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Estate Planning

Not sure why you need a will and/or trust? Check out The Will of John Doe (which is your will if you have no will!)

 

LAST WILL OF JOHN DOE

  1. I, John Doe, a permanent resident of the state of Wyoming, being of somewhat sound mind, and having insufficient time or desire to prepare my own will, hereby adopt the will provided me by the state of Wyoming as follows:

    Part A
    Personal Representative


  2. I don't care who is appointed as my personal representative, (the person in charge of carrying out my will), and the court and my survivors can pick anyone they choose, (but not a non-resident of Wyoming). I declare that my personal representative must buy an expensive fidelity bond and the annual premiums for this bond will be paid out of my property so that my family will inherit less from me. If my personal representative dies before the administration of my estate is completed, I don't care who is appointed as a successor personal representative, and I direct that my estate be subjected to the delay and expense involved in going through the appointment procedure all over again.

    Part B
    Powers of Personal Representative

  3. My personal representative shall not be given the flexibility to deal with any problems in administering my estate as they arise, but rather shall be required to request court approval before taking any major actions. In particular, my personal representative shall not be able to sell my assets to pay my bills without a court hearing and notice to all my heirs, court authorization thereafter to sell, and subsequent court approval following the sale. If the court determines that a sale of my assets must be by public auction, I direct that notice of the sale be published in a newspaper once a week for three consecutive weeks and that the expense of this notice and of the auction be paid out of my estate so that my family will receive less of an inheritance.

  4. I do not wish to give my personal representative any specific or special authority to carry on any business owned by me at the time of my death. It is my instruction that my personal representative and the court be more concerned with the rights of my banker and other creditors for three months after I die than with the needs of my family or my business. I do not wish my personal representative to have any specific authority to make distributions to minors, but rather I direct that my personal representative require expensive and time consuming guardianship and conservatorship proceedings before any distribution to a minor is made. I do not grant my personal representative any authority to resolve disputes in a manner which would be binding on my heirs, but rather I direct that all disputes between or among my heirs be resolved in court upon full hearing with each side being fully represented by attorneys who should feel free to request payment of their fees out of my estate if the court will allow it.

    Part C
    Personal Representative's Fees


  5. I hereby declare that I made no particular plans for avoiding probate, and therefore I insist that my personal representative and personal representative's attorney be paid the full probate fee for all assets of mine which I did not try to keep out of a probate proceeding.

    Part D
    Provisions For My Wife


  6. Although I dearly love my wife, I don't think she should have all of our property if I die before her. If I have any children or grandchildren surviving me, then my wife can only have half of my property.

  7. If my wife and I die in a common accident or disaster or under circumstances creating any doubt as to which of us survived the other, I do not wish to exercise my right to provide for a distribution of property to take advantage of any tax deductions. I direct that my property not be distributed to my wife at all, so that I will not receive a "martial deduction" from federal estate tax and I can thereby ensure that the federal government will get as much as it can from my assets and my family will get as little as possible from my assets.

    Part E
    Provisions For Children


  8. If my wife dies before I do, I do not care, who will be named as guardian to take care of any children I have who are minors at the time of my death.

  9. If my wife survives me, then I direct that my children get half of my property, regardless of how many children I have or how old they are. If my wife does not survive me, I direct that my children get all of my property. My property will be divided equally among my children (the grandchildren dividing equally the share of any deceased child), regardless of whether I have one child who has greater needs than the others. I do not care which of my children gets any of the family keepsakes or heirlooms, and I leave this up to my personal representative (and I do not care who my personal representative is). If my children take this occasion to fight with each other the right to inherit any special items because I failed to let my wishes be known, I direct that any such disputes be resolved in court upon full hearing with as many lawyers as my children want to hire, with as much in legal fees paid out of my estate as the judge will allow. It is further my preference that the loser or losers in any such family fight hold a grudge against the winner or winners for the rest of their natural lives if they so desire.

  10. If my wife dies before me and any of my children are minors, I direct that an expensive conservatorship be established for handling their money, in addition to the simple guardianship for the purpose of raising them to adulthood. I direct that the conservator of a child's money reports to the court every year and incurs the expense of hiring an accountant to prepare annual accountings and hires an attorney to prepare a report and obtain an order from the court. Of course, all of this expense should be paid out of the child's money so that the lawyers and accountants can get more and my child can get less. I also direct that each child receive full control of their share of my estate when they reach age 19, regardless of how sensible they may be at that time. I direct that the inheritance of each child age 19 or older be subject to attachment by any creditor and I direct that the inheritance be freely transferable, whether in poker games or otherwise.

    Part F
    Miscellaneous Provisions


  11. I direct that my personal representative does nothing to save me any federal estate tax, it being my desire to make the United States government one of the bigger heirs of my estate.

  12. I have made no effort to simplify things for my personal representative, and I hereby state that the personal representative has received no help from me in determining the inventory of assets owned by me or the value of each asset.

  13. I direct that my personal representative refrains from creating any trusts and taking advantage of any tax-savings, professional money management, and capital preservation benefits which a trust could provide for my heirs.

  14. I direct that my personal representative refrains from utilizing any available procedures for distributing the assets of my estate by affidavit, and I insist that my estate be probated no matter how small it is and that my heirs be subjected to the resulting delay and expense.

  15. If I don't tell somebody before I die whether I have any special wishes about my funeral or about donating any body organs to science, they will just have to guess about it like everything else and do what they wish.

  16. If I have property located outside the state of Wyoming, then my survivors shall have to tolerate another probate proceeding according to the terms of the will drafted for my by the state in which that property is located.

 


/S/John Doe

 

 

 

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Thomas N. Long, P.C.
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