11-502(1)(c)(I).

1. _________________________________

[WITNESS 1 NAME]

Address: ___________________________

Date: ______________________________

2. _________________________________

[WITNESS 2 NAME]

Address: ___________________________

Date: ______________________________

15. SIMULTANEOUS SELF-PROVING AFFIDAVIT

(C.R.S. § 15-11-504(1); use the later-execution form in subsection (2) 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 the Testator executes it as the Testator's free and voluntary act for the purposes expressed in the Will, and that each of us, in the conscious presence 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 ______________________________

COUNTY OF _____________________________

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

• Colorado General Assembly — 2025 CRS Titles for Download
• Colorado Revised Statutes 2025, Title 15 — Probate, Trusts, and Fiduciaries (official HTML)
• Colorado General Assembly — 2026 Probate, Trusts, and Fiduciaries bill search