HomeMy WebLinkAbout0206 ARTICLE 6- THE HANSEN CRANDCHILDREN TRUST
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Any shaYes se hereinabove created to be held in the HANSEN
GRANDCHILDREN TRUST shall be held as separate shares for the
indicated beneficiaries pursuant to the followinR terms and -
conditions. ;
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A. At quarterly or more frequent intervals~ the ~
Trustees shall pay or apply the net income from
each share to or for the benefit of the respec[ive
beneficiary of that shaYe. ~
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B. The Trustees shall have the discretion to invade
the corpus of each trust share for the support~ ;
health~ velfare~ maintenance or education of that
Trust's beneficiary.
C. Upon a beneficiary attainin~ the age of tventy-five
(25) years, that beneficiary shall have the option
of requesting a distribution of one-third (1/3) of the
then existing trust corpus and accumulated income in
that beneficiary's trust share.
D. Upon a beneficiarq attaining the age of thirty (30)
years~ that beneficiary shall have the option of re-
. questing a distribution of one-half (1/2) of the then
existing trust corpus and accu~nulated income in that
1, beneficiary's trust share.
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E. Upon each beaeficiary attaining the age of thirty-five .
~ (35) years.-as to such beneficiary this trust sha11
¢ cease and all remaining corpus and accumulated income
~ then existing in that beaeficiary's trust share shall be
~ distributed outright to such beneficiary Without any
~ restrictions whatsoever.
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~ F. In the event any beneficiary should become deceased
~ prior to the termination of this trust as to such
~ beneficiary, the Trustees ahall upon the death of such
~ beneficiary distribute the then remaining trust corpus
~ and accumulated income to the then surviving issue of
~
: such beneficiary. ,
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~ G. In the event that no issue survive pursuant to the
~
~ terms of Paragraph F immediatelq above. the Trustees
~ shall distribute the then remaining trust corpus and ;
accumulated income of the deceased beneficiary's trust ?
share equally among the other beneficiaries of this 3
Trust who then survive.
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H. In the event that no issue survive pursuant to the
terms of Paragraph F and also no other beneficiaries
s~~:
~ survive pursuant to Paragraph G, then and in that event
the remaining trust corpus and accumulated income of the
deceased beneficiary's trust share shall pass to such
'::-'Z deceased beneficiary's estate.
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