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my estate and all other items included in my gross
estate for federal estate tax purposes, whether or not
passing under this Will, which qualify for said
deduction. My Personal Representative shall assume
that all payments and legacies under the preceding
Articles of this Will have been fully satisfied and
shall take into account the state death tax credit only
to the extent that use of the credit does not require
an increase in state death taxes payable. I recognize
that, depending upon the size of my estate, the year of
my death and other factors, no amount may pass to this
Marital Trust.
Article IV, paragraph C of the will states:
It is my intention that this bequest shall qualify
for the federal estate tax marital deduction to the
extent that my Personal Representative elects that any
part or all of any amount passing under this Article IV
be treated as qualified terminable interest property,
and the terms of this Will shall be construed in
accordance with such intent. My wife may require my
Trustee to convert unproductive property into
productive property within a reasonable time.
The will requires the trustee to pay the net income of the
marital trust to decedent's wife "in convenient installments at
least quarterly". Any undistributed and accrued income at the
time of the death of decedent's wife is to be paid to the wife's
estate. The trustee is empowered to invade the principal of the
marital trust as deemed necessary to provide for decedent’s wife
in order that she may maintain her standard of living. The
marital trust terminates upon the death of decedent's wife. Upon
termination of the marital trust, any assets remaining after
payment of estate, inheritance, and succession taxes arising from
the surviving spouse's death are to be added to the family trust
created under Article V of the will (discussed below).
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Last modified: May 25, 2011