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In NJ how can I make a will with an included "spend thrift"

In NJ how can I...
In NJ how can I make a will with an included "spend thrift" trust?
JA: Since estate law varies from place to place, can you tell me what state this is in?
Customer: New Jersey
JA: Has anything been filed or reported?
Customer: Nothing yet. I want to include the trust in the Last Will.
JA: Anything else you want the lawyer to know before I connect you?
Customer: NO
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Answered in 5 minutes by:
4/21/2017
Barrister
Barrister, Attorney
Category: Estate Law
Satisfied Customers: 39,490
Experience: 17 yrs estate law, real estate. Wills/Trusts/Probate
Verified

Hello and welcome! My name is ***** ***** I am a licensed attorney and will try my best to help with your situation. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply, but rest assured, I am working on your question.

.

What you are talking about is a "testamentary trust" where you direct the executor of your will to have a trust created for a specific purpose and you fund it with assets from your estate. You would set out the terms of the trust, such as who the trustee is, what assets go into it, what the trustees powers are, who the beneficiary is , and any spendthrift provisions.

.

Then the executor would have that trust funded upon your passing and the trustee would then take over management of the trust assets for the benefit of the beneficiary..

.

.

thanks

Barrister

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Customer reply replied 9 months ago
Thank you.Do I need any specific language in the will and/or the trust?
Customer reply replied 9 months ago
do I need any specific wording in the will and/or trust, or can I use plain language?

Yes, you would need to actually put the specific language in the will that you wanted to go into the trust to make it a spendthrift trust. It is basically you setting up a trust that just springs to life upon your passing.

.

There isn't any mandatory "special" words you need to use, but if you were to google "spendthrift trust clause" it should bring up some language that you could just copy and paste into your will to use.

.

.

thanks

Barrister

Barrister
Barrister, Attorney
Category: Estate Law
Satisfied Customers: 39,490
Experience: 17 yrs estate law, real estate. Wills/Trusts/Probate
Verified
Barrister and 87 other Estate Law Specialists are ready to help you
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Barrister
Barrister
Barrister, Attorney
Category: Estate Law
Satisfied Customers: 39,490
39,490 Satisfied Customers
Experience: 17 yrs estate law, real estate. Wills/Trusts/Probate

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