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HomeMy WebLinkAbout02-16-05 AFFIDAVIT FOR FILING BY FOREIGN FIDUCIARY AFFIDAVIT FOR ANCILLARY LETTERS COMMONWEALTH OF PENNSYLVANIA COUNTY OF .(T~r.lINI1 : IN RE: ESTATE OF CONNIE B. LANE, : also known as C. B. Lane, DECEASED : NO. .) I - 0 ~ - 15'-1- John A. Piotrowski, being duly sworn deposes and says as follows: Deponent is Independent Executor of the Estate of Connie B. Lane, also known as C. B. Lane, Deceased, who died C(:1O!3I:L2.3 ,20"", a resident of the State of Texas. Deponent desires to exercise within the Commonwealth of Pennsylvania the authority vested in deponent by virtue of20 Pa. Cons. Stat. 9 4101 and has complied with all the provisions of same. After diligent search and inquiry, deponent states that so far as deponent has been able to discover, the above decedent is not indebted to any person in the Commonwealth of Pennsylvania, and that deponent will not exercise any power which he would not be permitted to exercise in the jurisdiction of his appointment. -if/;--ti . ~ J A. PIOTROWSKI 6348 South Powderhorn Road Mechanicsburg P A 17050 Sworn and subscribed to, before me, this ~ day of FEP..RcuAW-/ ,2005. kaw f ~ / Notary Public C.,""i ::t~. NOTARIAl. SEAL SUWl E. EVANS NoIafy PubIc MNMIIUE IIOROUGH. PERRY COUtllV My Commllllon ExpIres 5ep 23. 2008 r",J {L0289753.1 } J- r- I '--_.-::-;;:-_.~ ,; II \",' \1 ~ ,,~, )A'(' , . .,........._._J '-- ... .-- . J ... -.... . COUNTY OF DALLAS 2\-05- 15L/ ~ STATE OF TEXAS EXEMPLIFIED PROBATE PROCEEDINGS ) ESTATE OF: CONNIE B. LANE, DECEASED CAUSE NUMBER: 00-4056-P3 roo,,,,) .::-- ) ""..::,;;,; <:I~ ~~;.>'i; "", _ 4':.>, ,\,." ~-'-~-,-~.. ~ I:' "'\. .....:"'~e~~"'~"l.:.!.. t.... if- . "-,'~~ ~.. ~ l'. :-0....~- ~"l."l.~ .. :---.::..:.,. ...., f ~:::::~. '\;... ,. \..- ;. 'l_ f. " / i. ~ - "' I- i ~ :_ ~.-'~ ~,.:.~: .,...,./...... -:;.;.... .....;;;.~~~...:;'" ..... ->- IN PROBATE COURT OF DALLAS COUNTY, TEXAS FOR THE COUNTY OF DALLAS THE STATE OF TEXAS, COUNTY OF DALLAS } SSe '"" I, Cynthia Figueroa Calhoun County Clerk of Dallas County, and Clerk of the County and Probate Courts within and for the County of Dallas, State of Texas, do hereby certify that the foregoing is a true and correct copy of the 1. LAST WILL AND TESTAMENT OF CONNIE B. LANE !'f 2. LETTER TESTAMENT AR Y. '!" \ ..."..... '0'.. ..,; ~ _:.:'''' ....,..'1, \ ....- .;,- . ,^~ \~ f ?_ -~ __ ~ .: 0:.. ~_ ,.;.._ l ;.,..~.: ";.- "So:' '...... '.;. .;" :-..~. . ~;.;......~; \\~ ~ause No. 00.4056.P3 in the matter ofthe Estate of CONNIE B. LANE, as the same appear on file and of record in my office. IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed the seal of said ~r.rt. This fi\I\ day of JANUARY, A.D. ~5. C' ~i I ',) \ \V.C\. y:,~OC\.. c::0C~OLtvJ Co nty Clerk, Dallas 0 , Texas THE ST ATE OF TEXAS, COUNTY OF DALLAS } SS. . ......, I, JOE LOVING Judge of Probate Court NO.3, of Dallas County, State of Texas, the same being a Court of Record and having a Clerk and Seal, and having jurisdiction over probate matters, do hereby certifY that Cynthia Figueroa Calhoun, who has signed the foregoing attestation, is duly elected and 'h. qualified Clerk of said court and that the signature of said clerk to said Certificate of ~ttestation is in due form according to the laws of the State of Texas, and entitled to full faith d credit. . WITNESS WHEREOF, lJ1.pve hereunto set my hand and caused the Seal of said court to be ~ereunto affixed, thIs I;}. ~ay of JANU Y" A.D. 2005, ~ ..;..;,................ ," .... ." .=-;:f'" ~.... .....;,..~..... - 'i:::. t'll. (.. ~ ~ : ,~ - ,... ~;. ~ "':;o' ,._,,: '"';.. ~;~ -~....... '.;.;-- ."";~ .\"\" .. ... \ ............ THE STATE OF TEXAS, COUNTY OF DALLAS } SS. ~:;:;~~:,;.:i..:~. r' ..:\ -.. ".",.." ':.;'- '\ ~~ '\' " .f,.;': \ , }: l' . <.', -'" .t:'J -. i~. , - .' .'-., f, '.;. ,........ _if ..,;.;......... ' ~ .:.~.... -i~ .., . I, Cynthia Figueroa Calhoun County Clerk of Dallas County, and Clerk of the County and Probate Courts of Dallas County, State of Texas, do hereby certify that the Honorable JOE LOVING who has signed the '" foregoing attestation is the present duly elected and qualified Judge of said Court, and that the ~ signature of said Judge to said Certificate is genuine. ~ TE~{~ONY WHEREOF. I have hereunto set my ban is 1 Jl"ll 0 ANUARY A. 5. <<.1'\.""-- THE STATE OF TEXAS PROBATE COURT COUNfY OF DAlLAS NO.3 LETTERS TESTAMENTARY CAUSE NO. 00-4056-P3 L CYNTHIA FIGUEROA CALHOUN, County Clerk and Clerk of the County and Probate Courts, in and for WILL OF CONNIE B. LANE Dated: IlEC I 5 1993 'c~ 1ft\~'1) ~ n,"') 't"',' ~ l)'h~ li\'~\l\U \\~ v " 496 000877 6tr~D6 0--'(3 ARTICLE I 1.1 1.2 ARTICLE II 2.1 2.2 2.3 2.4 ARTICLE III ARTICLE N 4.1 4.2 4.3 4.4 4.5 ARTICLE V ARTICLE VI 6.1 6.2 6.3 6.4 ARTICLE VII 7.1 7.2 7.3 7.4 ~O r~56 -p 3 WILL OF CONNIE B. LANE Table of Contents IDENTITY OF FAMILY My Wife Children GIFTS Personal Effects Residence Employee Benefits Residuary Estate CONTINGENT TRUST PROVISIONS DISTRIBUTIONS Personal Effects Distributions During Administration Direct Distributions Method of Distribution Needs PROPERTY PASSING UNDER THIS WILL EXECUTOR Appointment Fees Waiver of Bond Waiver of Liability ADMINISTRATION Executor's Powers Accounting Out-of-State Properties Right to Disclaim (i) ~96 7.5 7.6 7.7 7.8 7.9 Selection of Assets Limitations Regarding Insurance Limitation on Court Supervision Marital Deduction Delegation of Duties Among Executors ARTICLE VIII APPORTIONMENT OF LEGAL OBLIGATIONS AND TAXES 8.1 8.2 8.3 Payment of Expenses Payment of Taxes Funds from Family Trust ARTICLE IX DEFINITIONS 9.1 9.2 9.3 9.4 9.5 9.6 9.7 9.8 9.9 9.10 Code Descendants Executor Family Trust Heirs Incapacitated Marital Deduction Personal Effects Residence Trustee ARTICLE X GENERAL PROVISIONS 10.1 10.2 10.3 lOA 10.5 Will Not Contractual Survivorship Provisions for All Descendants Status of Signature Copy Titles, Headings, and Captions SELF-PROVING AFFIDAVIT (ii) II"" ~ TRUE AND CORRECT .."., ~ COpy OF ORIGINAL: :. r' FILED IN DALLAS '>i..,' COUNTY CLERK'S OFFICE 496 000819 ;,~Vij )1\;(-' ~' i: '-l' I';:" t. :~ "', ~, " " ',' WILL OF CONNIE B. LANE I, CONNIE B. LANE, a resident of Dallas County, Texas, declare this to be my will and revoke all previous wills and codicils. ARTICLE I IDENTITY OF FAMILY 1.1 Mv Wife. All references ill this will to "my Wife" mean FRANCES R. LANE. 1. 2 Children. All references in this will to "my Children" mean SALLYE ANN LANE JENKINS, SHERYL LYNN LANE DOWELL, CYNTHIA LOUISE LANE, and RONALD DAVID LANE. All references in this will to a "Child" mean anyone of my Children. ARTICLE n GIFfS 2. 1 Personal Effects. I give all of my Personal Effects: A. Wife. To my Wife if my Wife survives me. B. Children. If my Wife does not survive me, in equal shares to my Children who survive me. C. No Survivors. If neither my Wife nor any of my Children survive me, the Personal Effects shall pass as a part of my residuary estate. 2.2 Residence. I give to my Wife, if my Wife survives me, all of my interest in our Residence. If my Wife does not survive me, my interest in the Residence shall pass as a part of my residuary estate. 2.3 Emplovee Benefits. I give to my Wife, if my Wife survives me, my community interest, if any, in any funds or proceeds (a) from qualified deferred compensation plans pursuant to Section 401 of the Code attributable to contributions by any employer of my Wife or (b) from Individual Retirement Accounts established pursuant to Section 408 of the Code. If my Wife does not survive me, this gift shall pass as a part of my residuary estate. WILL -1- . TRUE AND flORReCT """"-' /i e .. COpy OF ORIGINAL ~BL :.> . FILED IN DALLAS '>'.' COUNTY ClERK'S OFFIC!: 496 000680 /i- .c~ /\ !' J ,\ (I ''''.'. . ,~. .n ,,; 10"'1.;\' .,' v i~ . ~1 ~J ..,;, 2.4 Residuary Estate. I give all of my residuary estate, being all the remainder of my estate, including any of the above gifts that lapse, as follows: A. Primary Disposition. To the Trustee then serving under the Family Trust to be added to and held as an integral part of the trust estate, subject to the terms of the Family Trust as now provided and as later amended. B. Secondary DisDosition. If the Family Trust is not in existence at the time of my death or if the distribution of any property under this will to the Family Trust is invalid under the governing rules of law, then that part of my residuary estate not distributed to the Family Trust shall be held, administered, and distributed in accordance with the terms, conditions, and limitations which are contained in the Family Trust on the effective date of my will (which shall be the later of the date of execution of my will and any codicils thereto); and for these purposes, I incorporate the Family Trust by reference into this will. C. Contingent Disposition. If (a) the Family Trust is not in existence at the time of my death or if the distribution of any property under this will to the Family Trust is invalid under the governing rules of law and (b) the secondary disposition above is invalid under the governing rules of law, then I give that part of my residuary estate not disposed of above, to my Wife, if my Wife survives me, subject to retention in trust according to the provisions of Article III hereof. If my Wife does not survive me, I give my residuary estate to my descendants who survive me. If neither my Wife nor any descendant of mine survives me, my residuary estate shall be distributed as follows: 1. One-half to ROBERT E. LANE, if he survives me, or if he does not survive me, to his descendants who survive me. If neither ROBERT E. LANE nor any of his descendants survive me, such one-half shall be distributed as provided in subparagraph 2. 2. One-half to ST. MICHAEL'S AND ALL ANGELS EPISCOPAL CHURCH, currently located at the corner of Colgate and Douglas Streets, Dallas, Texas. ARTICLE ill CONTINGENT TRUST PROVISIONS If any portion of my residuary estate is distributable to a beneficiary who is under age 30 or who is incapacitated (the "Ward"), the Executor shall designate a trustee who shall hold that Ward's share, as trustee, as a separate trust for the Ward to be administered as follows: WILL -2- _.';'''"'''' TRUE AND t'ORRECT ~t.. ~ COpy OF ORIGINAL CBL ..... . i FILED IN DALLAS '....< COUNTY CLERK'S OFFiCE 496 00088\ A. Distributions. The trustee may distribute to the Ward so much or all the trust estate as, in the trustee's discretion, is necessary to provide for the Ward's needs. B. Termination. The trust shall terminate when the Ward becomes age 30 and is not incapacitated or dies before that time. Upon termination, the trust estate shall be distributed: 1. To the Ward, if living. 2. If the Ward is deceased, to the Ward's estate, the Ward's creditors, the creditors of the Ward's estate, or any other person and entity to whom the Ward shall appoint, alone and in all events, by a will or acknowledged written instrument which specifically refers to this power and expresses the intention to exercise it. Any remaining property not distributed under the provisions described above shall be distributed to the Ward's then living descendants or if there are no descendants of the Ward then living, to my then living descendants. If no descendant of the Ward is then living and no descendant of mine is then living, any remaining property. shall be distributed to the Ward's heirs. C. to the Executor. Powers. The trustee shall have all the powers and discretions granted D. Bond and Fees. The trustee shall be entitled to compensation and reimbursement for expenses in the same manner as provided for the Executor. No bond or other security shall be required of any trustee of a Ward's trust. E. Spendthrift Trust. Each trust established hereunder for a Ward shall be a spendthrift trust. F. Wife's Trust. Any property given to my Wife subject to retention in trust pursuant to this Section shall be held for my Wife's primary benefit in accordance with the foregoing provisions; provided, distributions of all trust income shall be made to my Wife at least annually, and principal shall be distributed to my Wife for my Wife's needs. The trustee may take into consideration, to the extent the trustee deems advisable, any other income or resources known to the trustee to be available to my Wife for the stated purposes. In addition, the trust for my Wife's benefit shall not terminate upon my Wife's attaining any specified age, but shall continue until my Wife's death, at which time the remaining trust property shall be distributed to my then living descendants, or if I have no then living descendants, in accordance with the provisions of Section 2.4 as if the Family Trust were not in existence and neither my Wife nor any descendant survived me. WILL -3- .. TRue ANQ ~;f.. ~ COPy OF IDRRECT CB.I" <. .~. FILED I'" D~~IGINAL .. COu .. ...lLAs IIiTY CLERI('S OFFICE' 496 000882 ARTICLE IV DISTRIBUTIONS 4.1 Personal Effects. A. Division. If Personal Effects are given to more than one beneficiary to share equally (or in stated proportions), it is my hope that they will divide the Personal Effects between themselves as they mutually agree. If they do not agree to the division of all of the Personal Effects within six months after my death, the Executor shall make a binding and conclusive division between them of such articles as they have not agreed to divide. The Executor shall take into account the values of such articles so that, to the extent practicable, each of them will in total receive a share of the Personal Effects representative of his or her proportionate share of the total value of all the Personal Effects. The Executor shall be guided, but not bound, by any preferences which a beneficiary may express with respect to particular assets. Any of the remaining articles which the Executor determines is either not desired by the beneficiaries or not suitable for distribution to any of them shall be sold, the proceeds to be added to my residuary estate. B. Memorandum. I request that the beneficiaries and the Executor abide by any memorandum by me suggesting the disposition of the Personal Effects or any part thereof. This request is precatory and not mandatory. 4.2 Distributions Durin!! Administration. Prior to final distribution of my estate, the Executor may make partial distribution to one or more beneficiaries. A distribution may be made subject to any indebtedness or liability of my estate. 4.3 Direct Distributions. Assets of my estate distributable to any trust under this will that are immediately payable to a beneficiary of that trust may be distributed by the Executor directly to that beneficiary. 4.4 Method of Distribution. Except for discretionary distributions which may be made among a group of persons and distributions pursuant to the exercise of a power of appointment, in making a distribution to "descendants" of any person, the property to be distributed shall be divided as follows: (a) one share for each then living child of that person and (b) one share for each deceased child of that person with descendants then living. Each living child of that person shall take one share, and the share of each deceased child shall be divided among his descendants then living in the same manner. 4.5 Needs. In making distributions for the needs of a beneficiary, the trustee may distribute to the beneficiary so much of the trust estate as will provide for that beneficiary's health, support, maintenance, and education in his accustomed manner of living. In making distributions for the needs of a beneficiary, distributions shall be limited to the foregoing ascertainable standard within the meaning of Sections 2514(c)(I) and 2041 (b) (l)(A) of the Code. WILL -4- .. TRUE AND "RRf~-e COpy OF ORIGINAL . Q 3 '."..; FILED IN DALLAS 4 9 GOO 0 8 Q "0'" COUNTY CLERK'S OFFICE ,,' ", y... \.:' ..,.'( " , ARTICLE V PROPERTY PASSING UNDER THIS WILL Under this will I am disposing of all my interest in property over which a person with testamentary capacity would have the power of disposition by will at the time of death. I am not disposing of property that passes upon my death outside this will, such as proceeds of insurance, annuities, and employee benefit plans unless payable to my estate. I am not exercising any power of appointment by any provision of this will. If my Wife survives me, I am not disposing of my Wife's separate property, if any, or my Wife's one-half interest in our community property. ARTICLE VI EXECUTOR 6.1 Appointment. I appoint my Wife, FRANCES R. LANE, and JOHN A. PIOTROWSKI as Independent Co-Executors of this will and of my estate. If JOHN A. PIOTROWSKI fails or ceases to serve, NATIONSBANK OF TEXAS, N.A., a banking association with its principal place of business in Dallas County, Texas, shall serve as Co- Independent Executor with my Wife or as sole Independent Executor, as the case may be. If my Wife fails or ceases to serve as Executor, the other Executor then serving shall serve as the sole Independent Executor. 6.2 Fees. The Executor shall be entitled to (a) reasonable fees commensurate with its duties and responsibilities without regard to any statutory provision as to fees, taking into account the value and nature of my estate and the time and work involved, and (b) reimbursement for expenses incurred in connection with its duties and responsibilities. 6.3 security . Waiver of Bond. No Executor shall be required to furnish bond or other 6.4 Waiver of Liability. No natural person serving hereunder as Executor shall be liable for any act or omission except willful misconduct, gross negligence, or bad faith. WILL -5- 496 000884 ARTICLE VII ADMINISTRATION 7.1 Executor's Powers. The Executor shall have (subject to any limitations stated elsewhere herein), in addition to all powers conferred on executors by law, all powers conferred on trustees by the Texas Trust Code (or any amendments thereto), or any comparable statute. Without limiting the generality of the foregoing authorization, the Executor shall have the further power: A. Retain. To retain any property of my estate; B. Sell. To sell, transfer, convey, exchange, partition, mortgage, pledge, assign, lease, grant options on, or otherwise dispose of, hypothecate, or deal with any and all properties in my estate; C. Borrow or Lend. To borrow or lend money for any purpose and on such terms and conditions as the Executor deems proper and to hold, mortgage, and pledge property for the repayment of same; D. Employ Al!ents. To employ attorneys, accountants, investment advisors, depositories, and agents (fiscal or otherwise), with or without discretionary powers, and to pay all expenses and fees so incurred; E. Indebtedness. To maintain, extend, or renew any indebtedness on such terms and for as long as the Executor deems appropriate; F. Invest. To invest and reinvest any assets of my estate in any properties or investments the Executor deems proper; G. Protect Property. To collect, pay, contest, compromise, or abandon claims in favor of or against my estate, on whatever terms the Executor deems advisable; H. Distributions. To make distributions and to pay pecuniary legacies in money, in kind, or partly in each, and for this purpose the determination of the Executor as to the value of any property distributed in kind shall be conclusive; I. Allocation. To allot different kinds or disproportionate shares of property or undivided interests in property among the beneficiaries without requiring pro rata distribution of assets and without regard to the income tax basis of specific property allocated to any beneficiary; WILL .. TRue A !< COpy O~ IORRECT-., ~_ 9' FILED ORIGINAL -4(., -6- '-, 0' , . CC!JllrTtN DALLAS CBL CLERK'S OFFIce 496 000885 ; <~ !"', . (~ :, ~.~ ,.' ,~1} ;, ,~' .' \ r '" .~. ",~"~ '.. .', "'-'\"~i: '.... ,.>" , , J. Deal with Fiduciaries. To enter into any transaction authorized by this instrument even though any other party to the transaction is (a) a trust of which a beneficiary or trustee under that trust is also an Executor or beneficiary under this will; (b) an estate of which a beneficiary or Executor under this instrument is also an executor, administrator, or beneficiary, including the estates of my Wife and my descendants; (c) a business (in any form), charitable corporation, or trust controlled by a beneficiary or Executor under this instrument of which the beneficiary or Executor or any director, officer, shareholder, or employee of any corporate Executor is also a director, officer, shareholder, proprietor, partner, or employee; or (d) a beneficiary or Executor under this instrument acting individually or in any other capacity. All judgments, decisions, and actions taken reasonably and in good faith by the Executor shall be fiual and binding on all persons interested in my estate, even if the Executor and the representatives or beneficiaries are the same person or persons; K. Hold as Nominee. To hold title in the name of a nominee; L. Elections. To exercise or not to exercise in the Executor's sole discretion any election or option granted to the Executor under this will or by the tax laws applicable to my estate, including without limitation the selection of the date and method of valuation of property in my estate for tax purposes, without regard to the relative interests of the beneficiaries and without compensating adjustments among the beneficiaries of my estate; M. Deduct Expenses. To deduct, in the Executor's sole discretion, all or any part of the expenses of administration of my estate for federal income tax purposes, regardless of the fact that the federal estate tax on my estate is thereby increased or that there is a change in the proportions in which beneficiaries of my estate share in my estate; N. Business Interests. To retain (without liability for any loss occasioned by such retention) or acquire any business interest (whether as a shareholder, security holder, creditor, general or limited partner, proprietor, or otherwise), even if such interest constitutes all or a large portion of my estate; to participate in the management and conduct of any business and to determine all questions of policy to the same extent as could an individual owner of a similar interest in any business; to vote the stock of any business interest; to execute partnership or other organizational agreements and amendments; to participate in the incorporation, reorganization, merger, consolidation, recapitalization, liquidation, or dissolution of any business interest or any change in the nature of such business; to invest additional capital in any business by subscribing to or purchasing additional stock or securities or by making secured, unsecured, or subordinated loans to any business; to elect or employ, at appropriate compensation, those persons deemed necessary (including the Executor or a director, officer, or agent of the Executor) as directors, officers, employees, or agents of any business interest; to rely on, without independent investigation, the reports of certified public accountants as to the operations and financial condition of any business; to carry out and enforce the provisions of any agreement for the disposition of my interest in the business enterprise; and to sell or liquidate any interest in any business. The operation, sale, or liquidation by the Executor in WILL -7- 49& 000886 r .~' i:.:t'; ,.' " good faith shall be at the risk of my estate and without liability on the part of the Executor for any resulting losses; O. Mineral Interests. To retain or acquire any interests in oil, gas, or other mineral resources received from any source without liability for any loss occasioned thereby; to execute any agreements, assignments, contracts, deeds, grants, leases for any term, and any other instruments or documents (even though their term may extend beyond the termination of the trust); to manage, control, operate, explore, mine, develop, or take any other action for the production, recovery, sale, treatment, storage, or transportation of any interest in oil, gas, or other mineral resources; to drill wells of any type; to conduct or participate in secondary recovery operations; to enter into agreements for pooling or unitization; and to install, operate, or participate in the operation of any plant, mine, or other facilities, and generally, with reference to oil, gas, and other mineral interests and operations, to enter into such other agreements and to do all such other things (whether or not presently recognized as common or proper practice by those engaged in the business of prospecting for, developing, producing, processing, transporting, or marketing oil, gas, or other minerals) as the Executor deems to be advantageous; P. Farm and Ranch. To invest or reinvest or hold all or any part of the trust estate or my estate in, and to operate or participate in the operation of any interest in any farm or ranch property that the Executor receives or acquires, at the risk of the trust estate or my estate, for so long as the Executor deems advisable. In addition, the Executor shall have all the powers and discretions granted to the Trustee under the Family Trust. The Executor may exercise these powers for any purpose and on such terms, conditions, and limitations (whether or not they extend beyond the administration of my estate) which, in the Executor's judgment, are in the best interest of my estate. 7.2 Accounting. Any Executor is authorized to accept, without audit, examination, review, or independent accounting, the accounts rendered and the property delivered by or for any predecessor Executor without incurring any liability or responsibility. No Executor shall be liable for any act or omission of any predecessor Executor. 7.3 Out-of-State Properties. If any assets of my estate are at any time situated in a jurisdiction in which an Executor is unable or unwilling to serve, the remaining Executor may serve in that jurisdiction. If no Executor is able or willing to serve in that jurisdiction, the Executors may, by written instrument, appoint an Ancillary Executor (herein so-called) in that jurisdiction who shall have all of the powers and discretions and be entitled to compensation as provided for the Executor herein, except as otherwise provided in the instrument of appointment. An Ancillary Executor shall serve without requirement of bond and be independent of court supervision to the extent allowed by the law of the ancillary jurisdiction. WILL -8- 496 0008~7 \_:,1 ',. ," ;... t; ~ . " , 7.4 Ril!ht to Disclaim. The Executor shall be authorized to disclaim, in whole or in part, any gift or interest (whether present or future) provided for me or my benefit under the will of any person, under any trust instrument, or in any other manner. In addition, any person shall have the right to disclaim, in whole or in part, any gift or interest (whether present or future) granted to that person by this will. A disclaimer of a gift or interest herein shall be made in a manner, and within the time, prescribed for a qualified disclaimer under Section 2518 of the Code. 7.5 Selection of Assets. The Executor's selection of assets to be sold to make tax payments, pay administration expenses, or satisfy any pecuniary legacies, and the tax effects thereof shall not be subject to question by any person. 7.6 Limitations Rel!arding Insurance. Notwithstanding any provision contained herein, while my Wife is serving as Executor hereunder, all incidents of ownership, right, title, interest, and powers in and to any policies of insurance subject to the provisions of this instrument insuring the life of my Wife shall be held, exercisable, and exercised by the other Executor or Executors serving hereunder as if my Wife were not serving as Executor. If my Wife is serving as the sole Executor hereunder, the Trustee other than my Wife serving under the Family Trust shall exercise those powers and discretions. 7.7 Limitation on Court Supervision. I direct that no action shall be required in any court in relation to the settlement of my estate other than the probating and recording of this will and, if required, the return of an inventory, appraisement, and list of claims of my estate. 7.8 Marital Deduction. A. Tax Election. The Executor may elect to have all or a specific portion of my estate treated as qualified terminable interest property for the purpose of qualifying for the marital deduction allowable in determining my federal estate tax. Without limiting the Executor's discretion, it is my expectation that the Executor will elect to minimize the estate tax payable by my estate unless such election appears to be inappropriate because of (a) the timing of the deaths of my Wife and me and the computation of the combined death taxes in our two estates, or (b) my Wife's age or condition of health at the date of my death. The Executor shall not be liable for the exercise of or failure to exercise the election. The foregoing power is intended to be entirely discretionary and the determination of the Executor with respect to the exercise of the election shall be conclusive on all persons interested in my estate. B. Saving Clause. Except as provided in Subsection A above, the Executor shall not exercise any power or discretion in any manner which would disqualify any gift to my Wife or to TRUST M of the Family Trust for the federal estate tax marital deduction. All provisions of this will are subordinate to this requirement. WILL -9- .-Mt CBL ~96 000888 7.9 Dele!!ation of Duties Amon!! Executors. When more than one Executor is serving hereunder, any individual Executor may delegate to a Co-Executor, by written instrument filed with the other Executor, any powers, authority, and discretion, including the power to convey real property. Deposits and withdrawals shall be made on estate bank accounts and other commercial accounts in such manner as may be agreed on by the Executors from time to time as evidenced by the execution of the signature cards. Any person dealing in good faith with the person to whom such powers have been delegated may rely on such fiduciary's certificates with respect to any delegation without further inquiry. ARTICLE vm APPORTIONMENT OF LEGAL OBLIGATIONS AND TAXES 8.1 Payment of Expenses. Except as otherwise provided by this will, the Executor shall pay from my residuary estate (or extend and renew as the Executor determines to be in the best interest of my estate) my funeral expenses, expenses of administration of my estate, and my legally enforceable debts and obligations. 8.2 Payment of Taxes. A. Estate and Inheritance Taxes. Except as otherwise provided in Subsection B below, all federal and state estate and inheritance taxes on or with respect to any property required to be included in my gross estate for estate or like tax purposes, whether or not passing under this will, shall be charged against my residuary estate and may be paid in the order and out of those assets of my residuary estate that the Executor deems best without reimbursement from any person, even though such taxes or a part thereof may be by law imposed on, or payable by, the recipient of such property. B. Special Transfer Taxes. All transfer taxes arising as a result of my death and in connection with (a) any recapture of estate taxes under Section 2032A of the Code (b) any generation-skipping tax imposed by Chapter 13 of the Code or (c) any excess accumulations tax under Section 4980(A) of the Code, or corresponding provisions of state law, shall not be paid by my estate but shall be paid as provided under the applicable provisions of the Code or state law. All transfer taxes imposed on property includable in my gross estate by reason of Section 2044 of the Code or corresponding provisions of state law shall not be paid by the Executor or, ifrequired to be paid, shall be recovered by the Executor from the person or entity in possession of or receiving that property as provided in Section 2207 A of the Code or corresponding provisions of state law. C. Interest and Penalties. Interest and penalties concerning any tax shall be paid and charged in the same manner as the tax. 496 000889 ~., ~~ CBL WILL 8.3 Funds from Family Trust. In obtaining funds to pay these expenses and taxes, the Executor may enter into any transaction authorized by this will with the Trustee of the Family Trust or request all or part of the necessary funds from the Trustee. If the Trustee of the Family Trust has the authority to pay part or all of the expenses and taxes and indicates a desire to do so, then the Executor may allow the Trustee to make those payments. ARTICLE IX DEFINITIONS 9.1 Code. All references in this will to the "Code" mean the Internal Revenue Code of 1986, as amended, and refer to corresponding provisions of subsequent federal tax laws. 9.2 Descendants. All references in this will to "descendants" are to the lawful children of the person designated and the lawful lineal descendants of such children, including any person adopted through court proceedings, but any adopted person other than a child of mine shall be included only if adopted when under the age of 14 years. A child in gestation who is born alive shall be considered a descendant in being throughout the period of gestation. 9.3 Executor. All references in this will to "Executor" are to those persons appointed Independent Executor in this will while serving hereunder and shall also include any Co-Executor or successor Executor, whether individual or corporate, unless another meaning is clearly indicated or required by context or circumstances. Except as otherwise provided herein, all powers and discretions conferred on the Executor shall be vested in and exercisable by any Executor. References to "Executor" shall not limit or alter the applicability of any statute or rule of law which permits fewer than all Executors to act without the joinder of all. 9.4 Family Trust. All references in this will to the "Family Trust" mean the LANE FAMILY TRUST previously signed on the date of this will by my Wife and me as Settlors and Trustees, as now provided and as later amended. 9.5 Heirs. All references in this will to the "heirs" ofaperson mean those persons other than creditors who would have inherited the personal property of that person were he to have died intestate, a single person without descendants, domiciled in Texas, under the laws of Texas in force on the date of my death, the shares and proportions of inheritance to be determined by such laws. 9.6 Incapacitated. All references in this will to "incapacitated" mean any physical or mental condition of a person which substantially impairs his ability to conduct regular business affairs. Such condition shall be evidenced (a) by written certificates, filed with the Executor, of two board-certified doctors of medicine who have observed or examined that person; or (b) in any other manner provided by law. WILL -11- p"??~ CBL " 496 000890 - .<; .]1 \'f' .\ ./ J.!:. \1.. "!' ..-~.. r .~ ~< -: .-,' 9.7 Marital Deduction. All references in this will to the "marital deduction" are to the deduction allowed under Section 2056 of the Code. 9.8 Personal Effects. All references in this will to "Personal Effects" are to all my intimate personal effects (such as my jewelry, clothing, books, china, crystal, and silverware), furniture and furnishings, objects of art, automobiles, boats, club memberships, and all other personal property of a nature, use, and classification similar to the foregoing, subject to any indebtedness thereon and together with the proceeds of any insurance policies relating thereto in the event of theft or other loss. The determination of which items constitute Personal Effects where there is reasonable doubt or uncertainty shall be in the sole judgment of the Executor, whose decision shall be conclusive on all concerned. The Executor may make a binding and conclusive resolution of any reasonable doubt or uncertainty as to whether the term Personal Effects includes any particular asset or assets. 9.9 Residence. All references in this will to "Residence" mean my interest in the real property and improvements thereon which is my principal Residence (herein so called) at the time of my death, subject to any indebtedness secured by the Residence together with all rights that I may have under any insurance policies relating thereto. The determination by the Executor of the property that constitutes the Residence shall be binding and conclusive on all persons. 9.10 Trustee. All references in this will to "Trustee" are to those persons appointed Trustee in the Family Trust while serving thereunder and shall also include any Co-Trustee or successor Trustee unless another meaning is clearly indicated or required by context or circumstances. ARTICLE X GENERAL PROVISIONS 10.1 Will Not Contractual. This will is not being executed pursuant to or as part of any contract, and I am free to revoke or change this will at any time. 10.2 Survivorship. For purposes of this will, no person shall be deemed to have survived me if that person dies within 30 days of my death. 10.3 Provisions for All Descendants. Under this will I am providing for all my descendants in the manner and to the extent I desire, including any later born or adopted descendants . 10.4 Status of Silmature Copv. Only one set of the pages constituting this will has been signed. The instrument bearing my signature and those of the witnesses in the places WILL -12- ~~ CBL , 496 00089\ ,-,. 'dO " ? "\ n ~c~- \t,\ \-\ '-! r ) , ~.~ " . .'!.,' I': , indicated shall be deemed the original even though this will (other than the signatures) may have been produced in whole or in part by the use of printing or copying machines. 10.5 Titles Headin!!s. and Captions. All titles, headings, and captions used in this will are for convenience only. Any conflict between the headings and text shall be resolved in favor of the text. I have signed my name in the presence of the witnesses who sign below and are acting as witnesses at my request, this Itfh.J t'.r; t' '?<;'0 . ~.<~~ CONNIE B. LANE We, the undersigned persons, of lawful age, have on this DEe I 5 1993 , at the request of CONNIE B. LANE witnessed his signature to the foregoing will in the presence of each of us; and we have, at the same time and in his presence and in the presence of each other, subscribed our names hereto as attesting witnesses. ~~ d,(OMI1.11 WITNS "'-' ADDRESS: 12221 MERIT DRIVE SI:IITE 1219 DALLAS, TEXAS 75251 t~ "1).~ TNESS ADDRESS: ""1 MFRIT flmVE SUITE 1210 OAr LAS, TFXA~ 7.1i?!,;! 34968JMM WILL -13- CBL 496 000892 SELF-PROVING AFFIDAVIT STATE OF TEXAS ) COUNTY OF DALLAS ) BEFORE ME, the undersigned authority, on this day personally appeared CONNIE B. LANE, -rTf'"FAlJl/ FP...83M.f}.tJ , and7o..... \r"~ D. f'<\a.(' ~S , known to me to be the Testator and the witnesses, respectively, whose names are subscribed to the annexed or foregoing instrument in their respective capacities; and all of said persons being by me duly sworn, the Testator declared to me and to the witnesses in my presence that said instrument is his will, and that he had willingly made and executed it as his free act and deed; and the witnesses, each on his oath, stated to me in the presence and hearing of the Testator that the Testator had declared to them that said instrument is his will, and that he executed same as such and wanted each of them to sign it as a witness; and on their oaths each witness stated further that they did sign the same as witnesses in the presence of the Testator and at his request, that he was at that time eighteen years of age or over and was of sound mind, and that each of the witnesses was then at least fourteen years of age. ~~~ CONNIE B. LANE ~iLn {~ t4u Lrn'1u1. -:> ~(l~ D. m<YJb ~~ESS SUBSCRIBED AND SWORN TO before me b? CONNIILB. LANE, Testator, and by thesaid \If'"~fHJ\( P"RJ;:k:MAfJ and a..'-'\t">. D. rna..("~S , witnesses, this Dee I::; ,~gJ ), J ~ "i ,-,,_' t"" \: '. -!',,\ ]~.~ No Public in Texas ~r/~~ . .' 496 000893 /.00"'''' TRUE ANO . : E Copy OF fIORRECT . . FI ORJGINAL '~, .~ LEO IN DALLAS M" COUNTY CLERK'S OFFICE