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to be paid by the personal representative of the estate out of
the principal of the estate.
On February 24, 1993, pursuant to a “Declaration of Trust”,
decedent established a trust (1993 trust) naming himself as
grantor, trustee, and lifetime beneficiary (grantor and decedent
being one and the same, grantor will hereinafter sometimes be
referred to as “decedent”). Section 1.1 of Article One of the
1993 trust, entitled “Distribution of Income and Principal”,
provides:
During the grantor’s lifetime, while he is serving as
trustee, he shall be entitled to all of the net income
(“Income”) from the trust estate, payable in convenient
installments, and he may withdraw such sums as he desires
from principal at any time or times.
Section 1.2 of Article One of the 1993 trust provides:
[If] at any time or times the grantor shall be unable
to manage his affairs, the successor trustee shall use
such sums from the income and principal of the trust as
the successor trustee deems necessary or advisable for
his care, support and comfort, or for any other purpose
the successor trustee considers to be for the grantor’s
best interests, adding to principal any income not so
used.
Section 3.1 of Article Three of the 1993 trust provides:
Upon the grantor’s death, the successor trustee shall
distribute the residue of the trust estate as follows:
(a) The sum of TWENTY FIVE THOUSAND DOLLARS
($25,000.00) shall be paid by the successor trustee to the
grantor’s sister, MARIAN FRANCES DAVIS, if she survives the
grantor.
(b) The rest of the Trust Estate shall be transferred
and delivered in equal shares to the grantor’s two
daughters, CAROL TAWNEY PENCKE and MARY MARTHA BENNETT, the
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Last modified: May 25, 2011