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WILLS - Young Family, Minor Children
    The single trust Will names a Trustee to hold some or all of the Testator's assets in trust for the benefit of persons designated in the Will.  A single trust Will is often used is by parents with young children. 

    A single trust Will usually provides that a wife will leave everything to her husband if he survives her.  However, in the event that her husband does not survive her, her property does not pass directly to her children as it would when they are grown.

    Instead, she will name a Trustee in her Will to hold property for the benefit of her children until the children reach a specified age (usually 25 or 30).  The Trustee is authorized to use the funds held in trust to provide for the children's financial needs (food, clothing, medical, education, etc.) during the term of the Trust.  When the children reach the age specified in the Will, the balance remaining in the Trust is distributed as directed by the Will.

    The Trustee may or may not be the same person she nominates as Guardian to take physical care of her children in the event both she and her husband are deceased.

    The specific provisions for your Will, of course, will vary based upon a number of factors, including but not limited to: your marital status, whether you have children, the number of children you have, and the ages of your children. 

    When I prepare a single trust Will for a client, it usually requires two office visits.  During the first visit the client and I will discuss his or her particular situation and the client will provide me with names and addresses of his or her intended beneficiaries, guardians, and trustees as well as other relevant information which will be incorporated into the Will.  I will then prepare a draft using the information disclosed during the initial meeting and mail the draft to the client for review.  If the draft correctly expresses the client's intent, I will have the Will printed on high-quality bond paper and the client will schedule a second appointment to come in and sign the Will. 

    If you or your spouse have children from other relationships, a simple single trust Will is probably not applicable for your situation.  Please see topic heading: "Wills for Persons with Blended Families."

This page was written on 04190.

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