Will with equitable life estate and right to purchase real property.

I, _________, of the City of _________, County of _________ and State of _________, do hereby make, publish and declare this to be my Last Will and Testament, hereby revoking any and all former wills made by me.

First. I direct that all of my legal debts and funeral expenses be paid as soon as it conveniently may be done after my decease.

Second. I direct that my tangible personal property be sold.

Third.

(a). I give and bequeath unto _________ the sum of $_____.

(b). I give unto _________ and _________ the right to purchase from my estate, my real estate in _________ Township, _________ County, _________, see Deed Book Volume —, page —, for its appraised value at the time of my death. Said right shall be exercised by written notice to my Executor within six (6) months after my death. If these parties do not purchase same, said real estate shall be sold on the open market, and the proceeds be part of my residuary estate.

Fourth. All the residue of my estate, I give to _________ to hold in Trust in the manner set forth.

(A). The Trustee shall invest and reinvest this Trust Estate and shall distribute the Net Income (hereinafter called "Income") and principal as follows:

(1). During the lifetime of _________ if she survives me, the Trustee shall pay the Income quarter-annually to her for the benefit of _________ for so long as she shall live.

(2). If the Trustee considers the income to be insufficient in view of other income of which it has knowledge to provide for the welfare and comfortable support of _________, including funeral expenses, the Trustee is authorized in its discretion to use such sums from principal as it deems advisable thereof.

(3). Upon the death of _________ the then principal shall be divided into equal parts and shall be distributed as follows:

(a). _________ (_________) part to _________, if living.

(b). _________ (_________) part to _________, or if she is deceased, to her then living issue per stirpes.

(B). If any remainderman under the foregoing provisions is a minor and is entitled to a share in excess of the amount which may be paid to his or her natural guardian, such share shall be retained by the Trustee in a separate trust until the twenty-first (21st) birthday of said remainderman, at which time, the trust shall terminate and the principal shall be transferred and delivered to him or her free of trust. During such minority period, the Trustee shall pay to the person having custody of said remainderman, without liability on the part of the Trustee to see to the application thereof, or may expend directly so much of the Income and principal as it deems advisable for the welfare, comfortable support and education of said remainderman and shall add any excess Income to principal and invest it as such. In the event of the death of said remainderman during minority, the Trustee is authorized in its discretion to pay part or all of the funeral expenses, and the remaining principal shall be transferred and delivered to said remainderman's heirs, subject to the provisions of this paragraph.

(C). The interest of any beneficiary hereunder, including a remainderman, in Income or principal, shall not be subject to assignment, alienation, pledge, attachment or claims of creditors until after payment has actually been made by the Trustee as hereinbefore provided.

(D). Upon the death of any Income beneficiary, any Income accrued or received by the Trustee subsequent to the last Income Payment date shall be paid to the person or persons for whose benefit the principal producing such Income is continued in trust or to whom such principal is distributed under the terms hereof.

(E). Corporate distributions received in shares of the distributing corporation shall be allocated to principal, regardless of the number of shares and however described or designated by the distributing corporation.

(F). The Trustee hereunder shall have the following powers, in addition to and not in limitation of those granted by law; to accept assets in kind in distribution from my estate; to collect proceeds of insurance on my life and to use such proceeds to purchase assets from my estate; to retain assets in kind, including shares of its own corporate stock, or to sell the same and to invest and reinvest the proceeds of any cash in any kind of property, real or personal, or part interest therein, without being restricted to investments which are listed as legal for trust funds; to pledge, exchange or mortgage real or personal property and to lease the same for terms exceeding five (5) years; to give options for sales, leases and exchanges, to borrow money; to compromise claims; to vote shares of corporate stock, in person or by proxy, in favor of or against management proposals, except that the Trustee shall vote shares of its own corporate stock only as directed by a competent adult Income beneficiary of the trust in which said shares are held; to carry securities in the name of a nominee; to make division or distribution hereunder either in cash or in kind; and to allot different kinds of or interests in property to different shares.

(G). The Trustee may resign at any time, without stating cause, by petitioning a court of competent jurisdiction to designate and appoint a successor corporate Trustee. In case of the merger or consolidation of the Trustee, the resultant company shall become successor Trustee hereunder without notice to any party.

(H). The Trustee shall be entitled to receive annual compensation for its services hereunder in accordance with its schedule in effect when the services are performed, but not in excess of such compensation as would be approved by a court of competent jurisdiction.

Fifth. I appoint _________ Executor of this my Last Will and Testament, giving to my Executor the same powers as are hereinbefore given to my Trustee, including the right to distribute my securities or other property in kind.

No bond shall be required of any fiduciary hereunder in any jurisdiction.

Sixth. I direct that all estate, inheritance and other taxes in the nature thereof, together with any interest and penalties thereon, becoming payable because of my death with respect to the property constituting my gross estate for death tax purposes, whether or not such property passes under this Will, shall be paid from the principal of my residuary estate; and no person receiving or having a beneficial interest in any such property, whether under this Will or otherwise, shall at any time be required to contribute to or refund any part thereof. At any time prior to the vesting of a future interest in possession and enjoyment, my Executor or the Trustee to whom my residuary estate has been distributed shall have the discretion to elect to prepay all or any part of the death taxes thereon, and such election shall be binding upon all parties in interest.

In witness whereof, I have set my hand and seal on _________[date].

_________(Seal)

Signed, sealed, and published and declared by the above named Testator, _________, as and for his Last Will and Testament, in the presence of us, who in his presence, at his request and in the presence of each other have hereunto subscribed our names as witnesses thereto.

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