HomeMy WebLinkAbout0916 • -
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~not allowed as deductions in computing the Grantor's Federal
~ ,~Estate Tax, and t3) amounts passing under the Grantor's Will to
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~ the G=antor's surviving spouse together with property passing to
~~Grantor's surviving spouse which does not qualify for the marital
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I~deduction.
1~ (c) Satisfaction of Amount Contained.in Paragraph
FOURTH (b) .
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±I The amount described in Paragra~h FOURTH (b) shall be
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payable in cash or in kind, or both of them to be selected in the
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~ sole and uncontrolled discretion of the Trustee, but shall
~~include all interests in property (or some proceeds thereof)
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~~which would not qualify for the marital deduction if the property
;;passed outright to the Grantor's spouse because the property is a
.~~nondeductible terminable interest, and shall have a value on the
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;~date or dates of distribution equal to the amount determined in
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~ ; Paragraph FOURTH (b) .
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(d) Amount Transferred to MARITAL TRUST.
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i If the Grantor's spouse survives the Grantor, the
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;;balance of the trust estate after the satisfaction of the amounts
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';described in Paragraph FOURTH (a) and (b) shall be transferred to
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~;a separate trust known as the MARITAL TRUST and held,
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~!administered and disposed of in accordance with the provisions of
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jfParagraph FIFTH of this Agreement, provided, if the Grantor's
~jtaxable Estate as finally determined for Federal Estate Tax ;
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~purposes is less than the highest taxable Estate described in
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~ Paragraph FOURTH (b), Paragraph FOURTH (b) shall not apply and
j~ the balance of the Trust Estate shall be allocated to the
1~ RESIDUARY TRUST and held, administered and disposed of in accor-
dance with the provisions of Paragraph SIXTH of this Agreement.
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