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HomeMy WebLinkAbout1290 ~ ~ JOINT LIVING TRUST AGREEMENT to participate in the conduct of a~y business with respect to its nanaqement and affairs Which an individual could do as owner of ~ the business, includi~g but not limited to: ; i. voting stock and deter~ining questions of policy; ; 2. executing or a~ending partnership agreements; 3. taking part in incorporation, consolidation, merqer, ; recapitalization, reorqanization, liquidation, dissolution, or , any other change in the naturg of any business; 4. investing additional capital in, subscribing to, or purchasing additional stock or securities of, or making secured, + unsecured, or subordinated loans to a business using Trust funds; 5. electinq or employing directors, officers, agents, or others for a business, and compensating suct~ persons including trustees and directors, officera, or agents of trustees. If any business is continued by a Trustee, it shall be without liability to sy Personal Repreaentative for any loss to ~y estate or to the Trust, and continuance ~nay be without applica~ion to any court for authority to do so; O. Power to buy, sell and trade in securities of every kind and nature (includinq options, "short sales", "puts", "calls", or "straddles") and for such purpose a power to maintain and operate vargin accounts aith brokers and to horrow money from any brokers and to pledge any security held or purchased by Trustee with such brokers as security for loans or advances made to said Trustee by such brokers to the extent of the value of the Trust Property. P. THE SZGNATURE OF ANY ONE TRUSTEE OR CO-TRUSTEE SHALL BE DEEMED AS SUFFICIENT TO E%ERCISE ALL THE TRUSTEE POWERS CONTAINED IN THIS TRUST. ARTICLE IX: GBNSRAL PROVISIONS A. No interest under this Trust shall be tran~ferable or assiqnable by any Beneficiary, or be subject during Beneficiary's ~ lifetime to the claip~s of any Beneficiary's creditors. B. It is not the Grantors' intention that any Trust Property ~ be conserved to benefit beneficiaries. On the contrary, the pri- i ~ary purpose for the Trust is to provide for Income Beneficiar- ; ies. The interests of beneficiaries are ~ubordinate and incident- ~ al to that purpose. Grantors do not intend ~o encourage extrava- i gance or an aversion to work oR the part of any Beneficiary. Any r ~ Trustee may, When exercisinq discretion to distribute from income or principle for a Beneficiary's support, a~edical care, educa- tion, or genaral Welfare, take into consideration the standard ; of living to ahich such Beneficiary is accustomed at commencement ~ of this Trust and all incoae and resources of Beneficiary knoWn ~ to Trustee toqether with any other factors which may be deemed ~ ~ pertinent. ~ If The GranLors have both disappeared, or are kidnapped ~ ; and are not heard from, or cannot be communicated with, for 30 ~ days, the successor trustee is authorized to manage the assets i owned by this Trust as provided by this Trust. If both Grantors ~ have disappeared and it is totally unknown if they are still ~ alive, then after 90 days, the assets oWned by this Trust are to be distributed as provided by this Trust. ~ D. A certificate signed by any Trustee under this instrument and acknoWledqed by him before a Notary Public shall be deemed to be conclusive evidence upon all persons and for all purposes of the facts stated in such certificate respectinq the terms of this instrument and the identity of the Trustees who from time to time may be serving under it. E. Th1s instrument has been prepared and was executed in the State of FL02~DA Where Grantors are residents. All F questions concerning the meaninq and intention of terms of this a instrument or its validity, and all questions relating to any ~ perforaance under it, shall be resolved in accordance with laws ~ of this State. , ~ ~ r1 V , ~ ~j Page 5 of Seven Grantors' Init.~als L= • eocK~75 ~acEi2~ r : ~ ~ ~r-~