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HomeMy WebLinkAbout1041 '7 9. 8 _ 11. That if the Executor or Trustee shall be compelled at any tiune during the existence of the trust herein or thereafter to ' pay any tax or penalty with respect thereto for any reason, the ~ t Executor or Trustee shall be entitled to be reimbursed from the ! , - ~ estate; or, if the trust estate be then insufficient or if it be t then ~erminated, the Executor or Trustee shall be re imbursed by ~ ! ~the person to whom the trust estate shall have been distributed to • the extent.of the amount received by each distributee. The Execu- tor or Trustee before making any distribution of either income or ~ principal may accordingly require a refunding agreement or may withhold distribution pending determination or re~ase of any tax lien. 12. That all payments of income or principal shall be made the respective beneficiaries in~person, upon their personal re- ceipts or may at their direction be deposited in any bank to the credit of such beneficiary in any account carried in his or her name or jointly with another or others. No such payments shall b grantable, transferable or otherwise assignable in anticipation o payment thereof in whole or in part by the voluntary or involunta acts of any such beneficiaries or by operation of law and shall n be subject to any obligation or such beneficiaries. Payments to ` an incompetent beneficiary may be made in such of the following i ~ ways as in the Executorts or.l~usteets opinion will be mose desir . : - ~ ab].e: (a) directly to such beneficiary; (b) to his or her legal r p- ~ ~ resentative; (c) to some near relative or friend; or (d) by the ~ Executor or Trustee using such payment directly for the benefit o ~ such benef iciary. , ~ 13. That a person shall be deemed "incompetent" if a minor, ~ if under legal disability or if incapacitated so as to make it itn ~ ~ possible or impracticable to give prompt end intelligent consider ~ ation to business matters. The Executor or Trustee may act upon - such evidence as it shall deem appropriate and reliable without ~ ~ liability by reason thereof. k x ~ ~ 14. That any Trustee or Executor may resign by giving ten ~ ~ CHARLES E. BECHT days written notice to each adult beneficiary receiving or ~ntitle ~ :1TTORNEY AT lAW k ~ sT. ~uci~ couNTr > ~ BANK BLDO. ~~Ml~~`- ~ { , , -rt- ~ 1~~. ~oRT PIERG[. FLORIDA ~ Page 11 of 14 Page Will L R e ~ 5~~r~ PAGf~O~~ . ~ . w _ 's j.._;^ ~ - - ~ 'Fr ~^2YrJ~ ~4y~..5 ~3*k ,~"'u' . . -wj,~ i.?3e;'~3 'S = '~F . . . _ ~t. ..n ~ ~~~~r :j.~.- . ~i . .e~ _ . . .~c+,~ . _.a.