HomeMy WebLinkAbout0223 ARTICLE 11 - DISCRETIONARY POWER OF INVASION OF CORPUS
In addition to the net income, Che Trustee is authorized in its
sole and absolute discretion at any time and from time to time, to pay
or apply from the corpus of the Trust, even to the point of completely
exhausting the same, such amounts as it may deem advisable to provide
adequately and properly for the support, maintenance, welfare and comfort
of one or more of any then income beneficiary under this Trust. The
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Trustees, however, shall not exercise such discretion unless all other ~
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visible assets of the then income beneficiary appear to be exhausted. ~
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ARTICLE 12 - POWERS ;
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The Grantor hereby grants to the Trustees the continuing, absolute,
discretionary power to deal with any property, real or personal, held in
trust, as freely as the Grantor might in handling the Grantor's.own
affairs. Such power may be exercised independently and without the prior ~
i or subsequent approval of any court of judicial authority, and no person
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~ dealing with the Trustees shall be required to inquire into the propriety
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~ of any of their actions. Without in any way limiting the generality of
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~ the foregoing, the Grantor hereby grants to the Trustees hereunder, the
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q• following specific powers and authority in addition to and not in suh-
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stitution of powers conferred by law:
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~ A- To compromise, settle, or ad3ust any claim or demand by or
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against the trust estate and to agree to any recission or mo -
~ ification of any contract or agreement.
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B. To retain any security or other property oWned by the Grantor
~ at the time of the Grantor's death, so long as such retention
appears advisable, and to exchange any such security or pro-
~ perty for other securities or properties and to retain such
items received in exchange.
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C. To sell, exchange, assign, transfer and convey any securities
= or properties, real or personal, held in the Grantor's Trust f
- estate, at public or private sale, at such time and price and i
upon such terms and conditions as they may determine, and to '
~ register and carry any property in their own name or in the
name of their nominee or to hold it unregistered but without
= thereby increasing or decreasing their liability as fiduciary.
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