- 4 - deduction in the federal estate tax proceeding relating to my estate, shall equal the maximum marital deduction allowable in such proceeding. Notwithstanding the foregoing, such amount shall not exceed that minimum sum which, when added to such other sums, will have the effect of reducing to zero the federal estate tax (after giving effect to all credits against tax) determined in such proceeding. The marital trust (which is an amount and not a fractional share) shall be established with cash or any other assets qualifying for the marital deduction, first preference to be given to assets not subject under the Internal Revenue Code to a credit for foreign death taxes. All assets allocated to the marital trust shall be valued as of their respective dates of distribution. The marital trust shall be held upon the following terms: A. The entire net income of the marital trust shall be paid to my wife, JOSEPHINE R. ARONSON, at least quarter-annually during her lifetime. * * * * * * * THIRD: If my wife survives me, I give all the rest of my property, real and personal, wherever situated, herein called my residuary estate, to my Trustee to hold as a family trust upon the following terms: A. The entire net income of the family trust shall be paid to my wife, JOSEPHINE R. ARONSON, at least quarter-annually during her lifetime. * * * * * * * FIFTH: As my wife and I in no way want to try to impose the will of the dead hand, it will be up to our heirs to determine who lives in the Big House and the Little House on Hundred Acres. It is our wish that Hundred Acres will always belong to Aronsons, that an Aronson live in the Big House, and that Charles J. Aronson have the use of the Little House as long as he wishes. It is also our wish that our heirs see to it that the property taxes and utility bills are paid so that the Big House will be kept from freezing up or passing from Aronsons through tax default.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011