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LAST WILL AND TESTAMENT
.I. WALTElR BRUCEl FI'rZGERALD. of the I!'own of Manlius.
County of Onondaga and State of New York, being of sound mind
and memory. do hereby make, publish and deolare this to be my
Last Will and Testament, hereby revoking all former wills by me
madel
FIRSTI I direct that fuY Executor pay all esta~e, inheri-
tance and similar taxes imposed by the United states of America, or
any State or subdivision thereof (and authoriie it in its disoretion
to pay any such taxea imposed by any foreign jurisdiction) with
respeot to my estate herein disposed of, or any part thereof, or
any bequest or devise contained in this my Will (which term wherever
used herein shall include any codicil hereto), and that
all suoh taxes so paid by my Executor to be paid as administration
expenses out of my residuary estate.
SECOND I I bequeath all my personal and household effects and
all automobiles which I may own at the time of my death to my wife.
NANCY BELLE FITZGERALD, or if she shall not survive me, to such
of my children as shall survive me, in equal shares. to be deter-
mined by my Executor in its discretion.
THIRDI If my wife, NANCY BEl/LE FITZGERALD, shall survive me,
I give and bequeath to my Trusteea a legacy in an amount equal to
.the maximum marital deduction allowable in determining the United
States estate tax payable by reason of my death, diminished by
the value of all other property and interests in property whioh
shall be included in my gross estate for United States estate tax
purposes and which qualify for ~aid marital deduotion and Which
pass or have passed from me to my wife, either under any other
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provisions of this Will or in any other manner outside of this
Will. The words "pass" and "have passed" wherever used in this
Artiole shall have the meaning as said words shall have under
the provisions of the United States Internal Revenue Code
applioable to my estate.
(a) My Trustees shall hold this legaoy as a
separate trust for the benefit of my wife and shall pay over to
or apply for the beneH t of my wi fa all the inoome therefrom
reoeived from and after the date of my dei\th to her in quarterly
or more frequent installments so long as she shall live.
(b) My Exeoutors or Trustees shall approximate
the amount of income from suoh trust and pay the same to my wife
during the administration of my estate, applying any such payments
against the income to which she shall be entit.led or making such
other C\djustments as may be neCeSSa1"y when tho exact amount of the
prinoipal of the trust is determined.
(c) Upon the death of my wife, my 'l'rustess shall
transfer. oonvsy and pay over and I hereby give, devise! and bequeath
the principal of the trust created by this Artiole to suoh person
or persons. inoluding, without limitation, the Exeoutors and
Administrators of the estate of my wife, as she may by a specific
reference thereto in her Last Will and Testament appoint, it being
my intention that my wife shall have the right to exercise the
power of appointment alone and in all events.
(d) If my wife shall fail to effectively exercise
suoh power of appointment, then my Trustees shall pay over any
remaining principal to the trusteo of my residuary truflt adding
property to the prinoipal of my residuary trust and such property
shall thereafter follow tho disposition of my residuary trust in
all respects as to both pd.noipal and inoome.
(e) To payor apply to or for the benefit of my
said wife from the principal of this trust such amount or amounts
as my Trustees hereinaftor named shall from ti.me to time determine
in their absolute and uncontrolled discretion wi thout regard to her
inoome from other sources.
(f) It i.s my intention to obtain the maximum
marital deduction allowable to my estate under the provisions of
Section 2056 of the U. S. Internal Revenue Code, and all of the
provisions of this my Nill and any Codicil to it shall be construed
and applied so as to give full affect to my said intention. If the
effect of any provision or provisions of this Will or of any oodicil
to it would be to prevent the allowance of said marital deduction
with respect to this marital trust. then I direot that ouoh offe~ding
provision or proviaions shall not apply to this marital trust, and
that so far as such trust and its adminiHtration are conoerned, this
Will and any Codioil to it shall be read and take effect as if
such offending provision or provisions did not exist.
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FOURTH I All the rest, residue and remainder of my estate of
whatsoever kind.and nature and wheresoever situate, of whioh I
may die seized or possessed or to whiuh I may be enti tled to at the
time of my death, inoluding any property over which I may have the
power of disposition by appointmont or otherwise, or in the event
that my wife shall predecease me, then all of such estate, :t give,
devise and bequeath to my trustees, hereinafter named, and their
suocessors. IN TRUST, to hold, manage, invest and reinvest the
same in the manner hereinafter provided, and to receive the rents,
issues. dividends, income and profits therefrom. and after deducting
the necessary and proper expenses of administration, to pay and
distribute the net income and principal as followsl
(a) To pay and apply the net income to the use of
such person or persons, belonging to a class composed of my said wife
and of my descendants living from time to time during the life
of my said wifs, as my said trustee shall from time to time in its
absolute discretion select to receive the same or any part thereof,
or in default of such selection then entirely unto the use of my
said wifs, with the fallowing restriction:
I hereby direot my trustee, hereinafter named,
to acoumulate and deposit all of the shares of the common stock of
Vehicle Safety Products, Inc. owned by me at the time of my death
in this trust account. and not in the trust acoount heretofore
described in paragraph "THIRD". and my trustees arG directed to pay
out of the principal of this trust no more than ten peroent of same
per year should the value of the corpus of this trust be less than
$150,000.00 but more than $100,000.00. In the event the value of
the corpus of this trust is more than $150,000.00, then and in that
event I direct my trustees to pay only the income from this trust
and not to invade the prinoipal amount. In the event the corpus
of this trust shall exceed $500,000.00, my trustee is directed to
distribute the principal of this trust to my surviving ohildren in
aocordance with paragraph numbered "FOURTH" (b), 3", notwithstanding
the faot that my wife is Hv.1.ng at the time of the distribution.
In the ovent the common stook of Vehiole Safety
Products, Ino. now owned by me is not purohased from my a~tate through
any Buy-Sell Agreement exeouted by Vehicle Safoty Produots. Ino.,
Delton R. Dunkling, and Walter B. Fitzgerald, then it is my intention
that my trustees deposit in this residual trust suffioient of my assets
to provide my ostato with the maximum marital deduction allowed.
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(c) Qpon my wife's death. or upon my death, if.she
should.predecease me, my trustee shall divide the then remaining
principal of this trust into as many equal shares as there shall be
children of mino then living, plus chi.ldren of mine then deceilsed
(leaving issue then living). and
1. My Trustees shall pay over and distribute
each share represented by any (such) child of mine who shall then
be deceased, per stirpes, to suoh child's then living issue
(or in the default of suoh issue, per stirpes, to my then living
issue, except that the portion payable to any child of mine shall
be added to the principal of the trust herein provided for suoh
child) .
2. My Trustees shall hold in trust each share
represented by any then living child of mine and shall pay the net
inoome therefrom to such child, for his or her life. During such
time my Trustees may also expend such sume from the principal of
said share as my Trustees deem proper for such child's care, oomfort,
support and education including higher education. If such child
should wish to purchase a home, invest in a businoss, or engage in
the practioe of a profession, my Trustees may also pay to him or
her such sums from the principal of said share as my Trustees deem
proper for any or all of these purposes.
3. After attainment of the age of twenty-five
(25) years by any child of mine who may be receiving income under
pat"agraph 2 above, my 'rrustees shall also pay to such child such
part of the principal of the share represented by him or her as
he or she may from time to time, and at any time, request in
writing, provided, however, that upon attaining age twenty-five
(25) years, such ohild may make one or more withdrawals not
exceeding the aggregate (one-third) of tho then mnrket value of the
fund. exclusive of any amount already subject to withdrawal, on
the date upon which the first request is made after attaining
age twenty-five (25) years, and after attaining the age of thirty (30)
years, suoh child may make one or more withdrawals not exoeeding in
the aggregate (one-half) of tho then market value of the fund,
exolusive of any amount already subjeot to withdrawal, on the date
upon which the first request is made after attaining age thirty (30)
years, after attaining age thirty-five (35) years, he or she may
make withdrawals of any part or all of such fund.
4. Upon the death of each child of mine who may
be recei vin", income under paragraph 2 above, my 'rrusteos shall pay
over and distribute tho then romaini.ng principal of the share rep.
resented by such child, per stirpes, to such child's then living
issue, except that the portion payablo to any ohild of mine then
reoeiving the income from any trust under this Will shall be added
to the prinoipal of such trust.
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FIFTHl If pursuant to this Will all or any part of my est.ate
shall vest in 'absolute ownership in a minor or minors or if at the
termination of any trust oreated by this Will all of or any part of
the prinoipal of such trust shall vest in absolute ownership in a
minor or minors. I authorize and empower my exeoutors or trustees,
as the oase may be, in their disoretion, to hold the property so
vested in suoh minor. or any part thereof, in a separate fund for
the benefit of such minor, notwithstanding that such property may
consist of investments not authorized by law for trust funds, and
to invest and reinvest the same, oollect the inoome therefrom and,
during the minority of such minor. to apply so much or all of the
prinoipal thereof and so much or all of the net income therefrom
and any accumulated income to the support, education and maintenanoe
of such minor. as my executors or trustees shall see fit, and to
accumulate. invest and reinvest the balance of said income until
suoh minor shall attain the age of twenty-one (21) years, and there-
upon to pay over the then principal, together with any aocumulated
income, to such minor. and if such minor shall die before attaining
the age of twenty-one (21) years. then upon the death of such minor.
the then prinoipal together with any accumulated income shall be paid
over to the estate of suoh minor. The authority conferred upon my
exeoutors and trustees by this paragraph shall be oonstrued only as
a power in trust. and shall not operate to suspend the absolute
ownership of such property by suoh minor or to prevent the absolute
vesting thereof in such minor. With respeot to any such property whioh
shall vest in absolute ownership in a minor or minors. but whioh
shall be held by my executors or trustees as authorized in this
paragraph, my executors or truatees shall have all the powers con-
ferred by the other provisions of thiu Will inoluding, without limi-
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tation, the power to retain, invest and reinvest without being
limited to investments authorized by law for trust fundsl and
they shaH be entitled to commissions at the rates and in the
manner payable teJ. testamentary trustees.
SIXTH, I hereby give and grant to my Executcr and Trustee
and the successor or successors of them the power and authority
which may be oxercised by him in either or both capacities at any
time and from timo to time, as he shall, in his absolute discretion
deem advisable I
(a) To hold and retain all or any part of my estate
or any trust created hereby in the form in which the same may be
at the time of my decease, or at the time of the receipt thereof
by my Trustee from my Executor, as long as they may deem advisable.
(b) To invest and reinvest in any securities, stocks,
bonds or other property, real or personal, of whatsoever natur6,
including without limitation, by reason or specification, units
of a common trust fund, whether or not such property constitutes
a lawful investment for trust funds under the laws of the State of
New York.
(c) To lease, sell, exchange, mortgage, partition
or otherwise dispose of any property, real or personal, of which
I may die seized or possessed, or which may at any time form part
of my estate or any trust created hereby, at such times and upon
such terms and condi tions as they shall deem advisable, and to
make, execute and deliver good and sufficient deeds, )Aases, mortgages
and other instruments executing the same. Any lease made by my
Executor or Trustee may extend beyond the period fixed by the statute
governing leases made by fiduciaries and beyond the term of any trust
created hereby.
(d) To borrow money for any purpose in connection with
the administration of my estate or any trust created hereby I to execute
promissory notes or other obligations for amounts so borrowed and to
secure the payment of any amounts so borrowed by mortgage or pledge
of any real or personal property of which I may die seized or possessed,
or which may at any time form part of my estato or any trust created
hereby.
(e) Whenever required or permitted to divide or distribute
my estate or any trust created her"lby, to make such division or
distribution in kind or in money, or in part kind and in part money.
Any assets distributed in kind shall be valued at their fair market
value as at the date of such distribution.
(f) '1'0 exercise all power and authority, including any
discretion conferred in this Will, with respect to all accumulations
of income under this Will and with respeot to all property held under
a power in trust in this will.
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(9) To exeroise all power and authority, inoluding
any disoretion conferred in this WJ.ll, after the termination of any
trust created hereby and until the same is fully distributed.
. (h) To exercise any opt.ion or election available
pursuant to any income, estate or gift tax provisions of any tax
law of the United states, or any state thereof, or any other taxing
authority, applicable to me or my estate, and to make Buch adjust-
ments, if any, between or among any interest or interests in my estate
as my Executor, in t.he exercise of absolute discretion may deem
advlaable.
. (i) To receive insurance prooeeds and to administer
and distribute same as principal in accordance with the dispositive
provisions of this paragraph.
SEVENTH I In the event that my wife and I shall both die under
suoh ciroumstances that the order of our deaths cannot be established
by proof, then 'I direct that for the purposes of this Will, my
wife shall be deemed to have survived me.
EIGHTHI I hereby nominate, constitute and appoint my wife,
NANCY BELLE FITZGERALD, to be the Executrix of this my Last Will
and Testament. In the event my wife shall predeoease me, or sur-
viving me, shall be unable or unwilling for any reason to qualify
to aot, or to continue to act as such Executrix, then in anyone of
those events only, I hereby nominate, constitute and appoint
MARINE MIDLAND BANK-CENTRAL, to be the Alternate Exeoutor of this
my Will. I hereby direct that neither my wife, NANCY BELLE FITZGERALD,
nor MARINE MIDLAND ~NK-CENTRAL, shall be required to furnish any
bond or other security in any jurisdiction fo~ the faithful performance
of their duties as such. In the event my wife, NANCY BELLE FITZGERALD,
shall predecease me or we both die as a result of a oommon disaster,
then I hereby nominate, constitute and appoint GEORGE RENAUD of
Ashdon Avenue, Detroit, Michigan as Testamentary Guardian of such
of our children as are minors at the time of my death.
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C()MM()NWJ~AL'I'H 01" 1'1':NNRYLV ANIA
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COUNTY Ole ctJ,~B1mLANn
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OATH OF SUBSCRIBING WITNESS
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bufhl'o mo Hlchl1l'd I~, Andol'slin.\ Reglstel' 1'01' tho Probuto ofWIIIH und gl'unt(MftoU,6I's of AdmtnhMuLlon
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and LUHt W111, and at tho tlmo 01',6 doing ......"",......",.."....,................,..,WIlS of' sound nnd disposing mind
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AFFIDAVIT OF DEATH
COMMONWEALTH.OF PENNSYLVANIA f
COUN'rY OF CUMBERLAND
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COMMONWEALTH Of PENNSYLVANIA I
COUNTY OF CUMBERLAND J
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......N.lINei:' U.,_Fl'l'IlGERALD__ .o. ..... ....._._.___~_..._..___..m.... ."~n
bolng duly ._.......s.\j9~n. n ,,_ according 10 law, dopo1Gl and laYI Ihat S ho _J..s__tha_.........,~__.._....,,~__
.1'€ll:'!lqn~1R.ept:~Be!1t~1;"i,ve_. . oflho Ellala of ........w.ilm:J!.......Y-.1Ug~li.__.-_o
1.10 of 373 Sample Bridge Road, mnola,..-., .m,..' Cumborland Counly,Pa" dooeuod and Ihat tho
within II en Invenlory mado by ._NancyBh.F.ltZ1j/er.ald __ ---....-, the I4ld..Jlx.e.o..ut.ri2L.__
of Iho ontlro ..Ialo of I4ld decodonl, oonlllllng of .11 Iho pononal prop'erly and ruel 011410, o~oopl rul oltalo cuhldo
tho Commonwulth of Penolylvanla, and Ihal Iho flgurel oppo.lte uoh Itom of tho Invonlory repro lent It'l hlr voluo
4. of Ihn dMo of deoodont'l doalh,
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........ Enola.,....Eennay.l.1lanJ.IL..l.7.Q.2.5...-___..
, Add,."
Dete of Duth ______.___.[EWje~ml;>.~!;_.~ ~.I".Jll.7L..._._..,.._._....___..
D.y. M.nth
.l___
v..,
INSTRUCTIONS
I, An Inventory mutt be fllod wllhln Ihru month. aftor appolntmenl of po..onal ropre..ntatlve,
2. A lupplemont Invontory mUlt bo fllod within thlrly day. of dlloovory of additional alloh,
3, Additional .hooh may bo athchod 4. 10 porlonally or roally
4, Soa Artlole IV, Flduolarlel Aot of 1949,
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~._.\1n~!!_J\ND ...:!'gS'l'^.J~)m'l'
I, WALTER BRUCE FI'l'ZGERAJ,D, of the 'rown of ManU us,
county of Onondaga and state of Now York, being of sound mind
and memory, do hereby make, publi sh and declare this to be my
Last Will and Testament, horeby revoking all former wills by me
madel
FIRSTI I direct that my Executor pay all astate, inheri-
tance and simi lar taxes imposed by the Uni tad states of Americ'a, or
any state or subdivision thereof (und authorize it in its discretion
to pay any s\1Oh taxes imposed by any foroign jurisdiction) with
respect to my estate herein disposed of, or any part thereof, or
any bequost or devise contained in this my will (which term whereVer
used herein shall include any codicil hereto), and that
all such taxes so paid by my Executor to be paid as administration
expenses out of my residuary estate.
SECOND I I bequeath all my personal and household effects and
all automobiles which I may own at the time of my death to my wife,
NANCY BELLE F'ITZGERALD, or if she shall not survive me, to such
of my children as shall survivo me, in equal shares, to be deter-
mined by my Executor in its discretion.
TIURDI If my wife, NANCY BELLE FITZGERI\LD, shall survive me,
I give and bequeath to my Trustees a legacy in an amount equal to
the maximum marital deduction allowable in determining the united
States estate tax payable by I'eason of my death, diminished by
the value of all other property and interests in property which
shall be includod in my gross estate for United states .state tax
.
pUrposos and which qualify for said marital deduction and which
pass or have passed from me. to my wife, either under any otheI'
'.'
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provisions'of this Will or in any other manner outside of this
,
Will. The words "pass" and "have paased" wherever used in this
Article shall have the moaning as said words shall have under
the provisions of the United States Intornal Rovenue Code
applicable to my estate.
(a) My 7'rustoes shall hold this legacy as a
separat.e trust for the benefit of my wife and sl1<\ll pay ovor to
or apply for tho benefit of my wife all the income therefrom
received from and after the date of my death to her in quarterly
or more frequent installments so long as sho shall live.
(b) My Executor.!1 or Trustoes shall approximate
the amount of income from such trust and pay the same to my wife
during the admi.nistration of my ostato, applying any suoh payments
against the income ~o which she shall be ontitled or making suoh
other adjustmonts as may be necessary whon tho exact amount of the
prInoipal of the trust is determined.
(c) Upon the doath of my wife, my 'frustees shall
transfer, convey and pay over and I hereby g:l.ve, devise and bequeath
the principal of the trust created by this Article to such person
or persons, including, without limitation, the Executors and
Administrators of the estate of my wife, as she may by a specific
reference thereto in her Last Will and Testament appoint, it being
my intention that my wife shall have the right to exorcise the
power of appointment alone and in all events.
(d) If my wife shall fail to effectively exercise
suoh power of appoint:ment, then my Trustees shall pay over any
remaining prinoipal to the trustee of my residuary trust adding
property to the prinoipal of my residuary trust and suoh property
shall thereafter follow the disposition of my residuary trust in
all respents as to both principal and inoome.
(0) To payor apply to or for the benefit of my
said wife from the principal of this trust suoh amount or amounts
as my Trustees hereinafter named shall from time to time determine
in their absolute and unoontrolled disoretion without regard to her
income from other souroes.
(f) It is my intention to obtain the maximum
marital deduction allowable to my eatate under the provisions of
Seotion 2056 of the U. S. Internal Revenue Code, and all of the
provisions of this my Will and any Codicil to it shall be construed
and applied so as to give full effect to my said ~ntention. If the
effect of any provision or provisions of this Will or of any codicil
to it would be to prevent the allowanoe of said marital deduction
with respeot to this marital trust, then I direot that such Offending
provision or provisions shall not apply to this mari tal trust, and
that so far as such trust and its administration are conoerned, this
Will and any Codicil to it shall be read and take effeot as if
such offending provision or provisions did not exist.
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FOUR'rHl All the' rest,. residue and ren\ai.nder of my estate of
whatsoever kind and nature and whoreflOever sltuate, of whioh I
may di.e seized or possessed or to whioh I may be entitled to at the
time of my death, including any property over which I may have the
power of di.sposition by appointment or otherwise, or in the event
that my wife shall predecoase 'me, then all of Buohestate, I give,
devise and bequeath to my trustees, hercd.nafter named, and thei.r
RuccessOrs, IN 'I'RUST, to hold, manage, invest and reinvest the
same in the manner hereinafter provided, and to recoi.ve the rents,
issues, di.vidends, income and profits therefrom, and after deducting
the necessary ilnd proper expenses of admi.nistration, to pay and
distribute the net income and principal as follows:
(a) To pay and apply the net income to the use of
such person or persons, belonging to a class composed of my said wife
and of my descendants living from time to time during the life
of my said wife, as my said trustee shall. from time to time in its
absolute discretion select to receive the same or any part thereof,
or in default of such sol.ection than entirely unto the use of my
said wife, with the following restriction:
I hereby direct my trustee, hereinafter named,
to aocumulate and deposit all of the shares of the common stock of
Vehicle Safety Products, Inc. owned by me at the time of my death
in this trust account, and not in the trust account heretofore
described in paragraph "THIRD", and my trustees are direoted to pay
out of the principal of this trust no more thnn ten percent of same
per year should the value of the corpus of this trust be less than
$150,000.00 but more than $100,000.00. In the event the value of
the corpus of this trust is more than $150,000.00, then and in that
event I diJ:eot my trustees to pay only the income from this trust
and not to invade the principal amount. In the event the corpus
of this trust shall exceed $500,000.00, my trustee is directed to
distribute the princi.pal of this trust to my surviving children in
acoordance with paragraph numbered "I!'OURTU" (b), 3", notwithstanding
the faat that my wife is living, at,the time of the distribution.
In I:he ovent the common stock of Vehiole Safety
produots, Inc. now owned by me is not purchased from my estate through
any Buy-Sell Agreement exeouted by Vehicle Safety products, Inc.,
Delton R. Dunkling, and Walter U. Fitzgerald, then it is my intention
that my trustees deposit in this residual trust sufficient of my assets
to provide my estate with the maximum marital deduction allowed.
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(0) Upon my wife's death" or upon my death, if she
should predecease me, my trustee shall divide the then remaining
prinoipal of this trust 1.nto as many equal shares as there shall be
ohi ldren of m1.ne than 1.1. vi ng, plus chi ldran of mine then deceased
(leaving issue then 1i.v:lng), and
1. My Trustce~ shall pay over and distr1.bute
each sharercprcf.wntcd by any (such) ch1.1d of mine who shall then
be deceosed, par stirpcs, to such child's thtin living issue
(or in the def nul t of such issue, par stirpes, to my then living
issue, except thot the portion payable to any child of mine shall
be added to tho principal of tho trust horein provided ~or such
child) . '
2. My Trustees shall hold in trust each share
represented by any then living child of mine and shall pay the net
income therefrom to such child, for his or her life. During such
time my Trustees may alsa expend such sums from the principal of
said share as my Trustees deem proper far such child's cure, comfort,
support and education including higher education. If such child
should wish to purchase a homc, invest in a busJ.neBs, or engage in
the practice of a profession, my Trustoes may also pay to him or
her such sums from the principal of said share as my Trustees deem
proper for any or all of these purposes.
3. After attainment of the age of twenty-five
(25) years by any child of mine who may be receiving inoome under
paragraph 2 above, my Trustees shall also pay to suoh child such
part of the principal- of the share represented by him or her as
he or she may from time to time, and at any time, request in
writing, provided, however, that upon attaining Rge twenty-five
(25) years, such ohild may make one or more wi. thdrawals not
exoeeding the aggregate (one-third) of the then market value of the
fund, exolusive of any amount alroady subject to withdrawal, on
the date upon which the first request is made after attai.ning
age twenty-five (25) years; and after attaining the age of thirty (30)
years, suoh child may make one or more withdrawals nat exoeeding in
the aggregate (one-half) of the then market value of the fund,
exolusive of any amount already subject to withdrawal, on 'che date
upon whioh the first request is made after attaining age thirty (30)
years; after attaining age thirty-five (35) years, he or she may
make withdrawals of any part or all of such fund.
4. Upon the death of each child of mine who may
be reoeiving inoome undor paragraph 2 above, my Truatees shall pay
over and distribute the then remaining principal of the share rep-
resented by such ohild, per stirpes, to such child's then living
issue, except that the portion payable to lany child of mine then
receiving the income from any trust under this Will shall be added
to the principal of such trust.
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t'U'TH. If pursuant to. this Will all er any part ef my ostato
ahall vest in absalute ewner'shi'p .in a miner er minors er if at the
\ '
terminatien af any trust oroated by this Will all ef or any part ef
the prinoipal ef suoh trust shall vest in absolute ewnership in a
minor er miners, I autherize und ompewer my executers er trustees,
/
as 'I;he oase may be, in their d.isoret:i.en, to hold the preperty so.
vested .in suoh minor, er any part thereof, in a soparnte fund for
the benef.it of such minor, netwi.thstunding that suoh prOl)erty may
oonsist'.ef investments not autherized by law for trust funds, and
to. .invest and reinvest the same, oelleot the i.ncome therefrom and,
dur.ing the minor.ity ef suoh miner, to. apply so. much or all ef the
prinoipal thereof and so much or all of the net inceme therefrem
and any accumulated .inceme to. the support, eduoatien and maintenance
ef such minor, as my exeouters er truatees shall see fit, and to.
aocumulate, invest and reinvest the balance of said income until
such minor shall attain the age ef twenty-one (21) years, and there-
upen to pay ever the then principal, tegether with any accumulated
inceme, to. such miner, and if such miner shall die befere attaining
the ago of twenty-one (21) years, then upon the death ef such miner,
the then prinoipa1 tegether with any accumulated inceme shall be paid
ever to. the estate ef such miner. The authority conferred upen my
exeouters and trustees by this paragraph shall be censtrued only as
a pewer in trust, and shall net eperate to. suspend the absolute
ewnership of such property by such minor or to. prevent the abse1ute
vesting thereef i~ such minor. With respeot to. any such preperty which
shall vest in abse1ute ownership in a minor or miners, but whioh
shall be held by my oxeouters er trustees as authorizod in this
paragraph, my exooutors or trustees shall have all the powers cen-
ferred by the ether previsions of this Will including, without limi-
."
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tation, the power to retain, invest and re:\.nveat without being
lim!. ted to investments authori zed by law for trust funds I and
they shall be enti tled to commi.Bsions at the ratos and in the
manner payable to tOfll:amentary trustees.
SIX'rH I I hereby gi.ve and grant to my Executor and Trustee
and the sUCC08flor or successors of I:hom the power and authority
whioh may be oxerci!.1ed by him in eil:her or both capac!.ties at any
time and from time to time, as he shall, in his absolute discretion
deem ndvis able I
(a) To hold and rotain all or any part of my estate
or any trust created hereby in the form in which the same may be
at the time of my decease, or at the time of the receipt thereof
by my Trustee from my Executor, as long as they may deem advisable.
, (b) To invest and reinvest in any securities, stocks,
bonds or other property, real or personal, of whatsoever nature,
including without l!.mitation, by reason or specification, units
of a common trust fund, whether or not such property constitutes
a lawful investment for trust funds under the laws of the State of
New York.
(c) To lease, sell, exchange, mortgage, partition
or otherwise dispose of any property, real or personal, of which
I may die seized or possossed, or which may at any time form part
of my estate or any trust creatod hereby, at such times and upon
such terms and condi tions as they shall deem advisable, and to
make, execute and deliver good and sufficient deeds, J.eases, mortgages
and other instrwnents executing the same. Any lease made by my
Executor or Trustef3 may extend beyond the period fixed by the statute
governing leases made by fiduciaries and beyond the term of any trust
created hereby.
(d) To borrow money for any purpose in conneotion with
the administration of my estate or any trust created hereby, to execute
promissory notes or other obligations for amounts so borrowed and to
secure the payment of any amounts so borrowed by mortgage or pledge
of any real or peraonal property of which I may die seized or possessed,
or which may at any time form part of my estate or any 'l:rust created
hereby.
(e) Whenever required or permitted to divide or distribute
my estate or any trust created her~by, to make such division or
distribution in kind or in money, or in part kind and in part money.
Any aBsets distributed in kind shall be valued at their fnir market
value as at the dato of such distribution.
(f) To exercise all power and authority, including any
discretion co,nferred in this Will, with respect to all accumulations
of income under this Will and with respect to all property held under
a power in truet in this Will.
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(9) TO exercise all power and authority, inoluding
any diaoret;ion conferred in this Will,' after the termination of any
trust created hereby and until the fHlme is fully distributed.
(h) To exercise any option or election available
pursuant to any in'~ome,' ostnteor gift tax provisions of any tax
law of the United Statos, or any state thereof, or any other taxing
authority, applicable to me or my estate,' and to make such adjust-
ments, if any, between or among ilny intorest or interests i.n my astate
as my Executor, i.n the exorcise of absolute discJ:l~tion may deom
advi.sable.
(i) To receive insuJ:nnce proceeds and to administer
and distribute same as principal in accordance with the dispositive
provisions of this paragraph.
SEVENTH I In the event that my wife and I shall both die under
such circumstances that tho or<'\er of our deaths cannot be established
by proof, then I direct that for the purposos of this Wi'll, my
wife shall be doemed to have survived me.
EIGHTllI I horeby nominate, constitute and appoint my wife,
NANCY BELLE FITZGERALD, to be the Executrix of this my Last Will
and Testament. In the event my wife shall predecease me, or sur-
viving me, shall be unable or unwilling for any reason to qualify
to act, or to continue to act as such Executrix, then in anyone of
those events only, I hereby nominate, constitute and appoint
MARINE MIDLAND BANK-CENTRAL, to be the Alternate Executor of this
my Will. I hereby direct that neither my wife, NANCY BELLE FITZGERALD,
nor MARINE MIDr~ND BANK-CENTRAL, shall be required to furnish any
bond or ether security in any jurisdiction for the faithful performance
of their'duties as such. In the event my wife, NANCY BELLE FITZGERALD,
shall predecease me or we both die as a result of a common disaster,
then I hereby nominate, constitute and ~ppoint GEORGE RENAUD of
Ashdon Avenue, Detroit, Michigan as Testamontary Guardian of such
of our children as are minors at the time of my death.
HI V'.I'\ I (,1,111
County, Numhor (lnd Nomo_,___
n -79 .ulj56
Fllo Num~.r ___... _ ..._ ....._. ... ...._._._.____."_._.,____''',,_.._,,.~
Dut. ul D.oth._~_9l2:9176 .m....__.__."._.".,_ ,,,,__,,,,,_
Elt.t. Nom. _ .1~~.IZ~!"~~.~P!.~_.~_._.I:IR11!'!.______....l\~.<:2.."
H/.!llt~AMI) (rlfU1NAMEI (II~III^t.1
21 . Cumbe l'Il1 n(1
SUMMARY
COMMONWEA~TlI OF PENNSY~VANIA
TRANSFER IN~IERITANCE TAX
RESIDENT DECEDENT
REPORT OF INIIERIT ANCE TAX APPRAISER
Cumborlllnd
I, tho und.nlgnod duly lIppolntocl Inhorltanco lox Approll.' In nncl f.r tho County of ~.__.
I'.nn.ylvanl., d. rO'llo"tf.lly roport that I havo oppral.od tho r.ol and p."onal prop arty a. r.portod In tho lo,.golng ,oturn at
tho volu.. .ot forth oppoolto oach It.1I1 In tho la~t column to tho ,Ioht In Schncluloo "A", "II", "C", nnd "E".
Dut.d,
Movember n, 1979
''<! d II ({II' ) JdLdJ.l!...L_.
INIII'.fHTANr;I~ 'fAx AI'I'IIA!l)I'H
---
--........+.- -"--"--'-"~' .~-.__.__...._-"
..----~ .
=....-
REPORT OF THE REGISTER OF WILLS
I, tho undonlonod duly olootod Rogl.t., of Will. In ""d fo, _ __ County, P.nnoylvanla, do ,eopect.
fully r.nart thutl have nllowod doductlono In tho amounts clalm.d by cloponont, oxcopt UI to tho.o Itom, wh.rll 0 gl.al., a,
I...., amount I, lOt forth In tho la.t column to tho right In Schlldul. "1''', which groatar 0' lauo, amount 10pI...nta tho .UII1
ollowod a. 0 d.ductlon,
Dal.d, ._
RFOIS11-:11 (If- WIL l.9
)fonl!!
Hone
012 25
- ADJUSTMENTS .""'.
ODE IIIAnfUSDUrW USF. ON~ YI
00.
10.
aOt
30+
REMAINDEII APPRAISEMENT CODE
9 t
INVF.NTORY
Fleal ProllGr1V (Sohedule AI
I'or,ollnl Propllrt'r' (Schedule RI
Jolnl.Heht ProtHtrty (Schodule lH
Troll,for. (Schodule C)
TOTAL onoss ASSETS
tillS Oohh dud Ollducllons
ISCIIEDU~E FI
CLEAn VA~UE OF eSTATE
V,~~UE AS APPRAISED
$ Mone
4e.
93.
Vcl1ualloll of Ilfo o.tatu Qr .:J:....._. PR1!i2.!.!:b!
~:'~'~~~.~'~~'~~~~.:S'~:~;~... : _==t=
'~i=
~~ COCE
_J
f:.Q~ USI!: OF RE~ ONL.Y
TOM Oil $
Tn~ CltI $ _
TU)(()Il$_.
Tux on $
Tox all $
ElI:flmrllonl
Totol (stntn
Q.2!2J!
gQ,MPUTATION OF TAK
a%
0%
10%
$------
$
$
$
$
TOT^~ TAX
$
$ ~
$
$ . .
(i) AI evhlon(:ucl br Churltable
t!lo:umptlo" Cortlllcatu lllued
by the Sa'cratcifY 0' Rovallue,
Lo.. tOK prevloully palll
nA~ANce
l.uu !l% of In:>: If paid wllhln
3 months (111M doath
$
$
1=
l_
I ~
$ ~ -
$
~-- ---
,---_:- .
$
BALANCE 01' IN>.IERITANCE TAX DUe
Add InlcHol1 flt tolo of 6% from
la__
AMOUNT OF eHAH HX ASSESSEO
[,tulo lUll 1I0ld
OA~ANce DUe
Add Intllffl't (It rato ~f 6% from
10
~
TOT A~ TAX OA~ANce
PAIO~___
Suppl.m.nt.1 Cnd"l (FOR USE IN HARRISBURG ONL Yl
48-A~luotm.nt
491 Adlu.tm.nt
56-Annuity
60-Llfo Eltata
92tR.maln~.. Apllloloal
93-Romalnd.. O.ductlan
9 :IC-Cha,1 ty
'J4-Romolnd., R..ldua
1J6-Succ...lvo
Lifo E.toto
FOR USE OF REGISTER ONLY ADJUSTMENTS
--+-~-
NOTE, Who,. .ublOquent adlu.tment> a,. mad. to tho abovo computaflan 01 tax by tho Rool.ta, 01 Will., fa, p,ope, ,e..an
oamo ohould bo not.d b.law, with ,hall uplanaflan. "
1l!:V,'l'll (1l.'/1I)
Of:flArnMF.NT 01: ~lE"r:NIJr.:
IIlIJlrAU or f'1I,W nl'''IIATlONH
P.O. nox 2U!O
IlAIIIWallJI10.1'f'NNA,17101l
I CCJrVHllmJlJE/IL'ftl 01" "fiJIJS'(LV,"NI^
III'SllJi'I'J'i' 1 1\111 i:1 1I rlll'JCE rfl>(
AI'PII/\ I~: l'IVl r~rr
- -~......-----_..-..........._.._~...-_..._..---_.....
I }/', "-I: _-.!~~~~~~..!L~!..!..~.!?_.
Cumborluncl
I:UIJNI y __.-__".~_'___L'_~.__._
,Il! Iill ~,I,.'19~OII56
-~---.-._-~---......_,
WhOI'O<1fl, W..1 ter Bruce l'Hzgcrn 1d iato of J>lI11l l'onn.b",:o 'J'ownllhip
in tho County of Cumbert!:nd ......__..._..._-==.::=ccillllllonwu;lllh nr-P;;;~)iil, h'I;j'~~::i"'-~'r-:---
the 29lh d,IY of __S~.!:!:~=-.__ 19~, i:l'j"od lI1\d POS")f"",d 01 "11 (1::1;01"
!:1\bjoctto Il1hol'itance Tax 1\ndlll' tho ImvfI of Ilw COIl11\lOl1w""llh (II' 1'0011\'lvlv;lIIh;
Thol'oforo,lj Stlhdrn L. ~tollf1 __.__._~_....._ I .111 (1PPJ"li~:f:I' dldv ,'IPPOlllll'd ,If'C(il'r'll1fj If) l'I\V,
havinq br.on c1esl\lnatod to mako a rail' anti uom;cJo1\C\blo dpPl'aiHOI1l"l'lll,r tho.';;1id OHi.lt", dlHII!! ,"S"'!:; ""d Ii', Ii.., ':d:h
villue of 1111 ilnnuitl~s ilndUfe ustates l]l'owlnq O\lt or naid ("a1l1o, herr.by filo Iho follQwillH apPI:nISetllOtlt:
III tllo OVOIlIIIl....IIlIIY futuro IlltutlJSt In 0'1\ /151,110 I~ tr,lIlUUH('iI illIHl~lI]HI<lll or !llIlu'flllon! III C\lII;JIHI"IIII'tj', '11111,' iI',UIl;'-"!\ .llt.., Ill.' 'J~pl'<lUlltl
of Ilny 0\1,110 for lito m 1m YOilrl, tho COn1ll111f1Wo~1t11 IltHIlIJy t!)(IIIQ"ly Ir~lIfv,IS Ill" rI{lhl I., .1IlrHill\o ,11\d /IH'l~" 11,11\\1"1 11I11IHH.Il\ll' l'1"h~ ;;[ 110/' 1.,,..,01111 (OIl.ltlll ,II
rIllo 011 lIflY such fllhllo IflIOfO".
- - - --m11l'- .... '-~,iT::7iiiii7il
IH,~(:HlP"rIOI'I of 1\';;'1 I V/\LIJI:rl H.\(luf'nlnlifllll,IIIl"
1 il~' PUIPllSHl
. .-_. ,...... ~
Roul l.'roperty , Mone
--- ---.. '-..-----
l.'eraonu1 l'roporly 7,012
-------
Joint-Uald l'roperly Hono
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Trllnal'ero Mane
- . ----- . .-
!
, --.1-. .-- _.-
OltoSS ASSE'J'S 7.01~ 25
__~~__.w ------- --.---
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- - --
- ~ --
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Havo boon duly sworn aOQ~rdJnu to iowI I do heroby oortlfy thilltho abovo appr,lIIlQlnontJ"l1lndo In c:onI'Ql'lnity
with tho law on this 2 8 ray of ' . ""velll or 1 <) t:!.-,
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Dt'IJUClIONti Al.l.(lWIIl I~
Of'f'Ic.:r 0' nU,
Rf'lllflflR (J' WIl.tll
STATEMENT OF DEBTS
AND DEDUCTIONS
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AND ,A,(l"NT 01" lHI OOMMONWIAL.Ttt
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373 Sample
U,~/78
ERTAT!: OF
OATI of/' PILINO APPJIl"'UMINT' ,1J (J~ '
Walter B. .!::it~ger~_ld .An 0"
DATI 0' PIATtl
OATil:
NO, ('I"
....oUCHISIll
NAMI OF flAYU
REMARKI
AMOUNT
.1 O.fl.? .}.~_._
clinic Medical ~~
Emer ancy Service Assoc.
Summerdale Fire Co.
543 32
48 35
_lQL15 78
10 15 78
78
M ers-Hall Funeral Home
Famil
tion
Reaister of Willi; Prove will 8
Re ister of Wills Filin Inventor & Tax 9
rns
Register of wills 7
pe
Re ister of Wills FiEin~ Pe for 4
:;u S1: t e
Betty L. Rada Notar Fees 8
Handler and Gerber P.C. Attorne Fee
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HlRUY okATll"Y, THAT, ,"0 Ttir lteT 01"'
MY KNfJWLIOQl: AND ar:l.n.:r, nu: "Ofu:aoItJQ II A JU8T AND TAU I IrATI"'ENT or Dllr., 'UHI"AL,. UP'H'" AND UPIlNUI 01'
AtJMIN1WHlA'(ION IUUMITlIU 10 Uti UTA,TIi 01" __~W~t.o.J::........B--F~~ J iI ;}?l~1 ID, AI altlUeTION~. '0"
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H."h~'lrlJ. flit I)]. ;,j In C'IUIlIt
(8) No disbursemsnts have been made from the
estate prior to the filing of this petition.
(9) The followin~ bills have been paid prior to
the fi~ing of this petition with monies advanced by the
petitioner I
Myers-Hall Funeral Home
Polyclinic Medical Center
Emergency Service AssoO.
summerdale Fire Co.
Register of Wills
Prove Will
Register of Wills
Filing Inventory and TaK
Returns
Register of Wills
Filing 8mall Estate petition
Register of Wills
Filing petition for substitu- "
tion of Trustee
Register of Wills
Inheritance TaK
$ 543.32
48.35
150.00
25.00
8.00
6.00
7.00
4.00
nIl. 62
(10) The only unpaid claims nbted in the Statement
of Debts and Deductions or elsewhere are the Notary Fee, $8.00,
and the Atuorney for petitioner, $624.00, which are admitted.
(11) The petitioner claims $2,000.00 in money as her
exemption from the proceeds of the Unity Mutual Life Insuranoe
Company of New York policy.
(12) A sohedule of assets and deduotions for inheri-
tanoe tax purposes has been filed with the Register of Wills on
October 12, 1979, copies of whioh are attached hereto as
Exhibit "B",. inheritance tax was assessed in the amount of
$219.62, whioh was paid on Ootober 25, 1979.
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!JAST \'1!]~L AND 'l'l1lS'!'A}i!~.!i!
I, WALTER BRUCE FITZGEr~LD, of the Town of Manlius,
County of Onondaga and state of New York, being of sound mind
and memory, do hereby make, publish and declare thls to be my
Last Will and Testament, hereby revoking all former wills by me
madel
FIRSTI I dlrect that my Executor pay all ostate, inheri-
tance and similar taxes imposed by the United states of America, or
any State or subdivision thereof (and authorize it in itsdisoretion
to pay any suoh taxes imposed by any foreign jurisdiction) with
respeot to my estate herein disposed of, or any part thereof, or
any bequest or devise contained in this my Will (which term wherever
I
used herein shall include any codicil hereto), and that
all such taxes so paid by my Executor to be paid as administration
expenses out of my residuary estate.
SECOND I I bequeath all my personal and household effeots and
all automobiles whioh I may own at the time of my death to my wife,
NANCY BELLE FITZGERALD, or if she shall not survive me, to suoh
of my children as shall survive me, in equal shares, to be deter-
mined by my Executor in its disoretion.
THIRDI If my wife, NANCY BELLE FITZGERALD, shall survive me,
I give and bequeath to my Trustees a legacy in an amount equal to
the maximum marital deduotion allowable in determining the United
States estate tax payable by reason of my death, diminished by
the value of all other property and interests in property which
shall be included in'my gross estate for United States estate tax
.
purposes and which qualify .for said marital deduction and which
pass or have passed from me to my wife, either under any other
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provisions of this Wi.ll or in any other manner outside of this
Will. The words "pass" and "have passed" wherever used in this
Artiole shall have the meaning as said wor.ds f1hall have under
the provisions of the Uni t~d States I nteI'nal Revenue Code
applioable to my Qstate.
(a) My TrustQes shall hold this legaoy as a
separate trust for the benefit of my wife and shall pay over to
or apply for the' benef i t of my wife all the inoome therefrom
recQived from and after the date of my death to her in quarterly
or more frequent instalDnents so long as sho sh~ll live.
(b) My Executors or Trustees shall approximate
the amount of income from such trust and pay the same to my wife
during the administration of my estate, applying any such payments
against the income to which she shall be entitled or making suoh
other adjus'tments as may be necessary when the exact amount of the
principal of the trust is determined.
(c) Upon the death of my wife, my Trustees shall
transfer, convey and pay over and I hereby give, devise and bequeath
the principal of the trust created by this Article to such person
or persons, including, without limi tation, the Executors and
Administrators of the estate of my wife, as she may by a specific
reference thereto in her Last Will and Testament appoint, it being
my intention that my wife shall have the right to exercise the
power of appointment alone and in all events.
(d) If my wife shall fail to effectively exercise
such power of appointment, then my Trustees shall pay over any
remaining principal to the trustee of my residuary trust adding
property to the principal of my residuary trust and suoh property
shall thereafter follow the disposition of my residuary trust in
all respects as to both principal and inoome.
(e) To payor apply to or for the benefit of my
said wife from the prinoipal of this trust such amount or amounts
as my Trustees hereinafter named shall from time to time determine
in their absolute and uncontrolled discretion without regard to her
income from other sourcos.
(f) It is my intention to obtain the maximum
marital deduction allowable to my estate under the provisions of
Section 2056 of the U. S. Internal Revonue Code, and all of the
provisions of this my Will and any Codicil to it shall be oonstrued
and applied so as to give full effect to my said intention. If the
effect of any provision or provisions of t.his Will or of any codicil
to it would be to prevent the allowance of Baid marital deduction
with respect to this marital trust, then I direct that such offending
provision or provisions shall not apply to this marital trust, and
that so far as suoh trust and its administration are concerned, this
Will and any Codicil to it shall be read and take effect as if
such offending provision or provisions did not exist.
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FOURTH, All the' rest, rssidueand remainder of my estate of
whatsoever kind and nature and wheresoever Ili tuate, of which I
may die seized or pOElllessed or to which I may be entitled to at the
time of my death, including any property over which l may have the
power of disposition by appointmont or otherwise, or in the event
that my wife shall predecoalle 'me, then all of suchostate, I give,
devise and bequeath to my trustol'lS I hero.i.nafter named, and their
successors, IN TRUST, to hold, manage, invest and reilwest the
same in the manner hereinafter provided, and to receive the rents,
issues, dividends, income Bnd profits therefrom, and after daducting
the necessary and proper expenses of administration, to pay and
distribute the net j,ncome and principal as follows I
(a) To pay and apply the net income to the use of
such person or persons, belonging to a class composed of my said wife
and of my descendants living from time to time during the life
of my said wife, as my said trustee shall from time to time in its
absolute discretion select to receive the same or any part thereof,
or in default of such selection then entirely unto the use of my
said wife, with the following restrictionl
I hereby direct my trustee, hereinafter named,
to accumulate and deposit all of the shares of the con~on stock of
Vehicle Safety Products, Inc. owned by me at the time of my death
in this truat acccunt, and not in the trust account heretofore
described in paragraph "THIRD", and my trustees are directed to pay
out of the principal of this trust no more than ten percent of same
per year should the value of the corpus of this trust be less than
$150,000.00 but more than $100,000.00. In the event the value of
::he corpus of this trust is more than $150,000.00, then and ill that
event I direct my trustees to pay only the income from this trust
and not to invade the principal amount. In the evant the corpus
of this trust shall exceed $500,000.00, my trustee is directed to
distribute the principal of this trust to my surviving children in
accordance with paragraph numbered "FOURTH" (b), 3", notwithstanding
the fact that my wife is living at,the ti~e of the distribution.
In the event the common stock of Vehicle Safety
Products, Inc. now owned by me is not purchased from my estate through
any Buy-Sell Agreement executed by Vehicle Safety Products, Inc.,
Delton R. Dunkling, and Walter B. Fitzgerald, then it is my intention
that my trustees deposit in this residual trust sufficient of my assets
to provide my estate with the maximum marital deduction allowed.
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(c) Upon my wife's death,' or upon my death, if she
Bhould pradeooDae me, my truBtee shall divide the then remaining
principal of this truBt into as many equal sh~res as there shall be
ohildren of mine then living, plus children of mine then deoeased
(leaving issue theri living), and
1. My Trustoe~ shall pay over and distribute
eaoh share reprosentnd by any (such) child of mine who shall then
be deceased, per ati rpos, to such child's t:hen living issue
(or in the default of such issue, per stirpes, to my then living
iaau8, except that the portion payable to any ohild of mine shall
be added to the principal of the trust herein provided for such
child) . .
2. My Trust:oes shall hold in trust each share
represented by any then living child of mine and shall pay the net
inoome therefrom to such child, for his or her life. During such
time my Trustees may also expend such sums from the pri..noipa1 of
Baid share as my 'fr\lstees deem proper for such chi Id' Beare, comfort,
support and education including higher education. If such child
should wish to purchase a home, invest in a business, or engage in
the practice of a profossion, my Trustees may also pay to him or
her such sums from the principal of said share as my Tnlstoes deem
proper for any or all of these purposes.
3. After attainment of the age of twenty-five
(25) years by any child of mine who may be reoeiving inoome under
paragraph 2 above, my Trustees shall. also pay to such ohild such
part of the principal' of the share represented by him or her as
he or Bhe may from time to time, and at any time, request in
writing, provided, however, that upon attaining age twenty-five
(25) years, such ohild may make one or more withdrawalB not
exceeding the aggregate (one-third) of the then market value of the
fund, exolusive of any amount already subjeot to withdrawal, on
the date upon whioh the first request is made after attaining
age twenty-five (25) yearsl and after attaining the age of thirty (30)
years, Buch c:hi ld may make one or more wi thdrawalB not exoeeding in
the aggregate (one-half) of the then market value of the fund,
exclusive of any amount already subjeot to withdrawal, on the date
upon whioh the first request is made after attaining age thirty (30)
yearsl after attaining age thirty-five (35) yearB, he or she may
make withdrawals of any part or all of suoh fund.
4. Upon the death of each child of mine who may
be receiving inoome under paragraph 2 above, my Trustees shall pay
over and distribute the then remaining principal of the share rep-
resented by such ohild, per stirpes, to suoh ohild'B then living
issue, exoept that the portion payable to ,any child bf mine then
reoeiving the income from any trust under this Will shall be added
to the principal of suoh trust.
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FIFTHI If pursuant to thl.s Will all or any part of my os tate
shall vest in absolute owner'shi'p .in. a minor or minora or if at the
\
termina.t:ion of any trust created by this Will. all of or any part of
the principal of such trust shall vest in absolute ownership in a
minor or minors, I authorize and empower my oxecutors or trustees,
,
as the case may be, in their discretion, to hold the property 80
vested in such minor, or any part thereof, in a separate fund fC\r
the benefit of such minor, notwi.thstanding that such property may
consist'~f investments not authorized by law for trust funds, and
to invest and reinvest tho same, collect the incC"lme i:herefrom and,
during the minority of such mJ.nor, to apply so much or all of the
principal theroof and so much or all of the net income therefrom
and any accumulated income to the support, education and maintenanoe
of such minor, as my exeoutors or trustees shall see fit, and to
accumulate, invest and reinvest the balance of said income until
suoh minor shall attain the age of twenty-one (21) years, and there-
upon to pay over the then principal, together with any accumulated
income, to such minor, and if such minor shall die before attaining
the age of twenty-one (21) years, then upon the death of such minor,
the then prinoipal together with any aooumulated income shall be paid
over to the estate of such minor. The authority conferred upon my
exeoutors and trustees by this paragraph shall be construed only as
a power in trust, and shall not operate to suspend the absolute
ownership of suoh property by such minor or to prevent the absolute
vesting thereof in such minor. With respect to any such property which
,
shall vest in absolute ownership in a minor or minors, but whioh
shall be hald by my executors or trustees as authorized in this
paragraph, my eXecutors or trustees shall have all the powers con-
ferred by the other provisions of this Will including, without limi-
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tation, the power to retain, invest /lnd reinvest without being
limited to investments authorized by law for trust fundsl and
they shall be entitled to commlssions at the rates and in the
manner payable to testamentary trustees.
SIXTHI I hereby glve and. grant to my Rxecutor and Trustee
and the sucoessor or successors of them the power and Huthority
whioh may be oxeroised by him in either or both oapaoi ties at any
time and from time to time, as he shall, in his absolute disoretion
deem advisable:
(a) To hold and retain all or any part of my estate
or any trust created hereby in the form in which the same may be
at the time of Il1Y decease, or at the time of the receipt thereof
by my Trustee from my Executor, as long as they may deem advlsable.
(b) To invest and reinvest in any securities, stocks,
bonds or other property, real or personal, of whatsoever nature,
including without limitation, by reason or specification, units
of a oommon trust fund, whether or not such property oonstitutes
a lawful investment for trust funds under the laws of the State of
New York.
(c) To lease, sell, exchange, mortgage, partition
or otherwise dispose of any property, real or personal, of whioh
I may die seized or possessed, or which may at any time form part
of my estate or any trust created horoby, at such times and upon
suoh terms and oonditions as they shall deem advisable, and to
make, execute and deli vel' good and suf ficient deeds, J.eases, mortgages
and other instruments executing the same. Any lease made by my
Exeoutor or Trustee may extend beyond the period fixed by the statute
governing leases made by fiduciaries and beyond the term of any trust
oreated hereby.
(d) To borrow money for any purpose in oonnection with
the administration of my sstate or any trust created hereby I to execute
promissory notes or other obligations for amounts so borrowed and to
secure the payment of any amounts so borrowed by mortgage or pledge
of any real or personal property of which I may die seized or possessed,
or whioh may at any time form part of my estate or any trust oreatod
hereby.
(e) Whenever required or permitted to divide or distribute
my estate or any trust created her~by, to make such division or
distribution in kind or in money, or in part kind and in part money.
Any assets distributed in kind ahall be valued at their fair market
value as at the date of such distribution.
(f) To exeroise all power and authority, including any
disoretion oonferred in this Will, with respeot to all aocumulations
of inoome under this Will and with respeot to all propert; held under
a power in trust in this Will.
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(g) To oxerciseall power and authority, including
any discretion conferred in thl.'s Will, after the torminatio.n of any
trust created hereby and until the same is fully distributed.
(h) To Bxercise any option or election available
pursuant to any income,' ostclto 'or gift tax provisiona of any tax
law of the United States, or any state thereof, or any other taxing
authority, applicable to me or my estate, and to make such adjust-
ments, if any, between or among any interost or interests in my estate
as my Executor, in the exercise of absolute discretion may deem
advisable.
(i) To receive insurance proceeds and to administer
and distribute same as principal in accordance with the dispositive
provisions of this paragraph.
SEVENTH I In the event that my wife and 1 shall both die undeI'
such circumstances that the order of our deaths cannot be established
by proof, then I direct that for the purposes of this Will, my
wife shall be doemed to have survived me.
EIGHTlh I hereby nominate, constitute and appoint my wife,
NANCY BELLE FITZGERALD, to be the Executrix of this my Last Will
and Testament. In the event my wife shall predeoease me, or sur-
viving me, shall be unable or unwilling for any reason to qualify
to act, or to continue to act as such Executrix, then in anyone of
those events only, I hereby nominate, conatitute and appoint
MARINE MIDLAND DANK-CENTRAL, to be. the Alternate Executor of this
my Will. I hereby direct that neither my wife, NANCY BELLE FITZGERALD,
nor MARINE MIDLAND BANK-CENTRAL, shall be required to furnish any
bond or other security in any jurisdiction for the faithful performance
of their duties as such. In the event my wife, NANCY BELLE FITZGERALD,
shall predecease me or we both die as a result of a common disaster,
then I hereby nominate, constitute and appoint GEORGE RENAUD of
Ashdon Avenue, Detroit, Michigan as Testamentary Guardian of such
of our ohildren as are minors at the time of my death.
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NINTHI I hereby nominate, constitute and appoint MARINE MIDLAND
BANI<,-CENTRAL, to be, the Trustee of the trust created under the pro-
visions of thi's my Last Will ,and Testament.
IN WITNESS WHEREOF, I have hereunto set my hand and seal this
I s:r day of March, in the year One 'rhoussnd Nine Hundred and Seventy-
three. .
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IJ~~~'ll<~~~L'S'
WE, whose names
'i",~
I "'" day of March,
scribed his name to
are hereto subsoribed, DO CERTIFY, that on the
1973, WALTER B. FITZGERALD, the Testator, sub-
I
this .instrument, which consists of eight pages,
in our presenoe and in the presence of each of us and at the same time
in our presenoe and hearing, declare,d the same to be his Last will and
Testament, and requested us and each of us to sign our names thereto
as witnesses to the execution thereof, which we hereby do in the
presenoe of the Testator, and of each other, on the said date, and
w~~t,~...~:.~~~te ,our.~~m~~' our' respective Places.~f..re~~dence;.-:::>
. ,,,,. ..,. /~ .....&, /.'2e'e-c:!~ E.-.". '. _.__' ,',' '....
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COMMONWEALTH OF PENHSYLVAH'IA
COUIHV 01' CUM\lERLAND
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bolng duly,. ,Bworn.. .. . according to law, dopo,o, and lay' Ihat 13 he ~j.R ._tha..~._,..m. _..~..
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I.to of ..,..373 , Sample..J3rl c'Ign.Raad.,..F1,)ola,..., ..'n'_" Cumborland Counly, Pa., docoASed ond ihol' iho
within 11 nn Invontory mado by ._Nancy..B..l~LI:2.9arald,,- ..".......~..-.., -, iho ,0td.....ExOC\ltrlx.-_....
01 tho entlro e,tato of ,old 'docodont, cOI"lllIng of .11 iho porlonol prop'ody and reol 0,1010, oxcopt rool o,Iole ouhldo
Iho Commonwoalth 01 POl1nlylvanl., "nd thol tho figure I OppolltO ooch Itom of Iho Invonlory roprOlonl It', fair voluo
01 of Iho dato of docodent', doolh.
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DIY Month Yur
INSTRUCTIONS
I. An Inventory mull be 1II0d withIn Ihroo monlh. altor oppolnlmoni of porlonal roprolonleilve.
2. A lupplomol1i lovonlory mUll be flied withIn Ihldy day. of dllcovoryof additional a.ul!.
3. Additional .hooll may be oHaohod 01 io porlonolly or roalty
4. Soe Article IV, Flduclarlo. Act of 1949.
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LAST \.:II ~~_ ANR...J.~;;f3'l:!\ME~T
,I, WALTER 'I3HU'CE: .'FITZGERAIJD, of the Town of Manli us,
County of Onondaga and state of New York, being, of sound mind
and memory, do hereby make, publish and ,declare this to be my.
Last Will and Testament, hereby revoking all former wills by me
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made:
FIRST: I direct that my Executor pay all estate, inheriw
tance and similar taxes imposed by the united States of America, or
any state or subdivirion thereof (and authorize it in its discretion
to pay any such .taxos imposed by, any foreign jurisdiction) with
respect to my estate herein disposed of, or any part ther.eof, or
any bequest or devise contained in t.his my Will (which term wherever
used herein shall include any codicil hereto), and that
all such taxes so paid by my Executor 'to be paid as administration
expenses out of my residuary estate.
SECOND: I bequeath all my personal and household effects and
all automobiles which I may own at the time of my death to my wife,
NANCY BELLE FITZGERALD, or if she shall not survive me, to such
of my children as shall survive me, in equal shares, to be deter-
mined by my Executor in its discretion.
THIRD: If my wife, NANCY BELLE FITZGERALD, shall survive me,
I give and bequeath to my Trustees a legacy in an amount equal to
the maximum marital deduction allowable in determining the United
States estate tax payable by reason of my death, diminished by
the value of all other property and interests in propert,y which
shall be included in'my groBS estate for United States estate tax
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purposes and which qualify for said marital deduotion and which
pass or have passed from me to my wife, either under any other
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provisions'of this Will or in any other manner outside of this
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Will. The' words ."pass" and."havo 'passed" who'r'ever' used in this
Artiole shall have the meaning as ~aid wor.ds shall have under
the provisioneof the United States Internal Revenue Code'
applicable to my estate.
(a) Hy Trustees shall hold this 1egaoy as a
separate trust for the benefit of my wife and shall pay over to
or apply for the' benefit of my wHe 'all the' income therefrom ,
rece.ived from and after tho' 'date 'of my death to, her in quarterly
or more frequent installments so long as Ahesh~ll live.
(b) My Executors or Trustees shall approximate
the amount of income from such trust and pay the same to my wife
during the adminis1:ration of my estate, applying any such payments
against the income to which she shall be entitled or making such
other adjustments as may be necessary whon the exact amount of the
principal of the trust is determined.
(c) Upon the death of my wife, my Trustees shall
transfer, convey and pay over and I heroby give, devise and bequeath
the principal of the trust created by this Article to such person
or peraons, including, without limitation, the Executors and
Administrators of the estate of my wife, as she may by a specific
reference thereto in her Last Will and Testament appoint, it being
my intention that my wife shall have the right to exercise the
power of appointment alone and in all events.
(d) If my wife shall fail to effectively exerciee
such power of appointment, then my Trustees shall pay over any
remaining principal to the trustee of my residuary trust adding
property to the principal of my residuary trust and such property
shall thereafter follow the disposition of my residuary trust in
all respects as to both principal and income.
(e) To payor apply to or for the benefit of my
said wife from the principal of this trust such amount or amounts
as my Trustees hereinafter named shall from time to time determine
in their absolute and uncontrolled discretion without regard to her
income from other sources.
(f) It is my intention to obtain the maximum
marital deduction allowable to my estate under the provisions of
Seotion 2056 of the U. S. Internal Revenue Code, and all of the
provisions of this my Will and any Codicil to it shall be construed
and applied so as to give full 'effect to my said intention. If the
effect of any provision or provisions of this Will or of any codicil
to it would be to prevent the allowance of said marital deduction
wi th respect to this marital. trust, then I direct that such offending
provision or provisions shall not apply to this marital trust, and
that 80 far as such trust and its administration are concerned, this
Will and any Codioil to it shall be read and take effect as if
such offending provision or provisions did not exist.
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FOUR'l'H I
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All the'res't', " residue 'and remainder of my estate of
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whatsoever kind and nature and wheresoever situate, of which I
may die 'sei zed or poss.eBsed or to which' I may be entitled t.o at the
time of my death," including any proper.ty over which I may have the
power of disposition by appointment~r otherwise', or in the event
that my wife shall predecease 'me, then all of such 'estate, I give,
devise and bequeath 'to' ~y trustoes, heieinaft.er named, and their
s,uccessors, IN THU~rl',' to. hold, ~anage, invest and reinvost the
same 'in the manner hereinafter provided, and t.O recei va the rents,
issues, dividends, income and profits therefrom, and after deducting
the necessary and proper expenses of administllation, to pay and
distribute the net income and principal as follows:
(al To pay and apply the net income to the use of
such person or persons, belonging to a class composed of my said wife
and of my descendants living from time to time during the life
of my said wife, as my said trustee shall from time to time in its
absolute discretion select to receive the same or any part thereof,
or in default of Buch selection then ent:\.rely unto the use of my
said wife, with the following restriction:
I hereby direct my trustee, hereinafter named,
to accumulate and deposit all of the shares of t~e common stock of
Vehicle Safety Produots, Ino. owned by me at the time of my death
in this trust aooount, and not in the trust account heretofore
desoribed in paragraph "THIRD", and my trustees are direoted to pay
out of the prinoipal of this trust no more than ten peroent of same
per year should the value of the corpus of this trust he less than
$150,000.00 but more than $100,000.00. In the event the value of
the oorpus of this trust is more than $150,000.00, then and in that
event I direot my trustees to pay only the inoome from this trust
and not to invade the principal amount. In the event the corpus
of this trust shall exceed $500,000.00, my trustee is directed to
distribute the prinoipal of this trust to my surviving children in
aocordanoe with paragraph numbered "l"OURTH" (bl, 3", notwithstanding
the faot that my wife is living at the tillle oftha distribution.
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In the event the common stock of Vehicle Safety
Produots, Ino. noW owned by me is not purchased from my estate through
any Buy-Sell Agreement executed by Vehiole Safety products, Inc.,
Delton R. Dunkling, and Walter B. Fitzgerald, then it is my intention
that my trustees deposit in this residual trustsuffioient of my asset
to provide my estate with the maximum marital deduction allowed.
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FIFTHs If pursuant to t:hi.s Wi.11 all ~r any part of my estate
shali vest.' in absoluteownets}1i'p ,in' a' mi.ncir or. minors or if. at the
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termina,tion of, any,' trust created by thl's .Will itu of or any part of
the prinoipa1 of such tru~t shall vest in absolute ownership in a
mino,r or mi,no,t's, I author.b:e and empower my executors or trustees,
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as the case may be, in t.heir discretion, to hold the property so
vested in such' mi,nor,r or any part the'r~of, in a separate fund for
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the benefit of such minor, notwithstanding that such proper~y may
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oonsis,t';of investments not authori zed by law for trust funds, and
to invest and reinvest the same, collect the income therefrom and,
during the minority of such minor, to apply so much or all of the
prinoipa1 thereof and So muoh or all of the net incOlne therefrom
and any aocumulated income to the support, eduoation and maintenanoe
of suoh minor, as my executors or trustees shall see flt, and to
aooumulate, irivest and reinvest the balance of said inoome until
suoh minor shall attain the age of twenty-one (21) years, and there-
upon to pay over the then principal, together with any aocumulated
inoome, to such minor, and if such minor shall die before attaining
the age of twenty-one (21) years, then upon the dea'th of such minor,
the then prinoipal together with any aocumulated inoome shall be paid
over to the estate of such minor. The authority conferred upon my
executors and trustees by this paragraph shall be construed only as
a power in trust, and shall not operate to suspend the absolute
ownership of SUcil property by suoh minor or to prevent the absolute
vesting thereof in Buch minor. With respect to any such property which
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shall vest in absolute ownership in a minor or minors, but whi.ch
shall be held by my executors or trustees as authorized in this
paragraph, my executors or trustees shall have all the powers con-
ferred by the other provisions of this Will inoluding, without limi-
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tation, the power to retain, invest and reinvest wi thout being
limited to inyestments authorized by law for trust fundsl and
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they' shall be entit1ep. to commissions at the rates and in the
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manner':'payable to testamon.tary trustees.
SIX'l'HI I hereby give and, grant to my Bxecutor and Trustee
and the successor or successors of them the power and authority
whioh may be exercised by him in either or both' capacities at any
time and from time ,to time; as he shall, in hi's absolute discr'etion
deem advisable:
(a) 'ro hold and retain all or any part of my estate'
or any trust oT.eated hereby in the form in which the same may be
at the time of my decease, or at the time of the receipt thereof
by my Trustee from my Bxecutor, as long as t.hey may deem advisable.
(b) To invest and reinvest in any securities, stocks,
bonds or other property, real or personal, of whatsoever nature,
including without limitatlon, by reason or specification, units
of a common trust fund, whether or not such property constitutes
a lawful investment for trust funds under the laws of the state of
New York.
(c) 'l'o lease, sell, exchange, mortgage, partition
or ~therwise dispose of any property, real or personal, of which
I may die seized or possessed, or which may at any time form part
of my estate or any trust created hereby, at such times and upon
such terms and condi t10ns as they shall deem advisable, and to
make, execute and deliver good and sufficient deeds, leases, mortgages
and' other instruments executing the sarne. Any lease made by my
Executor or Trustee may extend beyond the period fixed by the statute
governing leascs made by fiduciaries and beyond the term of any trust
created hereby.
(d) To borrow money for any purpose in conneotion with
the administration of my estate or any trust created herebYI to execute
promissory notes or other obligations for amounts so borrowed and to
secure the payment of any amounts so borrowed by mortgage or pledge
of any real or personal property of which I may die seized or possessed,
or which may at any time form part of my estate or any trust created
hereby.
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(e) Whenever required or pormitted to divide or distribute
my estate or any trust created her~by, to make such division or .
distribution in kind or in money, or in part kind and in part money.
Any assets distributed in kind shall be valued at their fair market
value as at the date of such distribution.
(f) To exercise all power and authority, including any
di.soretion conferred in this Will, with respect to all aocumulations
of income under this Wi11 and with respect to all property held under
a power in trust in this wi1l.
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" , (9) · To exercise "all power and authority, includfng
any' discretion confer'red in thi's,Wfll;' a~ter' thei termination of any
trust created hereby and until the' same iit fully dhtributad.
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. (h) To exercise' any optlon or erection available
pursuant to any income,' cstate 'or. gift tax provisions of any tax
law of the United States, or any state 'thereo'f, or any other taxing
authority, applicable to me or my estate,' and to make such adjust:"
ments, if any, between or among any :I.ntcrest or j,nterests'in my cstate
as my Executor, in the exercise of absolute discretion may deem
advisable.
(i) To receive insurance proceeds and to administer
and distribute same as principal In at~cordance with the dispositive
prov:\. sions of this par~graph.
SEVENTH l In the event that my wife and I shall both die under
such circumstances that the order of our deaths oannot be established
by proof, then I direct that for the purposes of this Will, my
wife shall be deemed to have survived me.
EIGHTHl I hereby nominate, constitute and appoint my wife,
NANCY BELLE FITZGERALD, to be tho Executrix of thls my Last Will
and Testament. In the event my wife shall predeoease me, or sur-
viving me, shall be unable or unwilling for any reason to qualify
to act, or to continue to aot as such Executrix, then in anyone of
those events only, I hereby nominate, oonstitute and appoint
MARINE MIDLAND BANK-CENTRAL, to be the Alternate Executor of this
my Will. I hereby direct that neither my wife, NANCY BELLE FITZGERALD,
nor MARINE MIDLAND BANK-CENTRAL, shall be required to furnish any
bond or other security in any jurisdiction for the faithful performance
of their'duties as such. In the event my wife, NANCY BELLE FITZGERALD,
shall predecease me or we both die as a result of a common disaster,
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then I hereby nominate, constitute and appoint GEORGE RENAUD of
Ashdon Avenue, Detrolt, Michigan as Testamentary Guardian of such
of our children as are minors at the time of my death.
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NINTH;' I heieoy nominate i conatitute and appoi.nt MARINE MlDJ,1\ND
BANK-CENTRAL, to be the Trustee 'of the 'trust created under the pro-
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visiena of this my,LaSt'Wil1 and Testament. '
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IN WITNESS WHEREOF, I have 11oreunto set my hand and seal this
I So l' day of Ma,oh" in tha yea' On. ThoU' and Nin' lIund,.d and s.yenty-
three.
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WE, 'whose names are hereto subscribed, DO CERTIFY, that on the
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'. day of Maroh. 19 73" WALTER B.. FIT ,OERALD. the T.. ta to" .ub-
scribed his name to this instrument, which consists of eight pages,
in ou, p,...no. and in the p,e..no. of .aoh of u. and at the .... time
in oU' p'.'..oo and h.a,ing. de,'a'Od the aam. to b. hi. La.t Will .nd
TO.tamont. and 'Oguo.tod u. and aach of u. to .igo ou' nam.' th.'.to
as witnesses to the execution thereof, which we hereby do in the
p,..onoo of tho To' t.to'. and of o.oh otho'. on the on" d.tn. and
w~~t~__~:::;~te _oU;~.~;D' our respective Place.s i,?f..re~ideriOe:--'--:-/
. . __'-"'M<".&-r,/2~L4'''L- ,.-.... /., '
u..;"%'r-;/10. . /;-t4."tii<-, .!Yr..iding at /1/4 b Vi ~~
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.COMMONWlllALTH OF PlllNNS'lLV1\NIA
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In the Matter, of,
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lllS~ATt OF WALTER
, IN THill COMMON PLlllAS COURT OF
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B. FITZGERALO/ I CUMBElRLANO COUNTY "PIilNNSYLVANIA
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OEOIilASEO I ORPHAN ',8 COURT OIVISION
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I NO. YEAR
CONSENT
The und~rsigned parties interested in the Trust
oreated br the Last Wi'll and Testament of walter B. Fitzgerald /
hereby ol;lnsent to the foregoing Petition and that CONB Bank/
N.A. be appointed Trustee.
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