HomeMy WebLinkAbout0914 b'- ~ . ~ . w , j
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P. Where~rer authorized by this instrument to accu- ~
mulate or distribute in~ome, to make such decision free
from attack or questior? by any person, it being intended that
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the Trustees may ~eel free to make such decisions on the ~
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basis of the tacts as they exist at the time any such #
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decision is n~ade. t
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Q. Nith respect to any trust governed by this instru- a-
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ment, to distribute to any one or more of its beneficiaries ~
from the principal thereof such sums as in the sole dis- ?
cretion of the Trustees shall be sufficient to insure such I
trust being treated under the federal income tax law as
having no "undistributed net income' for a given taxable
year, as that term is defined in the Federal Internal
Revenue Code 5665, if the Trustees, in their sale discretion,
shall deem such treatment desirable for any reason.
R. Abandon, in any way, property which it determines
not to be worth protecting.
S. With regard to a11 policies of insurance on my
2ife which designate any Trustees hereunder as beneficiaries, ~i
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the Trustees are specifically authorized and empowered,
(a) to expcute and deliver receipts and
instruments and to take such action ~
as may be appropriate tc~ obta~n possession
and control of such golic~.es; ~
(b) to execute and file proofs of claim re- ~
quired to collect the proceeds thereof '
and the receipt of my Trustees shall
constitut~ full acquittance to insurance
companies for all proceeds so paid; pro- ~
vided, hawever, that my ~rustees shall be ~
under no obligation to institute legal i
proceedings for the collection of proceeds ~
of any policy until and unless they have '
been indemnified to their satisfaction
for all costs and expenses, including
attorney's fees;
(c) to elect, in their discretion, any optianal~
modes of settlement available to them under
' said policies. "
(d) to receive insurance pro~eeds ~~nd ,~o' ad-., ~
minister and distribute same as p~ineip~l
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PAGE :FC)URTEEN ~ .
eooK 555 FACE 9l2 _
I tl~SO ~ 8 ~ fi
BRADPORD, R'ILLIAMg. }~CKAY~ KIMSRELL. Hw~w.rx & JE~vt~toe, P. A.
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