Understanding a Basic Will with Trust Provisions

Creating a will can seem daunting, but it doesn't have to be. In this guide, we’ll break down what a basic will with trust provisions looks like and provide practical examples to help you understand how to create one for your loved ones.
By Taylor

What is a Basic Will with Trust Provisions?

A basic will is a legal document that outlines how you want your assets distributed after your passing. When you include trust provisions, you’re setting up a trust within your will to manage your assets for specific beneficiaries, often until they reach a certain age or meet other criteria.

Example of a Basic Will with Trust Provisions

Here’s a simplified example to illustrate how a basic will with trust provisions might be structured:

Sample Will Document

LAST WILL AND TESTAMENT OF [YOUR NAME]

I, [Your Name], residing at [Your Address], declare this to be my Last Will and Testament.

### Article I: Revocation of Prior Wills

I hereby revoke all prior wills and codicils.

### Article II: Appointment of Executor

I appoint [Executor’s Name] as the Executor of this Will. If they are unable or unwilling to serve, I appoint [Alternate Executor’s Name] as the alternate Executor.

### Article III: Distribution of Assets

1. I bequeath the sum of $10,000 to my beloved spouse, [Spouse’s Name].
2. I bequeath my car, a [Car Make and Model], to my child, [Child’s Name].
3. I create a trust for my minor children, [Child’s Name] and [Child’s Name].

   - a. The trust shall be funded with my remaining assets, including my home and savings accounts.
   - b. The trust shall be administered by my appointed trustee, [Trustee’s Name].
   - c. The assets shall be distributed to my children when they reach the age of 25.
   - d. The trustee shall have the authority to distribute funds for health, education, and maintenance of my children prior to them reaching age 25.

### Article IV: Appointment of Guardian

In the event that my spouse does not survive me, I appoint [Guardian’s Name] as the guardian of my minor children.

### Article V: Signatures

I sign this Will on this [Date] at [Location].

____________________________
[Your Name]

Witnessed by:
1. ____________________________
   [Witness 1 Name, Address]
2. ____________________________
   [Witness 2 Name, Address]

Key Points to Remember

  • Trusts within Wills: A trust provision ensures that your assets are managed according to your wishes, especially for minors or dependents.
  • Choosing a Trustee: Select someone responsible and trustworthy to manage the trust, as they will oversee the funds and distributions.
  • Age Consideration: Setting an age limit for beneficiaries can protect them from mismanaging assets too early.

Conclusion

Creating a basic will with trust provisions is a thoughtful way to ensure your assets are handled according to your wishes. By using the example above, you can see how to structure your own will effectively. Remember, it’s always a good idea to consult with a legal professional to ensure your will is valid and meets all legal requirements.