HomeMy WebLinkAbout0973 . :7
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of a trust is under age twenty-one (21) years, the Trustee
shall hold and adminisker the be~eficiary's portion of the
trust estate for his benefit. Income of the beneficiQiy's
portion shall be added to principal and the Trustee shall
pay to or apply for his benefit as much of his trust as the
Trustee in the Trustee•s~discretio~ cansiders necessary for
. his proper health, education and suppdrt. Hhen the
beneficiary attains the age of twenty-one (21) years, or
upon his earlier death, the Trustee shall distribute to the
beneficiary or to his estate his entire share of the trust
estate.
! F. Distribution of Remainder. If at any time before
full distribution of the trust estate both Trustors and all
; of the Trustors' issue are deceased and no ather disposition
t of the property is directed by this instrument, the remai~ing
~ portion of the trust shall•then be distributed one-half (1/2)
~ to the legal heirs of Husband and or?e-half (1/2) to the legal
heirs of Wife, the identity and respective shares of those
heirs to be determined in all respects as though the death
of Husband or Wife, as the case may be, had occurred
immediately folloWing the event requiring distribution, and
sha11 be determined according to the laws of succession of
the State of California then in force relating to separate
property not acquired from a parent, grandparent, or
previously deceased spouse.
G. Premature Termination of Trust. After the death of
the survivi~g Trustor, the Trustee may conclude, in the
Trustee's discretion, that the trust estate is uneconomi-
cal to administer. The Trustee may then, (l~ distribute the
trust estate to the beneficiaries in proportion to their
i~terests in income= (2) purchase and deli~ver to the income
beneficiaries a restrictive savings account, certificate of _
deposit, an~uity, or endowment; (3} dfstribute the trust '
estate to a custodian for the beneficiarie~ under the
California Uniform Transfers to Minors Act; or t4) distribute
the trust estate as provided by law. On such distribution
and delivery, the trust shall terminate. 2'he Trustee shall
not be liable or responaible to any person for its action
nor for i~a failure or refusal at any time to terminate the
trust as suthorized by this paragraph.
H. Monthl Income Distribution. With respect to all
trusts create ereun er, uring Trustors' lifetimes and
after their deaths, to the extent that income is distribut-
able, net income shall be distributec~ in monthly or other
~ convenient installments but at least annually to or for the
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~~j HINCHY. MRTTi. WOOD. ANDlRSON at HODRiEf
~K0529 PA~0968
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