- 29 - accident to or emergency affecting my said wife, or as may be determined necessary or desirable for her maintenance and support. 3. Upon the death of my said wife, JOSEPHINE R. ARONSON, after my death, or if she shall have predeceased me, then at the time of my death, the then remaining principal of this trust or the amount which would have constituted the principal of this trust, as the case may be, shall be paid over and distributed to my grandson, BARNEY P. ARONSON, if he is living at the time, to be his absolutely. In the event that the said BARNEY P. ARONSON shall predecease the said JOSEPHINE R. ARONSON, the same shall be paid over and distributed to my grandson, SCOTT HALEY ARONSON. 4. The exemption equivalent amount referred to above shall equal the largest amount, if any, by which my taxable estate for federal estate tax purposes (determined without regard to this Article) could be increased without increasing the federal estate taxes payable by reason of my death after taking into account the unified credit and credit for state death taxes available against such tax (provided that the credit for state death taxes shall not be taken into account if I die a resident of a state whose estate or other death tax is limited to the federal estate tax credit for state death tax). 5. I direct my Executor to make the special election under �2652(a) of the Internal Revenue Code with respect to this trust so that I shall be treated as the transferor of such trust for GST tax purposes. B. In the event that my wife, JOSEPHINE R. ARONSON, survives me, I give and bequeath an amount equal to the excess GST exemption amount, as hereinafter defined, to my Trustee hereinafter named, IN TRUST, * * * for the following uses and purposes: 1. My Trustee shall invest and reinvest the same and shall collect and receive the income thereof and after deducting the necessary and proper expenses therewith, shall pay over said net income to my said wife, JOSEPHINE R. ARONSON, in monthly, quarterly, or other convenient periodic payments of as nearly equalPage: Previous 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 Next
Last modified: May 25, 2011