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share of either of them who is deceased to go to her then
living descendants, per stirpes or, if she has none, to be
added to the share of the grantor’s other daughter, or if
she is deceased, to her descendants, per stirpes.
* * * * * * *
(d) The interest of any beneficiary hereunder,
including a remainderman, in Income or principal, shall not
be subject to assignment, alienation, pledge, attachment or
claim of creditors until after payment has actually been
made by the successor trustee as hereinbefore provided.
Article Four of the 1993 trust provides for the powers of a
trustee. Article Five of the 1993 trust names decedent’s two
daughters as successor trustees, and Article Five also provides
that in the event that neither can serve as trustee, PNC Trust
Company of Florida, N.A., shall serve as the successor trustee.
Article Six of the 1993 trust provides for the grantor’s powers,
and Article Seven of the 1993 trust indicates that Florida law
governs the trust. The 1993 trust was initially funded with
securities with a total cost of $124,013 and a total market value
of $207,637.73.
Decedent later married Evelyn Davis. On April 9, 1996,
decedent executed a “First Codicil to Last Will” (codicil) and
amended the trust by executing an “Amendment to Declaration of
Trust of Ralph H. Davis” (amended trust)(the 1993 trust and the
amended trust are collectively hereinafter sometimes referred to
as the “testamentary trust”).
The codicil modified the 1993 will and provided for the
transfer of remainder of decedent’s estate to the amended trust
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Last modified: May 25, 2011