HomeMy WebLinkAbout0926 . ~ ~ . • .
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added to the v,aiue of all property which paeses to my said wife
i~der Artic~. ~I o.f this will and of all property which, other- .
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,~~,ae than by,,4t~`ie terms of this wi~ll, has passed or pasees on my
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death; to u~y';wife, and which is included in my gross estate and
qualifies~for the maritai deduction for federal estate tax
purposes, shali equal Fifty Per Cent (508) in value of my adjusted
~ qross estate as defined in the_Internal Revenue Code and as
~ finally detenained for federal estate tax purposes. If the
~ total value of the property which passes to my wife under Article
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~ II of this will and of all the property which, otherwise than by
~ the. tenas of this will has passed or passes on my death ~to my
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wife, and which is included in my gross estate is more than
Fifty Per Cent (50$) in value of my said adjusted qross estate,
~ , my said wife is to receive no property uader the provisionss of
; this Article III. It is my inteation by this p~°ovision that my
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' said wife shall receive at least the maximum araount in value
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i allowable as a marital deduction under the Internal Revenue Code i
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~ reduced by the total of all amounts allowable as a marital
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~ ~deduction for federal estate tax purposes in respect of any
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~ interests in property which shall pass or shall have passed frora
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a ~ me to my wife otherwise than under the provisions of this Article
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it III, and to the extent my said wife has received at least the
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! maximum am~ount in value allowable as a marital deduction fraaa
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} ~ property passing to her on my death otherwiae than under this ,
~ ,~Article III, she is tv receive no property under this Article
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This legacy may be satisfied by distribution ia cash oz in
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kind, or partly in cash and partly in kind from the assets other '
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,~,t than those specifical3y bequeathed to my said wife under Article
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II hereof. Each item of property or in~e~est in property so
distributed in kind shall be valued at the date or dates of such
~ distribution or at the value determined therefor in ~he United
` States estate tax proceedinqs in my estate, whichever value
` shall be lower. The decision of my personal regresentative as
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~ to which of the aforesaid assets shall be distributed in satis-
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