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Appointment”). Additionally, Item V contains no
directive nor authority for the trustee to accumulate
trust income.
The Decedent’s surviving spouse, MRS. ANN
LASSITER, now desires to fulfill her understanding of
her husband’s intentions by disclaiming, renouncing,
and refusing any and all rights, powers, and interest
in the Residuary Trust Inter Vivos Power of
Appointment. Additionally, in order to avoid any
possible confusion, MRS. ANN LASSITER desires to
disclaim, renounce, and refuse any right or interest in
having the income of the Residuary Trust withheld from
the income beneficiary or accumulated and any right or
interest to cause the Trustee of the Residuary Trust to
so withhold or accumulate income which may be said to
exist under the terms of the Residuary Trust or under
applicable Georgia law (hereinafter the “Accumulation
Interest”).
A further disclaimer was executed by Mrs. Lassiter in her
capacity as trustee. As pertinent to the case at bar, this
instrument states:
Paragraph (b) of Item V of the 1970 Will requires
the Trustee to distribute income and/or principal to
the descendants of the Decedent for their support and
education as the Trustee deems necessary (“Trustee
Power to Distribute to Decedent’s Descendants”).
Paragraph (b) contains no directive or authority to
withhold from the income beneficiary or accumulate
trust income.
* * * * * * *
NOW THEREFORE, the Trustee, on behalf of herself
and all successors and assigns, in accordance with
O.C.G.A. Section 53-2-115, having neither exercised nor
accepted any of the above-described powers as trustee,
hereby (i) affirms that under both Georgia law and the
terms of the Residuary Trust the Trustee has no
directive, power, or authority to withhold from the
income beneficiary or accumulate income under the
Residuary Trust; (ii) irrevocably and unqualifiedly
disclaims, renounces and refuses such Trustee Power to
Distribute to Decedent’s Descendants; (iii) irrevocably
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