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power to disburse such amounts from the principal and
income of the trust as the trustee decides is necessary "in
his absolute discretion" for the "proper health, education
and support" of the surviving spouse. Article Fifth (b) of
the decedent's will states as follows:
If at any time, in the absolute discretion
of the Trustee or co-Trustees, my wife, LAURA B.
RAPP, should for any reason be in need of funds
for her proper health, education and support, the
Trustee may in his absolute discretion pay to or
apply for the benefit of my wife, such amounts
from the principal and income of the trust
estate, up to the whole thereof, as the Trustee
may from time to time deem necessary or advisable
for her use and benefit.
The 1986 wills provide that on the death of the surviving
spouse, the trust shall cease and the trustee shall
distribute the residue of the trust to the decedent's sons
or their children.
Before he prepared the 1986 wills, Mr. Clark had
become acquainted with the size and complexity of the
decedent's business and financial holdings due to the fact
that he had handled legal matters for the decedent and his
businesses beginning in the mid-1970's. The decedent had
also given Mr. Clark a personal financial statement dated
April 30, 1986, listing assets of $13,530,671, liabilities
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Last modified: May 25, 2011