- 9 -
provides:
Age Requirement or Disability. If any person has
not attained the age of thirty (30) years, or if any
person who is, in the Trustee’s opinion, disabled
because of advanced age, illness or other cause when he
or she becomes entitled to any distribution pursuant to
any trust created by this Trust Agreement, then his or
her separate share shall be held IN TRUST for the uses
and purposes and subject to the terms and conditions
hereinafter set forth:
A. Distribution of Income and
Principal. After the payment of all
reasonable and necessary expenses incurred in
the management of the trust, the Trustee is
authorized to distribute to or apply for the
benefit of such beneficiary, so much of the
net income and principal of his or her
separate share of the trust as in the
Trustee’s absolute discretion deems
appropriate. The exercise of this power by
the Trustee is within the Trustee’s sole
discretion and the Trustee may accumulate the
annual net income of each beneficiary’s
separate share of the trust to be added to
such beneficiary’s principal to whatever
extent and in whatever amounts that the
Trustee deems appropriate.
Prior to the termination of this trust,
it is the Grantor’s desire but not the
Grantor’s direction, that the income and
principal of each separate share of this
trust so distributed or applied as provided
above, be distributed to or applied primarily
for the health, education, maintenance and
support of each beneficiary. To this end, it
is the Grantor’s desire that each beneficiary
be provided a standard of living which is
similar to the standard of living that is
being enjoyed by their peers.
For the guidance of the Trustee, the
Grantor directs that all beneficiaries need
not be treated the same; that one or more of
the beneficiaries may be wholly excluded from
any or all periodic distributions; and that
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