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declaration), in which he appointed himself trustee and stated
his intention to fund the trust with $100 and “all of the
Properties, Assets and Securities described in ‘Schedule A’”.4
The Sidney Gore Trust declaration further provided that Sidney
Gore retained the power to revoke the Sidney Gore Trust and that
he was entitled to all trust income during his life.
The Sidney Gore Trust declaration also provided that, upon
Sidney Gore’s death, decedent would become the successor trustee
of the Sidney Gore Trust and that after debts, taxes, and
administration costs had been paid, the trust would be divided
into two shares or funds--the Sidney Gore Marital Fund (Marital
Fund) and a credit shelter fund to be known as the Sidney Gore
Family Fund (Family Fund). The Family Fund was to contain
property in a dollar amount equal to that which could pass free
of the Federal estate tax by reason of the unified credit, and
the Marital Fund was to contain the balance of the Sidney Gore
Trust assets.
With regard to the principal and income of the Marital Fund,
the Sidney Gore Trust declaration provided, in pertinent part, as
follows:
(a) Commencing at my death and during the life of
my Wife, the Trustees shall pay the income to my Wife
in monthly or more frequent installments as may be
convenient to her.
4Schedule A was not attached to the copy of the Sidney Gore
Trust declaration in the record.
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Last modified: November 10, 2007