Will for Single Individual: Separate Share Trusts for Children (Pennsylvania)

This legal template is a document designed for a single individual residing in Pennsylvania who wants to create a will. The focus of this will is to establish separate share trusts for the individual's children.

A separate share trust is a legal instrument that allows a person to allocate specific assets or amounts of money to each of their children while managing and controlling the distribution of these assets until a certain condition or age is met. This type of trust ensures that each child receives a fair and appropriate share of the estate, regardless of their individual circumstances or the number of children involved.

The template provides a framework for the individual to outline their wishes and intentions regarding the division of their assets among their children. It includes sections to name the executor(s) of the will, who will be responsible for managing and distributing these separate shares according to the individual's instructions.

Furthermore, the template may include provisions for determining the age or conditions under which the children will receive their share, such as reaching a certain age, graduating from college, or achieving specific milestones. The individual can also specify any specific conditions or limitations on the distribution of these separate shares, such as using the funds for education, medical expenses, or other designated purposes.

As this template is specific to Pennsylvania, it may include state-specific legal requirements, terminology, and references to applicable laws. It is essential for the individual to consult with an attorney or legal professional familiar with Pennsylvania law to ensure compliance and accuracy.