Estate of Sarah E. Greve, deceased, Charles E. Greve & David R. Greve, Co-Executors - Page 24

                                       - 24 -                                         
          pertinent part as follows:                                                  
                    4.  This Agreement shall terminate upon the                       
               happening of any of the following events:                              
                         (a) the death of any Beneficiary;                            
                         (b) written notice to the Trustee that any                   
                              Beneficiary desires to terminate the                    
                              Agreement;                                              
                         (c) written notice by the Trustee to the                     
                              Attorney-in-Fact that it desires to                     
                              terminate the Agreement;                                
                         (d) revocation by any Beneficiary of the                     
                              appointment of the Attorney-in-Fact.                    
                    If the Agreement shall be terminated by the death                 
               of * * * any Beneficiary * * * The share of the                        
               Beneficiary dying * * * shall be withdrawn from this                   
               Agreement and shall be administered, distributed or                    
               otherwise disposed of according to the terms of the                    
               Deed of Trust. * * *                                                   
               We note initially that the agreement to amend the inter                
          vivos trust provided that it was intended to relate only to the             
          administration and management of the principal of that trust and            
          not to affect the substantive rights of any distributees under              
          the deed of trust.  Moreover, assuming arguendo that each of the            
          beneficiaries of the inter vivos trust other than decedent had an           
          interest in $5,000 of the principal of that trust that was                  
          substantial and that was adverse to decedent’s interest and that            
          the agreement to amend the inter vivos trust had not terminated             
          before decedent’s death,12 pursuant to its terms, that agreement            

               12The estate has failed to carry its burden of establishing            
                                                             (continued...)           





Page:  Previous  6  7  8  9  10  11  12  13  14  15  16  17  18  19  20  21  22  23  24  25  Next

Last modified: May 25, 2011