be spent from this trust under this paragraph for the benefit of any child of the grantor without the consent of at least one other child of the grantor. E. Upon the later death of the Grantor’s wife, the Trustee shall distribute any remaining trust principal in accordance with ARTICLE VII. ARTICLE VII Upon the death of the second to die of the Grantor and his Wife Upon the of the second to die of the Grantor and his wife, the remaining trust assets (including those assets in the marital and credit shelter trusts administered under ARTICLE V and ARTICLE VI, respectively) shall be divided as follows: A. ONE THIRD (1/3) shall be distributed to the Grantor’s son, JOHN WALTERS, if he is living, or, if he is not living, to his issue, in equal shares, per stirpes. B. ONE THIRD (1/3) shall be held in a trust for the benefit of the Grantor’s son, MICHAEL WALTERS in accordance with the terms and conditions set forth hereinafter in ARTICLE VIII. If MICHAEL WALTERS is not living, then this share shall be distributed to his issue, in equal shares, per stirpes. C. ONE THIRD (1/3) shall be held in a trust for the benefit of the Grantor’s daughter, MICHELLE WALTERS SMITH in accordance with the terms and conditions set forth hereinafter in ARTICLE IX. If MICHELLE WALTERS SMITH is not living, then this share shall be distributed to her issue, in equal shares, per stirpes or if she has no issue then among the other beneficiaries under this Paragraph. ARTICLE VIII Trust for the Benefit of MICHAEL WALTERS A trust for the benefit of MICHAEL WALTERS created under Paragraph B of ARTICLE VII shall be held, administered and distributed as follows. A. During the lifetime of MICHAEL WALTERS, the trustee distribute to MICHAEL WALTERS, in quarterly or more frequent installments, all of the next income of the trust. B. In addition, the trustee may, in his or her sole discretion, distribute to MICHAEL WALTERS as much of the trust principal as he deems appropriate for the health, education, maintenance and support of MICHAEL WALTERS. The trustee may, but need not, take into account other resources available to MICHAEL WALTERS when making this determination. C. Upon the death of MICHAEL WALTERS, the trust assets shall be distributed to whomever among the issue of the Grantor that MICHAEL WALTERS shall appoint said assets by a Will that specifically references this limited power of appointment. In
be spent from this trust under this paragraph for the benefit of any child of the grantor without the consent of at least one other child of the grantor. E. Upon the later death of the Grantor’s wife, the Trustee shall distribute any remaining trust principal in accordance with ARTICLE VII. ARTICLE VII Upon the death of the second to die of the Grantor and his Wife Upon the of the second to die of the Grantor and his wife, the remaining trust assets (including those assets in the marital and credit shelter trusts administered under ARTICLE V and ARTICLE VI, respectively) shall be divided as follows: A. ONE THIRD (1/3) shall be distributed to the Grantor’s son, JOHN WALTERS, if he is living, or, if he is not living, to his issue, in equal shares, per stirpes. B. ONE THIRD (1/3) shall be held in a trust for the benefit of the Grantor’s son, MICHAEL WALTERS in accordance with the terms and conditions set forth hereinafter in ARTICLE VIII. If MICHAEL WALTERS is not living, then this share shall be distributed to his issue, in equal shares, per stirpes. C. ONE THIRD (1/3) shall be held in a trust for the benefit of the Grantor’s daughter, MICHELLE WALTERS SMITH in accordance with the terms and conditions set forth hereinafter in ARTICLE IX. If MICHELLE WALTERS SMITH is not living, then this share shall be distributed to her issue, in equal shares, per stirpes or if she has no issue then among the other beneficiaries under this Paragraph. ARTICLE VIII Trust for the Benefit of MICHAEL WALTERS A trust for the benefit of MICHAEL WALTERS created under Paragraph B of ARTICLE VII shall be held, administered and distributed as follows. A. During the lifetime of MICHAEL WALTERS, the trustee distribute to MICHAEL WALTERS, in quarterly or more frequent installments, all of the next income of the trust. B. In addition, the trustee may, in his or her sole discretion, distribute to MICHAEL WALTERS as much of the trust principal as he deems appropriate for the health, education, maintenance and support of MICHAEL WALTERS. The trustee may, but need not, take into account other resources available to MICHAEL WALTERS when making this determination. C. Upon the death of MICHAEL WALTERS, the trust assets shall be distributed to whomever among the issue of the Grantor that MICHAEL WALTERS shall appoint said assets by a Will that specifically references this limited power of appointment. In
SampleTrusts.docx