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HomeMy WebLinkAbout0971 ~ ~ _ . ~ , • . ~ . . ' ' ~ C. Distribution U on Death of Trustor. The Yirst Trusto~ to die shal be ca~led the 'deceased spouGe' and the surviving Trustor shall be called the.'surviving spouse.' On the death of the aeceased spouse, ttie ~Trustee shall retain the entire trust estate, including any~additions made to the trust by reason of his death, such as ~from his Will, life insurance on his life or employee benefits, and such trust shall be held, administered and distributed as hereinafter provided. 1. Pa ment of Income to ~ur'ivin S ouse. From the time of deat of the deceased spouse, the Trustee shall pay to or apply for the benefit of the;surviving spouse the net income of the trust estate. ~ 2. Pa ment of Princi al to ~urvivin S ouse. If the Trustee consi ers suc ncome ~nsu ficient, t e Trustee shall also pay to or apply.for the benefit of the surviving spouse such sums out of the principal of the trust estate as the Trustee, in the Trustee's discretion, shall consider necessary for the surviving spouse's proper health, support, comfort, enjoyment, and weifare. 3. Withdrawal of Principal. In addition, the Trustee shall pay to the surviving spouse as much of the principal of the trust estate as the surviving spouse shall request in writing. 4. Payment to Others. The surviviny spouse may direct the Trustee in writing to pay single sums or periooic payments out of the trust estate to any other person or ` organization. ~ 5. Power of A ointment in Survivin S ouse. On the death of t e surviv ng spouse, t e Trustee s all diatrib- . ute any remaining balance of the trust estate, including ~ principal and accrued or undistributed income, to such one or more persons and entities, including the surviving spouse's own estate, and on such terms and conditions, either outright or i~ truat, and in such proportions as the surviving spouse shall appoin~ by a written instrument, other than a Will, filed with the Trustee, specifically referring to and exer- cising thie.powex of appofntment. This power of appointment shall be exercisable by the surviving spouse alone and in all events. • 6. Surviving Spouse's Expe~ses. On the death of the surviving spouse, and subject to any power of appointment exercised by the surviving spouse, the Trustee may in the -4- ~ # HiTfCHY. WRTQ. WOOD. AND~RSON A~ HODGES~ ~0 5 2 9 PA6~0 9 fi 6 w uw coRroa?now . r _ _ _ . _ _ . ~ _ . : - - , . . ~ ~ . . . . . _ . . TfY ~ . . . ~ . . ~ . . . . . . . . .