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Example Will Creating a Life Estate

by barb findlay

1993

NOTE: This is an example for educational purposes only. It is not to be used as a legal precedent. For legal advice regarding an actual situation, please consult a lawyer.

This is the Last Will and Testament of me, bryan farquharson, of 1234 Main Street, Vancouver, British Columbia.

1. I hereby revoke all my earlier Wills and Codicils and declare this only to be my Last Will.

2. I appoint barbara gene, of Vancouver, British Columbia, to be the Executor of my Will and Trustee of my estate.

3. I declare that the expression "my Trustee" used throughout my Will includes, where the context permits, the Executor and Trustee for the time being of my Will, whether original, additional or substituted.

4. I authorize my Trustee:

a. to pay all my just debts, funeral expenses and testamentary expenses as soon as possible after my death;

b. to use her discretion in the realization of my estate with authority to sell, call in and convert into money any part of my estate not consisting of money at any time and in any manner and on any terms that my Trustee decides;

c. to postpone the conversion of my estate for as long as my Trustee thinks best;

d. to retain any of my investments or assets in whatever form they are in at the date of my death without responsibility for loss.

5. I GIVE all my real and personal property, whatever and wherever to my Trustee upon the following trusts:

6. to hold my entire estate (the "Property"), upon the following trusts:

a. pierre valcourt shall have personal use and occupation of the Property as a place of residence, and use of the contents thereof during his lifetime;

b. the monthly rent payable by pierre valcourt during his lifetime shall not exceed the prorated monthly cost of taxes and insurance on the Property. Pierre Valcourt shall be responsible for the costs of utilities;

c. my Trustee shall be responsible for necessary and reasonable upkeep and maintenance of the Property. I direct my Trustee to make payments from the capital, or the income of my estate to pierre valcourt for the costs of maintenance and repairs which appear to my Trustee to be reasonable and necessary;

d. my Trusee shall be responsible to ensure that the grounds of the property are maintained as nearly as possible in thes ate they were at my death and in particular:

i. the indiginous grasses shall remain uncut;

ii. no trees shall be trimmed or cut down unless in the opinion of my Trustee such trimming or cutting is necessary of the health of the remaining trees;

iii. no activity which may pollute any stream in or on the propery shall be permitted.

e. I authorize my Trustee, during the lifetime and with the consent of, pierre valcourt to lease the premises on such reasonable terms as my Trustee may determine such that the rents received thereby are paid to pierre valcourt;

f. that upon the death of pierre valcourt, the entire residue of my estate shall pass to nature's choice conservation society for their use absolutely.

In witness whereof I have hereunto set my hand this day of *.

Signed, published and declared by bryan farquharson, as and for his Last Will and Testament, in the presence of us, both present at the same time, who at his request, in his presence, and in the presence of each other, have hereunto subscribed our names as witnesses:

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Name

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Address

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City

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Occupation

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Name

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Address

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City

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Occupation

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)  bryan farquharson
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End of document

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