Will for Married Individual: Disclaimer Trust (Illinois)

This legal template is a Will specifically designed for married individuals residing in the state of Illinois. The main feature of this Will is the inclusion of a Disclaimer Trust, which allows the testator (the person creating the Will) to establish a trust for the benefit of their spouse while simultaneously maintaining control and flexibility over the distribution of their estate assets.

The Will begins with an introduction, stating the testator's full legal name and their intention to create a Will. It also includes sections outlining the appointment of an executor, who will be responsible for administering the estate according to the testator's wishes.

The Disclaimer Trust provision is a crucial component of this Will. It enables the testator's spouse to disclaim or refuse certain portions of the estate if they choose to do so. By disclaiming a specific asset, the spouse allows it to pass directly into the trust rather than becoming part of their own individual estate. This trust is usually irrevocable and contains specific instructions on how the assets are to be managed and distributed to beneficiaries, such as children or other family members, after the spouse's death.

Furthermore, the Will addresses the care of any minor children, naming guardians who will assume responsibility if both the testator and their spouse pass away. Additionally, it may include provisions for the creation of testamentary trusts to ensure the financial security and management of the children's inheritance until they reach a certain age.

The document concludes with the testator's signature, date, and the signatures of two witnesses, who must observe the testator signing the Will in their presence.

This legal template is created in accordance with Illinois state laws and provides a framework for married individuals to protect their assets, minimize taxes, and distribute their estate in a controlled manner, ensuring the continued financial security of their loved ones.