- 8 - the creditors of the surviving spouse’s estate. In partial or complete default of an effective exercise of this special power of appointment, or in the event of the surviving spouse’s remarriage or cohabitation, then the remaining assets of this trust shall be distributed in the same manner as provided in Section 10[4] of this trust. C. Trustee. The following persons or entities shall serve as the trustee of this trust in the following order of priority: (1) Surviving spouse. (2) * * * However, in the event that Vicki Ann Whiting is the surviving spouse, her son, Charles Barry McKewen, shall serve as successor trustee. * * * * * * * D. Administrative Provisions. Sections 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26 and 27 * * * shall apply to this trust. The trustee funded the marital deduction trust with various real estate properties and life insurance proceeds. The value of the assets in the marital deduction trust was $533,762 at the date of decedent’s death. 3. Disability Section Section 15 of the trust agreement (the disability section) 4 Sec. 10 of the trust agreement, “Termination of Trust”, provides that upon the death of the second grantor to die, after payment of expenses, the remaining assets in the trust shall be divided into two equal shares. The first share shall be distributed to the Charles Barry McKewen Trust, subject to the terms and condition of sec. 13 of the trust agreement. The second share shall be distributed to the Stefanie Margo Patterson Bell Trust, subject to the terms and conditions of sec. 14 of the trust agreement.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