HomeMy WebLinkAbout0207 I. If.at any time any balance remaining in a trust share
shall be less than ten thousand ($10~000.00) Dollars~
then and in that event~ ae to such trust share this trust
shall end an3 distribution shall be made of the balance
of the trust corpus and accumulated income in that trust
share to the beneficiary of that trust share.
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~ ARTICLE 7 - MINORS
If~ pursuant to the provisions of t is Trust any property shall
become payable to or vest in a minor and the Grantor has not
provided specifically for such minor in this Agreement, the
Crantor suthorizes and empoWers the Trustees to establish a
Trust for that minor and~ in their discretion, to do any or all
of the folloving: ~
p. In the case of income from any trust~ to accumulate
~ and add to principal such part or all of such income
as they may deem aot to be reasonably required for
the support~ maintenance~ health, or education of
such minors.
B. To pay over or deliver such property~ Whether incon+e
or principal in whole or from time to time in part~ to
a parent or duly appointed guardian of such minor or
to any person whom such minor may reside for the use
and benefit of such minor, and the receipt of such
; ~ parent, guardian or other person shall be a complete
i discharge to the Crantor's Trustees.
~ C. In the case of principal, the Crantor's Trustees may
~ receive or retain sucH property and hold the same in
~ trust on behalf of such minor during his or her minority
~ and deliver aad paq over the same to such upon his or
~ ears. While t
3 her attaining the age of twenty-one (21) y
~ said property may be held by the Trustees, they may
~ exercise With respect thereto all the povers which are
~ conferred upon the Grantor`s Trustees hereunder.
specifically including the power to sell, lease or
mortgage real propertq, and theq are hereby further
empowered to pay out for the benefit of such minor such
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~ part or all of the income and principal of such property
as to them shall seem proper for the support, maintenance,
~ health~ education or comfort of such minor.
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~ ARTICLE 8 - TAYES
x4a The Grantor directs t at all estate or death taxes, by whatever
name given~ including interest and penalties thereon~ impoaed
}it under the laws of any jurisdiction by reason of the ~rantor's
= death upon or in relation to property includible in the Grantor's
estate for the purpose of such taxes, whether such property passes
~q`=' under or outside of this Trust Agreea?ent~ be paid out of the
corpus of the GUDRUN HANSEN FAMILY TRUST~ and that no portion
Y£~ thereof be paid from the corpus of the ARTHUR B. HANSEN SHARE
qualifying for the Marital Deduction.
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