Will with Legacies for Children

Updated at:March 2010
 
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This is the last will and testament of me, Anil Kumarof, etc. This will be operative with effect from my death. I hereby revoke all wills and codicils by me heretofore made.

  1. I hereby appoint Chirag Desaiof, etc., andVastav Shastriof, etc., as the executors of my this will, trustees of my estate and also the guardians of the person and property of my minor children,Vivek Kumarand Indira Kumar, during the respective periods of their minority. In case any one of the executors fails to obtain probate or act as trustee and guardian, the other shall act as the sole executor, trustee and guardian.

  2. I direct my said executors or executor and trustees or trustee to pay out of my estate a sum of Rs. 1 lakh toAshish and a further sum of Rs.1 lakh toYatin for their absolute use and benefit and I hereby give, leave and bequeath the same unto and in their favour absolutely. It is my further wish and desire that a sum of Rupees 1 lakh should be paid for the expenses of the marriage ofManoj Kumarof, etc., should I not celebrate his or her marriage during my lifetime and I direct my said executors or executor and trustees or trustee to pay the same accordingly on the occasion of his or her marriage.

  3. Subject to what are hereinbefore stated, my said executors or executor and trustees or trustee shall, after defraying the costs, charges and expenses of administration, hold and possess the entire estate, both movable and immovable, in trust for my children for their maintenance and support until the youngest of them shall attain the age of 21 years.

  4. My said executors or executor and trustees or trustee shall be entitled to convert the movables only into money which should be invested in the purchase of Government securities or trustees securities or in loans against the first mortgage of houses and lands or in any other good and sound investments with power to draw interest, dividends, etc. to alter and vary the same at their discretion such investment or investments into other investment or investments of the same or like nature, to be held upon trust as aforesaid.

  5. My said executors or executor and trustees or trustee shall look after, manage and keep and maintain in good repair and develop all my properties, and realise the rents, profits and other income thereof.

  6. I further direct that my said executors or executor and trustees or trustee...

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