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HomeMy WebLinkAbout0980 - 3- . . F. $400,OQ0.00 to JENNIFER M. LOUD~N, should the Settlor die in the year 1986. G. $500,000.00 to JENIvIFER M. LOUDEN, should the Settlor die in the year 1987, and any year thereafter. FOURTH: All the rest, residue and remainder of the Settlor's estate, including that portion of his estate remaining after the satisfaction of any bequests m3de herein, whether real, personal or mixed and wheresoever situ- ated, or to which he shall in any way be entitled, or over which he shall have a power of testamentary disposition at the time of his death, he gives, de- vises and bequeaths to his Trustee, IN TRUST, to pay the income therefrom as hereinafter delineated to the Settlor's wife, BETTY M. LOUDEN. BETTY M. LOUDEN shall be deemed to have survived the Settlor, if she and the Settlor die under such circumstances that ~here is no sufricient evidence that they died otherwise than simultaneously. Unproductive property shall not bE held as an asset of the Trust for more than a reasonable time during the lifetime of the Settlor's said wife, c~ithout her written consent. Tne Settlor intends that this Trust shall qualify for the federal estate tax marital deduction. The Trust shall be designated "Trust A" and shall be held and disposed of as follows: A. Com~encing with the death of the Settlor, the Trustee shall pay the income from Trust A in convenient znstaZlcnents, at least monthly, to her during her lifetime. The Trustee may also pay to the Settlor's wife such sums from the principal as the Trustee deems necessary or advisable from time to time for her health and maintenance in reasonable comfort, considering the income from a21 saurces known to the Trustee. Furthermore, in addition to thQ above, the Settlor's wife, at her request and her discretion, may withdraw upon written request of the Trustee up to an addirional $50,000.00 out of the principal of said Trust, said power to be exercisable no more than once per year. The said $50,000.00 shall be tied to the Consumer Price Index, and, thereafter, the said $50,000.00 shall rise at the same percentage rate as the Consumer Price Index as promulgated by ~COTT & FOGT 'r*L~RNEYS AT LAW ~ y) ~j ( - ~ CQ_UAAp7 AVENUE 7 / 6 STiJART. FlOR1DA ` ~ 334fl4 ~ _ ' _ _ . , e ;~.::~'~-~az,~'~+we.'~53 '~-e.~