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HomeMy WebLinkAbout0222 REVOCABLE TRUST AGREEMENT OF ANNA D. PAUSIN - Fage Three If Settlor's said niece shall not be livinq at the death of Settlor or shall not survive for a period of five.(5) years from date of Settlor's death, then this trust shall terminate and be distributed equally to said niece's then living children, per stirpes, provided that if any such living children of Settlor's said niece shall not have attained twenty-one (21) years of age, the share of any .such person shall be retained by the Trustee to be held, manaqed, invested and distributed under the provisions of Paragraph D of this ARTICLE II. D. If by reason of any provision of this instrument any property becomes payable to a person who at the time specified for such payment is under the age of twenty-one ( 21) years , such property shall be held by the Trustee as follvws : ! 1. The Trustee is authorized in its discretion to retain such property or its proceeds until such person shall attain the age of twenty-one (21) years, and to accumulate all or any of the net income thereof during such period for the benefit of such person and to apply all of any of such property or its proceeds and all or any of the net income thereof, including any such accumulation, to such person's support, main- tenance, health, education and welfare during such period at such time or times and in such manner as the Trustee may deem best. ' 2. At any time during such period_when there ~ - - is a duly qualified guardian of the property ~ of such person in any jurisdiction, the Trus- ! tee is authorized, in its discretion (but is ~ ' not directed to do so), to ~ay over all or ~ any of such property or its proceeds and all or any of the net income thereof, including any such accumulation to such guardian. ~ 3. Any _ uch property or its proceeds and any ~ net income thereof remaining in the hands of the Trustee when such person attains the age - of twenty-one (21) years shall thereupon be paid over outriqht to such person, or in the event of such person's earlier death, shall be paid over to such person's duly qualified legal representative. E. In the event that either of Settlor's said nieces, ~ or their children from time to time surviving, shall be in need of funds in excess of the net income dis- tri.butab le to them under the terms of this trust , together with any other income reasonably available ~ to them, in order to provide for their health, edu- ~ cation, maintenance and welfare, then the-Trustee ~ in its so?:: discretion may encroach upon the prin- cipal of such beneficiary's share of the trust or ' trusts for said purposes from time to time as it ~ may deem necessary or advisable. Any such deduc- tion need not be made good from later income, but ~ shall remain a general deduction from such person's share of the trust estate. ~Q MEII.L ORIFFIN JEFFRIEg i LIOYD E~~ ~:~0 PACE ~ CMARTE~7ED 1'=y` P O BOX 1270. FORT PIERCE, iLORIDA 33~50 - TEIEPHOME !305) ~64-8200 _ 1 i _ . . _ ..LL ~-.s«~ ~ ' ~ »x~ ; - ~ ~ v , J~ ,*~"z~':~`~~,~ ~,~~v .fir,~, ~7 . . : ~..~.....W-..~ ' ~ . - ~ __.~d... . .~.._._-t.