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HomeMy WebLinkAbout0845 , ~ . • • 1 1 Whenever any payment hereunder is required to ba_ made to a ~ . ~ minor, the interest so required to be paid shall be indefeasibly ~ vested in the minor, but the Trustees may retain the amount ~ ; payable until the~minor attaina his majorfty or dies, whichever ~ , ~ first occurs,, and the Trustees may pay the income and principal ~ ~ to the minor in such amount or amounts and from time to time € - ~ as the Trustees may determine; and if the minor lives to attain his majority, then when he attaina his majority the 1'rustees sha21 ~ ~ pay the then remaininq principal and undistributed income to him= . .and if the minor dies befor~ attafninq his majority, then on the minor's death the Trustees shall pay the then remaininq principal and undistributed income to the minor's estate. ~ (7) Whenever the Trustees be required to divide or distribute the principal of any trust fund, they are authorized, in their ~uncontrolled discretion, to- make ~division ar distribution ~ - wholly or ~artly-in kind by allottinq and transferrinq specific securities or other personal or real property or undivided interests therein as a part of the whole of any one or more shares or payments. The judgment of the Trustees as to values for such purposes shall ~ ~ ~ be bindinq and conclusive on everyone. ~ ~ - ' ~ ~ ~ (8) When required to make a distribution or transfer # ~ of all~or a part of the assets of t~e trust, the Trustees may retain therefrom assets sufficient in their judqment.to cover a liability~ t im sed u n it includinq, but not ~ w h i c h m a y t h e n o r l a t e r b e p o P c , limited to, their liability for income and other taxes, until such liability shall have been finally determined. ~ ~ VI. PAYMENT OF TAXES Except as hereinafter provided, no trust funds shall be used to pay an estate, inheritance or other death tax imposed upon ~ ~ . ~ ~ the estate of Donor, including interest and penalties thereon, nor ~ ~ - ~ for a debt, funeral bill or administration expenses of Donor. Rather. Trustees' sole use of funds in dealinq with thA executor of Donor•s ~ -6- - ~ UR ~ BooK3U3 P~~E 844 ~ _ . . t ~ ~ ' ? ~ ~ ~ x ~ - . - - ; = _ . z_ . _ ~ _