Will for Individual with Spouse or Partner: Separate Share Trusts for Children (New Jersey)

This legal template is designed to assist individuals residing in the state of New Jersey who are married or in a domestic partnership, in creating a will that includes specific provisions regarding the distribution of their assets and the care of their children after their passing.

The main focus of this will is the establishment of separate share trusts for the benefit of the children. This means that the assets designated for the children's inheritance will be held in trust and managed by a designated trustee until the children reach a certain age or milestone specified by the testator. The separate share trusts aim to provide financial security, management, and control over the assets, ensuring they are used for the benefit and welfare of the children.

It is vital for individuals to have a will in place to ensure their wishes regarding the distribution of their assets, including real estate, personal belongings, and financial accounts, are documented and legally binding. This specific template caters to the needs of individuals in New Jersey who have a spouse or partner and want to structure their estate plan by setting up separate share trusts for their children.