HomeMy WebLinkAbout06-23-09 � 15056051058
REV-1500 EX(06-05) OFFICIAL USE ONLY
PA Department of Revenue County Code Year File Number
Bureau of Individual Taxes � INHERITANCE TAX RETURN
PO BOX 280601 �I �$ , l� ��
Harrisburg,PA 17128-0601 RESIDENT DECEDENT
ENTER DECEDENT INFORMATION BELOW
Social Security Number Date of Death Date of Birth
' 204- ' 09/24/2008 08/18/1925
DecedenYs Last Name Suffix DecedenYs First Name MI
' LANDIS _ ' MILLARD W
(If Applicable)Enter Surviving Spouse's Information Below
Spouse's Last Name Suffix Spouse's First Name MI
LANDIS ' MARTHA M '
Spouse's Social Security Number
THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
' 202-20-3�53 REGISTER OF WILLS
FILL IN APPROPRIATE OVALS BELOW
'�;, 1.Original Return C'":".;� 2.Supplemental Return �;;�.._: 3. Remainder Retum(date of death
prior to 12-13-82)
`"� 4. Limited Estate € ,'::n;, 4a. Future Interest Compromise(date of . .... 5. Federal Estate Tax Retum Required
death after 12-12-82)
=;.��s 6. Decedent Died Testate »�:' 7. Decedent Maintained a Living Trust _ 8. Total Number of Safe Deposit Boxes
(Attach Copy of Will) (Attach Copy of Trust)
�`:';.� 9.Litigation Proceeds Received t �". 10.Spousal Poverty Credit(date of death 11. Election to tax under Sec.9113(A)
between 12-31-91 and 1-1-95) (Attach Sch.O)
CORRESPONDENT- THIS SECTION MUST BE COMPLETED.ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED T0:
Name Daytime Telephone Number
__ _ __
_ __
Taylor P Andrews, Esq (717) 243-0123
_ _
Firm Name(IfApplicable) -.. - ._d__ _.. ��_.... �,_ _- __.__,
_ - REGISTER OF WIILS USE ONLY
Andrews and Johnson ' RECORDED OFFICE OF
REGISTER OF�Y�ILLS
First line of address 2009 JUNE 23 ��
' 78 W. Pomfret St ' CLERK OF
ORPH�NS'COURT
Second line of address CU�iBERL��ND CO.,P.�
_. _
_ _ State ZIP Code _ DATE FILED __ '
City or Post Office _ _ _ : .
Carlisle PA 17013
CorrespondenYs e-mail address:
Under penalties of perjury,I declare that I have examined this return,including accompanying schedules and statements,and to the best of my knowledge and belief,
it is true,correct and complete.Declaration of preparer other than the personal representative is based on all information of which preparer has any knowledge.
SIGNATU F PER ON RESPONSIBLE F FILING RETURN DATE
� l� - � '��-�
A SS
813 N r isl , PA 013
O'P R THER AN REPRESENTATIVE � �
�,— ' �
AD SS
7 W P mfret St, Carlisle, PA 17013
PLEASE USE ORIGINAL FORM ONLY
�ide 1
� 15056051058 15056051058 �
�
� 15056052059
REV-1500 EX DecedenYs Social Security Number
MILLARD W LANDIS ' 204-
.� . _.._.,_. _..___,_�
_�......._.____ __�..__.�_�... _.....�.,_. _.._._.�._..
RECAPITULATION
1. Real estate(Schedule A). �. 0.00
2. Stocks and Bonds(Schedule B) 2, 0.00
3. Closely Held Corporation,Partnership or Sole-Proprietorship(Schedule C) . .. .. 3. 0.00
4. Mort a es&Notes Receivable Schedule D 4. ' 0.00
9 9 ( ).. ... . .. . . ... . .... . .. .. . . . .. . _
5. Cash,Bank De osits&Miscellaneous Personal Pro ert Schedule E 5. 0.00 ,
p P Y( ) .. .. .. . .
6. Jointly Owned Property(Schedule F) Separate Billing Requested .. .. .. . 6. 18,335.32
_
7. Inter-Vivos Transfers&Miscellaneous Non-Probate Property 9Q2,175.76 '
(Schedule G) �_.._-= Separate Billing Requested.. . .. .. . 7.
8. Total Gross Assets(total Lines 1-7). .. .. .. . .. . ... . ... .... ... . . .. . .. .. .. 8. 1,010,511.08
9. Funeral Expenses&Administrative Costs(Schedule H).. .... . ..... . . .. .. . . . 9.
10. Debts of Decedent,Mortgage Liabilities,&Liens(Schedule I). . .. . .. . .. . . .. . . 10. '
11. Total Deductions(total Lines 9&10). . .. .. . .. . . . ... . . ... . ... . .. .. . . . . .. 11. '
12. Net Value of Estate(Line 8 minus Line 11) . .. ... .... ... .. . .. . .. ... .. . .. . 12. ' 1,010,511.08
13. Charitable and Governmental Bequests/Sec 9113 Trusts for which
an election to tax has not been made(Schedule J) . ... ... .. ... . .. . .. ..... . 13. , 0.00 ,
14. Net Value Subject to Tax(Line 12 minus Line 13) ... . .. . .... . . .. ... .. .. . . 14. 1,010,511.08
�TAX COMPUTATION-SEE 1.� . �. .�. ��._,.,,,,.. �-_�.. ___,.r� __.. __.T�.. .,,..__ ..__.�..
� NSTRUCTIONS FOR APPLICABLE RATES
15. Amount of Line 14 taxable
at the spousal tax rate,or
transfers under Sec.9116 ' 0.00
(a)(1.2)X.0 0 1,010,511.28 15. '
16. Amount of Line 14 taxable ', :
at lineal rate X.0_ , 16. ,
17. Amount of Line 14 taxable ' '
at sibling rate X.12 .. 17. .
18. Amount of Line 14 taxable
at collateral rate X.15 18. .
19. TAX DUE ........ . .. ... .. .. .. .. . .. .. .. .. . ... ... . . ... . ... ... .. . .. . . 19. _
20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT '�--�
15056052059 Side2 15056052059
� �
REV-1500 EX Page 3 _ , File Numbgr __
Decedent's Complete Address: _
_.
DECEDENT'S NAME DECEDENT'S SOCIAL SECURITY NUMBER
MILLARD W LANDIS 204-01-6169
STREET ADDRESS
813 Nesbit Dr
CITY STATE Z�P
Carlisle PA 17013
Tax Payments and Credits:
1. Tax Due(Page 2 Line 19) (1) 0.00
2. Credits/Payments 0.00
A.Spousal Poverty Credit
B.Prior Payments 0.00
C.Discount 0.00
Total Credits(A+g+C) (2) 0.00
3. InteresUPenalty if applicable 0.00
D.Interest
E.Penalty 0.00
Total InteresUPenalty(D+E) (3) 0.00
4. If Line 2 is greater than Line 1 +Line 3,enter the difference. This is the OVERPAYMENT.
Fill in ovai on Page 2,Line 20 to request a refund. �4)
5. If Line 1 +Line 3 is greater than Line 2,enter the difference.This is the TAX DUE. (5) 0.00
A.Enter the interest on the tax due. (5A)
B.Enter the total of Line 5+5A.This is the BALANCE DUE. (56) 0.00
Make Check Payable to: REGISTER OF WILLS, AGENT
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PLEASE ANSWER THE FOLLOWING QUESTIONS BY PLACING AN "X" IN THE APPROPRIATE BLOCKS
1. Did decedent make a transfer and: Yes No
a. retain the use or income of the property transferred:.......................................................................................... � �
b. retain the right to designate who shall use the property transferred or its income:............................................ � �
c. retain a reversionary interest;or.......................................................................................................................... ❑ �
d. receive the promise for life of either payments,benefits or care?...................................................................... � �
2. If death occurred after December 12,1982,did decedent transfer property within one year of death
without receiving adequate consideration?.............................................................................................................. ❑ �
3. Did decedent own an"in trust for"or payable upon death bank account or security at his or her death?.............. � ❑
4. Did decedent own an Individual Retirement Account,annuity,or other non-probate property which
containsa beneficiary designation? ........................................................................................................................ ❑ 0
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES,YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN
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�^ 'e a ,�°'�3,�..���,`, �IF,�i�`r ����,,,, ! . �rr�.:� . ,,,: -., =', .'"'. :,;, ,.".� n«`;.. ,. .'":,. .:;��` i�x. �;, ..�.� "".:�c"�.� -,7�,.,;, . . , .
For dates of death on or after July 1, 1994 and before January 1, 1995,the tax rate imposed on the net value of transfers to or for the use of the suNiving spouse
is three(3)percent[72 P.S.§9116(a)(1.1)(i)].
For dates of death on or after January 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is zero (0) percent
[72 P.S. §9116(a) (1.1) (ii)]. The statute does not exempt a transfer to a surviving spouse from tax, and the statutory requirements for disclosure of assets and
filing a tax return are still applicable even if the surviving spouse is the only beneficiary.
For dates of death on or after July 1,2000:
The tax rate imposed on the net value of transfers from a deceased child twenty-one years of age or younger at death to or for the use of a natural parent, an
adoptive parent,or a stepparent of the child is zero(0)percent[72 P.S.§9116(a)(1.2)].
The tax rate imposed on the net value of transfers to or for the use of the decedenYs lineal beneficiaries is four and one-half(4.5) percent, except as noted in
72 P.S.§9116(1.2)[72 P.S.§9116(a)(1)].
The tax rate imposed on the net value of transfers to or for the use of the decedent's siblings is twelve(12)percent[72 P.S.§9116(a)(1.3)].A sibling is defined,under
Section 9102,as an individual who has at least one parent in common with the decedent,whether by blood or adoption.
SCHEDULE G
TRANSFERS
ESTATE OF FILE NUMBER
MILLARD W. LANDIS
This schedule to be completed and filed if the answer of the question on the reverse of the cover is yes.
ITEM DESCRIPTION OF PROPERTY TOTAL VALUE DECD.% EXCLUS1oN TAXABLE
INCLUDE THE NAME OF THE TRANSFEREE.THEIR RELATIONSHIP TO DECEDENT
NUMBER AND THE DATE OF TRANSFER.ATTACH A COPY OF THE DEED FOR REAL ESTATE OF ASSET INT (if applicable) VALUE
The following assets were held by the Miilard
W.Landis Living Trust. All assets are allocated
to the Survivor's Trust for benefit of Martha M.
Landis,surviving spouse:
1 Edward Jones Investments $353,508.43 100.0% 0.0% $353,508.43
report to Sept 26,2008 attached
2 Smith Barney Investments $455,577.92 100.0% 0.0% $455,577.92
report as of Sept 24,2008 attached
3 Wachovia Bank NA time dep 24 740 204 3481497 $56,275.58 100.0% 0.0% $56,275.58
4 Delaware Investments $4,766.46 100.0% 0.0% $4,766.46
5 Undivided 1/2 interest in residence at $196,988 50.0% 0.0% $98,494.20
813 Nesbit Dr.,Carlisle, PA
Copy of deed attached
tax assessment: $156,340
common level ratio: 1.26
6 Union Central Annuity $23,553.17 100.0% 0.0% $23,553.17
Paid to Martha M.Landis
TOTAL(also on line 7,Recapitulation) $992,175.76
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�� P.o.so��oots AutomaticRenewal Notice
Roanoke,VA 24040-�018
WAC�IOVIA
January 1, 2009
DETAIL INFORMATION
Open Date: 06/30/U8
010996 CDRTA001
�� MILLARD W LANDIS LVG TRST DTD 5/6/ Maturity Date: 01/30/09
`� MARTHA E LANDIS, TRUSTEE
— � MARTFiA E LANDIS,TRUSTEE Maturity Value*: $56,275.58
� � 813 NISBET DR ,
= CARLISLE PA 17013
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— accaunt will automatically renew for 7 months iwless you change the term,add to,or redeem 3�our account by
— 02/06/09. Interest after O1/30/09 will be earned if the funds are rene�ved or reinvested in anv Wachovia account.
�=' The maturity date for the renewed account will be 08/30/09 and the rate will be based on a minimum balance
–= requirement of$50,000. The account eams da.ily compounded interest paid every l months. 'The renewal uiterest
� rate and annual percentage yield will be available on or after 02/02/09 and can be obta�ned by visiting your nearest
� Wacho«a Financial Center or by calluig 866-GET RATE{866-438-7283). We welcome the opportumty to further
�' discuss your invesiment needs. *Mahu-ity value may not include recent activity.
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Wachovia Bank of Delaware,N.A.
are Members FDIC.
Delaware � lnvestment U date�
Investments p
A member of tincoln Financia(Group
aT 02 �51165 08164H261 A�3DGT January 1,2008-September 30,2008 Page 1 of 4
Your Financial Advisor
MILLARD W LANDIS HOUSEACCOUNT
TRST MILLARD W LANDIS LIVING TRUST DELAWARE DISTRIBUTORS L.P.
U/A DTD 5-6-96 2D05 MARKET ST FL 4
813 NESBIT DR PHILADELPHIAPA 19103-7042
CARLISLE PA 17013-1732
Branch Office Gode 0000500 WUB 0001
i�ili�i�lil��n�l�llln��������li�l�lil�inn�i�lilli����i����ln
Account Services
AccountService 800523-1918 8a.m.-7p.m.ETMon.-hi. WBbslte www.delawareinvestments.com
Delaphone 800362-FUND (3863) 24hours,Idaysaweek RegularMail Delaware Investments
See Reverse forinswc6ons. P.O.BoX 219691
E-mail service�delinvest.com Kansas Ci1y,MO 64121-9691
Por�tfolio Summary Year to Dafie
Regular Account Activity Summary
Fund Neme Imesunents/ Withdrewals/ Reinvested Cheng�in _
FundCode/AccountNo. 8egianingVelue + Addi6ons Heductions Eamings MarkatValue — EndingValua
� lY;a:rare-9Z-lar�e;�Fvnd'R�1ass--- .- ._,,.,_.____ ._,� ---_
007J5023278350 55.779.18 0.00 0.00 � 0.00 f1,012.72) --- 54.766.46
► RegularTotal 55.779.18 0.00 0.00 0.00 (1,012.72) 54.766•46
Yearto date Total 55,779.18 '� SO.OU 50.00 $D.00 (51,012.72) _ $4.766.46
Quarterto DateTotal �,ias.s� + �o.00 �o.� �o.� (�so.n1 = �a,�ss.as
Your Personal Portfolio Rate of Return is Yearw Oate (16.U4►% Inc�ption' il�/te�s 5.42 %
Your personal rate of return represents the performance of all the investment(s)you have selected for your portfolio,including 6oth your Regular Investment
account�s)and Retirement accountls).The calculation includes any front-end sales charges and all activity in your portfolio(such as contributions,exchanges
among investment options,etc.)using daily share price in effectwhen the activity occurred. Due to applicable sales charges and the timing of your investments and
withdrawals your personal investment results will generally not be the same as the inves[ment retums quoted for the individuat funds you have chosen. If you have
questions,please call aur shareholder service center at 800 523-1918 or e-mail service�delinvestcom.
*for accounts established prior to 1995,a January 3,1995 inceptian date will be used to calculate individual performance. Performance since inception is annualaed.
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II�IIIIIII�IIIIIIIIIIIIIIIIIIIIIIII 1 2 6 051165/0000001
6 5 1 6 4
�-1��a� � J����n.�,��
THIS DEED,
MADE THE ���' day of October in the year two thousand and two (2002),
BETWEEN BENNIE SUE DUPY, by her hereinafter named attorney in fact,
DIANN DRAKE, adult authorized by a durable Power of Attorney,dated January 14, 1997
and recorded in Miscellaneous Book(�� , at Page 3a� , Grantor,
AND MILLARD W. LANDIS AND MARTHA M. LANDIS, Trustees, or their
successors in trust, under the Millard W. Landis Living Trust dated May 6, 1996 and Martha M.
Landis and Millard W. Landis, Trustees, or their successors in trust, under the Martha M. Landis
Living Trust dated May 6, 1996 and any amendments thereto, as Tenants in Common,hereinafter
called Grantees:
WITNESSETH, that in consideration of the sum of One Hundred Forty Nine Thousand
Nine Hundred and no/100 ($149,900.00) Dollars, the receipt whereof is hereby acknowledged,
the said Grantor does hereby grant and convey unto the said Grantees, their successors and
assigns,
ALL that certain tract of land with the improvements thereon situate in the Fourth Wazd
of the Borough of Carlisle, Cumberland County, Pennsylvania,being Lot No 19, Section H, Plan
4 of Meeting House Heights, recorded in the Cumberland County Recorder's Office in Plan
Book 23,page 137,more particularly bounded and described as follows:
BEGINNING at a point on the northern side of Nesbit Drive as it appears on the
hereinbefore mentioned Plan of Lots on the dividing line between Lots Nos. 19 and 20, of
Section H, on said Plan; thence along said dividing line North 3 degrees 17 minutes 30 seconds
West, a distance of 115 feet to a point in line of other lands of Craig Corporation; thence alorig
said other land of Craig Corporation,North 86 degrees 42 minutes 30 seconds East, a distance of
123.93 feet to a point on the dividing line between Lots Nos. 18 and 19, of Section H on said
Plan; thence along said dividing line, South 10 degrees 7 minutes West, a distance of 125.37 feet
to a point on the northern side of Nesbit Drive; thence along the northern side of Nesbit Drive by
a curve to the left having a radius of 255 feet, a distance of 59.68 feet to a point; thence along
the same, South 86 degrees 42 minutes 30 seconds West, a distance of 35.72 feet to a point, the
Place of BEGINNING.
BEING improved with a seven room ranch type dwelling known as 813 Nesbit Drive.
_„ . ��� "r�!�
;i.K ',�_= f i+�
Under and subject to restrictions in Miscellaneous Book 177, Page 874 and to the
following restriction:
No trailer, camper, recreation vehicle, truck or commercial vehicle shall be parked on the
premises for any extended period of time except under cover or screened from view.
BEING the same property which Stewart D. Beattie and Nancy E. Beattie, his wife,
granted and conveyed to Bennie Sue Dupy, Grantor herein, by deed dated May 17, 1982 and
recorded in the Office of the Recorder of Deeds for Cumberland County in Deed Book T Volume
29, Page 894. .
AND the said Grantor hereby covenants and agrees that she will warranty specially the
property hereby conveyed.
IN WITNESS WHEREOF, said Grantor has hereunto set her hand and seal the day,
month and year first above written.
Signer� Sealed and Delivered
in tlze presence of
� � .
AL)
BENNIE SUE DUPY, BY HER
n ATTORNEY IN FACT
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COMMONWEALTH OF PENNSYLVANIA .
:SS:
COUNTY OF CUMBERLAND .
On this, the /6"' day of ��tv-(��- , 2002, before me the undersigned officer,
personally appeared DIANN DRAKE, known to me (or satisfactorily proven) to be the person
whose name is subscribed to the within instrument as attorney in fact for BENNIE SUE DUPY,
and acknowledged that she executed the same as the act of her principal.
,:�,�+tt�.
�' ,;,���'� °�� ����TNESS WHEIZEOF I hereunto set m hand and seal.
wy.�� Fi�
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�,�:t���`� � . Notarial Scal
w.• �, r5,�'�-�- � Roger B. Irwin, Notary Pubiic � l„Q
^��" t �. Cariisle Boro, Cumberland Count (
i M �' ' ''0`'�' M Commission Expires Oct. 3, 2004 �`'
rtYs n . h.�v.�'�f�r;.•�+? re,C Y � (SEAL)
"��y . ,�,4r��;�r��,�'` Member,PennSylvaniaAssociationofNotaries NotaryPub c
I do hereby certify that the precise residence and complete post o fice address of the
within named Grantees is: ��� ��,o���� `/v� �,r�/S�j �� �7'Q/�
D !o , 2002
ttorney for Gra
IR WIN, McKNIGHT&HUGHES
.44 TTORNEYS
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The Union Central 1876 Waycross Road
Life Insarance Company Cincinnali Ohio 45240
(513)595-2200
vnvw.unioncentral.com
u ionc;en��
insurxnce and In�estmenu
AUNIFICompany - . . � .
December 5,2008
MARTHA:�I;LANDIS Re:Millazd W La.ndis
813 NESBTT DRI�TE A61:121057C
CARLISLE PA 37013
'Dzar Mrs. Landis:
_ ____._ .r,__. __.-_.__ –_ .—.—= -
Enclosed is our check for$21,283.03,representing the proceeds of the contractlisted by number at tfie
beginning of this letter. The check includes interest on claims in the amount of$85.18. Interest was paid
from the day after the Iast monthly payment was mail to`Mr.Landis to the date of payment.As requested,
ti�e have i��ithtzeld$2,35532 for Federal Income Ta�c Withholding.
. This deferred annuity poIicy tivas designed to provide annuity income benefits upon election;however,
the annuitant died prior to this election and, as a iesult,the vaIue of the contract is now payable in a'lump
sum. Under the current Intemal Revenue code,that portion of the value of the contract which exceeds
'the cost of the contract-the net premiums paid-is taxable to the recipient as ordinary income. We
calculated this excess'or profit as$23;553.17.
If you should have any questions concerning this contract,please do not hesitate to contact this office.
Our toll-free number is 1-800-319-6302.
Respectfully,
__ _��_ �or'T.�o.,�,�� -
Diana Kortekamp,ACS,FLHC
Senior Claim Examiner
Individual Life Claims
Enclosures:
Check for$21,283.03 payable to Martha M Landis
cc:-Agency# 1691 Michael J Garofalo Jr.
Securities offered through afliliate Ameritas
Investment Carp.,Member FINRAiSIPC.
SCHEDULEJ
BENEFICIARIES
FILE NUMBER
ESTATE OF
MILLARD W. LANDIS
ITEM NAME AND ADDRESS OF BENEFICIARY RELATIONSHIP AM OUNE�ATE A�
Do Not List Trustee(s)
NUMBER
I TpXP.BLE DISTRIBUTIONS[include outright spousal distribulions.and transfers undcr Sec 9ll((a)(12)�
1 Martha M.Landis
Wife $18,335.32
2 Survivor's Trust for benefit of Martha M. Landis
Wife balance of estate
II NON-TAXABLE DISTRIBUTIONS:
A.SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE
B.Charitable and Governmental Bequests:
TOTAL CHARITABLE AND GOVERNMENTAL BEQUESTS(also enter on line 13,Recapitulation)
�0
Last Will
of
MILLARD W. LANDIS
I, MILLARD w. LANDIs, a resident of Cumberland County, Pennsylvania, declare that this is my
will. I hereby revoke all my previous wills and codicils.
Article One
Introductory Provisions
Section 1. Marital Status
I ain currently maxried to MARTHA M. LANDis, and all references to my spouse in this will are
to her.
Section 2. Children
a. The name(s) and birth date(s) of my children:
Name Birth date
MILLARD WILLIAM LANDIS April 15, 1947
JAMES E. LANDIS July 31, 1948
All references to my children in this instrument are to these children and any
children subsequently born to or adopted by me.
1
Article Two
Appointment of My Personal Representatives
Section 1. Nomination of My Personal Representatives
I appoint the following to be my Personal Representative:
MARTHA M. LANDIS
If for any reason the Personal Representative(s) named above are unable or unwilling to serve,
the following successor P�rsar.al Representative�s) shal? servP until the successor Personal
Representative(s) on the list have been e�austed. Unless otherwise specified if Co-Personal
Representatives are serving, the next following named successor Personal Representative shall
serve only after all of the Co-Personal Representatives cease to act as Personal Representatives.
(1) MILLARD WILLIAM LANDIS, AND
(2) JAMES E. LANDIS, OR THE SURVIVOR OF THEM, THEN
(3) MALIEKA T. LANDIS AND
(4) JOSHLJA Q. W. LANDIS, OR THE SURVIVOR OF THEM
Section 2. Waiver of Bond
No bond or undertaking shall be required of any Personal Representative nominated in my will.
Section 3. General Powers
My Personal Representative shall have full authority to administer my estate under the laws of
the Commonwealth of Pennsylvania relating to the powers of fiduciaries. My Personal
Representative shall have the power to administer my estate under the Pennsylvania Probate,
Estates and Fiduciaries Code.
2
Article Three
Disposition of My Property
Section 1. Distribution to My Revocable Living Trust
I give all of my property of whatever nature and kind and wherever located to my revocable
living trust of which I am the Trustor known as:
MILLARD W. LANDIS and MARTHA M. LANDIS, Trustees, or their successors in
trust, der he MILLARD W. LANDIS LIVING TRUST dated
MA�� 159� �,,�d any �u�er�dments thereto
Section 2. Alternate Disposition
If my revocable living trust is not in effect for any reason, I give all of my property to my
Personal Representative under this will as Trustee who shall hold, administer and distribute my
property as a testamentary trust the provisions of which are identical to those of my revocable
living trust on the date of execution of my will.
Article Four
Death Taxes
Section 1. Definition of Death Taxes
The term "death taxes" as used in my will shall mean all inheritance, estate, succession and other
similar taxes t?lat are payable by any person on account of that person's interest in the estate of
the decedent or by reason of the decedent's death including penalties and interest but excluding
the following:
a. Any addition to the federal estate tax for any "excess retirement
accumulation" under Internal Revenue Code Section 4980A.
3
b. Any additional tax that may be assessed under Internal Revenue Code
Section 2032A.
c. Any federal or state tax imposed on a generation-skipping transfer as
that term is defined in the federal tax laws unless the applicable tax
statutes provide that the generation-skipping transfer tax is payable
directly out of the assets of my gross estate.
Section 2. Payment of Death Taxes
Pursuant to the terms of my revocable living trust all death taxes whether or not attributable to
property inventoried in my probate estate shall be paid by the Trustee from that trust. However,
if that trust does not exist at the time of my death or if the assets of that trust are insufficient to
pay the death taxes in full, I direct my personal representative to pay any death taxes that cannot
be paid by the trustee from the assets of my probate estate by prorating and apportioning those
t�es among the beneficiaries of this will.
Notwithstanding any other provision in my trust all death taxes incurred by reason of assets
transferred outside of my trust or probate estate shall be assessed against those persons receiving
such property.
Article Five
General Provisions
Section 1. No Contest Clause
If any person or entity other than me singularly or in conjunction with any other person or entity
directly or indirectly contests in any court the validity of this will including any codicils thereto
the right of that person or entiTy to take any interest in my estate shall cease and that person or
entity shali be deemed to have predeceased me.
Section 2. Captions
The captions of Articles, Sections and Paragraphs used in this will are for convenience of
reference only and shall have no significance in the construction or interpretation of this will.
4
Section 3. Severability
Should any of the provisions of my will be for any reason declared invalid such invalidity shall
not affect any of the other provisions of this will, and all invalid provisions shall be wholly
disregarded in interpreting this will.
Section 4. Governing Law
This will shall be construed, regulated and governed by and in accordance with the laws of the
Commonwealth of Pennsylvania.
I signed this, my last will, on �AY 6 1996
_ ,
MILLARD W. LANDIS
5
The foregoing Will was, on the day and year written above, published and declared by
MILLARD W. LANDIS in our presence to be his Will. We, in his presence and at his request,
and in the presence of each other, have attested the same and have signed our names as attesting
witnesses.
We declare that at the time of our attestation of this Will, MILLARD W. LANDIS was,
according to our best knowledge and belief, of sound mind and memory and under no undue
duress or constraint.
/� �
ITNESS
Address:
.�1.5^���l�D`���v--c.. ��� �� /��3
WITNESS �
Address:
���s>:.;�,������ -,,��' /7��
�
6
COMMONWEALTH OF PENNSYLVANIA :
: SS:
COUNTY OF DAUPHIN :
We,MILLARD W.LANDIS, ��S��z�,c� ,and �'� the Testator
and the witnesses, respectively, whose names are signed to the fore ing ill, having been
sworn, declared to the undersigned officer that the Testator, in the presence of witnesses, signed
the instrument as his last Will, that he signed, and that each of the witnesses, in the presence of
the Testator and in the presence of each other, signed the Will as a witness.
C��Z��
MILLARD W. LAND
id�- � �'�--
TNESS
�
;
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WITNESS
Subscribed and sworn before me by LLARD W. LANDIS, the Testator, and by
�Sfl- Z o-- and �� , the witnesses on
, 1996.
:�
��
Notary Public
My commission eYpires:
�� n�-,:-�,', C��n .
oSiJ Ir�,S',i::�"_—.'�,! ,
Gi.i��•. _i.`r' 'jf 7'}�L��1iL I
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I� ����1��i el.,��.,u d� ,.� � ,1 ��7, i 'rJ
7
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The
MILLARD W. LANDIS
LIVING TRUST
prepared for
MILLARll W. LANDIS
�
JAMES, SMITI-I & DURKIN
Attorneys-at-Law
l34 Sipe Avenue
Hummelstown, Pennsylvania 17036
(717) 533-3280 FAX (717) 533-2795
�James,Smith & Durkin
All Rigiits Reserved
�.
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� MILLARD W. LANDIS LIVING TRUST
Table of Contents
Article One Trust Creation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1-1
Article Two The Trust �state . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2-1
Article Three Appointment of Trustees. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3-1
Article Four Trustor's Lifetime Rights. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4-1
Article Five Trust Administration Upon My Death . . . . . . . . . . . . . . . . . . . . . . 5-1
Article Six Specific Distributions of Trust Property . . . . . . . . . . . . . . . . . . . . . 6-1
Article Seven Division into Survivor's Trust and Pamily Trust. . . . . . . . . . . . . . . . 7-1
Article Eight The Survivor's Trust. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8-1
t Article Nine The Family Trust . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-1
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Article Ten Cominon Pot Trust . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10-1
Article Eleven Division and Distribution of Trust Property. . . . . . . . . . . . . . . . . . 11-1
Article Twelve Distribution If No Designated Beneficiaries. . . . . . . . . . . . . . . . . . 12-1
Article Thirteen Trustee Administration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13-1
Article Fourteen Trustee Investment Powers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14-1
Article I'ifteen General Provisions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15-1
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� MILLARD W. LANDIS LIVING TRUST
Article One
Trust Creation
Section 1. Parties to My Trust
This trust agreement dated MAY 6 ��6 is made between MILLARD W. LANDiS, the
Trustor, also known as MARTHA M. LANDIS, and the following initial Trustee:
MILLARD W. LANDIS
MARTHA M. LANDIS
Section 2. Name of My Trust
This trust may be referred to as the:
MAY 6 i996
MILLARD W. LANDIS L1V1NG TRUST, dated
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�`'—'" The forinal name of my trust and the designation to be used for the transfer of title to the name
of my trust is:
MILLARD W.LANDIS and MARTHA M.LANDIS, Trustees, or their successors in trust,
under the MILLARD W. LANDIS LIVING TRUST dated MAY 6 ��6 and
any amendments thereto
Section 3. Revocable Living Trust
My trust is a revocable living trust.
Section 4. Trustor as Trustee
Unless otherwise provided in this trust agreeinent, when I am serving as Trustee under this trust,
I may conduct business and act on belialf of my trust without the consent of any other Trustee.
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� Section 5. My Family
a. Marit�l Status
I am currently married and my spouse's name is MARTHA M. LANDIS. All
references to my spouse in this trust agreeinent are to her.
b. The name(s) and birth d�te(s) of the children of MIL[,ARD W. LANDIS are:
Name Birth date
MILLARD WILLIAM LANDIS April 15, 1947
JAMGS E. LANDIS July 31, 1948
All references to the children of MILLARD W. LANDIS in this instrument are to
these children and any children subsequently born to or adopted by him.
Section 6. Creation of Irrevocable IRC Section 401(a)(9) Trusts
Notwithstanding any other provision of my trust agreement, airy trust created pursuant to Acticle
7 herein, upon my death, shall be created and be irrevocable upon execution of my trust
� agreement. Such irrevocable trusts shall remain unfunded until funded at my death.
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� 1-2
� Article Two
The Trust Estate
Section 1. Initial Transfer of Property
I liereby assign, convey, transfer and deliver to my Trustee all property set forth on Scliedule
"A", attached hereto, and made part of this trust agreement. My Trustee acknowledges receipt
of all assets listed on the attached Schedule.
All assets titled in the name of my trust or in the name of my Trustee, but not listed on Schedule
"A", shall be considered a part of my trust estate as if they had been set forth on the attached
Schedule.
Section 2. Additional Transfer of Property
My Trustee is authorized to accept additional transfers of property interests of all kinds, at any
time in any manner by me or any other person or entity.
All property interests received by transfer, assignment, gift, bequest, devise or beneficiary
�,,; designation shall become a part of my trust estate unless disclaimed by my Trustee.
Section 3. Composition of Trust Property
In addition to the property described in the previous Sections, iny trust estate shall include tlie
following:
a. All insurance policies transferred to my trust or policies in which my
trust is named as beneFciary plus the proceeds of those policies;
b. Any interest in any pension, retirement or death benefit, bonus,
profit-sharing or employee's savings plan or any similar contract
created or entered into by an employer for the benefit of soine or all
employees which is transferred to my trust or in which my trust is
named as beneficiary and all proceeds of any such benef t, bonus, plan
or contract; and
c. Any other property or interest in property which becomes subject to
my trust.
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� Section 4. Acceptance of Trust Property
All property transferred to my trust and not disclaimed by my Trustee shall be held, administered
and distributed according to the terms of this agreement.
Section 5. Trust Property Scliedule
The trust property transferred to my trust is set forth on Schedule "A".
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� Article Three
Appointment of Trustees
Section 1. Definition of Trustee
All references in this agreement to "Trustee" shall Ue deemed a reference to the person or entity
who is then serving as Trustee and shall include alternate or successor Trustees or Co-Trustees
unless the context requires otlierwise.
Section 2. Resignation of a Trustee
Any Trustee may resign at any time without court approval by giving written notice to me or to
my personal representatives. If I am not living, written notice shall be given to my successor
Trustee, or if there is no successor, to the beneficiaries then entitled to receive income or
principal distributions under this agreement, to their respective personal representatives, or if such
beneficiaries then be minors, to the persons having the care or custody of them.
� Section 3. Removal of a Trustee
Any Trustee inay be removed under this agreement as follows:
a. While I �►m Both Alive and Competent
While I am both alive and legally competent, I shall have the right to remove
any Trustee appointed under this agreement at any tiine with no requirement that
the removed Trustee receive any reason for such terinination.
b. Removal by Others
After my death or legal incompetency, any Trustee may be removed by a
majority vote of the beneficiaries then entitled to receive income or principal
distributions under tl�is trust agreement or their personal representatives at any
tiine for cause.
c. Notice to Removed Trustee
Written notice of removal under this agreement shall be effective immediately
when signed by the person or persons authorized to make the removal and
delivered to the Trustee personally or deposit by United States certified mail,
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� return receipt requested. The written notice removing a Trustee shall designate
�„� a successor Trustee.
d. Tr�nsfer of Trust Property
The Trustee so removed shall promptly transfer and deliver to the successor
Trustee all property of the trust under its possession and control.
Section 4. Designatecl Successor Trustees
Whenever a Trustee is removed, dies, resigns, becomes legally incapacitated or is otherwise
unable or unwilling to serve, that Trustee shall be replaced as follows:
�. The Death or Dis�bility of a Trustee While I am Serving as
Trustee
I may serve as the only Trustee or I niay name any number of Trustees to serve
with me. If any of these other Trustees subsequently die, resign, become legally
incapacitated or are otherwise unable or unwilling to serve as a Trustee, I may
or may not fill the vacancy.
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b. llisability Trustees of MILLARD W. LANDIS
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Upon the disability of MILLARD W. LANDIS, if he is then serving as an initial
Trustee he shall be replaced Uy the following Disability Trustee(s):
MARTHA M. LANDIS
If, for any reason, tl�e Disability Trustee(s) named above are unable or unwilling
to serve, the following successor Disability Trustee(s) shall serve until the
successor Disability Trustee(s) on the list have been exhausted. Unless otherwise
specified, if Co-Disability Trustees are serving, the next following named
successor Disability Trustee shall serve only after all of the Co-Disability
Trustees cease to act as Trustees.
(1) MILLARD WILLIAM LANDIS, AND
(2) JAMES E. LANDIS, OR THE SURVIVOR OF THEM, THEN
(3) MALIEKA T. LANDIS AND
(4) JOSHUA Q. W. LANDIS, OR THE SURVIVOR OF THEM
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� c. Death Trustees of MILLARD W. LANDIS
Upon the death of MILLARD W. LANDIS, if he is then serving as an initial Trustee
he shall be replaced by tlie following Death Trustee(s):
MARTHA M. LANDIS
If, for any reason, the Death Trustee(s) named above are unable or unwilling to
serve the following successor Death Trustee(s) shall serve until the successor
Death Trustee(s) on the list have been exhausted. Unless otherwise specified,
if Co-Death Trustees are serving the next following named successor Death
Trustee shall serve only after all of tlie Co-Death Trustees cease to act as
Trustees.
(1) MILLARD WILLIAM LANDIS, AND
(2) JAMES E. LANDIS, OR THE SURVIVOR OF THEM, THEN
(3) MALIEKA T. LANDIS AND
(4) JOSHUA Q. W. LANDIS, OR THE SURVIVOR OF THEM
Section 5. Definition of Disability
A Trustee shall be considered disabled in the event that a court of competent jurisdiction
4 determines that such Trustee is legally incompetent, or in the event that a Trustee is not
`�-� adjudicated incompetent but, by reason of illness or mental disability, such Trustee lias been
certified by two licensed physicians to be unable to properly handle his or her own affairs.
Section 6. No Designated Successor Trustees
If at any time there is no Trustee acting under this agreement and there is no person or institution
designated and qualified as a successor Trustee, a majority of the beneficiaries then eligible to
receive distributions of income or principal under this agreeinent or their legal representatives
shall appoint a successor Trustee. If any trust existing under this agreement lacks a Trustee and
no successor is appointed pursuant to this Section, the vacancy shall be filled by a court of
competent jurisdiction.
Section 7. Responsibility of Successor Trustees
A successor Trustee shall have the same rights, powers, duties, discretions and immunities as if
it had been named as initial Trustee under this agreement. No successor Trustee shall Ue
personally liable for any act or failure to act of any predecessor Trustee or shall have any duty
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to examine the records of any earlier Trustee. A successor Trustee may accept the account
�� rendered and the property delivered by or on behalf of a predecessor Trustee as a full and
complete discharge of the duties of the predecessor Trustee without incurring any responsibility
or liaUility for so doing.
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� 3-4
� Article Four
Trustor's Lifetime Rights
Section 1. Rights While I am Alive and Legally Competent
During my lifetime while I am legally competent, I shall have the following powers over the trust
property and my Trustee:
a. Right to Trust Income
My Trustee shall pay to me ar apply for my benefit all the net ineome from this
trust monthly or in other convenient installinents as I may direct.
b. Right to Trust Principal
My Trustee shall pay to me or apply for my benefit such sums from the
principal of this trust as I may direct. I may not, however, direct my Trustee to
make gifts from trust property to third parties. If my Trustee inadvertently
inakes a distribution I intended as a gift clirectly from the trust to a third party,
that distribution shall be construed as a distribution to me first then a gift to the
I,�, third party from me.
c. Right to Add and Remove Property
By written direction delivered to my Trustee, I may add other property to my
trust or withdraw property in any atnount and at any time.
d. Rigl�t to Ainend or Revolce My Trust
I shall have the right to amend, modify, alter, revoke or terminate my trust or
any separate trusts created under tliis agreement at any time in whole or in part.
Any amendment or revocation of this trust agreement must be delivered to my
Trustee in writing. The power to atnend, revoke or terminate this trust is
personal to me and may not Ue exercised by any other person or entity.
After my death, this trust or any trust created by this agreement shall be
irrevocable and not subject to amendment.
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� e. Delivery of Property After Revocation
After any revocation or termination of any trust created by this agreement my
Trustee shall promptly deliver the designated trust property to ine.
f. Trustee's Retention of Assets Upon Revocation
In the event of any revocation of all or part of my trust, my Trustee shall be
entitled to retain sufficient assets to reasonably secure the payment of liabilities
my Trustee has lawfully incurred in administering the trust and any fees that
have been earned by my Trustee until such time as those liabilities have been
discharged and fees paid, unless I indemnify my Trustee against loss or expense.
Section 2. Power to Direct Investments
I shall have the right to direct investments of trust property as follows:
a. Invest trust funds in specified securities, properties or other forms of
investment;
b. Retain as part of tlie trust estate for specified periods of tiine
( securities, properties or other forms of investment held in trust under
`�•.-+ this instrument; and
c. Sell, encumber, lease, abandon or dispose of any trust property.
My Trustee shall not be liable for any losses sustained as a direct or indirect
result of any action taken in accordance with the terms of the written direction.
All directions shall be in a writing signed by me, specifying, if applicable the
period of tiine during which the instructions shall remain in effect and describing
any other conditions affecting the directions.
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� Section 3. Trustor's Rights During Disability
a. Disability Defined
I shall be considered disabled in the event a court of competent jurisdiction
determines that I am legally incompetent or, in the event that I am not
adjudicated incompetent but by reason of illness or mental disability, I am in the
opinion of two licensed physicians unable to properly handle my own affairs.
b. Income and Principal Distributions
My Trustee during the period of a a Trustor's disability shall pay to or apply for
that Trustor's benefit as much of the net income and principal of my trust estate
as my Trustee in its sole discretion shall deem necessary or advisable.
c. P�yment of Obligations
My Trustee during the period of my disability shall from time to time, pay my
valid obligations, my medical expenses and provide for my comfortable
inaintenance and welfare taking into consideration my other incoine or resources.
� d. Income and Principal Distributions for Spouse
My Trustee shall pay to or apply for the benefit of my spouse as inuch of the
principal and net income of my trust estate as iny Trustee in its sole discretion
shall deem necessary or advisable from tilne to time for my spouse's health,
maintenance, support and education, taking into consideration her other income
or resources.
e. Trustee Guidelines
In making distributions under this Section my Trustee shall give primary
consideration to my needs and secondary consideration to the needs of my
spouse.
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� f. Tax Planning
During iny life if I should become disabled, my Trustee may exercise the
following powers as attorney in fact on my behalf, either alone or in conjunction
with any other attorney in fact under a durable power of attorney, but the
primary concern of my Trustee shall be for iny welfare and secondarily for tlie
welfare of my lineal descendants for tax plamling:
1. My Trustee may make additional distributions to my
lineal descendants equally by class for the purpose
of continuing any gift program initiated by me
which my Trustee reasonably determines will
achieve beneficial results for estate and/or income
tax planning purposes.
2. My Trustee may initiate a gift program on my
behalf which my Trustee reasonably determines will
achieve beneficial results for estate and/or income
tax planning purposes by making distributions to my
lineal descendants equally by class so long as such
distributions are made in the form which qualify for
and are limited to the annual exclusion and available
unified credit for federal gift tax purposes.
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3. During any period when I am disabled, my Trustee
shall be under no obligation to initiate, recommend
or consider any tax planning objective or prograin
for me and any exercise of its discretion in this
regard when conducted in good faith shall not
subject it to liability to any person affected thereby.
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Section 4. Exercise of Trustor's Riglits and Powers by Others
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Any right or power that I could exercise personally under the terms oF this agreeinent except tlie
power to amend, revoke or terminate any trust created by this agreement may be exercised for
and on behalf of ine by any attorney in fact who, at the time of the exercise, is duly appointed
and acting for me under a valid and enforceable durable power of attorney executed by ine or,
if there is no such attorney in fact, by my duly appointed and acting conservator after petition
to a court of competent jurisdiction.
The power to amend, revoke or terminate any trust created Uy this agreement is personal to me
and may not be exercised by any other person or entity.
Section 5. Rights Concerning Standby Property �
It is contemplated that certain assets may be added to the trust estate from time to time with the
possession and control thereof retained by or redelivered to me. If I execute and deliver to my
Trustee an instrument effectively transferring such assets to my Trustee together with any fiirther
documentation necessary to effect the record transfer tl�ereof, in the event of my death or
incapacity the assets shall be deemed to be assets of the trust estate and held by me as the
no�ninee of iny Trustee. During the period such assets are in my possession they sl�all be subject
to the following terms and conditions:
�'�--� a. I may receive directly and devote to my own use and benefit
any dividends, interest, income or distributions froin or upon
such assets and neither I nor my Trustee shall have auy duty
of accounting to the other or to any other person with regard
thereto.
b. Any sale, exchange or other transfer of such assets by me
shall constitute a withdrawal of such assets from the trust
estate and my Trustee shall have no further interest therein
or duties with regard thereto. Though not a condition
precedent to any such withdrawal, I agree to notify my
Trustee of all such withdrawals.
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� c. I shall be responsible for the reporting of the income from
such assets to the appropriate taxing authorities and my
Trustee shall have no responsibility for including such
income ou any fiduciary returns prepared by it or for the
preparation of any other income tax return with respect
thereto unless I duly notify my Trustee of such income items
and a full and adequate accounting thereof is made and
presented to iny Trustee.
d. I shall protect and indemnify my Trustee against all losses,
liabilities and expenses which may result directly or
indirectly from my use, possession, management or control
of such assets.
e. Upon my death or incapacity, my Trustee shall be entitled to
the possession thereof and thereafter shall have all the rights,
powers and duties with respect to such assets which are
otherwise granted to my Trustee herein. It is understood that
my Trustee shall be responsible only for the assets which
actually come into its possession and control. However, it
is also understood that my Trustee shall use any reasonable
and prudent �neans to secure possession of any trust assets of
� which it has knowledge. My Trustee shall have no duty,
accountability or responsibility to me or to any other person
with respect to any assets of which it has no knowledge or
of which it is unable to obtain possession and control.
Section 6. Trustor/Trustee Bank Accounts
It is contemplated that I may establish a joint bank account or accounts with my Trustee and
create powers of attorney in respect thereof in other persons. Deposits from time to time made
by me or other authorized persons into sucli an account shall constitute transfers to the trust estate
and withdrawals therefrom which may be made without the co-signature of my Trustee shall
constitute withdrawals from the trust estate. However, my capacity and other authorized persons
with respect to any such account shall be that of nominee of my Trustee not co-owner. At any
given time the trust estate shall include the then balance of any such account.
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� Section 7. Life Insurance Policies and Retirement Plans
Unless otherwise provided in this trust agreement or elsewhere, I shall have all powers over life
insurance policies and retirement benefits owned by ar made payable to my trust, including the
following:
a. Payment of Pi-emiums
I shall be responsible for the payment of premiums and other charges on each
policy or insurance owned by or made payable to my trust. My Trustee shall
have no duty to make any payment or be responsible to determine whether such
payments have been made.
b. Custody of Policies
My 'I'rustee shall not be responsible for the custody or safekeeping of any life
insurance policy before its actual delivery to my Trustee nor after its withdrawal
by its owner.
c. Change Beneficiaries
I shall have the right to change the beneficiary and to receive any dividends or
other earnings of such policies or plans without accountability thereFor to my
('r-.- Trustee ar any beneficiary in this agreement.
d. Assigninent
I may assign any policy or plan benefits to any lender to the extent allowed by
law including my Trustee as security for any loan to me or any other person.
e. Surrendered Policies
If any life insurance policy is surrendered or if the beneficiary of any policy is
changed, this trust agreement shall be revoked with respect to such policy.
However, no revocation of the trust with respect to any policy whether pursuant
to the provisions of the preceding sentence or otherwise shall be effective unless
the surrender or change in beneficiary of the policy is accepted by the insurance
coinpany.
Section 8. Undistributed Net Income
Any net income not distributed under the provisions of this Article shall be added to the trust
principal.
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,� Article Five
Trust Administration Upon My Death
Section 1. Trustees Discretion to Pay My Debts and Taxes
After iny death iny Trustee in its sole discretion inay pay all or any part of iny following
expenses, debts, claims and taxes becoining due or payable by reason of my deatli:
a. My final medical expenses and all funeral costs;
b. Legally enforceable claiins against me or my estate;
c. Reasonable expenses of adininistration of this trust and my probate
estate, if any;
d. Any allowances mandated by a court of competent,jurisdiction to those
dependent upon me;
e. Any estate, inheritance, succession, death or similar taxes payable by
reason of my death; and
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£ Any penalties or interest on any of the above claims, debts or taxes
owed by me or my estate.
Section 2. Payment by My Trustee or by My Personal RePresentative
My Trustee in its sole discretion may make distributions authorized under this Article either
directly to the person or entities to whom payment is owed or to the personal representative of
my probate estate. Written statements by my personal representative that such sums are due and
payable by my estate shall be sufficient evidence of their amount and propriety for the protection
of my Trustee. My Trustee shall be under no duty to see to tl�e application of any such payments
made to my personal representative.
Section 3. Tax Elections
With regard to the payment of any income tax, gift tax, estate tax, inheritance tax or any other
tax required because of my death, my Trustee shall have the right to make any available elections
allowed under the law. My Trustee is authorized to sign and file any tax return required because
of my death.
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� Section 4. Payment of Death Taxes, Claims and Expenses
a. Payment out of Trust Property
All death taxes, claims and expenses payable under the provisions of this Article
shall be paid by my Trustee out of the trust estate except as specifically provided
for elsewhere in this agreement.
b. Exception for Property Passing Outside of Trust
Notwithstanding any other provision in my trust all death taxes, claims and
expenses incurred by reason of assets passing outside of my trust or probate
estate shall be assessed against those persons receiving such property.
c. No Payment from Survivor's Sliare
Notwithstanding any other provision in my trust unless all other assets available
to my Trustee have been exhausted, all death taxes, clainls and expenses payable
under the provisions of this Article shall not be paid from the Survivor's Trust
as def ned in Article Eight or from any property passing to my surviving spouse
that qualifies for the federal estate tax marital deduction.
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� Article Six
Specific Distributions of Trust Property
Section 1. Fractional Gift of Income in Respect of a Decedent
After my death, iny Trustee shall distribute a fraction of all items of income in respect of a
decedent in my trust estate to the Survivor's Trust. Any income in respect of a decedent not
distributed to the Survivor's Trust shall be distributed to the Family Trust. The fraction
distributed to the Survivar's Trust shall equal the fraction resulting fi-om dividing the Surviving
Trustor's unused unified credit equivalent reduced by the balance of the Survivor's then taxable
estate, after all other allocations or distributions, due to rny death, by the value of all items of
of all items of income in respect of a decedent in my trust estate or received by my Trustee from
my probate estate.
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�, Article Seven
Division into Survivor's Trust and Family Trust
Section 1. Division of the Trust Estate
Upon my death my Trustee shall allocate and distribute the remaining trust estate including any
property that becomes distributable or payable to my Trustee at my death into two separate shares
to be identifed as the Survivor's Share and the Family Share.
a. Property Transferreci to the Survivor's Share
The Survivor's Share shall consist of assets having a value equal to the ui�limited
federal estate tax marital deduction allowable to iny estate, subject to the
following:
1. The Survivor's Share shall be reduced by the net value
for federal estate tax purposes of all other property tl�at
passes or has passed to my surviving spouse under this
trust agreement, my probate estate or otherwise that
qualifies for the federal estate tax marital deduction;
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2. The Survivor's Share shall be reduced by all federal
estate tax deductions actually allowed other than the
marital deduction;
3. The Survivor's Share shall be reduced by the amount if
any needed to increase my taxable estate for federal
estate tax purposes to tlie largest amount that, after
allowing for the unif ed credit �gainst federal estate tax,
will result in the smallest if any federal estate tax being
imposed on my estate;
4. The Survivor's Share shall be reduced by the credit for
state death taxes available to iny estate to the extent that
the use of that credit does not result in or increase any
deatli tax payable to any state; and
5. The Survivor's Share shall be reduced by any other
allowable credits available to my estate except the credit
for tax on prior transfers fi•om a "transferor", as defined
in Internal Revenue Code Section 2013, who dies within
� 7-1
� two years after the date of my death but only to the
extent that those credits do not disqualify this gift from
receiving the marital deduction.
6. The Survivor's Share shall Ue reduced by all assets
theretofore declared to be or specifically designated to
be the separate property of my spouse as held by my
spouse's Trustee.
7. Notwithstanding any other provision in this Section, the
Survivor's Share shall never have assets with a value
less than the maximum aniount of the unified credit
against the federal estate tax as of the date of my death,
unless the value of my surviving spouse's trust property
less all liabilities and my gross estate less all allowable
deductions except the federal estate tax marital
deduction, is less than the maximum value of the unified
credit against the federal estate tax, in which case the
entire amount of my trust property shall be allocated to
the Survivor's Share. For purposes of calculations under
lhis subsection, the Survivor's Share shall be reduced by
tlie value of other property passing to it under this trust
agreement, my probate estate or otherwise that qualifies
�,,,, for the fecieral estate tax marital deduction and the value
of the separate property of my spouse.
b. Survivor's Share to be Administered as Survivor's Trust
The Survivor's Share shall be held, administered and distributed according to tlze
provisions of the Survivor's Trust as set forth in Article Eight of this trust
agreement.
c. Property Transferred to the Family Share
The Family Share shall consist of all assets not distributed to the Survivor's
Share.
d. Family 5hare to be Adininistered as Fainily Trust
The Family Share shall be held, administered and distributed according to the
provisions of the Family Trust as set forth in Article Nine of this trust
agreement.
� 7-2 �
`�' Section 2. Allocation and Valuation of Assets
In allocating assets between the Survivor's Share and the Family Share, my Trustee shall allocate
the trust assets that qualify for the marital deduction between the Survivor's Share and the Family
Share in cash or in kind or partly in each on a pro rata or non pro rata basis and in undivided
interests or not, subject, however, to the following:
a. Qualification for Maritat Deduction
Only assets that qualify for the marital deduction shall be allocated to the
Survivor's Share.
b. Valuations of Allocations in Kind
Assets allocated in kind shall be deemed to satisfy the marital deduction amount
on the basis of their values as finally determined for federal estate tax purposes
provided, however, that my Trustee shall act impartially, consistent with
equitable principles requiring impartiality among beneficiaries, in allocating
assets in satisfaction of the marital deduction share so that any distribution of
assets in satisfaction of the marital deduction share shall be made of assets
including cash fairly representative of appreciation ar depreciation in the value
� of all property thus available for distribution.
c. Income
The Survivor's Share shall be entitled to a pro rata share of the income earned
on my residuary probate and trust assets from the date of my death, including
a share of income earned on assets used to discharge liabilities.
d. Foreign Deatt� Tax Credit
My Trustee shall not allocate assets that qualify for the foreign death tax credit
to the Survivor's Share unless all other assets or interests available for allocation
have been so allocated.
e. Insurance on the Life of My Surviving Spouse
My Trustee shall not allocate any policy of insurance on the life of my surviving
spouse to the Survivor's Share that is my separate property.
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� f. Insurance on the Lives of Others
Any incidents of ownership to a policy of insurance on the life of a person other
than me shall be allocated to tl�e Family Share.
g. Lack of Property to Fully Fund tl�e Survivor's Share
If there is insufficient property qualifying for the federal estate tax marital
deduction to fully fund the Survivor's Share, the funding to the Survivor's Share
shall be reduced accordingly.
Section 3. Intention that Survivor's Share Qualify for Marital Deduction
I intend that the Survivor's Share qualify for the federal estate tax marital deduction and this
agreement shall be construed accordingly. All other provisions of this trust agreement shall be
subordinate to that intent. If the granting of any right, power, privilege, authority or immunity
to my Trustee or another person and the imposition of any duty upon my Trustee or another
person by any provision of this trust agreement would disqualify any sllare or interest of a
benef ciary hereunder from qualifying for the federal estate tax marital deduction provided by
Section 2056 of the Code, such provision shall be ineffective if and to the extent that the same
if effective would so disqualify such share or interest. The provisions of this Section shall also
apply to my probate estate, personal representative and all beneficiaries, devisees and legatees.
� Notwithstanding any other provision in this trust agreement to the contrary, my surviving spouse
at any time shall have the right to direct my Trustee in writing to convert within a reasonable
tiine any unproductive trust property to income producing property.
Section 4. Disclaimer of Property
Any property or portion of property that is disclaimed by my surviving spouse shall be held,
administered, or distributed according to the following terms:
a. Property Disclaimed
My surviving spouse may disclaim any property held or distributed to or for the
benefit of my surviving spouse under this trust agreement.
b. Time to Disclaim
My surviving spouse may disclaim within the tirne linlits and under the
conditions permitted by the laws regulating disclaimers.
c. Delivery of Disclaimer to My Trustee
i
� 7-4
� A disclaimer by my surviving spouse may be exercised by the delivery to iny
Trustee of an irrevocable and unconditional refusal to accept any or all property
interests passing to my surviving spouse or the Survivor's Share.
d. Disclaimer of Survivor's Sl�are
If my surviving spouse exercises a disclaimer with respect to any or all property
set aside as tlie Survivor's Share, such disclaizned interest shall be added to the
Family Share.
e. Disclaimer of Family Share
If my surviving spouse exercises a disclaimer with respect to any or all property
set aside as the Family Share, such disclaimed interest shall be distributed under
the relevant terms of this agreement as though my surviving spouse had
predeceased me.
Section 5. Retirement Accounts
If my Trustee is named the beneficiary of an interest in one or inare plans which are qualified
under Internal Revenue Code Section 401 or one or more Individual Retirement Accounts
qualified under Internal Revenue Code Section 408 (liereinafter "Retirement Accounts"), then my
�...,' Trustee shall allocate the benefits payable from such Retirement Accounts to the Survivor's Trust
(or a share hereunder) without underfunding the Fatnily Trust, if possible.
Furthermore, if one or more Retirement Accounts are distributed to the Survivor's Trust in
installment payments, the following provisions shall apply:
a. Amount To Be Distributed
My Trustee shall pay to or apply for the sole benefit of my surviving spouse, at
least quarterly, the greater of(i) all of the net income earned by the Retirement
Account, or (ii) the amount required to be distributed from such Retirenient
Account under Internal Revenue Code Section 401(a)(9). My Trustee shall take
all of the necessary action to cause the Retirement Account to distribute to the
Survivor's Trust the amount required to be distributed to the Surviving Trustor
under this paragraph.
b. Qualifying Income Interest
My Trustee shall take all of the necessary action to assure that the interest of my
surviving spouse qualifies as a qualifying income interest for life pursuant to
Internal Revenue Code Section 2056(b)(7).
��-�-- 7-5
� c. Principal and Income Allocation
�'
My Trustee shall allocate to the income of the Survivor's Trust all of the net
income earned by the Retirement Accowit and paid to that trust regardless of
whether the Retirement Account is allocated to principal for trust accounting
purposes. My Trustee shall allocate to principal of the Survivor's Trust all other
distributions from the Retireinent Account.
d. Underproductive Prorerty
Tlie surviving spouse shall have the power to direct my Trustee to compel any
Retirement Account from which distributions are made to the Survivor's Trust
to be invested in income-producing assets.
e. Power to Accelerate Distributions
My Trustee shall elect an option under each Retirement Account which allows
my Trustee in its discretion to accelerate distributions and to receive one or more
lump suin payments froin such Retirement Account so that my Trustee has the
flexibility to withdraw principal in its discretion froin the Retirement Account.
If such an option is not available w�der the Retirement Account, my Trustee
shall take all of the necessary action to cause such Retirement Account to be
� transferred to an Individual Retirement Account which offers such flexibility and
which is titled in the participant's name and is qualified under Internal Revenue
Code Section 408; provided however, that such transfer is not treated as a
taxable distribution for income tax purposes.
�'�--- 7-6
� Article Eight
Survivor's Trust
Section 1. Rights of Surviving Spouse in the Survivor's Trust
My Trustee shall hold, administer and disti-ibute the assets of Survivor's Trust as follows:
a. Payment of Income
My Trustee shall pay to or apply for the benefit of the surviving spouse so long
as the surviving spouse lives the entire net income of the Survivor's Trust in
monthly or other convenient installments agreed upon by the surviving spouse
and my Trustee but not less often than aiuivally.
If my Trustee is entitled to payments from a�iy Retirement Account, it shall
allocate to income from payments received in any calendar year an amount equal
to the income earned by the account in such year, and any excess shall be
allocated to principal, and if the payments in such year shall be less than the
amount equal to the income earned by the account in such year, iny surviving
spouse shall have the continuing right to require my Trustee to withdraw from
� the account and pay to him/her as income an additional amount so that he/she
� can be paid an amount equal to such income. Notwithstanding the preceding
sentence, if the Internal Revenue Service should determine that for the
Survivor's Trust to qualify for the marital deduction all of the income earned by
tlie account does not have to be distributed to my surviving spouse or be subject
to his/her withdrawal right, then only the amount required for such qualification
shall thereafter be distributed to him/her or be subject to his/her withdrawal
right.
b. General Power of Appointment Over Undistributed Net Income
Upon the death of the surviving spouse my Trustee shall distribute all of the
accrued but undistributed net income to any person or entity and upon any trust,
terms and conditions or to or in favor of the estate of the surviving spouse as the
surviving spouse may direct by his or her last will or living trust agreement. No
exercise of this general power of appointinent shall be effective unless it refers
to this trust agreement and expressly indicates an intention to exercise this
general power of appointinent. My Trustee may rely upon any instrument
admitted to probate as the last will of the surviving spouse in carrying out the
terms of the power of appointment and shall not be liable for any good-faith act
in reliance upon that will even if for any reason it is later determined to be
� 8-1
L invalid with respect to its purported exercise of this power of appointinent.
��,
c. Discretiona�y Pay�nent of Principal
At any tiine or times during the trust term my Trustee shall pay to or apply for
the benefit of the surviving spouse so much of the principal of the Survivor's
Trust as my Trustee deems proper for the surviving spouse's health,
maintenance, support and education. In exercising discretion my Trustee shall
give the consideration that my Trustee deems proper to all other income and
resources then readily available to the surviving spouse for use for these
purposes and that are then known to my Trustee.
Section 2. Trustee's Discretion to Pay Debts and Taxes
The Survivor's Trust shall terminate upon the death of the surviving spouse. My Trustee, shall
hold and administer the unappointed balance or remainder of the Survivor's Trust as follows:
a. Surviving Spouse's Debts and Taxes
My Trustee in its sole discretion may pay all or any part of the surviving
spouse's following expenses, debts, claims and taxes becoming due or payable
s.
by reason of the surviving spouse's death:
�
1. Final medical expenses and all funeral costs;
2. Legally enforceable claims against the surviving spouse
or the surviving spouse's estate;
3. Reasonable expenses of administration of this trust and
the surviving spouse's probate estate if any;
4. Any allowances mandated by a court of competent
jurisdiction to those dependent upon the surviving
spouse;
5. Any estate, inheritance, succession, death or similar
taxes payable by reason of the death of the surviving
spouse; and
6. Any penalties or interest on any of the above claims,
debts or taxes owed by the surviving spouse or the
surviving spouse's estate.
('�---- 8-2
� Section 3. Payment by My Trustee or Personal Representative
My Trustee in its sole discretion may make distributions authorized under this Article either
directly to the person or entities to whom payment is owed or to the personal representative of
the surviving spouse's probate estate. Written statements by the surviving spouse's personal
representative that such sums are due and payable by the estate shall be sufficient evidence of
tlieir amount and propriety for the protection of my Trustee. My Trustee shall be under no duty
to see to the application of any such payments made to the surviving spouse's personal
representative.
Section 4. Tax Elections
Witl� regard to the payment of any income tax, gift tax, estate tax, inheritance tax or any other
tax required because of the deatli of the surviving spouse, my Trustee shall have the right to inake
any available elections allowed under the law. My Trustee is authorized to sign and file any tax
return required because of the death of the surviving spouse.
Section 5. Administration of Survivor's Trust Remainder
After payment of debts, expenses and taxes, my Trustee shall hold and administer the
� unappointed balance or remainder of the Survivor's Trust as provided in the Articles that follow.
i
`� 8-3
Article Nine
�� -
Family Trust
Section 1. Rights of Surviving Spouse in t}ie Family Trust
Subject to Section 2 of this Article Nine, my Trustee shall hold, administer and distribute the
assets of the Family Trust as follows:
a. Payinent of Incoine
My Trustee s11a11 pay to or apply for the benefit of my surviving spouse, so long
as my surviving spouse lives, the entire net income of the Family Trust, in
monthly or other convenient installments agreed upon by my surviving spouse
and my Trustee, but not less often than annually.
b. Discretionary Payment of Princi�al
At any time or times during the trust term, my Trustee shall pay to or apply for
the benefit of my surviving spouse so much of the principal of the Family Trust
as my Trustee, in its discretion, deems proper for my surviving spouse's health,
maintenance, support and education.
�a.,_;
c. Guidelines for Trustee's Discretion
No amount paid or applied need thereafter be repaid to my Trustee or restored
to my trust. In exercising discretion, my Trustee shall give the consideration
that iny Trustee deems proper to all other income and resources that are known
to my Trustee and that are readily available to my surviving spouse for use for
these purposes. My Trustee shall accumulate and add to principal any net
income not distributed.
d. Surviving Spouse's Right to Withdraw Principal
My surviving spouse shall have the power to withdraw from the Pamily Trust
principal each calendar year those amounts that shall not exceed the greater of
five thousand dollars ($5,000) or five (5) percent of the assets, valued as of the
end of the preceding calendar year. My surviving spouse shall exercise this
power by a written instrument signed by him or her and delivered to my Trustee.
This power is noncuinulative and to the extent it is not exercised by the end of
January of each calendar year, it shall lapse. This power shall exist each year
until the death of my surviving spouse.
� 9-1
��
Section 2. Rights of Surviving Spouse in the Family Trust -
� Government Assistance
a. Distributions of Net Income
Government Assistance
In the event such beneficiary is receiving government
assistance, my Trustee shall distribute net income which will
not cause such beneficiary to be ineligible for governmental
financial assistance benefits, in the event such beneficiary is
receiving such benefits. Any ainounts shall not be
distributed directly to such beneficiary. Sucl� disbursements
shall be for purposes other than food, clothing or shelter.
Any undistributed income shall be added to principal.
No Governinent Assistance
In the event such beneficiary is not receiving goverrunent
assistance, my Trustee shall apply to, or for the benefit of,
such beneficiary, at least monthly, all of the net income from
� such trust share.
��.
b. Distributions of Principal
No Government Assist�nce
In the event such beneficiary is not receiving government
assistance and has no restrictions on distributions to her, my
Trustee shall apply to or for the benefit of such beneficiary,
as much of the principal from this trust share as my Trustee
deems advisable in its sole discretion for his education,
health, maintenance and support.
Government Assistance
In the event such beneficiary is receiving government
assistance, my Trustee may distribute discretionary amounts
of principal for special needs not otherwise provided by
governmental financial assistance and benefits or by the
providers of services. Such amounts shall not be distributed
directly to such beneficiary.
� 9-2
�..
"Special needs" refer to the requisites for maintaining the
�,, good health, safety and welfare of such beneficiary when in
the discretion of my Trustee such requisites are not being
provided by any public agency, office or department of any
state or of the United States.
"Special needs" shall also include, but not be limited to,
medical and dental expenses, annual independent check-ups,
equipment, programs of training, education, treatment and
rehabilitation, transportation (including vehicle purchase),
maintenance and insurance. "Special needs" may include
spending money, electronic equipment such as radios, record
players, television sets, coinputer equipment, camping,
vacations, athletic contests, inovies, trips and money to
purchase appropriate gifts for relatives and friends.
My Trustee shall have no obligation to expend trust assets
for such needs, but if my Trustee in its sole discretion
decides to expend trust assets, under no circumstances should
any amounts be paid to or reimbursed to the federal
government, any state or any governmental agency for any
purpose, including for the care, support and maintenance of
such beneficiary.
��.
Because such beneficiary is dependent on the support and aid
of others, my Trustee shall, in the exercise of its best
judgment and fiduciary duty, seek support and maintenance
for such beneficiary from all available public resources
including but not liinited to Social Security Administration
benefits, Supplemental Security Income (SSI), U.S. Civil
Service Commission benefits, Medicaid, and Federal Social
Security Disability Insurance (SSDI) and any other
comparable programs, state, federal or local.
If necessary, my Trustee may seek appropriate authority to
collect, expend and account for separately all such
governmental assistance benefits, but shall not commingle
them witli these trust assets. In addition, in making
distributions for the special needs of such beneficiary, tny
Trustee shall take into consideration the applicable resource
limitations of the public assistance programs for whicl� such
beneficiary is eligible.
��,�.., 9-3
� No part of the trust share set aside for such beneficiary shall
be used to supplant or replace public assistance benefits of
any state or federal agency which has a legal responsibility
to serve persons with illnesses or handicaps whicli are the
same or similar to the disorders of such beneficiary.
No interest in the principal or income of the trust share set
aside for such beneficiary shall be anticipated, assigned or
encumbered or shall be subject to any creditor's claim or to
legal process, prior to its actual receipt by the beneficiary.
Such Ueneficiary is specifically prohibited from any right to
receive, deinand, secure, give, assign, transfer, mortgage,
borrow against or will any trust assets or income.
It is my intention to conserve and maintain this trust share
for the special needs of said beneficiary. Therefore, no part
of this trust share, neither principal nor undistributed net
income, shall be subject to the claims of voluntary or
involuntary creditors for the provisions of care and services,
including residential care by any public entity, office,
department or agency of any state or goveriunent agency or
of the federal government of the United States.
4,� In the event that it is determined by either a court or an
authority of competent jurisdiction that these trust assets
render such beneficiary ineligible to receive any
governmental assistance benefits, or if my Trustee in its sole
discretion determines that notwithstanding the provisions set
forth above, this trust share may be subject to garnishinent,
attachments, execution or bankruptcy proceedings by a
creditor of such beneficiary or by the federal or state
government or any agency or subdivision thereof, then my
Trustee shall terminate the trust share set aside for such
beneficiary and distribute the remaining principal and
accrued income pro rata to the other beneficiaries named in
this article.
We request but do not direct that the contingent beneficiaries
conserve, manage and distribute the proceeds of the former
trust share set aside for such beneficiary in accordance with
the provisions as set forth above.
� 9-4
�
� In determining whether the existence of the trust sh�e has
the effect of rendering such beneficiary ineligible to receive
any governmental assistance benefits, iny Trustee is hereby
granted full and complete discretion to initiate adtninistrative
or judicial proceedings for the purpose of determining
eligibility. All costs related thereto, including reasonable
attorney's fees, shall be a proper charge to the trust share of
such beneficiary.
c. Distribution on Death of Beneficiary
If such beneficiary should predecease me or die before the
coinplete distribution of tlie trust share, the trust share set
aside for such beneficiary shall terminate and my Trustee
shall distribute the balance of the trust property according to
Section 3 of this Article Nine.
Section 3. Termination of the Tamily Trust
On the death of my surviving spouse, the Family Trust shall terminate. All undistributed trust
assets, including any accrued and undistributed net incoine, shall be lleld, administered and
�. distributed in the Articles that follow.
`�,y.•
(�,� 9-5
�- Article Ten
Internal Revenue Code Section 401 (a)(9) Trust
Section 1. Creation, Administration and Termination of Irrevocable
Internal Revenue Code Section 401 (a)(9) Trust
If on the date of my death any trust created pursuant to the Articles that follow has been
designated as the beneficiary of any plans to which Section 401 (a)(9) of the Internal Revenue
Code of 1986, as amended, in effect at the time of my death ("IRC"), and any applicable
regulations, rulings, or pronouncements issued in connection therewith, applies, my Trustee shall
create an Internal Revenue Code Section 401(a)(9) Trust to receive the distribution from such
plans. All such distributions shall be held, administered, divided and distributed to the
beneficiaries identified and in the same manner as provided in the Articles that follow provided,
however, that my Trustee, in its sole discretion, may continue the method of distribution from
such plans which was being used by me prior to my death.
� -
� 10-1
� Article Eleven
Division and Distribution of Trust Property
Section 1. Division of Trust Property Into Shares
My Trustee shall divide all trust property not previously distributed into separate shares as
follows:
Beneficiary Name Share
MILLARD W[LLIAM LANDIS 33 1/3
JAMES E. LANDIS 33 1/3
MY GRANDCHILDREN 33 1/3
Section 2. Distribution of Trust Sha�•es for My Beneficiaries
The trust share of each beneficiary named in Section 1. of this Article who survives lne shall be
held, administered and distributed as follows:
�
� �. Distribution of Trust Sh�re for MILLARD WILLIAM LANDIS
The trust share set aside for MILLARD W1LLiAM LANDIS sl�all be held,
administered and distributed as follows:
1. Distributions of Net Income
My Trustee shall immediately pay to, or apply for the
benefit of such beneficiary all accumulated net income, free
of the trust.
2. Disti•ibutions of Princip�l
My Trustee shall immediately pay to, or apply for the
benefit of, MILLARD WILLIAM LANDIS all accumulated net
income and principal, free of the trust.
� 11-1
�.��
� 3. Distribution on Death of Beneficiary
�
If such beneficiary should die before the complete distribution of the
trust share, such trust shall terminate and my Trustee shall distribute
the balance of the trust property to such beneficiary's then living
descendants per stirpes.
If such beneficiary has no then living descendants, my Trustee shall
distribute the balance of the trust property to my then living descen-
dants per stirpes.
If I have no then living descendants, my Trustee shall distribute the
balance of the trust property as provided for in the Articles that follow.
b. Distribution of Trust Share for JAMES E. LANDIS
The trust share set aside for JAMES F. LANDIS shall be held, administered and
distributed as follows:
1. llistributions of Net Income
�,. My Trustee shall immediately pay to, or apply for the
benefit of such beneficiary all accurnulated net income, fi•ee
of the trust.
2. Distributions of Principal
My Trustee shall immediately pay to, or apply far the
benefit of, JAMES E. LANDIS all accumulated net income and
principal, free of tlie trust.
3. Distribution on Death of Bene�ciary
If such beneficiary should die before tlie complete distribution of the
trust share, such trust shall terminate and my Trustee shall distribute
the balance of the trust property to such beneficiary's then living
descendants per stirpes.
�
�,..-- 11-2
If such beneficiary has no then living descendants, my Trustee shall
�,, distribute the balance of the trust property to my then living descen-
dants per stirpes.
If I have no then living descendants, iny Trustee shall distribute tl�e
balance of the trust property as provided for in the Articles that follow.
c. Distribution of Trust Share for MY GRANDCHILDREN
The trust share set aside for MY GaANDCHILDREN shall be held, administered
and dish�ibuted as follows:
1. Distributions of Net Income
My Trustee in its sole and absolute discretion shall apply to,
or for the benefit of, such beneficiary so much of the net
income from the trust share as �ny Trustee deems advisable
for such beneficiary's education, health, maintenance and
support.
4 2. Distributions of Principal
�.-
My Trustee, in its sole and absolute discretion, shall apply
to, or for the benefit of, MY GRANDCHILDREN so much of
the principal as my Trustee deems advisable for the
education, health, maintenance and support.
When each of MY GRANDCHILDREN reaches the age of 25
years, or on the creation of such trust any of MY
GRANDCHILDREN have already attained the age of 25, my
Trustee shall distribute 1/2 of their share of the accumulated
net income and principal to such beneficiary, free of the
trust.
When each of MY GRANDCHILD2EN reaches the age of 30
years, or on tlie creation of such trust any of MY
GRANDCHILDREN have already attained the age of 30, my
Trustee shall distribute the remaining accumulated net
income and principal to such beneficiary, fi•ee of the trust.
��,�,,,, 11-3
� 3. Dish•ibution on Death of Bene�ci�ry
If sucli beneficiary should die before the complete distribution of the
trust share, such trust shall terininate and my Trustee shall distribute
the balance of the trust property to such beneficiary's then living
descendants per stirpes.
If such beneficiary has no then living descendants, my Trustee shall
distribute the balance of the trust property to my then living descen-
dants per stirpes.
If I have no then living descendants, my Trustee shall distribute the
balance of the trust property as provided for in the Elrticles that follow.
Section 3. Distributions to Underage or Disabled Beneficiaries
Notwithstanding any other provision in this trust agreement, if any person otherwise entitled to
receive a distribution of trust property is under 30 years of age or is mentally disabled or legally
incompetent as defined in Article Twelve, my Trustee shall retain and administer that person's
trust property for his or her benefit as follows:
w
a. My Trustee's Discretion
"�...:
My Trustee may pay to or apply for the benefit of such beneficiary so much of
the net income and principal of the trust as my Trustee, i�1 its discretion, deems
proper considering all other sources of incotne and resources available to such
beneficiary and known to my Trustee.
b. P�yments M�de to Bene�ci�ry or Person�l Represent�tive
My Trustee is authorized to make payments under this Section either directly to
the beneficiary, to the beneficiary's personal representative or to any other
person my Trustee may deem proper to be used for the benefit of the
beneficiary.
c. Trustee's Decisions are Fin�(
All decisions by my Trustee as to those it inakes payinent to, the purposes for
which these payments are made, and the amounts to be paid out of the trust are
within iny Trustee's sole but reasonable discretion.
'�,,,�,; 11-4
d. Unclistributed Net Income
�.
All undistributed net income shall be accumulated and added to the principal of
the trust.
e. Termination and Distribution
My Trustee shall distribute the trust property to a beneficiary under this Section
when such beneficiary reaches age 30, or when he or she is no longer disabled
as determined by a court of competent jurisdiction, or upon certification by two
licensed physicians that such beneficiary is able to properly care for his or her
property and person.
f. Death of Disabled or Underage BeneGciary
Upon the death of a beneficiary under this Section, my Trustee shall distribute
all of such beneficiary's remaining trust share, including the trust principal and
accrued and undistributed income, to any person or entity, and upon any trust,
terms, and conditions, or to or in favor of the estate of such deceaseci
beneficiary, as he or she inay direct by his or her last will or living trust
agreement. No exercise of this general power of appointment shall be effective
unless it refers to this trust agreement and expressly indicates an intention to
exercise this general power of appointment.
�,,��
4
�, 11-5
� Article Twelve
Distribution if No Designated Beneficiaries
NONE
`�....-
`�•,.-- 12-1
�" Section 5. Change in Corporate Trustee
Any corporate successor to the trust business of any corporate Trustee nained under this
agreement or acting hereunder shall succeed to the capacity of its predecessor without
reconveyance or transfer of trust property.
Section 6. Power to Divide or Combine Trusts
My Trustee shall have the power to divide a single trust into separate shares eacll to be
adininistered in accordance with the terms and conditions of the single trust from which they
were created when rny Trustee in its discretion determines that division is desirable or advisable
in view of tax considerations, including considerations related to the income tax, the gift tax, the
estate tax or the generation-skipping transfer tax or other objectives of the trusts and their
benef ciaries.
My Trustee shall not be required to rnake a physical segregation or division of the various trust
shares created under this trust agreement except as segregation or division may Ue required Uy
reason of the terrnination and distribution of any of the trusts, but my Trustee shall keep separate
accounts and records for different undivided interests.
� My Trustee in its discretion shall have the further power to combine two or more trusts l�aving
^�'' substantially the same terms into a single trust for purposes of administration when tax or other
factors indicate that such combination would be desirable or advisable.
In deciding whether to combine trusts, my Trustee should consider the generation-skipping
"inclusion ratio" of the trusts to be coinbined. Trusts having the saine inclusion ratios may be
coinUined. Trusts having different inclusion ratios should generally not be combined unless their
inclusion ratios are maintained unchanged through substantially separate and independent shares
of different beneficiaries within the ineaning of I.R.C. Section 2654(b), and the applicable
regulations thereunder.
Specifically, my Trustee has the authority to allocate any portion of my exemptions under Internal
Revenue Code Section 2631(a) to property as to which I am the transferor, including any propet•ty
transferred Uy me during my lifetime as to which I did not inake an allocation prior to my death,
and my Trustee has the authority to make the special election under Internal Revenue Code
Section 2652(a)(3). If Internal Revenue Code Section 2631(a) or 2652(a)(3) is not interpreted
as to allow a Trustee to exercise such election, then my personal representatives is authorized to
allocate my exemptions and to exercise the said special election.
If my Trustee considers that any distribution from a trust or share hereunder, other than pursuant
to a power to withdraw or appoint, is a taxable distribution subject to the federal
generation-skipping transfer tax payable by the distributee, my Trustee may increase the
i.
'�._.- 13-2
� distribution by an amount which my Trustee would estimate to be sufficient to pay that tax, and
shall charge the same against the trust or share to which the tax relates.
If iny Trustee considers that any terinination of an interest in the trust property hereunder is a
taxable termination subject to the federal generation-skipping transfer tax, my Trustee may pay
that tax from the portion of the property to which the tax relates, without any adjustment of the
relative interests of the beneficiaries.
Section 7. Termination of Small Trust
My Trustee shall have the power in its discretion to terminate any trust created under this trust
agreement whenever it becomes so small in relation to the costs of adtninistration as to make
continuing administration uneconomical. Upon termination my Trustee shall distribute tlie
principal and any accrued or undistributed net income to the income beneficiaries in proportion
to their shares of the income. If no fixed amount of income is payable to specific beneficiaries,
my Trustee shall distribute the principal and any accrued or undistributed net income in equal
shares to those beneficiaries who would then be entitled to income payments from the trust.
Section 8. Limit on Trustee's Discretion
Notwithstanding any language purporting to confer absolute, sole or unrestricted discretion on my
�'� Trustee in exercising any discretionary power with respect to this trust, my Trustee shall at all
times act in accordance with fiduciary principles and shall not act in bad faith or in disregard of
the purposes of my trust.
Nothwithstanding any other provision in this trust agreement, no individual Trustee who is also
a beneficiary hereunder shall have any right, power, duty or discretion concerning this trust if
such right, power, duty or discretion conferred upon such Trustee under this trust agreeinent is
determined to be a general power of appointment under Internal Revenue Code Section 2041 or
2514 which would cause any assets of this Trust to be included in the estate of such
Trustee-beneficiary. Any such right, power, duty or discretion with such effect shall be null and
void with respect to such Trustee-beneficiary. No Trustee who is under a legal obligation to any
beneficiary of this trust or other person shall under any circumstances partake in any decisions
relating to any discretionary distributions of income or principal of this trust which can be used
for any such legal obligation to airy such beneficiary or other person.
Section 9. Written Notice to Trustee
Until my Trustee receives written notice of any death or other event wliich triggers the right to
payments froin any trust created under this agreement it shall incur no liability for distributions
made in good faith to persons whose interests may have been affected by such event.
4``�-' 13-3
� Section 10. Duty to Account
My Trustee shall render accounts, upon request, to the income beneficiaries under this trust
agreeinent at least annually, at the terinination of a trust created hereunder, and upon a change
in the Trustees in the manner required by law.
Section 11. No Court Supervision
No trust created under this agreement shall require the active supervision of any state or federal
court.
�
�
°"�' 13-4
� Article Fourteen
Trustee Investment Powers
Section 1. Trustee's Powers
To carry out the purposes of the trusts created under this agreement and subject to any lirnitations
stated elsewhere in this instrument my Trustee shall have all oF the following powers, in addition
to all of the powers now or hereafter conferred on Trustees by law:
a. Retention of Property
My Trustee shall have the power to retain any property received into the trust
at its inception or later added to the trust without regard to whether the trust
investments are diversified as long as tny Trustee considers that retention is in
the best interests of the trust or in furtherance of my goals in creating the trust.
My Trustee shall have the power to invest and reinvest in any property that may
Ue considered by applicable state law to be underproductive or unproductive in
nature, and specifically to be exempt from any minimum income requirements
called for under local law.
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b. Additions
My Trustee shall have the power to receive additions to the assets of the various
trusts created under this agreement from any source.
c. Business PRrticipation
My Trustee shall have the power to terminate, to continue or to participate in the
operation of any business enterprise including a corporation a sole proprietorship
or a general or limited partnership and to effect any form of incorporation,
dissolution, liquidation, reorganization including but not limited to
recapitalization and reallocation of classes of shares or other change in the form
of tlie business enterprise or to lend money or make a capital contribution to any
such business enterprise.
d. Permissible Investments
My Trustee shall have the power to invest and reinvest the assets of the trust as
my Trustee may deterinine to be in the best interests of the trust without
limitation by any law applicable to invest�nents by fiduciaries. The permitted
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� investments and reinvestments may include securities such as common or
preferred stock, mortgages, notes, subordinated debentures and warrants of any
corporation and any common trust fund administered by a corporate fiduciary
or other property, real or personal, including savings accounts and deposits and
interests in mutual or money market funds or investment trusts, amluities and
insurance whether or not such investments are unsecured or of a wasting nature.
My Trustee shall have the power to obtain, by purchase or Uy gift (or by
conversion, reissue, consolidation or by any other means), and hold as an asset
of this trust, policies of insurance on my life or any other beneficiary of this
trust. My Trustee is authorized and empowered to exercise, either before or
after my death, all of the rights, options, elections or privileges exercisable in
connection with such policies. These rights and options should include, but not
be liinited to, disability benefits, the right to borrow money with which to pay
premiums (or other charges) on any policy owned by this trust (including any
automatic premium loan feature) or for any other trust purpose, the right to elect
ainong settlement options offered by the insurance company which issued such
policy, the right to convert such policy to paid-up insurance, extended term
insurance or to any different form of insurance, and the right to arrange for the
automatic application of dividends in reduction of premium payments (or other
charges), with regard to any policy of insurance held in the trust estate.
e. Dealing with Property
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My Trustee shall have the power to acquire, grant or dispose of property,
including puts, calls and options (including options on stock owned by the
estate), for cash or on credit including maintaining margin accounts with brokers
at public or private sale upon such terms and conditions as the fiduciary may
deem advisable and to manage, develop, improve, exchange, partition, change
the character of, abandon property or any interest therein or otherwise deal with
property.
Specifically, my Trustee shall have the power to use and expend the trust income
and principal to conduct environmental assessments, audits, and site monitoring
to determine compliance with any environmental law or regulation thereunder;
to take all appropriate remedial action to contain, clean up or remove any
environmental hazard including a spill, release, discharge or contamination,
either on my Trustee's own accord or in response to an actual or threatened
violation of any environmental law or regulation thereunder; to institute legal
proceedings concerning environmental hazards or contest or settle any such legal
proceedings brought by any local, state or federal agency concerned with
enviromnental compliance, or by a private litigant; to comply with any local,
state or federal agency order or court order directing an assessment, abatement
or cleanup of any environmental hazards; to employ agents, consultants and legal
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� counsel to assist or perform the above undertakings or actions; and in general to
take all appropriate actions to prevent, identify, or respond to any actual or
threatened violations of any eriviromnental law or regulation thereunder.
No Trustee under this trust agreement shall be liable for any loss or depreciation
in value sustained by this trust as a result of the Trustee retaining any property
upon which there is later discovered to be hazardous materials or substances
requiring remedial action pursuant to any federal, state or local environmental
law, unless the Trustee contributed to the loss or depreciation in value through
willful default, willful tnisconduct, or gross negligence. Moreover, no Trustee
shall be obligated to accept any property on behalf of this trust without first
having the opportunity to satisfy itself, in its sole discretion, that such property
is not contaminated by any hazardous or toxic materials or substances, and that
such property is not being used and has never been used for any activities
directly or indirectly involving the generation, use, treatment, storage, disposal,
release, or discharge of any hazardous or toxic materials or substances. Finally,
such Trustee shall have the power to disclaim any power which, in its sole
discretion, will or may cause such Trustee to be considered an "owner" or
"operator" of property held in our trust estate under the provisions of the
Comprehensive Environmental Response, Compensation and Liability Act
(CERCLA), as amended from time to time. This power to disclaiin as contained
herein shall apply to any such power, whether actually set forth under this trust
agreement, incorporated by reference herein, or granted or implied by any statute
(�,,.,..- or rule of law.
f. Borrowing Authority
My Trustee shall have the power to borrow funds from any person including my
Trustee guarantee indebtedness or indemnify others in the name of the trust and
to secure any such obligation by mortgage, pledge, security interest or other
encumbrance and to renew, extend or modify any such obligation for a term
within or extending beyond the administration of the term of the trust. No
lender shall be bound to see to or be liable for the application of the proceeds
of any obligation and my Trustee shall not be personally liable for any
obligation.
g. Leasing Authority
My Trustee shall have the power to make, renew or amend for any purpose a
lease as lessor or lessee for a terin within or beyond the term of the trust with
or without option to purchase.
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� h. Natural Resources
My Trustee shall have the power to enter into any arrangement or agreement
including a lease,pooling or unitization agreement, for exploration,development,
operation, conservation and removal of ininerals or other natural resources.
i. Voting Rights
My Trustee shall have the power to vote a security in person or by general or
liinited proxy, to participate in or consent to any voting trust, reorganization,
dissolution, liquidation or other action affecting any securities and to deposit
securities with and transfer title to a protective or other committee.
j. Title to Assets
My Trustee shall have the power to hold securities and other property in
negotiable form or in the name of a norninee (including "street name" of a
broker) or by deposit to a clearing corporation with or without disclosure of the
Trustee relationship, but my Trustee shall be responsible for the acts of any
nominee or clearing corporation in connection with the property.
k. Insurance
� My Trustee shall have tlie power to insure the assets of the trust against any risk
and my Trustee against liability with respect to third persons.
1. Settlement of Disputes
My Trustee shall have the power to pay or contest any debt or claim and to
compromise, release and adjust any debt or claiin and to suUmit any matter to
arbitration.
m. Payment of Expenses
My Trustee shall have the power to pay any taxes, assessments, reasonable
compensation of my Trustee and other expenses incurred in the collection,
management, care, protection and conservation of the trust property.
n. Principal and Income
My Trustee shall have the power to allocate items of income or expenditure to
either income or principal and to create reserves out of the income all as
provided by law and to the extent not so provided to allocate or create reserves
as my Trustee in its discretion deems appropriate and my Trustee's decision
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� made in good faith with respect thereto shall be binding and conclusive on all
persons.
Notwithstanding the preceding sentence, if the Survivor's Trust (or a share
hereunder) is the beneficiary or owner of a Retirement Account, income earned
after the participant's death in the account shall be income of the Trust or share,
and if my Trustee is required to pay all of the trust income to a beneficiary, my
Trustee shall collect and pay the income of the account to the beneficiary at least
quarterly (and to the extent that all of the income cannot be collected from the
account, the deficiency shall be paid from the principal of the trust).
o. Division of Trust
My Trustee shall have the power to make any distribution or payment in lcind
or in cash or partly in kind and partly in cash and to cause any share to be
composed of cash, property or undivided interests in property different in kind
from any other share either pro rata or non pro rata without regard to differences
in the tax basis of such property and without the requirement of making any
adjustment of the shares by reason of any action taken pursuant hereto.
Any division, allocation, apportionment or valuation of the property to distribute
the assets to or among any of the trusts or beneficiaries shall be made by my
Trustee and the good faith deterinination of my Trustee shall be binding and
f�,, conclusive on all parties.
p. Merger of Trust
If at any tiine the Trustees are Trustees of two or more Trusts or Shares with
substantially the same terms and benefiting the same benef ciaries, created
hereunder, or under any other instrument by the Trustors or by any other person,
the Trustees may coinmingle the assets of such Trusts or Shares and hold them
as a single Trust or Share.
q. Litigation
My Trustee shall have the power to prosecute or defend actions, suits, claims or
proceedings for the protection or benefit of the trust and my Trustee in the
performance of my Trustee's duties.
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� r. Einployment of Agents
My Trustee shall have the power to einploy agents including attorneys,
accountants, investment advisors, custodians, appraisers or others to advise or
assist my Trustee and to delegate to them fiduciary powers and to indemnify
theni against liability for positions taken in good faith and with reasonable basis.
s. Corporate Fiduciaty
If any stock of a corporate Trustee or of any affiliate or successor of a corporate
Trustee shall be included in the assets of the trust, the Trustee shall have full
authority in the Trustee's sole discretion and notwithstanding any regulation or
rule of law to the contrary to retain the stock and any increases resulting fi�om
stock dividends and stock splits and from the exercise of purchase rights and the
purchase of fractional shares needed to round out fractional share holdings that
may arise concerning the stock. The Trustee shall vote the stock either directly
or by proxy except to the extent the Trustee is prohibited by law from voting the
stock in accordance with the written instructions of a majority of the living
beneficiaries then entitled to current distributions of income or their personal
representatives. In the event there are no eligible beneficiaries to give
instructions, the Trustee is authorized to vote the stock in the best interests of
the beneficiaries in view of the purposes for which the trust was created.
�.,.,,,- t. Investment Transactions
With regard to record keeping for investment transactions, my Trustee need not
provide copies of confirmations or similar notifications each time a trade or
investment transaction occurs, but investment transactions shall be set forth in
my Trustee's periodic accounting.
u. Repairs and Improvements
My Trustee shall have the power to make ordinary or extraordinary repairs or
alterations in buildings or other structures, to demolish any improvements, to
raze existing or erect new party walls or buildings.
v. Business Personnel
My Trustee shall have the power to elect or employ directors, officers,
employees, partners or agents of any business and to compensate such persons
whether or not any such person is a Trustee, director, officer, partner or agent
of a Trustee or a beneficiary of the trust.
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� w. Farm or Ranch Property
With respect to farm or ranch property, my Trustee shall have the power to
participate in and operate any farming (including tree farming) or ranch
operation personally or with hired labor, tenants or sharecroppers to lease any
farm for cash or a share of crops under a lease which permits or precludes the
material participation of tny Trustee, to fertilize and improve the soil, to employ
conservation practices, and to participate in goverrunent programs and to perform
any other acts deemed necessary or desirable to operate the property. In making
a decision whether to inaterially participate in farming or ranch operations, my
Trustee shall consider whether an election should be made or has been made
under IRC § 2032A to qualify for special farm-use valuation.
x. Ancillary Trustees
If for any reason my Trustee deems it advantageous to act through an ancillary
Trustee, my Trustee rnay designate an ancillary personal representative or
Trustee qualified to serve in the jurisdiction where such ancillary Trustee is to
act and may delegate to such ancillary Trustee such of the powers granted under
this agreement as my Trustee deems advisable without being chargeable with
loss if any arising out of such designation or delegation. My Trustee may
specify whether any corporate Trustee or any person or persons acting in an
, ancillary capacity hereunder shall serve with or without bond. Except as may
� be otherwise specifically provided, no ancillary Trustee need comply with the
provisions of any Uniform Trustee's Accounting Act, the Uniform Trust Act or
similar acts in force in any state where the Trustee may be acting.
y. Retention of Closely Held Interest
My Trustee shall have the power to retain any real estate interests, closely l�eld
securities or affiliated companies or business interests and to sell or dispose of
such interests only after carefiil consideration and after determining that sale or
disposition is in the existing circumstances in the best interests of the trust or its
beneficiaries.
If at any time, this trust holds any stock in an S corporation, and our Trustee
deems it appropriate for such corporation to maintain its Subchapter S election,
my Trustee tnay take all of the necessary actions to segregate the S corporation
stock and assets of this trdst, and in �ny Trustee's sole but reasonable discretion,
and otherwise consistent with tlie terms of this trust to the greatest extent
possible, may form new trusts and may amend the terms of this trust agreement
as would be necessary to establish Qualified Subchapter S Trusts to hold the said
S corporation stock and assets in compliance with Internal Revenue Code
Sections 1361(b) and 1361(d)(3).
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z. Exercise of Autliority
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Except as otherwise provided in this agreement, my Trustee shall have the power
to do all acts that might legally be done by an individual in absolute ownership
and control of property.
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� Article Fifteen
General Provisions
Section 1. Spendthrift Protection
Neither the principal nor the income of any trust created or contained under this agreement sl�all
be liable for the debts of a beneficiary nor shall the same be subject to seizure by any creditor
of any beneficiary under any lien or proceeding at law or equity. �xcept to the extent otherwise
expressly provided in this agreement, no beneficiary shall have authority or power to sell, assign,
transfer, encumber or in any manner to anticipate or dispose of a beneficial interest whether
income or principal. The limitations herein shall not restrict the exercise of any power of
appointment or the right to disclaim by any beneficiary.
Section 2. The Rule Against Perpetuities
Unless sooner terminated or vested in accordance with other'provisions of this agreement, all
interests not otherwise vested including but not limited to all trusts and powers of appointment
created hereunder shall terminate twenty-one (21) years after the death of the last survivor of the
group composed of ine and my lineal descendants living on the date of my death. At that time
�,, dish�ibution of all principal and all accrued, accutnulated and undistributed income shall be made
to the persons then entitled to distributions of incoine and in the manner and proportions herein
stated or if not stated equally irrespective of their tlien attained ages.
Section 3. Incompetency and Disability
I'or all purposes under tllis agreement a person shall be deemed disabled, incompetent or legally
incapacitated if and so long as a guardian or conservator of his or her person or estate duly
appointed by a court of competent jurisdiction continues to serve, or upon certification by two
licensed physicians that such person is unable properly to care for his or her person or property.
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( Section 4. Income and Principal Payments
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All payments of income or principal shall be made in such of the following ways as my Trustee
determines appropriate:
a. To each respective beneficiary in person upon his or her personal
receipt;
b. Deposited in any bank to the credit of such beneficiary in any
account carried in his or her naine or jointly with another or others;
c. To the parent or legal representative of the beneficiary;
d. To a Custodian under a Uniform Transfers to Minors Act selected by
my Trustee for such period of time under applicable law as our
Trustee determines appropriate;
e. To some near relative, friend or institution having primary
responsibility for the care and custody of the benefciary;
f. By my Trustee using such payment directly for the benefit of such
beneficiary; or
`»� g. To iny Trustee of any revocable trust of which the beneficiary is the
Trustor.
Section 5. Ed�cation
For all purposes under this agreement the term "education" shall be given broad interpretation and
may include but not be limited to:
a. High School
Education at public or private elementary or high schools including boarding
schools.
b. College
Undergraduate and graduate study in any and all fields whatsoever whether of
a professional character in colleges or other institutions of higher learning.
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� c. Specialized Training
Specialized formal or informal training in music, the stage, the handicrafts, the
arts or vocational or trade schools whether by private instruction or otherwise.
d. Other Educ�tional Activities
Any other activity including foreign or domestic travel which shall tend to
develop fully the talents and potentialities of each beneficiary regardless of age.
Section 6. No-Contest Clause
If any person or entity, other than me, singularly, or in conjunction with any other person or
entity, directly or indirectly, contests in any court the validity of this trust agreeinent, including
any amendments thereto, then the right of that person or entity to take any interest in the trust
property shall cease, and that person (and his or her descendants) or entity shall be deemed to
have predeceased me.
Section 7. Disclaimer by Beneficiary
�' No beneficiary shall be entitled to accelerate any distribution to the beneficiary or to terininate
his or her trust interest and thereafter receive outright distribution by use of a disclaimer.
Section 8. Simultaneous Death
lf any beneficiary under this agreement and I die under circumstances in which the arder of their
deaths cannot be established, I shall be deemed to have predeceased the beneficiary and this
agreement shall be construed accordingly.
Section 9. Children and Issue
Por purposes of this agreement "children" means the lawful blood descendants in the first degree
of the parent designated and "issue" and "descendants" mean the lawful blood descendants in any
degree of the ancestor designated provided, however, that if a person has been adopted that
person shall be considered a child of such adopting parent and such adopted child and his or her
issue shall be considered as issue of the adopting parent or parents and of anyone who is by
blood or adoption an ancestor of the adopting par.ent or either of the adopting parents. The terms
"child," "children," "issue," "descendant" and "descendants" or those terms preceded by the terms
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� "living" or "then-living" shall include the lawful blood descendant in the first degree of the parent
designated even though such descendant is born after the death of such parent.
Section 10. Definition of Death Taxes
The term "death taxes" as used in this agreement shall mean all inheritance, estate, succession and
other similar taxes that are payable by any person on account of that person's interest in the estate
of the decedent or by reason of the decedent's death including penalties and interest but excluding
the following:
a. Any addition to tlie federal estate tax for any "excess retirement
accuinulation" under Internal Revenue Code Section 4980A.
b. Any additional tax that may be assessed under Internal Revenue Code
Section 2032A.
c. Any federal or state tax imposed on a generation-skipping transfer as
that term is defined in the federal tax laws unless that generation-
skipping transfer tax is payable directly out of the assets of a trust
created by this instrument.
�`�•-- Section 11. Words Relating to the Internal Revenue Code
As used in this agreement the words "gross estate," "adjusted gross estate," "taxable estate,"
"unified credit," "state death tax credit," "maximum marital deduction," "marital deduction,"
"pass" and any other word or words which from the coxitext in which it or they are used refer
to the Internal Revenue Code shall have the same meaning as such words have for the purposes
of applying the Internal Revenue Code to my estate.
For purposes of this agreement my "available generation-skipping transfer exemption" means the
generation-skipping transfer tax exemption provided in section 2631 of the Internal Revenue Code
of 1986 as amended in effect at the time of my death reduced by the aggregate of(1) the amount
if any of my exemption allocated to my lifetime transfers by me or by operation of law, and (2)
the amount, if any, 1 have specifically allocated to other property of my gross estate for federal
estate tax purposes.
For purposes of this trust agreement if at the time of my death I have made gifts with an
inclusion ratio of greater than zero for which the gift tax return due date has not expired
including extensions and I have not yet filed a return, it shall be deemed that my generation-
skipping transfer exemption has been allocated to these transfers to the extent necessary and
possible to exempt the transfers from generation-skipping transfer tax.
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� Reference to Sections of the Internal Revenue Code and to the Internal Revenue Code shall refer
to the Internal Revenue Code amended to the date of my death.
Section 12. Personal Representative
For purposes of this agreement the term "personal representative" shall mean Trustee, executor,
executrix, administrator, administratrix, conservator, guardian, custodian or any other type of
personal representation.
Section 13. Gender and Nu�nbei•
In this agreement where appropriate except where the context otherwise requires, the singular
includes the plural and words of any gender shall not be limited to that gender.
Section 14. Definition of Per Stirpes
As used in this agreement when a distribution to beneficiaries is "per stirpes" it shall mean that
the distributions are to be divided into as many equal shares as there are then-living children of
such beneficiaries and deceased children of such beneficiaries who left then-living descendants.
� Each then-living child of the beneficiary shall receive one share and the share that is allocated
to eac17 deceased child of the beneficiary shall be divided equally among such deceased child's
then-living descendants.
Section 15. Captions
The captions of Articles, Sections and Paragraphs used in this agreement are for convenience of
reference only and shall have no significance in the construction or interpretation of this
agreement.
Section 16. Severability
Should any of the provisions of this agreement be for any reason declared invalid, such invalidity
shall not affect any of the other provisions of this agreement and all invalid provisions shall be
wholly disregarded in interpreting this agreement.
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( Section 17. Stat�tory References
�✓
Unless the context clearly requires another construction each statutory reference in this agreement
shall be construed to refer to the statutory section mentioned, related successor sections and
corresponding provisions of any subsequent law including all amendments.
Section 18. Governing State Law
This agreement and the trusts created under it shall be construed, regulated and governed by and
in accordance with the laws of the Commonwealth of Pennsylvania.
I have executed this agreement on the date set forth on the first page of this agreement.
I certify that I have read the foregoing revocable living trust agreement and that it correctly states
the terms and conditions under which my trust property is to Ue held, managed and disposed of
by my Trustee(s). I approve this revocable living trust in all particulars and request my
Trustee(s) to execute it.
' �� ,
MILLARD W. LANDIS, Trustor
�...✓' �
�'l./ •
MILLARD W. LANDIS, Trustee MARTHA M. LANDIS, Trustee
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ir,.✓ STATE OF PENNSYLVANIA )
SS
COUNTY OF DAUPHIN )
On this the� day of , 19�V , before me, \ ,
the undersigned officer, person appeared MILLARD W. LANDIS, Trustor, own to me (or
satisfactorily proven) to be the person whose name is subscribed to the within instrument and
acknowledged that he executed the same for the purposes therein contained. ,
In w' i ss whereo �-hereun s my hand and official seal. .
c
Notary Public
Title of Officer
STATE OF PENNSYLVANIA )
SS
COUNTY OF D UPHIN )
� On this the �/ day of , 19 , Uefore me, ,
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the undersigned officer, person y appeared MILLARD W. LANDIS and MA HA M. LANDIS,
Trustees, known to me (or satisfactorily proven) to be the persons whose names are subscribed
to the within instrument and acknowledged that they executed the same for the purposes therein
contained.
In wi es where I her nt set my hand and official seal.
Notary Public
Title of Officer
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