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

This legal template is designed to assist individuals who reside in the state of New York and have a spouse or partner in establishing their last will and testament. The focus of this will is to create a pot trust for any children that the individual may have. A "pot trust" refers to a type of trust where the assets are combined into a single fund, rather than divided into separate shares for each beneficiary. This template will outline the necessary provisions and considerations for distributing and managing the assets of the trust for the benefit of the children, ensuring their financial well-being and protection. It takes into account the specific laws and regulations in the state of New York pertaining to wills, trusts, and estate planning.