Directions For Confidential And Sealed Financial Supply Types
Provided there are sufficient funds obtainable, the Trustees are further authorized to distribute to a beneficiary who’s a baby or grandchild of the Grantor a portion of the principal of the trust for the purpose of creating that beneficiary in a business or career, supplied that beneficiary has attained the age of twenty-one years. Any such distribution shall be requested by the beneficiary in writing, and shall be accompanied by factual information essential to allow the Trustees to evaluate the feasibility of such funding. If the Trustees shall decide the proposed investment to be a possible one, the Trustees shall distribute such portions of the principal of the trust because the Trustees, in their sole discretion, deem desirable, but any such sum advanced to a beneficiary shall be a charge against that beneficiary’s trust estate. The Trustees shall not make any such development unless or till they are satisfied that the advancement might be used for that objective only. Any such sum superior to a beneficiary shall be a charge towards that beneficiary’s trust property. A. The Trustees shall distribute, at least yearly, in equal shares among the beneficiaries of the trust all or any a part of the net earnings of the trust for the comfort, support, training, maintenance, well being and welfare of the beneficiaries.
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None of the provisions of this Article XVI shall apply to any company Trustees. G. If at any time, in following the directions of this Trust Agreement, the Trustees is required to distribute all or any part of the principal of the trust herein created outright to a person who is then a minor, the Trustees shall be approved and directed to proceed to hold the share of such minor in belief for that minor’s profit until he or she attains age twenty-one . Until such time the Trustees is authorized and directed to expend such a part of the earnings and/or principal of the share belonging to such minor because the Trustees in his sole discretion deems essential to offer for the correct support, maintenance and training of said minor. E. In the event of the death of any baby of the Grantor prior to the receipt by such youngster of his or her entire belief property, then the steadiness remaining within the trust of mentioned deceased youngster shall be retained in belief for the benefit of said deceased youngster’s then residing youngsters. One-half (1/2) of the belief estate for the surviving children of the Grantor’s deceased baby shall be distributed in equal shares to such surviving youngsters when the youngest attains the age of twenty-5 . Thereafter, when the youngest living baby of a deceased youngster of the Grantor attains age thirty , the Trustees shall distribute the remainder of the belief for the surviving children to and among said living kids in equal shares, and their belief shall then terminate.