-7-
added such property shall be covered by the provisions
hereof the same as if originally hereunder.
II. Dispositive Provisions. The Trustee shall hold,
manage, invest and reinvest the assets of the trust, collect
the rents, interest, dividends and other income therefrom,
deduct the costs and expenses thereof and administer the
trust as follows:
(a) At any time and from time to time during each
calendar year the Beneficiary may demand by written
instrument delivered to the Trustee up to the value of any
gifts transferred hereto during that year, payable by the
Trustee upon receipt of demand made. If the Beneficiary
fails to exercise this right during any calendar year, this
right as to that calendar year shall lapse and shall not be
cumulative. If the Beneficiary is a minor or otherwise is
laboring under any legal disability, the Beneficiary's
guardian, or if no guardian exists, the person having
custody over such Beneficiary, shall be authorized but not
required to make such written demand on behalf of the
Beneficiary, and the property received pursuant to such
written demand shall be held by the guardian or custodian
for the benefit and use of such Beneficiary.
Whenever any transfer of property is made to the
Trustee hereunder, the Trustee shall give immediate written
notice of the withdrawal rights hereunder, and any such
transfer, to the Beneficiary or, if the Beneficiary of
Grantor is under legal disability, to his or her legal
guardian or, in case no legal guardian has been appointed
for the Beneficiary, to the person having custody of such
Beneficiary. The Beneficiary (or his guardian or custodian)
may exercise the withdrawal right granted hereunder by
delivering a written instrument to the Trustee at any time
on or before the sixtieth (60th) day after receipt of notice
from the Trustee, or the last day of such calendar year,
whichever shall first occur. The Trustee shall be
authorized in satisfying any withdrawal right to distribute
cash or other property of the trust.
Issue 1. Whether Decedent Transferred Her Life Estate in the
Weinstock Residence When She Attempted To Give Fractional Fee
Simple Interests to Her Children in 1984, 1985, and 1986
Transfers of the Weinstock Residence
Decedent wanted to reduce her taxable estate and discussed
with her family and her attorney various methods of doing so.
Beginning in 1984, decedent decided to avail herself of the
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