Download as pdf or txt
Download as pdf or txt
You are on page 1of 1

individual's

share shall lapse and shall be distributed with the remainder of the trust estate as if it

had been an original part thereof. If this property has been sold or otherwise disposed of prior to the death of the settlor, this gift shall lapse. Notwithstanding the foregoing, it is the settlor's intent that FELIX receive the portion of

this property on which the two houses are built and that RAYMOND receive the portion that the settlor refers to, and is commonly known amo~g the members of the settlor's family, as "the Ranch." Although current ownership of this property is evidenced by a single grant deed, the settlor intends to subdivide this-property prior to his death. However, should the settlor die prior to subdividing theproperty, the trustee shall complete the subdivision of the property so that it

may be 'distributed in accordance with the above-stated intent of the settlor. If subdivision of the property in ..accordance with the settlor's intent-as expressed herein, is not legally possible or permissible, the property shall be distributed as provided in the first paragraph of this Section 5.7. 5.8. Payment of Death Taxes, Debts, and Expenses on Statement From P.ersonal Representative. After the settlor's death, on receiptby the trustee of a written statement from the

personal representative of the settlor's estate requesting-that the trustee pay death taxes, debts, and expenses (as defined in Article Eight), with respect to any property in the settlor's estate, the
. .

trustee shall pay, either directly or to the personal representative, any amounts requested by the personal representative for those purposes, in the manner specified below. The trustee may rely on the personal representative's statement and shall not be liable for any act or omission by the personal representative in protesting or failing to protest the legality, propriety, or amount of the death taxes, debts, or expenses. If there is no personal representative, the trustee shall make the

payments directly. Payments of debts and expenses shall be made by the trustee from-the trust

12

You might also like