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lesser of the (i) the actual amount contributed by each
transferor during the calendar year of the creation of
the trust, or (ii) $10,000.00 per transferor. If an
additional contribution to principal is made to the
trust in a calendar year subsequent to the year in
which the trust is created, each grandchild then living
shall have the power, in his/her sole discretion
commencing with the date of such addition, to withdraw
property then belonging to the principal of the trust
(including the property constituting the addition)
having a value equal at the time of withdrawal to the
value of the addition to trust (at the time of such
addition) immediately after the time of addition,
provided that the individual making the addition shall
have the right by a written instrument filed with the
Trustee to (i) exclude any individual who would
otherwise have a power of withdrawal from exercising
such power, (ii) increase or decrease the amount
subject to any power of withdrawal except that the
amount subject to all withdrawal powers shall not
exceed the amount of the addition, or (iii) to change
the period during which any power of withdrawal may be
exercised. The Trustee shall notify in writing each
person having a withdrawal power [or a legal guardian
or parent thereof] advising each such person of the
existence of the withdrawal power and such notification
shall be made promptly after the creation of the trust
or after an addition is made in a calendar year
subsequent to the year of creation of the trust. * * *
Each such person receiving notification from the
Trustee shall have thirty (30) calendar days (or in the
case of an addition, such other period determined by
the individual making the addition) after receiving
such notification to exercise the power by a written
instrument delivered to the Trustee * * *
Subsequently, on December 22, 1993, decedent signed a
warranty deed transferring title to Apartment 3S of the Westriver
Townhouses to the trust. Such property was the condominium in
which decedent and Mr. Trotter resided. In addition, although
Mr. Trotter was not an owner of the condominium, he also signed
the warranty deed to release any spousal rights in the property
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Last modified: May 25, 2011