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LAST WILL AND TESTAMENT OF' ELIZABETH W. TAYLOR - Page Five
benefit of such person, for the following uses and purposes:
to manage, invest and reinvest the same, to collect and
receive the income therefrom and, without court ordear, to
apply the net income and principal thereof to the extent the
trustee, in its sole and absolute discretion~ may deem
necessary br advisable for the care, maintenance, support,
education and general welfare of such person, without regard
to the duty of any individual to support such person and
without regard to any other funds which may be available for
the r~?rYcs°, ur.ti~ ~u~h person attains the age of twenty-one
(21).years, any unapplied income to be accumulated and to be
added to the principal of the trust at least annually. Any
net income or principal which the trustee may determine so to
apply may be directly applied by it~ or, in its discretion,
may be paid over, without bond, to either parent of such
~
" person or to the guardian of his or her person ar property or
to the individual with whom such person resides, without
obligation of the trustee to see to the proper application
thereof. The remaining principal of the trust, if any,
together w~th any accumulated income, shall be distributed,
freed and discharged of trust, to such person upon his or her
~
~ attaining th~ age of twenty-one (21) years, or, if such person
~ shall die before attaining the age of twenty-one (21) years,
~ the trust propert.y shall be distributed, freed and discharged
~
~ of trust, to the executors or administrators of the estate of
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such person.
~
ZN WITNESS WHEREOF, I have hereunto set my hand and
' seai, this 12th day of November, 1986.
' ( SEt~L )
LI BETH W IN TA LO
; ~flQK fi75 ~~E 203 - ~ r
NCI~L OIlIrFIN JC~/RlES i LL07D ~
CHAqTEF1E0
P. O. BGX i2~0, ~ORT PIEf7CE, ilOR10A 33a5~ - TEiEPNONE (3051 464-$200
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