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The trust agreement provides for the payment of
bequests, debts, expenses, and taxes of the decedent's
estate in the following provision:
Article VI
TRUSTEE'S POWERS
* * * * * * *
6.02 PAYMENT OF BEQUESTS, DEBTS, EXPENSES
AND TAXES OF GRANTOR'S ESTATE. Notwithstanding
the directions previously given as to the
disposition of the Trust after the Grantor's
death:
* * * * * * *
B. PAYMENT OF BEQUESTS, DEBTS, EXPENSES AND
TAXES CERTIFIED BY PERSONAL REPRESENTATIVE OF
GRANTOR'S ESTATE. The Successor Trustee shall
pay those amounts to Grantor's estate or to the
persons or authorities eligible to receive the
same which are certified by the personal
representative of Grantor's estate as being
required to pay (i) any bequest in Grantor's
Last Will, (ii) any of Grantor's debts, health
care expenses, funeral expenses and
administration expenses of Grantor's estate,
except that the Successor Trustee, in its
discretion, may decline to pay any of Grantor's
debts or expenses from life insurance proceeds
which are exempt from creditors' claims, and
(iii) any death taxes imposed by reason of
Grantor's death, including any inheritance,
estate, supplemental estate, generation-skipping,
transfer or succession taxes and any interest and
penalties payable in connection with such taxes.
Such amounts shall be paid first from the Trust
property which is subject to allocation under
Article V.
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Last modified: May 25, 2011