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YOUNG C. SMITH LIVING TRUST
SUMMARY OF ARTICLES
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1(A) YOUNG C. SMITH LIVING TRUST
ADDITIONS TO TRUST
~ 2(A) -(B) . Right to add insurance'policies and other property.
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, ~ RIGHTS -0~-SETTLOR ,
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= 3 (A) ' Right to revoke. .
- g 3(B) -(C) Right to approve and direct investments.
~ 3(D) -(E) Right to delegate investment powers.
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~ USE DURING SETTLOR'S L~IFETIME
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~ 4(A) =(C) Income to Settlor or as Settlor directs. Right in
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~ disinterested Trustee to apply income for Settlor.
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g` SETTLOR'S DEATH - GIFT TO SON
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~ 5(A) -(B) Distribution of real estate.
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; ~ SETTLOR'S DEATH - GIFT OF RESIDUE
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j ~ 6(A) Distribution of remaining portion of Trust Estate.
~ o SPENDTHRIFT PROVISION -
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~ 7(A) Trust assets protected from creditors.
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INSURANCE ~ ~
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~ 8(A) -(D) Settlor retains rights and obligations during life,
~ including obligation to pay any premiums.
~ 8(E) - (H) Trustees obligations.
ACCOUNTINGS
9(A) -(B) To be ~made to current beneficiaries.
DEFINITIONS -
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~ ].0 (A) - (B) Various technical definitions.
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POWERS AND DUTIES OF TRUSTEES
11(A) -(C) Maximiun powers, including right to distribute entire
principal of Trust. ~
TRUSTEES.
_ 12(A).- (L) Trustee to be Settlor during lifetime. Upon the
death, resignation or incapacity of the Settlor,
FRAN~ C. SMITH shall serve as sole Executor.
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600K ~.JJ PACt 1~~
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