- 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shall be terminated by the death of * * * any Beneficiary * * * The share of the Beneficiary dying * * * shall be withdrawn from this Agreement and shall be administered, distributed or otherwise disposed of according to the terms of the Deed of Trust.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