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trust was initially funded primarily with proceeds from that
sale.
The will of Henry A. Rudkin referenced above sets forth the
governing provisions of the trust. In general, income and
principal of the trust were to be applied for the benefit of
Henry A. Rudkin’s son, William L. Rudkin, and the son’s spouse,
descendants, and spouses of descendants. Principal distributions
were also subject to a special power of appointment held by
William L. Rudkin. The trustee and other fiduciaries of Henry A.
Rudkin’s estate were provided with broad authority in the
management of property, including the authority “to invest and
reinvest the funds of my estate or of any trust created hereunder
in such manner as they may deem advisable without being
restricted to investments of the character authorized by law for
the investment of estate or trust funds” and “to employ such
agents, experts and counsel as they may deem advisable in
connection with the administration and management of my estate
and of any trust created hereunder, and to delegate discretionary
powers to or rely upon information or advice furnished by such
agents, experts and counsel”.
The trustee engaged Warfield Associates, Inc., to provide
investment management advice for the trust. During the taxable
year 2000, Warfield Associates, Inc., was paid $22,241.31 for its
services.
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Last modified: May 25, 2011