HomeMy WebLinkAbout02-09-10 (2)s>iJ REV-1500 EX (os-o5)
PA Department of Revenue
Bureau of Individual Taxes
PO BOX 280801
Harrlsbutg, PA 17128-0601
15056051058
INHERITANCE TAX RETURN
RESIDENT DECEDENT
Boyles
E .. .......... ... .............. .....,.,.... .... .... ..... ..........,...... .,. . ..,... ..... ... .. ..,......,.. .. ~.i
(Ii Applicable} Enter Surviving Spouse's Information Below
OFFICIAL U8E ONLY
County Code Year Fii :Number
21 j ~ 09 U488
Date of Birth
r.,._...._....._......~......_.__.__.__._..._........~. _._.....
13ecember 29, 1928 ~
Decedent's First Name
John
MI
_... .
;M
Spouse's Last Name Suffix Spouse's First Name MI
Spouse's Social S'i~curity Number
j THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
„ __.~..._,.._ ..........::........ ..........:...... I REGISTER OF NNILLS
FILL IN APPROPRIATE OVALS BELOW
£~ 1. OriginaF Return C'J 2. Supplemental Return C~ 3, Remainder Return (d ate of death
prior to 12-13-82)
Q 4. Limtted Estate Q 4e. Future Interest Compromise (date of C7 5. Federal Estate Tax R rturn Required
death after 12-12-82)
Oib 6. Decedent Died Testate CNG 7. Decedent Maintained a Living Trust 8. Total Number of Safe Deposit Boxes
(Attadt Copy of Will} (Attach Copy of Trust)
Q "9: LidgaUon Prooseda Received Q 10, Spousal Poverty Credit (date of death Q 11. Election to tax under sec. 9113(A}
between 12-31-91 and 1-1-95) (Attach Sch. O}
CORRESPONDENT - THiB SECTION MUST BE COMPLETED. ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD B : DIRECTED T0:
Name Daytime Telephone Numbe r..:
I._......_..___..___.. ___._. _...... _.._ ~
Andre __.,,., _.__. __...__. __.. _..__,...__.__.,..,...._____.._____,____.__..___._.. _ _.._.._._._.__.__
w C. Sheefy, Esquire j 717-697-7050C'~ c'~ -c~ ~.=-;
Firm Name (If Applicable) ...,~........ ... ~ :.....:_ _ t'~"1_ ... ` ,
__ _._....~, _..___.._~. , ,_.,._ __.....,Y.-..._..,.......~.... REGISTER 8E di~hr
Andrew C Shealy, Attorney at Law ~ ~ ~ ~ ~ i ~;; ova
First line of address ~ ~ ~ ~ r_ ~~ ~.
127 South Market Street ~~-z-t 3 ~ ~ ~~
__
Second Ime of address :~ -~-i ~ c, ~.
P O. Box 95 ~
Gty or Post bfllce State ZIP Code
Mach W .. _.~.. __ - ~.. __ ... ~ ..
arncsburg ~ ~PA 117055
Correspondent's e-mail address; andrewc.sheely@verizon.net
Under penalties of perjury,'I declare that I have ermined this return, Including accompanying schedules and statements, and to fhe beat of my kno~ vledge and belief,
it is true,. correct and complete. Declaration of preparer other then the personal represeMatfve is based on alt infomratlon of which preparer has a. ry knowledge.
SIGNA RE OF PERSO ESPONSIBLE FOR FILING RETURN rerc
.,~.~~' ~~ ~ ' ~ rec. _ ~a.1n ~ ~aoio
AnnRFSs
Vicki L. Macli, 1120 West Powde~acp Road, Mechanicsburg, PA 17050
OF
pnntart~c -
Andrew C. Shealy, Esquire,
150560_51058
ENTATIVE r1ATF
- d tJ ~ ~l o
Market Street, P.O. Box 95, Mechanicsburg, PA 17 5
PLEASE USE ORIQ~INAL FORM ONLY
Slcle 1
15056051058
J
REV 1500 EX
oa~aem'$ Nam®. Boy 1 e s , John M .
RECAPITULATION
......,... 1.
1. Real estate (ScheduleA).. •••••••••••••'•""""""'~~
2.
2. Stocks and Bonds (Schedule B) ......................................
3. Closely Held Corporation, Partnership or Sole-Proprletorshlp (Schedule C} ..... 3.
4.
4. Mortgages & Notes Receivable (Schedule D) ............................ .
5. ,Cash, Bank Deposits & Miscellaneous Personal Property {Schedule E) .. , ..... 5•
6. Jointly Owned Property {Schedule F) Ca Separate Billing Requested ....... 8.
7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property 7
(Schedule G) Q Separate Billing Requested....... .
a TnMt r3aess Asfets (total Lines 1-7) .................................... 8.
$234,966,94;
,......._,~..,.-..-...._. ~.,...z
-. & Administrative Costs (Schedule FI) .. . .................. 9.
9. Funeral Expenses
10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule i) • • • • • • • • • • • • • • • . 10.
. 11.
11. Total Oeductlons (total Lines 9 & 10) ................................ .
-~ . •
......................12.
12. Net Value of Estate (Line 8 minus Line 11) ....... .
13. Chartteble and Governmental Bequests/Sec 9113 Trusts for which . 13.
an election to tax has not bean made (Schedule J) ......... , . • •
,d u.~ Vwtua Subisct to Taos (LIne,12 minus Line 13) . ....................... 14.
$;;,847,604.86
TAX GOMPUTA'fiION • 8EE INSTRUCTIONS FOR APPLICABLE RATES
15. Amount of Lfne 14 taxable
at the spousal tax rate, or
transfers undue' sec. 9116 15.
(a}(1.2) X .0.
16. Amount of Line 14 •°~eble
at lineal rate X .045 16.
17. Amount, of Line 14 taxable 1 ~
at sibling rata X .12
18. Amount of Line 14 taxable 18.
at cotlaterat rate X .15
.. ........ 19.
19.
.
TAX DUE....... ................... .................
., ~, .
20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT
DecedenYa Social Seci irlty Number
... - .r
~__...___.._ 115 ~ 1.
559-32- ,~
15056052059
$;?,617,001.94?
s:-sss,~sa.ao
,,......_ .».,t
.__ _ $11,788.68`
8,756.86~i
~_ `s18,s4s.s4~
$;'.,847,604.86'
X128,142.21;
128,142.21
t"":)
' Side 2 1505605205~~
15056052059
LuMMUNWEALTH OF PENNSYLVANIA
DEPARTMENT OF REVENUE
BUAEAU OF INDIVIDUAL TAXES
DEAT. 280801
HAAAISBURG, PA 17128.0801
RECEIVED FROM:
RE V-1182 EX(11-981
NO. CD O11527
PENNSYLVANIA
INHERITANCE AND ESTATE TAX
OFFICIAL RECEIPT
MACK VICKI L
1 120 WEST POWDERHORN ROAD
MECHANICSBURG, PA 17050
ACN
ASSESSMENT
CONTROL
NUMBER
fold
AMOUNT
000.00
ESTATE INFORMATION: SSN: 559-32-1153
FILE NUMBER: 2109-0488
DECEDENT NAME: BOYLES JOHN M
DATE OF PAYMENT: 07/24/2009
POSTMARK DATE: 07/24/2009
COUNTY: CUMBERLAND
DATE OF DEATH.: 05/ 16/2009
TOTAL AMOUNT PAID: 51 15,+)00.00
REMARKS: RECEIPT TO ATTY
CHECK#112
INITIALS: AJW
sEAL RECEIVED BY: GLENDA EARNER STRASBAUGH
REGISTER OF WILLS
7AXPAYEA
REV-1504 EX+ (6-98)
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCNEDt~LE C
CLOSELY HELD CORPORATION,
PARTNERSHIP OR
SOLE-PROPRIETORSHIP
CQTATC AC
TART John M. Boyles, also known as John Morgan Boyles
rn r w~uoro
21-09-0488
Schedule C-1 or C-2 (including all supporting information) must be attached for each closely-held corporation/partnership interest of the decedent, other than a
sole-proprietorship. See instructions for the supporting information to be submitted for sole-proprietorships.
ITEM NUMBER VALUE AT DATE
Decedent was a partner in the Bay Area Investment II general partnership. The decedent
maintained a 119 ownership interest as of Mav 16, 2009. Attached are copies of the portfolio
valuation and a statement confirms decedent's interest and valuation of the partnership investment
ar.~.rntnt. nrenared by the investment executive. Richard N. Bnn.
Partnership interest (119) in the Bay Are Investment II (club) I $14,181.52
TOTAL (Also enter on line 3, Recapitulation) I $ 14,181.52
(If more space is needed, insert additional sheets of the same size)
Estate Valuation HAY AREA INVESTlSdNT II
Date of Death: 05/16/2009 BAY ABI;A INVSB'B9BNS II
Valuation Data: 05/16/2009 Acconn~:: BDO1 77976635
Processing Date: 05/20/2009 Report Typi:: Date of Death
Nund,ar o:: Securities: 14
File ID: HAY ARS1l INY VALDAT::ON AJ01 5-20-09
shares Security lsaan and/or Div and Int Security
or Par Description High/Ask Low/Bid Adjustments Accrnels Value
1} 800 ABROP09TALS (007865109)
COM
Naw York Stock Exchange
OS11S/2009 32.b5000 30.81000 H/L
05/18/2009 32.9?000 31.26400 H/L
31.797500 25,438.00
2} 2000 ALLIS CHAL14SR8 &.~1SRGY INC (019645506)
CDM PAA $.O1Nif
Naw York Stock Sxchange
DS/15/2009 3.49000 3,06000 N/L
05/18/2009 3.98000 3.30000 H/L
3.332500 6,6b5.00
3) 200 AHSRICAN INTL 6ROOP INC {026874107)
COM.
New York Stock Exchange
05/15/2009 1.93000 1.66000 H/L
05/18/2009 1.850D0 1.7600D H/L
1.800000 360.00
4- 26D ANGEN INC {031162100)
COM
NASDAQ - Industrial
05/15/2D09 48.56000 97.50000 H/L
05/18/2009 99.46000 97.84000 H/L
48.340000 9,668.00
5} 250 AOTOMATIC D~ITA PROCESSING INC {053015103)
COM
~~11ew York Stack Bxcheage
U5/15/2009 36.95000 35.7299D H/L
05/16/2009 36.9DDOD 35.65000 H/L
36.D5?975 9,014.37
6) 1300 CSNEX SAB DS CV {151290889)
seoN ADR NEW
Naw York Stock Exchange
D5/15/2009 9.08000 8.69000 H/L
05/18/2009. 9.55000 8.99000 H/L
9.065000 11,789.50
7} 232 CONOCAPHILLIPB {208250104)
0019
Naw York Stock 8.xchange
05/15/2009 49.82000 93.58000 H/L
05118/2009 45.93000 94.55D00 A/L
44.720000 10,375.04
61 91 SOG RES INC (2687SPiD1)
CON1
New Xork stock Exchange
05/15/2009 71.81000 b7.50000 H/L
OS/18/2D09 71.97000 69.15000 H/L
70.1075D0 2,674.41
9} 150 FEDEX CORD )31928X106}
0014
Naw York Stock Exchange
05/15/2009 . 54.59D00 52.58000 H/L
05/18/2009 59.21000 52.76000 H/L
53.535000 8,030.25
10) "700 GENERAL ELECTRIC CO (369604103)
GOM
Naw Xork Stook Exchange
D5/IS/2009 13.26000 12.70000 H/L
05/18/2009 13.50000 13.08000 H/L
13.135000 9,194.50
Page 1
This report waa produced. with SatateVal, n product of Setste Valuations ~ Pricing systems, Inc. If yw h;va questions,
please contact SVP Systems at (818} 313-6300 or waw.evpaya.cam. {Revision 7.1.0}
Date of Death: 05/16/2009 HAy A~;A INVr9Tls>~T g
Valuation Date: D5/16/2009 Acconn4,: FA01 779?6635
Processing Date: 05/20/2009 Report T Date of Death
yp':
Nm~nr o:' Securities: 14
EYle ID: SAY ARQA IIiV VALgAT::O1Q AJOl 5•-2Q-09
Shares 9acusity Mean and/or Div and Int 3ecnrity
or Par Description High/Ask Loa/Bid Adjustments Accraals Value
11) 300 HOME DRR01' ID1C E437076102)
COM
New Xork Stock Excha~ige
05/15/2009 24.91500 24.22000 H/L
05/16/2009 26.15000 25.36000 A/L
25.161250 7,546.38
12) 900 LOVES COS INC (548661107)
0031
linty York Stock &xChangn
05/15/2009 19.11000 18.30000 H/L
05/18/2009 20.fi5000 19.18500 H/I,
19.311250 7,724.50
13) 600 PFIZBR INC {717081103)
COM,
" Nnw Xork Stock Exchange
05/15/2009 15.29000 19.69000 H/L
05/18/2009 15.23000 14.98000 H/L
15.097500 9,058.50
biv: 0.16 Ex: 05/06/2009 Rec: 05/08/2009 Pay: 06/02/2009 96.)0
19) 300 SYSCO CORP (871829107}
COM
New Xork Stock Tnxchange
05/15/2008 23.16000 22.70000 H/L
05/18/2009 23.29000 22.65000 H/L
~~- 22.950000 b,885.00
Total Value: _
$124,620.45
Total Accrual: $96.D0
Total: $124,716.45
Portfolio Endnotes
CASH HALAI9CE 05/16/2009
$2,917.21
Page 2
?his report was produced with EatateVal, a product oP Estate Valuations i Pricing systenuz, Inc. If you have questions,
please contact SvP Systerae at (618) 313-6300 or www.evpsys.cam. (Revision T.1.0)
REV-1505 EX+ (6-98)
SCHEpt~LE E
COMMONWEALTH OF PENNSYLVANIA CASH BANK DEPOSITS 8c MISC.
INHERITANCE TAX RETURN PERSONAL PROPERTY
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
John M. Boyles, also known as John Morgan Boyles 21-09-0488
Include the proceeds of litigation and the date the proceeds were received by the estate.
All property jointly-owned with right of survivorship must be disclosed on Schedule F.
ITEM
NUMBER
DESCRIPTION VALUE AT DATE
OF DEATH
1. M&T Bank Checking -acct. #9833888358, principal and accumulated interest $ 3,555.77
2. M&T Bank Checking -acct. #9846828474, principal and accumulated interest $ 31, 799.44
3. M&T Bank Savings -acct. #15004217001558, principal and accumulated interest $ 50,541.83
4. M&T Bank Certificate of Deposit -acct. #31003908151283, principal and accumulated interest $ 136,135.61
5. M&T Bank Account - principal and accumulated interest $ 10,485.89
6. Decedent's personal property -Decedent was a resident of Bent Creek Adult community and had little $ 1 500.00
Dersonal orooertv '
7. Bridges at Bent Creek refund $ 294.41
8. Chevron insurance refund
9. BoA/SEC settlement
10. 2008 Income Tax refund
11. Capital Area Health Association refund
$ 210.02
$ 31.32
$ 406.95
$ 5.70
TOTAL (Also enter on line 5, Recapitulation) $ I 234,966.94
(If more space is needed, insert additional sheets of the same size)
p ~
499 Mitchell Road, Millsboro, DE 19966 Mail Code DE-MB-12
May 29, 2009
Andrew Sheely
Attorney at Law
127 S. Market St.
Mechanicsburg, PA 17050
Re: _Estate oP; John 11~ Bovies
-- Account ,Number; 9833888358. 9846828474 150042170015~~"81~
3100390815.1283
- Date of Death: ]I~a~ 16 2009
Dear Sir or Madam:
Per a memo from Marcie McCardell at MBsT Bank, dated May 27, 2009, requesting at th ~ time of
death, the-balance on the above referenced account(s) was:
1.. Type ofAcarunt Checking Account
Account Number 9833888358
Ownership {Names o~ John MBoyles*
~mn9' Date 6/30/04
Balance on Date of Death ,$ 3, 555.69
Accrued. Interest $ 0.08
Total -_ ___.-.._..--- _------- ------- -------- -
$ 3,555.77 - --- ----------------------------...------- -
2. Type of Acacount Checking Account
Account Number _ __
9846828474 ~ -" _
Ownership (Names ofj John MBoyles*
Opening Date 12/3/07
Balance. on Date of Death $ 31, 798. b7
Accrued. Interest $ p, 77
Total - ..$ 31, 799 44 ..... ......._
c;-
3• ~JPe a f Acoounx Savings Account
Account Number 1 500421 7001 558
Ownership (Names ofi John MBoyles*
Openir,.g Date 9/3/08 Closed 5/27/09
Balance on Date of Death $ 50, 537.40
__ Accrued Interest
$ 4.43 _.. _
Total ...._.
$ 50, 541.83............_ __ ..... ...
4. Type of Account Certificate of Deposit
Account Number 31003908151283
Ownership (Names o~j John MBoyles*
~~n9' Date 9/3/08 Closed 5/27/09
Balance on Date of Death $136, 071.85
Accreted Interest $ 63.76
Total ...--.._...---__..... --------~----..-._._-...--......----_-...___----..----.._ _-..-.__......__.__...
$136,135.61
For further account informatiaa, regarding ownership, closures and/or reiznbnraE went of
funds, etc., please contact the Carltsle Park OfRce # T1T-?96-1?10.
MBETBank
DOD Unit /Adjustment Services
~u~cKen uaia.garm - axfa Bonn tsoyies ex ai
Balance Sheet:1
As of 5/1 B/09
Accounts
Assets
Cash and Bank Accounts
dba John Boyles et ai
Total Cash and Bank Accounts
Total Assets
Liabilities do Equity
Liabilities
Equity
Total Liabilities & Equity
5/1 fi/09
Balance
10,485.89
10,4$S.$9
10,485.89
0.00
10,485.89
10,485.89
~`
-----~
Rev-tsto Ex+ (t'>BE3}
' SCE1EpYLE ~i
COMMONWEALTH OF PENNSYLVANIA INTER-VM05 'rRAWSFER5 &
INHERITAIlCETAXRETURN (y~l$C~ Ni~'pRVDATE PROPERTY
RE31DE VT DECEDENT
ESTATE OF
John M. Boyles, also known as John Morgan Boyles Pa e 1 FILE NUMBER
g 21-09-0488
_ This scM duce must be completed and filed if the answer to any of questions 1 through 4 on the reverse side of the REV-1500 COVER SHEET is yes.
ITEM DESCRIPTION OF PROPERTY
NUMBE NV(].UDE ~ N'~ of THE TRNISFEREE, THEIR RELATIONSHP To °ECEOENTAND DATE OF DEATH 96 OF DECD'S EXCLUSION . TAXABLE
THE °ATE OF TRANSFER, ATTACH A C°PY OF THE DEED FOR REAL ESTATE.
Decedent c ied on May 16, 2009, At the time of his death,, Decedent was sole vALUE of AssET INTEREST pFAPPL~CAS~ vALUE
trustee of the Boyles Family Living Trust,
Charles Schwab investment acct. #17684374 -14,874.65 shares Family fund $14,874.65 100%
$14,874.65
Charles Sct wab investment acct. #17684374 - 3,024.823 shares Schwab
investment and $79,068.87 100%
$79,068.87
G. Wedbust Morgan Securities -Acct. #AJ01 80269380 1,672,965.36 °
.100 /0
1,672,965.36
G. Wedbus!• Morgan Securities -Cash Acct, #AJ01 80269380 $6,419.90 °
100 /o
$6,419.90
Treasury Bill ~, Legacy Treasury Direct -Acct. #4800.370-5146 {no interest) 585,000.OQ 100%
$585,000.00
7.Rowe Pricr~ IRA, John M. Boyles -Capitol Appreciation Fund 700237767-9,
1,280.092 stares 19,278.19 0
100 /o
$19,278.19
T.Rowe Pric.~ IRA, John M. Boyles - International Stock Fund 101535705-1,
1,445.398 shares .$13,355,48 0
100 /o
$13,355.48
T.Rowe Price IRA, John M. Boyles -Prime Reserve Fund 200447175-6,
7,965.78 shares $7,965.78 0
100 /o
$7,965.78
Charles Schu~ab IRA Securities acct, #17684353 -cash account at date of
death $19,090,87 100%
$19,090.87
Charles Schv~ab 1RA Securities acct. #17684353 - 212 shares Iberdrola SA $ 6,77126 100%
$ 6,771.28
Charles SchH ab IRA Securities acct. #17684353 - 1,418,689 shares
Evergreen eq aity income fund $19, 365.10. 100%
$19, 365.10
Charles Schwab IRA Securities acct. #17684353 -110,846.46 shares Family
fund $110,846.46 100%
$110,846,46
Vicki Mack, dr ughter, 08123/108 $1,500,00 100%
$1,5oo.oa
Vicki Mack, dr ughter, 081231108 $10,500 1.00%
$10,500
Joanne Kicker ,daughter, 12107/08 $12,000- 100%
$12,000
'vonne Kicker ,granddaughter, 12/16/08 $400,00 100%
$400,00
aymond Kick sn, grandson, 12116/08 $400.00 100%
$400:00
TQTAL (Also enter on line 7 Recapifulation) $
(If more space is needed, insert additional sheets of the same size}
HtV-1510 EX+ (6-98)
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEp111LE 6
INTER-VIVOS TRANSFERS 8~
MISC. NON-PROBATE PROPERTY
ESTATE OF FILE NUMBER
John M. Boyles, also known as John Morgan Boyles Page 2 21-09-0488
This schedule must be completed and filed if the answer to any of questions 1 through 4 on the reverse side of the REV-1500 COVER SHEET is yes.
ITEM
NUMBER DESCRIPTION OF PROPERTY
INCLUDE THE NAME OF THE TRIWSFEREE, THEIR RELATIONSHIP TO DECEDENTAND
THE DATE OF TRANSFER. ATTACH A COPY OF THE DEED FOR REAL ESTATE.
DATE OF DEATH
VALUE OF ASSET
% OF DECD'S
INTEREST
EXCLUSION
IF APPLICABLE
TAXABLE
VALUE
18. Christopher Mack, grandson, 12116/08 $400.00 100% $400.(
19. Mark Kicken, grandson, 12/25/08 $400.00 100% $400.(
20. Linden Mack, son-in-law, 12/25/08 $400.00 100% $400.(
21. Yvonne Kicken, granddaughter, 02/27/09 $13,000.00 100% $13,000.(
22. Raymond Kicken, grandson, 02127/09 $13,000.00 100% $13,000.(
23. Christopher Mack, grandson, 02127/09 $13,000.00 100% $3,000.00 $10,000.(
TOTAL (Also enter on line 7 Recapitulation) S I 2,617,001.94
(If more space is needed, insert additional sheets of the same size)
REV-7.51.1 EX+ (20-D9)
~ pennsylvania SCHEDULE H
DEPARTMENT OF REVENUE FUNERAL EXPENSES AND
INMERRANCETAxRETURN ADMINISTRATIVE COSTS
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
John M. Boyles, also known as John Morgan Boyles 21-09-0488
Decedent's debts must be reported On Schedule I, ^
ITEM
NUMBER DESCRIPTION
A• FUNERAL EXPENSES:
1' Parthemore Funeral Home -balance due
2• Wilson and Kratzer Mortuaries
3• Adachi Florfst
a- :Party time Catering -funeral luncheon
B. ADMINISTRATIVE COSTS;
AMOUNT
$ 665.37
$3,219.88
$ 418.43
$ 578.50
1. Personal Representative Commissions: 0.00
Name{s) of Personal Representative(s) ~dci L. Mack
street Address 1120 West Powderhor'n Road
city Mechanicsburg state PA zIP 17050
Year(s) Commission Pald: _
Z• ACtorneyFees: Andrew C. Sheel , Es uire, as $1,860.00
y q per agreement
3. Family Exemption; (If decedent's address is not the same as claimant's, attach explanation.)
Claimant
Street Address
City _ _ State ZIP
Relationship of Claimant to Decedent
4. Probate Fees: $ 360.00
5• Accountant Fees: gOremari & Babb, CPA-preparation of federal ~ 700.00
personal and Trust tax return
5, Tax Return Preparer Fees;
~• Reimbursements to Trustees for travel expenses to California - t.odging, airline $ 3,271.50
8• Filing fee for inheritance tax return $ 15.00
9• Estimate to conclude EstatelTrust administration $ 700.00
TOTAL (Also enter on Line 9, Recapitulation) $ 11 ~ 788.6E
If more space is needed, use additional sheets of paper of the same size.
REV-1512 EX+ (12-08)
~ Pennsylvania SCHEDULE I
DEPARTMENT OF REVENUE DEBTS OF DECEDENT
INHERITANCE TAX RETURN MORTGAGE LIABILITIES &~LIENS
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
~~T John M. Boyles, also known as John Morgan Boyles 21-09-0488
Report debts incurred by the decedent prior to death that remained unpaid at the date of death, including unreimbursed medical expenses.
ITEM ~ ~ VALUE AT DATE
1. Mobile Xray -final bill $ 50.07
2. Alert Pharmacy -final pharmacy bill $ 496.90
3. Apria -oxygen, final bill $ 47.45
4. Rosa Lucidon -personal nursing services, final bill $3,120.00
5. Evans Appraisal Service, Inc. -final bill. Decedent maintained a partnership interest in a 20 acre
orchard located at' one parcel north of Hanlon Road. between Holland Avenue and Goodspeed Street.
Durham, California. $2,500.00
6. Midway Title -title certification of orchard property $ 250.00
7. Quantum Imaging -final bill $ 2.44
8. Bidwell Title & Escrow $ 290.00
TOTAL (Also enter on Line 10, Recapitulation) I $ 6,756.86
If more space is needed, insert additional sheets of the same size.
- ~ - ~ ' -l
REV-1513 EX+ (g-p0)
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
SCHEDULE J
BENEFICIARIES
ESTATE OF FILE NUMBER
John M. Boyles, also known as John Morgan Boyles 21-09-0488
NUMBER
NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY RELATIONSHIP TO DECEDENT
Do Not Llst Trustee(s) AMOUNT OR SHARE
OF ESTATE
I TAXABLE DISTRIBUTIONS [include outright spousal distributions, and transfers under
Sec. 9116 (a) (1.2)]
1. Vicki L. Mack, 1120 West Powderhom Road, Mechanicsburg, PA 17050 Daughter 50% rest, residue,
rPmainrlPr of Fctata
2. Joanne E. Kicken, 271 West Mason Avenue, Buckley, WA 98321 Daughter 50% rest, residue,
remainder of F_. state
II
ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18, AS APPROPRIATE, ON REV-1500 COVER SHEET
NON-TAXABLE DISTRIBUTIONS:
A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE
B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS
TOTAL OF PART II -ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET I S
(If more space is needed, insert additional sheets of the same size)
LAST WxLL ANI~ TES'T'A]',VxEN'T
(JF
JOHN M, 130~'ZES
I, JOHN ~. BO`YLBS, of 75 Creek Bank Drive,
. ,
iVlecha~~icsburg, (Silver Spxing Township}, Cuanberland. County,
Peiznsv.vania, .make, publish and declare this as and for my Last Will, and
Test.at~~ °nt, hereby revoking all other Wills and Codicils heretofore ~xtade
by me,
F~R.S'~: I direct that al.l inheritance, estate, transfer, succession
and deg tl1 L•axes, as well as my just debts and funeral expeztses, O~ a~l'V kixld
whatsoever, which xxtay be payable by reason of xny death, shall be paid
oi~t of the principal of xny estate as the sanxe can conveniently be done.
~~.Q~.~; I give, devise and bequeath all the zest, residue
and rest winder of xny estate of whatever nature and wherever sit, gate,
includix.g any property over which 1 hold power of appointaxtent ~~nd
togethe;• with. any insuarance policies thereon, to 1"HF. BtJXY.ES rA.M~LY
L~VII~J(~ TRUST, established June 20, l 9y 1, as amended by .Acldenduxn.
~$~: Xr- addition to all powers granted to them kav law and
C'~ by ot.he ~ pror~~isions of this Will, I give the fidt~.ciaries acting hereuxider the
followir g powers, applicable to all property, exercisable without court
approval and effective until actual distribution of all property;
(.,P-.} To sell at public. or private sale, or to lease, for arty period
of Time, any real oz personal properfi.y and to give options for sales, ex-
changes or Xeases, for such prices and upon such terms {including credit,
with or without security) or conditions as are deeax~ed proper. This
include s the power to give legally sufficient. instruments -far transfer of the
propert v anc.l t.o receive the proceeds of any disposition.
(B) To partition, subdivide, or improve real estate and to
enter i~~to agzeernents concerning the partition, subdivision, iurnproveRrlent;
zoning or management of real estate and to irxtpose or extinguish restricw
bons o~~ real estate.
(C) 'To coznpronYise any claim or controversy an,d to abandon
any property vvhicli is of little or no valrxe.
{D) To invest in all forms of property, including stocks.,
conirxto n trust :funds and mortgage investment fYrnds, without. restriction to
investa~~ents authorized far k'ennsylvania fiduciaries, as are deenxed proper,
without regard to any principle of diversification, risk or productivity.
(E) To exercise any option, right or prirrilege granted it1
insuran~~e policies or in ocher investments.
(F} To exercise any election or prirrilege given by thF~ Federal
~ and oth°r tax: laws, including, but not necessarily being ifxxtited to, personal
" income, gift and estate or inheritance tax laws.
(CJ) To make distributions to ialy herein mined benrCxciaries
in rash car in kind or paxtly ix~. each.
(F~C) To borrow money from themselves or others iz~ order to
pav deb~:s, taxes, or estate or trust administration expenses, to pxotect. or
2
impro~~e any property held under rnrr will, and for investment px,rposes.:,
(l) 'I'o select a zx-ode of payxxzent under any qualified ret.ire~
rxxent ~ lan (pension plan, profit shaxxng plan, enxployee stock o~~rxership
plan, or any other type of qualified plan) to the extent provided for by the
plan. oz the law.
~~..~B,.'~: I nominate and appoint, zny daughter, V~IC~tZ L.
MACI<., of iViechan~icsburg, ~'enxxsylvaz~.ia, Fxecut.rix, of this, my Last Wzlx
and. Te ~tainn,ent, In the event of the death, resignation or inability to serve
for anv reason whatsoever of V'~C~ ~.. SACK, Y noxnin~te and appoint
nxv daughter, jt7.A1VNE E. KICZ~N, of Buckley, Washington, Executrix,
of this, zny Last Will and Testament.. ~ direct that m.y Executrix and her
success~~r shall not be required to post security or a bond fox the
perfonr.a~nce of their duties in any jurisdiction.
I~rd WITNESS WI-IEI~.EOF, I l~xave hereunto set my hand Y~nd .seal to
this, rxx~~ Last WiII and Testament, this ~'~ day of C)ctober, 20Q4.
~~ ~
(~~ EAL )
Jo N Nx. Br.~''~.,ES
Signed, sealed, published and declared by the ~bor~e-nanx~,d Testator
as and for l~tis Last Will and Testan~enr. in our presence, who, at kris
regrxest, in his presence and in the presence of each atl~.er, have l~~ereunto
subscri red our names as attesting witnesses.
....
J4 !~7~7 a ~'~~ /~P~~O ~o~
A.ddres
~ ~ -
Narxke
~ ' ~ ~ ~, ..
iVanne
4
DECLARATION OF TRUST
BOYLES FAMILY LIVING TRUST
~'OHN M. BOYLES and NADYA V. BOYLES, togethex cal:Led the
"Trustee," declare that JOHN M. H(JYLES and NADYA V. ]30YL8S,
called the "Settlors,« and sometimes referred to as "Husband"
and "Wife," have transferred and delivered to the '.'rustee
without consideration the property described in Schedules A
(community property) and B (Husband s separate property)
attached hereto.
ARTICLE T
TRUST ESTATE
Property subject to this instrument is referr®d to as the
"trust estate" and shall be held, administered, and distY~ibuted
in accordance with this instrument, Any community p=~operty
transferred to the trust shall remain community propert~~ after
its•..transfer:.
I.t is the. Settlora ~ intention that the Trustee shn].l have
na more extensive power aver any community property tranef®rred
to the ,rust estate than either of the Settlors would have had
under California Civil Code Sections 5125 and 5127 ha~i this
trust not bean created, and this instrument ahal], be so
interpret®d to achieve this intention. This limitation shall
terminate on the death of either Settlor.
ARTTCL~ Tr
- - DISTRIBUTION OF INCOIK& AND PRINCIPAL
~ •-1 ~~acibution of rinciA
~,;_Q.~:_-.Settlors . --~---- ~~~ ~cot°,Q. ~urinct
-2•i•1 Community Property. During the joint
lifetimes .of the Settlors, the Trustee shall pay to both S~~ouses
fpr the account of the community, or shall apply for the
Settlor',~ benefit, the net income of the community estF.te in
.,quarter-annual or more frequent installments.
Tf the Trustee considers the net :.ncome
1
insufficient, the Trustee shall pap to both Spouses :Eor the
account of the community, or apply for the Settlors' benefit, as
much of the principal of the community estate as is necessary in
-~ the Trustee's discretion for the Settlors' proper health,
support, maintenance, comfort and welfar®.
The Spouse receiving payments shall have
the same duty to use community income and principal received
under this. instrument for the benefit of the Settlors as he or
she has with respect to any ether community property,
2.1.2 ~ Separate Property, During the joint
lifetimes of the Settlors, the Trustee shall pay to or apply for
the benefit of the Settlor whose separate property was
transferred to the trust the net income of that Settlor's
separate estate in quarter-annual or more frequent. installments.
Similarly, i.f the Trustee considers the net income of the
sela,arate_,property insufficient, the Trustee shall pay to or
apply far .the <benefit of the Settlor whose sseparate property was
transferred to the trust, as much of the principal c~f that
Settlors separate estate as is necessary in the Trustee's
discretion for the proper health, support, maintenance, ~;omfort
and wel-fare of that Settlor and his or her spouse.
2_•1,.3 incaoacit ed Settlor.
~._ If at an~- time,
either in the Trustee's discretion or ae certified in writing by
two licensed physicians, either Spouse has become physic~~lly or
mentally incapacitat®d, whether or not a court of cozap®tent
jurisdiction has declared him or her incompetent, mentally ill,
or,in need of a conservator, the Trustee shall pay to thta other
6pouae or apply for the benefit of either Settlor, fir~~t from
the commaunity ®state, and then equally from the .separate E:states
Q~ , both< ~ Settlors, the amounts of net income .and principal
nstaeasary,` n. the, Trustee's discretion, for the proper health,
BuFP4?c't, and. maintenance of bath Settlors, until the
i~cdpacitated Settlor, either in the Trustee's diacretioii or as
c~x~i€ied by two licensed physicians, is again abl® to manage
hi$. or her own affair, or until the earlier d®ath of either
Settlor, -The _nonincapacitated Spouse may also withdraw from
time to tints ~ accuzaulated trust income and principal ~~f the
community property, Income and principal from community
property so paid or withdrawn shall be held and adminiatE•red as
community property by the nonincapacitated Spouse, Any income
3.n.,exce~s of the amounts applied for the benefit of the Settlors
"shall be accumulated and added to principal of the communnity or
the sepaxate,astate, as the case may be.
2,l•~ Paymenta tc,~ Others. The Settlors acting
jointly., may at any time direct the Trustee in writing •:o pny
singl® sums or periodic payments out of the community estate to
an~_Qther person(~sj or organization(s),
2
The Settlor who has contributed s~aparate
property may direct th® Trustee in writing to pay single sums or
periodic payments out of that separate property to am- other
~~ person(s} or organization(s).
Notwithstanding anything in this
inatrument,to th-e contrary, this power may be exercised by the
S®ttlor's.guardian or conservator to the extent of paym~3nts to
one or more persons or organizations that qualify for the annual
federal gift tax exclusion,
2.2 Divisio,,,~,, of Trutt Fatale on Death of a Sett lob.
2 , 2.1 ~ece~aed ~,pou$e and S~,~~.~yina g~++s;~, The
first Settlor. to die shall be called the "Deceas®d Spouse" and
the living Settlor shall be called the "Surviving Spouse."
.:
2.2.2 D~vis~o~. of Trus Estate . On they death
a~;,~•the Deceased . Spouse, the Trustee shall divide the trust
estate, including any additions made to the trust by re~~son of
his or her. death, such as from the decedent's Will cr life
insurance policies on the decedent's life, into ttao s+ap4rate
trusts, designated the "Survivor's Trust," and the "~3y-Pass
Trust."
whenever the Trustee is directed i.o make
a distribution of trust assets or a division of trust assets
into separate. trusts or shares on the death of a 8ettlc-r, the
Trustee may, in the Trustee's discretion, defer ouch
distribut~,on or- division until six months after the DE~ceased
Spous®~s.death.
J+Then the Trustee defers distribution or
dtvis;ion of .. .the trust assets, the def®rred division or
diatribution.s;hal~l be made as if it had taken place at the timo
p~ascribed in ahis instrument in the absence of this part~graph,
a~ad.~aJ:l rights ..;given to the beneficiaries of such trust assets
under other provisions of this instrument shall be deemed to
l~mve accrued and vested as of such prescribed time.
2.2.3 Surv Yor's ~,~,, The Survivor's Trust
shall be a separate-trust and shall consist of the Bwwivinq
Spouse's interest in the Settlora' community. estate and the
Surviv~fnq Spouse's separate estate, if any, included in o~~ added
to the gust estate in any manner, including any undistributed
pr accrued income on it, plus the minimum dollar amount of the
Deceased Spouse's ,interest in the Settlora' community este~te and
the'Deceased Spouse's separate estat®, if any, included in or
~d~ed,to the trust estate in any manner, necessary as a aarital
ct~ductian.ta.eliminate (or to reduce to the extent possible) any
~federa>;,estafie tax at the death of the Deceased Spouse, taking
account of .-{i~ available deductions and credits-and (2) the net
/. ~ ~
value o,f all other property included in the Deceased Spouse's
grass estate which passes or has passed to or for the Su~~viving
Spouse, under this instrument or otherwise, and which qu,slifies
'- four the federal estate tax marital deduction. (In dete:_naininq
the amount of this gift, final federal estate tax value,a shall
control.; and account shall not be taken of any item not
deductible for estate tax purposes because clammed far income
tax purposes, nor shall account be taken of any credit :.or (a)
death taxes paid in the estate of one whose death occur„ after
the death of the Deceased Spouse or for (b) any state de,sth tax
unless a.t least some. such tax would be payable to thE: state
regardless of the federal credit.) This bequest as be
satisfied in cash or in kind, ar partly in each, only with
assets eligible for federal estate tax marital deduction to be
valued at the .date or dates they are distributed to the
Surv~,vor's Trust; assets eligible for any foreign death tax
credit. sha11 be.uaed only if .other property of the Deceased
Spouses estate is insufficient to fund this trust.
It is the Deceased Spouse's intent that
assets qualifying for the federal estate tax marital deduction
shall be tranaferr®d pursuant to thi,e paragraph only to the
extent that. such transfer would effect a reduction in the
federal estate tax otherwise payable by the Deceased S;wuse's
®state.
~.2.~ By-Pass Trust. The 8y-Pass Trust
~h,al.l, consist of .the balance of the trust estate repree~®nting
_, 1=he balance .Qf .the Deceased Spouse • s interest in the S®t:tlors'
comaaunity estate and the balance of the Dec®ased S~-ous®'s
s~arate ®state l:ncluded in or added to the trust estate but
attex' allocation of such property to the Survivor's Trust.
;~,
~ . ~ , ~ Disclaimer. ,Any property or ~~ortion
thereof which is disclaimed by the Surviving Spouse or ire which
h~ or she disclaims all of his or her interests shall Fass to
t;he Disclammer Receptacle Trust to be adnniniste~red and
dl,stribut®d in accordance with the provisions applicable t:o that
txt~at; except that if he or she disclaims any interest in all or
any pox'tion of the Disclaimer Receptacle Trust, that trust or
portion shall be administered and distributed as if that
disclaimed interest had bean omitted from the original trust
terms, .unless he or she disclaims all of his or h®r infi®rests
in; that-trust ,or ..,portion, in which event that trust or portion
shall, be adm~.nistered and distributed as if the Surviving Spouse
had,pr~decessed-.the Deceased spouse.
2.3 p~stribution n PrinciAal and rnn
~i rvlvinci S'DOtlaa OIIIe o»r g~if
----~._.
2.3 • x menses of Deceased S i s On the death
of the .Deceased Spouse, the Trustee, in the Trustee's
4
discret_i.on, may pay out of the trust estat® the estate and
inheritance. taxes, including interest 'and pen~.lties,
attributable to the trust estate because of the DECeaeed
``" Spouse': death, the last illness and funeral expenses of the
Deceased Spouse, attorneys' Ease, and other coats incurred in
administering the Deceased Spouse's probate estate.
Any payments of estate or inheritance
taxes shall be charged to the Hy-Pass Trust and the Disclaimer
Receptacle Trust in proportion to the property transferred to
each such trust without apportionment or charge against any
benefic:~,ary of the trust estate.
Payments for last illness, funer~-1 and
other administration costs shall be charged to the By-Peet; Trust
and the Disclaimer Receptacle Trust in such propoz~tions;
prova.dec~, -however, that administration costs allocable to the
Surviving Spouse's share of the community property adminjetered
i.n the Deceased Spouse's estate Shall be charged i:o the
Survivor's Trust.
Neither Husband nor Wife shall yet as
Trustee under this Section 2.3.1, but their successor Txustees
in the order .stated shall act as special Trustee for. making
decisions under this Section 2.3.1,
2'3.2 Punts to Survivin ~
~~~-r's ~°'*. From the time of death of ~thceased
_. Spouse, the Trustee shall pay to or apply for the benefit- of the
Surv.~ving Spouse the net income o:E the Survivor's Tr~ist in
quarter--annus.i or more frequent installments.
inauffic:tent, the Trustee shall ralso®pay to dorsapply f ~rcthe
benefit of th® Surviv~.ng Spouse such sums out of the
of the Survivor's Trust ae the Trustee, in the Trusteeas
discret~,on, shall consider necessary for the Surviving Spouse's
Proper health,, support, comfort, enjoyment, and welfare.
manner the power to invade p i cipal ontaine ise in a libers,l
2.3.2 and the rights of the remaindermen in the Survi~ror'ssTrust
$ha11 be considered of secondary importance,
q pous®, the
Trustee sha11 distributenany remaining balance ofithe Survtvo '
Test, .i.ncludinq principal and accrued or undistributed izcome~
to such. one or more persons and entities
Surviving Spouse's own estate and on such terms andccondi onsa
either outright or in trust, and in such
Survivir~q Spouse shall appoint by Will or Codicil spec if calla
referacing to and exercising this general power of appointment Y
5
On the death of the Surviving Spouse, this
L. trust estate, to the extent not disposed of by exercise ~~f the
power of appointment, shall be distributed to the By-pass trust,
and sha].1 be held, administered and distributed in accordance
with-the terms of the By-pass Trust as specified it this
instrument.
Notwithstanding the provisions oi' this
subparagraph, however, upon the death of the Survivin S
the Trustee, in the Trustee's discretion, may pay thegex enses
of his or her last illness and funeral, other abliq~tions
incurred for his or her support, attorneys' fees and any state
or inheritance taxes, including interest and penalties, arising
by reason of his or her death, attributable to the Survivor's
Trust from either income ar principal of this trust t:o the
extent i~ot appointed, unless other adequate provisions shall
have beEn made therefor.
2,3.3
shall pay to or apply
~u~h, some .out of the
Trust a:~ the Trustee,
necessary for his or
accordan.ee .with ..hie
E~ccess,ncome:shall be
payments From By-Pass ~,~ The .Trustee
for the benefit of the Surviving Spouse
net income and principal of the BY-Pass
in the Trustee's discretion, considers
her health, maintenance and support in
car her accustomed standard of living.
accumulated and added to Principe:....
On the death of the Surviving 9pouae this
,_. ta~ust estate, together with any other ro
shall b® held, administered and distribuedt ass hereinmfter
provided.
~ • 3 ~'~ Payments from D3,sclr~imer Recenta i A
The Trustee shall pay to or apply for the .benefit cif the
Surviving Spous±a such sums out of the net income and
of ..the Disclaimer Receptacle Trust as the Trustee prim iphe
Ta;ustee ~.a, di'scretion, considers necessary for his or hex health,
ma~Rtenance.and support in accordance with hie or her accustomed
standard of_ living. Excess income shall be accumulatE~d and
added to principal.
On the death of the Surviving Spouse this
trust estate shill be distributed t~o the Hy-Pass Trust;, and
shall b~> held, administered and distributed in accordanc~3 with
the .ternns of the By-pass Trust as specified in this instr~a~ment.
2.4 Distributions From By pass Trust ~,o] ] owi *+~* ~ ~~h o~
3u~v~ 4 S__,_____oous,e . ---~._-__~
_a 2...4..1 Asian of By Pass Trust. On the death
o~ the:.:~urviving Spouse, the Trustee shall distribute the
Pass ...Trust (-ineludin an -
g Y property added to it except for
6
prap,arty added to it from the Disclaimer Receptacle Trust which
shall ncat be subject to this special power of appointment) to
~J such one or more persons or entities in the class consisting of
the Settlors' issue, and on such terms and conditions, either
outright: or in trust, and in such proportions as the Suzviving
Spouse shall appoint by Will or Codicil specifically referring
to and exercising this special power of appointment. In the
absence of the Surviving Spouse's exercise of this power, the
Trustee shall divide the remaining assets of the By-Pass Trust,
including all property added to the Hy-Pass Trust, into es many
equal sx~ares as there are children of the Sattlor~a then living
and children of the Settlors then deceased leaving issue then
living. The Trustee shall allocate one {1) such equ$1 ekare to
each such then living child and one 1 such e
group composed of the then living( issue of auchhar deC®aQ,s®d
child.., Each.ahare shall be distributed or r®tained in tzuat as
further provided in this Section 2.4.
2~~•~ Share of Livinu Child. E a c h s h a r e
al.~.ocated to a living ch~.ld of the Settlors shall be distzibuted
to :.him or her, free of trust.
2.4.3 Shares of issue of Deceaser~ ~,~~. Each
share 8zlocated to a group composed of the living isau~3 of a
d®ceased chi~.d of the Settlors shall be distributed to-those
issue, subject to the provisions of Section 2.5.1, free of
~~at, by rl,ght of representation.
-- 2.5 Geriera7 Provisions on Pa gents and
~ ___,,,,,,~, DiS~ri ha,t~~
2..5.1 ~yention of nf~t~r;~.,,..o,. ..
--~`~~ if any person otherwise entitled to outr
distribution of a trust or a po=tion of a trust is under age
twenty-five (25.), but is not a person for whose benefit a trust
is-then being administered under this instrument, th® Trustee
sha~,l..ianstead distaribute such trust or portion then®of tc VICKI
L. MACK as custodian for the benefit of such pexaon until age
twenty-five {25j under the California Uniform TransfE~ra to
Minors l~ct. If VICKI L. MriCK fails to
as such custodian, then JpANNE E. KIC~ENi shall caste a~~osuch
cuatodia:n .
2.5 • ~ Diet;ribution if
Q~ceased;, Settlors and r~ ~~
If at .any time before full distribution of the trust
estate Yaoth Settlors and all of the Settlors issue are de.eased
and no other disposition of the property is directed 1r- this
instrument, the remaining portion of the trust estate shall than
be~~distributed:one-half (1/2) to the legal heirs of Husband and
ohe_~.alf. (1/2).to the legal heirs of Wife, the identity and
x~sPeGt~ve shares of those heirs to be determined in all
rejects as: though the death of Husband or Wife, as the ca3e ma
be, had occurred . isnnediately following the event re i y
q~ irinq
distribution, and shall, be determined according to the laws of
euccessa.on of the State of California then in force relating to
separate property not acquired from a parent, grandparent, ox
'° previously deceased spouse.
2.5.3 Peraetuities avjna clause. Unless
sooner terminated in accordance with other provisions of this
instrument, all trusts created under this instrument shall
terminate twenty-one (21} years after the death of the last
survivor of the Settlors or of the Settlors' issue living on the
date of the death of the first Settlor to die. The principal
and undistributed income of a terminated trust sht.ll be
distributed to the then income beneficiaries of that trust in
th® same proportion that the beneficiari®s are entit:ed to
redeive income when the trust terminates. If at the time of
such terminatipn--the rights to income are not fix®d by they ter~ne
of the trust, distribution under this Section 2.5.3 shall be
made, by, right of representation, to the persons wlko.are
entitled or authorized, in the Trustees discretion, to Yecelve
trust payments.
2.5.4 4~her Resaurce~ o~ Bens ci ,~. In
mak~.ng any payment of principal to or for a beneficiary under
this instrument, the Trustee shall consider any of that
benefica.ary~s income or resources known to the Trustee cutside
these tz•usts .
2.5.5 Saendthrift Provision. No interest in the
.Principal or income of any trust created under this instrument
sh~t7.l , ,be ~ anticipated, assigned, encumbered, or sub jec•:®d to
cr~~litor~s claim or legal process before actual receipt by the
bens f is ~.ary
~RTICZ,~ III
RIGHTS RESERVED BY SETTLORS
3.1 Revocation Durincr ettlore • Join~~~{~+YA , During
the.~ofnt lifetimes of the Settlors, this trust may be revok®d
in whole or in part with respect to community property by an
~.nstrument_in writing signed by either Settlor and delivered to
the Trustee and the other Settlar, and with respect to separate
property by an instrument l.n writl,ng signed by the Settlar who
egntributed that property to the trust, delivered to the
Tr~.stee•.On revocation, the Trustee shall
both Settlors all or the deli at®d Promptly ~deli~rer to
9n portion of the community
prQpertY trust assets, which sshall continue to be the community
property of the Settlors and shall be held and administer®d as
community Property. On revocation with respect to separate
property, the Trustee shall promptly deliver to the contributing
Settlor all or the designated portion of that property. If this
instrument is revoked with respect to all or a major portion of
,__, ~
the assets subject to the instrument, the Trustee sh~-ll be
entitled to retain. sufficient assets reasonably necess~iry to
secure payment of liabilities lawfully incurred by the Trustee
in the administration of the trust, including Trustee's3 fees
that have been earned, unless the Sattlors indemnify the Trustee
.against loss or expense.
3.2 Amendment During Settlors~ Joint Lifetimes, The
Sattlors may at any time during their joint lifetimes amend any
of the terms of this instrument by an instrument in v-riting
signed by both Sattlors and delivered to the Trustee. No
amendment shall substantially increase the duties or liabilities
of the Tacustee or change the Trustees compensation without the
Trustee's consent, nor shall the Trustee be obligated to act
under such an amendment unless the Trustee accepts it. If a
Trustee is removed, the Sattlors shall pay to the Trustee any
.sums. clue and shall indemnify the Trustee against liability
lawfully incurred by the Trustee in the administration of~the
trusts.
3.3 revocation and Amendment by Surv~,vinc S+'+~++Q 3 , pn
tkt® death of the Deceased Spouse, the Surviving Spouse shall
have the power to amend, revoke, or terminate the Survivor s
Trust,. but.the~By-Pass Trust and the Disclaimer Receptacle Trust
may not be amended, revoked, or terminated. On the death. of the
Surviving Spouse., no trust may be amended, revoked, or
terminated,. On. revocation Qr termination of the Survivor s
Trust, .all of its. assets shall be delivered to the Su=viving
Spouse.
Revocation and amendment shall be made in the manner
provided. in~Sect:ions 3.1 and 3.2, respectively.
3 •'~ Powers of Reva,,,,~on and Amendmeri~g,~~a
~:~.~ls,Ss • The powers of the Sattlors to revoke or amen3 this
instrument are personal to them and shall not be ea®rciaed in
their :behalf by any guardian, conservator, or other person,
except. rhat revocation or amendment may be authorised, after
notice to the Trustee, by the court that appointed the guardian
Qf conservator..
ARTICLE IV
- ADMIAiISTRATIVE PROVISIONS OF TRUST
xn order~to carry out the provisions of the trusts
created by this instrument, the Trustee shall have these dowers
in addition to those now or hereafter conferred by law;
4.1 o d ction. Then appropriate Superior Court
of the :=fate of California shall have jurisdiction for a.ll the
Puzposes .seta forth in Section 1720Q of the California P::obate
9
Code.
4.2 Investment Powers. To invest and reinvest funds in
~- every ki-nd of property, real, personal, or mixed, and ®very kind
of investment, specifically including, but not limitfad to,
corporat.,e obligations of every kind, stocks, prefer2~ed or
common, shares of investment trusts, investment companies, and
mutual funds, and mortgage participations, that persc,ns of
prudence, discretion, and intelligence acquire for their own
account
4.3 Power. to Retain Property. To continue to hcld anp
property, including any shares of the Trustees own stock, and
to operate at the risk of the trust estate any business tY.at the
Trustee receives or acquires under the trust as long 3s the
Trustee deems advisable.
4.4 Power t4 Wage ,securities. To have all the rights,
powers., and_ privileges of an owner with respect to the
aecurit~,es; held in trust, including, but not .limited ta, the
powers to vote, give proxies, and pay aasessmentB; to
particiPate~in voting trusts, pooling agreements, foreclceures,
~reorgan~.zations, consolidations, mergers, and liquidatior.e, and
incident to-such participation to deposit securities with and
transfer title to any protective or other committee o1 such
terms as the Trustee may deem advisabl®; and to exercise c,r sell
stock subscription or conversion rights.
-- 4.5 Power to Hold Secur tie in NominA
~- ~ ems. Zo hold
securit.~ea or other property in the Trustee's name as 'trustee
under this .trust, or in the Trustee's own name, or in the name
of a nomine®, or the Trustee may hold securities unregiste:r®d in
such condition. that ownership will pass by d®livery,
4.b .Power to Se]1, Excha~g an nmir
control ~• To nanage,
grant options on, sell (for cash or deferredpayuents),
covey, ®xchange, partition, divide, improve and repair-trust
Property.
4.7 Power t~Le~e . To lease trust property .for teg
wfthin or beyond the term of th® trust for an
including exploration far and removal of Y purpos®,
minerals; and to enter ,into community oil ieaSes°il• and other
unitization agreements, , pooling, and
~'.8 per ~~~. To lend money to an
includ.i,nq the probate estate of either Settlor y psrson,
any such loan shall be adequately secured and shall Y,e ~haa
reasonable rate of interest.
~~ ~.9 Pa-~ to porches Property From ettlnr+g
~~. • To purchase p,rops,rty at its fair market vat u
1Q
determined by the Trustee in the Trustee's discretion, from
either Settlor~s probate estat®.
4.iQ Poorer. to Loan to. Buy From and Sell to True"
,l~~,Yia~>>v: To loan or advance the Trustee's own funds to the
trust for any trust purpose, with interest at current ra~.es; to
receive security for such loans in the form of a moa:tga4e,
pledge, deed of .trust, or other encumbrance of any assets of the
trust; to purchase assets of the trust at their fair market
value as determined by an independent appraisal of those Fieeets;
and to sell property to the trust at a price not in excess of
its fair market value as detex~nined by an independent app~~aisal.
x•11 Surviving St~ouse ~u~,hor a to Uee Resident
the death of the Deceased Spouse, the Survivin 3 ~' On
have::the right to continue to occu 4 pouse sha~,l
trust estate that the Surviving Spouse and the Deceased 8n the
were using for residential purposes (whether on a full oi• pause
time basis., including resort pr4gert part-
tht~ ~~ $urvivin S Y} i provided, hornrevex, that
g pouse, in his or her discretion, may dirECt the
Trustee to s®ll.any such property and replace it with or 2•ent or
lea,~.e .another ,residence selected by the Surviving S,po~~se of
Qoatparable-or lower value, The Trustee shall pay a portion of
shy. mor-~gag® or trust deed interest payments and any pxoperty
taaces,.assesementa, insurance, maintenance, and ordinary repairs
on aZl such property, or any rent or lease a
income of the, H Pass Trust. F yments Gaut of
Y' Payment of any part ~~f the
principal amount of any encumbrance on the property sh311 be
~__ charged against the principal of the trust. The portion c~f such
payments and expenses charged to a particular trust shall be an
mount<that ie or was proportionate to that trust'ia iatexest in
such, property. The remainin
expenses ~thall be paid by the gSu~rvi in 8f such paymeni;a ~ and
pursuant to his or her instructions,gmayou~ Personally or,
Sui~vivoa.:- ~ s Trust : Paid frc-m the
4 ` ].2 a Each Trustee . shall, ha•~e the
power to release or to restrict•the sco
Trustee may hold in connection with theptrustacieaPt d under this
insitrumHnt. whether said power is expressly granted iii this
instrument or.impiied by law. The Trustee shall exercise this
power: in a .written instrument specifying the powers to be
released or restricted: and the nature of any such restriction.
Ault re,~~aaed power shall pass to and be exercised by the ~aerson
desl'g~~=ed a$ thQ. successor to the Trustee releasing the ,~owQr.
.. ,~
4.13 Per to Emnl_ oy ~,,genta • To employ any. cust~~dian
attorney, accountant, corporate fiduciary, or any other
agents to aq•ant or
assist the Trustee in the administration of this
trust,.. Reasonable compensation far a.ll services
these agents shall be paid from the trust estate _ utrofrn ither
income car principal as the Trustee in the Trustee's diac~~etion
11
} .:
determines, .and aha~„1 not decrease the compensation to wh.Lch the
Trustee is entitiled.
.~ . 4 ` 14 meter ~Q BOrrt~sa To borrow mone
trust property by mortgage, deed of trust Y~ and to encumber
.for the debts of the trust or the joint debts~gf~the trts~gnd
co-owner .of trust property,
4.15 Power to Co_m, r~e_nce and Defend Litia
~.4-~~. To commence or defend, at the exile sn a oE~ the t'~
such 1i~.igation with respect to the trust or any prop®rty of the
trust estate as the Trustee deems advisable and to compromise or
otherwise adjust any claims or litigation against or in ft~vor of
the tru;~t .
'The Trustee's powers under this section shall apply
du-rixig t:he term of the trust and after distribution of thE~ trust
assets. However, the Trustee shall have no obligati,~ne or
duties tivith respect to any litigation or claims occurring after
distribution of trust assets unless the Trustee is adegu,ately
indemini.ffed by the distributees for any lass in connection with
such matters.
4.16 Pow®r to InsurA. To carry insurance of such kinds
and:. in _ such amounts as the Trustee deems advisable, eat the
®upense of the ..trust, to protect the trust estate and the
Trot tee personally .against any hazard.
P.
__ 4.17 $_to Wit hold Pavmpnts if onfZi~t~n~ ~~~
~• To withhold from distribution, in the Trustee's
discret~.on, at .the ~ti,me for distribution of any propertl in this
trust, ~rithout the payment of interest, all or an
Property, as_~,ang as the Trustee determines in he aTru,3teehs
diacret3.on~.that such property may be subject to confl.Lctinq
c~aal:ms, to tax deficiencies, or to Liabilities., conting~~nt or
othez^w:tse, properly incurred in the administration- of the •:rust.
~# .18 Power to Purchase eoncls at Prem . To pu:~chaae
bonds and to pay such premiums in connection with the pw^chase
as: the- Trustee ~.n the Trustee ~ s discretion d®em~a advis~abla;
gacovided, however, that each
per~igdcsll . to.. Premium shall be ~~epaid
Y Principal out of interest on the bond ir. such
reasonable manner as the Trustee determines and, to the Eoatent
necessary, out of the groceeds an the sale or other dispot,ition
of the bond.
~' ~ i9 Power to Purchase Bonds at p
bonds at such .discount as the Tru$tee~ iQ.theToTruFteeBa
di,sex~etion deems advisable; provided, however, that each
d.f$count shall. be accumulated periodically as interest in such
reasonab~,e manner as the Trustee determines and to the extent
necessary paid out of the proceeds on the sale or other
12
disposition of"the bond or out of principal,
~ . 20 Powers of Distri h„r+...;. To partition, allot;, and
`~" distribute the trust estate, on any division or partial or final
distribution of the trust estate, in undivided interests or in
kind, or partly in money and part~,y in kind, at valu~~tions
determined by the Trustee, and to sell such
Trustee deems necessary to make division or di ributicn.tln
making any division or partial or final distribution of the
trust estate, the Trustee shall be under no obligation tc~ make
a prorate division, or to distribute the same asae,.a to
beneficiaries similarly situated; but rather, the TrusteE~ may,
in the Trustees discretion, make nonprorata division bE~tween
trusts or shares and nonprorata distributions to such
beneficiaries, as long as the respective assets allocated to
separate trusts or shares, or distributed to such beneficiaries,
have equivalent or proportionate fair market value.
:4 ..21 Revised Uniform Pri nc; na t
except as otherwise spec~.ficall 8~-d Income A„e~ +-~ ~y~n,
the. determination of all mat ersrwithd~ specta onswhtt nis
px~iaGiPal and income of the trust estate and the apporticnm®nt
and alloaat,ion of receipts and expenses between these accounts
shall. be governed by the provisions of the California Revised
~Iniform Principal and income Act from .time to time existinc~.
such matter not provided for either in this instrument or in he
California Revised Uniform Principal and Income Act.eha.Ll be
determined by the Trustee in the Txustee~s discretion.
4.22 t Tre nt of Tn a Be t~t,~rfe~~~
R~ai3nderma++, The Trustees '
Tru~etee's duty to treat inaomeb Beneficiaries Qand~remai d3,rmen
equitably, and the following requirements shall be observ,~d by
the Trustee:
(1) A.rea~onable reserve for depreciation o:' all
~.r~cca~gie• ,produc:ing: depreciable real and personal .property, and
capital ;~,~provementa and extraordina
pr~oducinq .property, shall be charged o incomer frown tine oto
time; .
(2y A reasonable reserve for depletion of all
d~letable natural resources, including, but not limited t
oil, gas, and miners], and timber property, shall be charged to
income from time: to time: .
°. (3) Distributions by mutual funds-..and .similar
entities of gains from the sale or other disposition of ro ,e,
shill ba credited to principal; P ~ rty
intangible { p Y reasonable reserve for amortization of all
pro ert having a limited economic life including,
13
J,
but not limited to, patents and copyrights shall b® charged to
income from time to time;
~~
(5) All premiums paid and all discounts received
(e~ccept a~ otherwise provided in Section 4.17) in connection
with the purchase of any bond or other obligation shall be
amaxtized by making an appropriate charge or credit to inc~~me as
the a$ae maybe .
4.2 3 ~lndistributed Income p~Y~ i A +., guccE:
~enef icia~-i Aa . Income accrued oar unpal,d on trust properta,~~h~
received into the trust shall be treated as any other i:come.
Income accrued ar held undistributed by the Trust®e at the
t~+rmination of any trust shall qa to the next beneficiaries of
the Cruet in proportion to their interest in it.
4.2R at'on
Eenefic~ a face ~ 8
Amang successive beneficiaries of this t~$
all. taxes and other current expenses shall be prorated over the
period to which they relate on a daily basis.
'~ ~ 25 ~'hvsical Division of Tru t rnP.~F~Y~ Res .i~d
There need be no physical segregation or division of the various
trusts except as segregation or division may be required k~y the
terminat:~on of any of the trusts, but the Trustee shall keep
8e~:~ate accounts for the different undivided interests..
4.26 Use of Ins ~r v,~
a33~.~_._a,~~c®~. Notwithstanding anything
__- in th~,~ instrument to the contra
any death taxes„ including intereat~ orbs Trustee. shall naC pay
and funeral expenses, attorneys' fees, ad~ministrationse~illness
debts, ar other. obligations of a deceased Settlor or hispor~her
estate from funds.received from proceeds of insurance policies
on the d®ceased Settlor's life.
are no other .assets available for suhepurposes ~ the Trttstee~,®in
the Trustee's discretion, may use insurance proceeds that axe
oth®xwise taxable in the deceased Settlor's estate for fe3eral
e~,~ate„tax purposes for such payments.
4.27 additions to m,-,,.~t Othear
the,;.Trnstee m$Y bQ added to these trustspb panty acceptable to
Will or Codicil of the 3ettlor, by the proceedse of navy life
insurance, or otherwise.
4.28 .riot ce t~ Tru_._ steP~ of BirthQ
tents. Affecting T tares ~. Des ~~.:,. and t)t_ her
written notice of the occurrence soft an event eaffectingjithe
beneficial interests of this trust, the Trustee shall. nct be
1~$ble. to any beneficiary of this trust for any distribl~tion
made as though the event had not occurred.
4.29.Di~but~ons
_ to Min_^ ar$ _,~~ Tncomnetents . E~;cept
-.-•.__
-" l4
wh®re otherwise provided in this instrument, the Trustee in the
Trustee"s discretion may make payments to any minor or other
beneficiary under disability by making payments to the cp:ardian
'~ of his car her person, or the Trustee may aPP1Y Payments df rectly
for the beneficiary's benefit. The Trustee in the Trustee's
discret:i~on may make payments directly to a minor if .i.n the
Trustee°s judgment he or she is of sufficient age and maturity
to use the money properly.
4.3Q 1~,arQi Accounts. To buy, sail and trade in
securities of any nature, including short sales on margin,, and
for such purposes may maintain and operate margin accounts with
brokers, and may pledge any securities held or purchased by the
trust w9.th such brokers as security for loans and advances made
to the Trustee.
ARTICLE V - TRUSTEE
5.1 S~eC,e,~so~ Trustee. If either Husband or Wife c:easea
to act as Trustee, the other shall act as sole successor T~:~ustee
except for the Disclaimer Receptacle Trust wh®re the T~~ustee
sha~l.._be the successor Trustee h®reafter named in the order
hereafter. a®t forth. Zf both Husband and Wife cease to e~ct as
Trustee, th®n VICKI L. MACK shall act as successor Trustee. If
VICKI L . MACK ~ ceases to act as Trustee, then JOANNE E . ~:ICKEN
shall act ae successor Trustee. If a vacancy exists and no
successor is named .in this instrument to fill such vacancy, then
a Trustee shall be agpointed who is either:
(a} A bank or trust company which has trust pcwers,
which is located in some state or country that recognises
trusts, and which has a combined capital and surplus in excess
of $1,QAQ,OUO (no substantial portion of which is directly or
indirectly owned. by Settlor or any beneficiary hereunder; or
(b) An individual who is experienced in business,
f.ir~~nce;.or investments or who is an attorney experienced in the
trust or tax f ieldcs .
5.~ No Boni. No bond shall be required of any parson
named•in.this instrument as Trustee, or of any person appo.Lnted
as the Trustee .in the manner specified herein, for the fai~.hful
performance of his or hex duties as Trustee.
5 , 3 ~T~~.3L~-~X Not Req~~ire,~ . I f at any time therE~ are
more than two Trustees acting under this instrument, any action
taken, by a majority of the Trustees shall be binding upon this
trust and may be relied on by third parties dealing with the
Tr~ste®,a ..
During. any period when both Husband and Wife are
act3,ng ~as Trustee, .then either acting alone shall -have the power
15
.r
to-.withdraw funds from deposit accounts at financial
institutions maintained in the name of the trust.
'- ~.4 Limit~~~on on Trustee's ~i,M1~.~ility. No TrusteE: shall
be liable or responsible for any act, omission, or default of
any other Trustee provided that the Trustee had no knowlEdge of
facts that might reasonably be expected to put the Trustee on
notice c:-f it .
No successor Trustee shall be liable for anY act,
.omission, or default of a predecessor Trustee. Unle~as r®quested
in writing within 60 days of appointment by an adult beneficiary
of the trust, no successor Trustee aha11 have any dc.ty to
investigate or review any action of a predecessor Trustee and
may accE~pt the accounting records of the predecessor Truste®
showing as ats on hand without further investigation and without
fncurrir~q l,abiTity to any person claiming or having an in~.ereat
in the trust.
;.. 5,5 ,C~genaation. The Trustee shall be entitled. to
reasonable. compensation from time to time without prior court
order except that Husband and Wife shall not be compensat4~3 for
t2~-ir• services as Trustee.
ARTICLE VI - MTSCELL~NEOUS
6.1 ~~,~:for„pia Law. The validity of this trust ar.d the
cone-ruction of its beneficial provisions shall be gove~cned by
,_, ~~e.].aw~ of the State of California in force from time to time,
This section shall apply regardless of any change of residence
of- ~h® Trustee or any beneficiary, or the appointme::t or
sµbstitu.tion of a Trustee residing or doing business in another
state,
. 2 ~,,tion. Whenev®r provision is made to pa.~r for
t~h® .educa.tion ,of a beneficiary, the term "education" :hall
include college,._poatgraduate study, vocational or trade ec:~ool,
or .shy other :form of career preparation, so long as ir. the
Trustee's. discretion it is pursued to advantage by the
beneficiary at an institution of the beneficiary's choice. In
determining payments to be made to the beneficiary for such
education, the Trustee shall consider the. beneficii~ry'a
r®asonably related, living and traveling expenses.
6.3 ~~s_ue and Ch{ ~d+^en, Tn this instrument, the term
"issue." shall refer to Lawful lineal descendants of all degrees,
amd-the .terms "child," "children," and "issue" shall include
adopted children who were minors at the date of adoption.
When a diviai.on by ~~right of representation" #a to
be, made., she .primary division shall be mad® at the first
ges~eratian of issue, whether or not there are any living members
-r ., l6
of that generation.
Sattlors have two (2) children, all of who:rt,~re now
-~ living whose names and birth dates are:
Neste
VICKI L. MACK
JQANNE E. RICREN
September 14, 1959
Decanaber 9 , 19 5 7
6.4 As used in this instrument, the
masculine, feminine, or neuter gender, and the sinquLar or
plural number, shall each include the others whenev«r the
context so indicates.
6.5 BQveF~~~~,ity, If any provision of this trust
instrument is un®nforceable, the remaining provisions shall
neverthcaless be carried into effect.
6.6 Namg„ of Treats. The trusts created ir. this
inatrura~:nt may be referred to as THE BOYLES FAMILY LIVING TRUST.
6.7 Headings. The headings to the Articles and to the
s®etions and subsections contained in this instrum®r.t ar®
insert®c1 for convenience only and shall not be used in
construa.ng any provision contained in this instrument.
5.8 ~o-CQn~,~~gt Clause. If $ny person, ~aingly or in
f cQn junctaan with any other person or persons, contests :Ln any
court the validity of this trust, the Settlor',a last Wi:.l, or
any other instrument executed or conveyance made by the S~3ttlor
or under t:he Settlor's direction which in any mane®r affe~as or
conL~ols the disposition of any part of the Settlor's est~~te on
the Settlor•s death, or seeks to obtain an adjudication :,n any
praceedi,ng in any court that this trust, ouch Mill, inst~'ument
or conveyance or any of their provisions is void, or seeks
otherwise to void, nullify, ar set side this trust, such Will,
instrument or conveyance or any of their provisions,.thEn the
r~.ght. off' that person to take any interest in any .part c f the
SQ~t;lor's estate (.whether such part is subject to this trust,
euch~:,W;il~,, or other instrument) shall be determined as it would
have keen determined had the person predeceased the executj.on of
this instrument without surviving issue.
~,, The Trustee is hereby authorized to defend, at the
eacpense of the trust estate, any contest or other attack of anp
natua~e on this trust or any of its provisions.
ARTICLE VII - GENERATION SKIPPING
TRANSFER TAX PRQVISI~NS
17
7.1 A~,„~ ocat~,o>~ o~ GS,~~ Fx~,ggt~on, Exaept to the extent
allocable pursuant to other provisions of this instrument, the
executor of a Ssttlor'ar Will, or in the event no such a:tecutor
`" is appointed, the Trustee of this Trust, is directed to a:locate
such Settlor's generation-skipping transfer tax {'GSTT")
exemption to and among dispositions of property with res}~ect to
which the Settlor is the transferor, whether contained ~.n this
instrument or otherwise, in such manner as such executor or
Trustee, in such executor's or Trustee's sole discretion, deems
best calculated to secure the nwst effective utilisation c,f such
exemption, based on circumstances and events either known or
reasonably fore$eeable as of the expiration of the time within
which such allocation is required to be made.
7.2 ~rus~.e® ~gneration. The executor of the Settlor's
will and the Tru~t~® are specifically axon®rated frc,m any
liability ari8i.ng from any ex®rcise or failure to exercise thea®
powers, provided the actions (or inactions) are made iz good
faith. A,ny allocations. made by such executor and/or the Trust®e
shall be conclusive on all persons interested in an3~ such
dSaposition, and neither such executor nor the Trustee shall.
have any ~,iability if, in light of or as the .result of
subsequent etvents, a different allocation would have ca~ised a
higher value of assets to be exempt from any GSTT.
7.3 F~].usion of SurvivinQ„~8ouse, No Folder of G~,eral
Powez. if th® Surviving Spouse is acting as a Truat~,e or as an
ex®cutor of .th® Deceased Spouse's will, the Surviving ~3pouse
shall h~3ve no authority to make any decision as executor or
Trustee under this Article, such power being in tha other
e~cecutox• or Trusts®, if there is one, and if there is noa~-e, in
the, successor executor and successor Trustee in the order
mated..
~~ No person acting as executor of a Settlor • s w:.ll oar
aa,:~~,Fustee, however, shall be authorized to make or participate
in,eny g®neration-skipping election or allocation decision if
poweX to do so would result in his or her having a general power
of ,appointment {for fed®ral estate and gift tax purposes) over
property with respect to which he or she would not otherwise
have such a general power; should this prohibition lea~re no
executor or Trustee able to make elections and allocatiane, the
offic® of executor or Trustee for this limited purpose shall be
filled in .the manner that other vacancies in the office of
executor or Trustee would be filled,
In exercising the power to allocate the S®tttor's
g~n~ration-skipping exemption under IRC Section 2631(a}, or any
successor statute, the Settlor's executor, or if there is cone,
the Trustee, may include in or exclude from that allocatio:i any
property of which the Settlor is a transferor for genera~..ion-
$k-iPPi~9 Purposes r. including property transferred prior tc, the
18
Se~~tl4r~s death. These decisions may be based on tra~isfers,
gift tax returns and other information known to the exec>>tor or
the Trustee, with no requirement that allocations benei'it the
various transferees or beneficiaries of such property ec~ttally,
proporta.onally or in any other particular manner.
Executed at Contra Costa County, California, on
~n , 1991.
~}r. , ~
J N M. HOYLES, T atee ~""
. V. SOY S, Trustee
We certify that we have read the foregoing Decla;~ation
of Trust and that it correctly states the terms and cond:,tions
under which the trust estate is to be held, managed, and
disposed of by the Trustee. We approve the Declaration of Trust
__ in all particulars and request that the Trustee ®aecut® it.
Dated: ~ ~..,.. 19 91.
J N M. ~ HQYLES, ettlo~r `-""
• BOYLE , Sett~oz ~"'~'
STATE OF CALIFOR2dTA
COUNTY Og CO~E,A, ,COSTA 1 ss
On c~--G , 1992., before me, a notary
public for he Late o California, personally app®ared JOPIN M.
SOYLES and 1dADYA v. HOyI,ES~ known to me or proven on the taxis
of satisaEactory evidence to be the Trustees and Settlors of the
19
trust created by the above instrument, and to be the parsons
whose names are subscribed to the instrument, and acknowledged
execution of the $ame as such Trustees and as such Settlc>trs.
TN WITNESS WHEREQF, I have hereunto set my ha~td and
affixed my official seal the day and year first above wr:.tten.
OFFICIAL sEAI ~~ ( ___-
ROBERT G. NY~ODYM Notary Pu
' NOTARY PUBI.iC • CAI.IFQRNiA
PRINCIPAL OFFICE IN
CONTRA CUBTA COUNTY
My rammisebn Exairea January 84, 1895
20