Will for Individual with Spouse or Partner: Pot Trust for Children (New Jersey)

This legal template is designed to create a will for an individual in the state of New Jersey who is married or in a domestic partnership and has children. The main feature of this will is the establishment of a "Pot Trust" for the children. A Pot Trust is a type of trust where the assets are pooled together, and the income generated from the pot is used to benefit all the children collectively. This template would provide detailed instructions on how to allocate and distribute the assets upon the individual's death, ensuring that both the surviving spouse or partner and the children are provided for according to their specific needs. It may also include provisions for the appointment of guardians for minor children and other important considerations relating to the administration and execution of the will.