HomeMy WebLinkAbout05-01-15 J � pennsylvania 15�5 61410 5
� oFennlnFrvroFAEVEHUE EX(03-14)(FI)
REV-1500 OFFICIAL USE ONLY
Bureau of Individual Taxes County Code Year File Number
Po aox z8o6o1 INHERITANCE TAX RETURN
Harrisburg, PA 17128-0601 RESIDENT DECEDENT � � ' � 4 �� ��
ENTER DECEDENT INFORMATION BELOW
Social Security Number Date of Death MMDDYYYY Date of Birth MMDDYYYY
08082014 06091928 '
DecedenYs Last Name Suffix DecedenYs First Name MI
Sjoberg Monica E
(If Applicable)Enter Surviving Spouse's Information Below
Spouse's�ast Name Suffix Spouse's First Name MI
THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
REGISTER OF WILLS
FILL IN APPROPRIATE OVALS BELOW
� 1.Original Return p 2. Supplemental Return p 3. Remainder Return(date of death
prior to 12-13-82)
p 4.Agriculture Exemption(date of 0 5. Future Interest Compromise(date of p 6. Federal Estate Tax Return Required
death on or after 7-1-2012) death after 12-12-82)
� 7. Decedent Died Testate � 8. Decedent Maintained a Living Trust _ 9. Total Number of Safe Deposit Boxes
(Attach copy of will.) (Attach copy of trust.)
p 10. Litigation Proceeds Received p 11. Non-Probate Transferee Return p 12. Deferral/Election of Spousal Trusts
(Schedule F and G Assets Only)
O 13. Business Assets � 14. Spouse is Sole Beneficiary
(No trust involved)
CORRESPONDENT- THIS SECTION MUST BE COMPLETED.ALL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED T0:
Name Daytime Telephone Number
,Johnna J Kopecky Esquire - (717) 221-1111
First Line of Address
The Shagin Law Group
Second Line of Address _ _ __
120 South Street
City or Post Office State ZIP Code
Harrisburg PA 17101
_ _ . _ __ �, �
CorrespondenYs email address: 1kOp2Cky@ShagInl8W.00171 ,_..� � h'1
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REGISTER O��IIIL 'USE O�j -"
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REGISTER OF WILLS USE ONLY � � L'� ,��� t'^n
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DA�E FILED MMDDYYYY „� �- 'r,; F"'� �-�
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DATE FILED$TAIVIP ` CJ�
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PLEASE USE ORIGINAL FORM ONLY
Side 1
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IIIIIl.11Y IIIIII11 . 1
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REV-1500 EX(FI)
DecedenYs Sociai Security Number
�ecedent'sName: Sjobe�g, Monica E. 381-24-4834
RECAPITULATION
Schedule A). . . . . . . . . . . . . . .. .. .. .. . . . . .. . . . . . . . . . . . . . .. .. 1. ' 178,739.76 '
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 and Notes Receivable Schedule D 4. 0.00 '
9 9 � ) .. .. .. . . . .. . . . . . . . . . . . . . .. .
5. Cash, Bank Deposits and Miscellaneous Personal Property(Schedule E). . . .. . . 5. ' 6,487.00 '
6. Jointly Owned Property(Schedule F) O Separate Billing Requested . .. .. . . 6. '
____
7. Inter-Vivos Transfers&Miscellaneous Non-Probate Property
(Schedule G) O Separate Billing Requested.. . .. .. . 7. 19,492.76
8. Total Gross Assets(total Lines 1 through 7). . .. .. .. . . . .. .. . . . . . .. . . .. .. . 8. 204,718.76 '
9. Funeral Expenses and Administrative Costs(Schedule H).. . . . . . . . .. . . . . . . . . 9. ' 14,025.78
10. Debts of Decedent, Mortgage Liabilities and Liens(Schedule I).. .. .. .. . .. . . . . 10. ' 36,351.00 '
11. Total Deductions(total Lines 9 and 10). . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 11. 50,376.78 '
12. Net Value of Estate(�ine 8 minus Line 11) .. . . .. . . . .. .. . . . . . .. .. .. . . . . .. 12. 154,341.98 '
13. Charitable and Governmental Bequests/Sec.9113 Trusts for which ',
an election to tax has not been made(Schedule J) . . .. . . . . . . . . . . . . . . . . . .. . 13.
14. Net Value Subject to Tax(Line 12 minus Line 13) . .. .. .. . . . .. . .. . . . . . . . .. 14. 154,341.98 '
TAX CALCULATION-SEE INSTRUCTIONS FOR APPLICABLE RATES
15. Amount of Line 14 taxable
at the spousai tax rate,or
transfers under Sec. 9116 _ _
�a)�1.2)X A- 15.
16. Amount of Line 14 taxable
at lineal rate X.0 45 154,341.98 '. �g. 6,945.39
17. Amount of Line 14 taxable
at sibling rate X.12 ', 17. '
. __ .
18. Amount of Line 14 taxable ' '
at coilateral rate X.15 18.
19. TAX DUE .. .. .. . . . . . . .. . . . . . . . . . . . . . . . . . . . . .. .. . .. .. . . . . . . . . . . . . . . 19. 6,945.39 '
20. FILL IN THE OVAL IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT O
Under penalties of perjury,i declare 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 person responsible for fling the return is based on all information of which preparer has
any knowledge.
SI UR OF PER SPONSIBIE FOR FILING RETURN DATE
� b'�PRz�,Za1S
DRESS .�C�I 71 FOrZJ�l�'`�R�F�'�1�'7
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SIGNATURE OF PREPA R OTHER HA � RSON ESPONSIBLE FOR FILING THE RETURN DATE
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ADDRESS 7 -�-�j � �� i
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REV-1500 EX (FI) Page 3 File Number
Decedent's Complete Address:
DECEDENT'S NAME
Sjoberg, Monica E
--..__- _._._-- --.._.___
_.___
STREETADDRESS
105 Charles Street
CITY 'i STATE ZIP
Carlisle PA 17013
Tax Payments and Credits:
1. Tax Due(Page 2,Line 19) (1) 6,945.39
2. CreditslPayments
A.Prior Payments
B.Discount
(See instructions.) Total Credits(A+B) (2)
3. Interest
(3)
4. If Line 2 is greater than Line 1 +Line 3,enter the tlifference. This is the OVERPAYMENT.
Fill in oval 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) 6,945.39
Make check payable to: REGISTER OF WILLS, AGENT.
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 .............................................................................................................................. � ❑
d. receive the promise for life of either payments,benefits or care?...................................................................... ❑ �
2. If death occurred after Dec. 12, 1982,did tlecedent transfer property within one year of death
without receiving atlequate 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
contains a beneficiary designation? ........................................................................................................................ � ❑
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS YES,YOU MUST COMPLETE SCHEDULE G AND FILE IT AS PART OF THE RETURN.
For dates of death on or after July 1, 1994,and before Jan. 1, 1995,the tax rate imposed on the net value of transfers to or for the use of the surviving spouse
is 3 percent[72 P.S.§9116(a)(1.1)(i)].
For dates of death on or after Jan. 1, 1995, the tax rate imposed on the net value of transfers to or for the use of the surviving spouse is 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 21 years of age or younger at death to or for the use of a natural parent, an
adoptive parent or a step-parent of the chiltl is 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 decedent's lineal beneficiaries is 4.5 percent,except as notetl in[72 P.S.§9116(a)(1)].
. The tax rate imposetl on the net value of transfers to or for the use of the decedent's siblings is 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 decetlent,whether by blood or atloption.
, .
REV-1502 EX+ (12-12)
� pennsylvania SCHEDULE A
DEPARTMENT OFREVENUE
INHERITANCETAX RETURN REAL ESTATE
RESIDENT DECEDENT
ESTATE OF: FILE NUMBER:
Sjoberg, Monica E. 21-14-0916
All real property owned solely or as a tenant in common must be reported at fair market value. Fair market value is defined as the price at which property
would be exchanged between a willing buyer and a willing seller,neither being compelled to buy or sell,both having reasonable knowledge of the relevant facts.
Reai property that is jointly-owned with ri9ht of survivorship must be disciosed on Schedule f.
Attach a copy of the settlement sheet if the property has been sold.
ITEM Include a copy of the deed showing decedent's interest if owned as tenant in common. VALUE AT DATE
NUMBER OF DEATH
DESCRIPTION
1� 105 Charles Street,Carlisle,Cumberland County, PA(see attached settlement sheet) 178,739.76
TOTAL(Also enter on Line 1, Recapitulation.) $ 178,739.76
__- -
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uAD6 TXB c3o� day oJ � in t#.year
oJ owT.o►d oes tAow�a�d�hwidrod sixty-five , 65).�� I
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BET{YBBN JOIiN C. SJ�BER(i of 26 Jewel Lane, Oreerj Hills, Oh�r, herfi � �
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inafter called �,�`��S � � ^ ;; ; �
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�d JOHN C. SJOBERO and MONTCA EVA MARIE SJOBERG, hi8 wife of 26
Jewel Lane, Oreen Hllls, Ohio, hereinafter called I
GraMte� : ,
WITNESSET9,thaf 1n aoiwi4eration oJ '
One ($1.00) - - - - - - DoAa�y �
ix kaui Pa{d,tlu reaiyt�okereoJ Is Mroby aeJ�w�oledped,t/u said prantor do es 1�++�vm+<< i
a+u!w+ctiQlr to tJN+aid D�Ns. their heirs and asaigna, ae tenants Dy the
entiretles. '
ALL that certaln tract of land situate in the 5th Ward of Car- �
llsle, Cumberland County,Pennsylvania�bounded and,described as fol-
lows:
BEGIDININO at a point on the Eastern side of Charles Street,
whlch point is 84.24 feet Southwardly from the Southeastern corner
of Gobi� Street and Charlea Street; thence along the Eastern aide
of Charlea Street, South 15 d�grees 22 minutea 40 3econde East, 100 I
� feet to a point on the line of land of Leater D. Yarlett and wife; �
� thence by said Yarlett land, North 74 degrees 37 minutes 20 seconda 4
i East, 119.65 feet to a point; thence North 15 degrees 22 minutes 40 �
I
seconds West, 100 feet Lo a point on the line of land of Roger L. �
� Doran and wife; thence by said Doran land, South 7� degrees 37 minutea
� 20 seconds West, 119.65 feet to the place of BE(3INNINQ: Being the
i
� Southern 60 feet of Lot No. 2 and the Northern 40 feet af Lot No.
I 3, Block "a" of the plan Of lots known as Hamilton Development as �
j recorded Sn the ofPice of the Recorder of Deeds'�3E Cumberland County�
�
� in Plan Book No. 12, page 60; being sub�ect to certain building line
�
� restrictlons and to other reatrictions� etc., as aet forth in Deed
;
1 Book "C", Vol. 21, page 16, and 6eing improved with a dwelling houae.
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� BEING the same property whic was conveyed to John C. S�oberg
I B��l�i21 PACE A3J
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s;,c���I r,ue 4.:� J
by deed of William H. Hooke and wife, dated April 30, 1965, and f
recorded Sn the office aforesaid Sn Deed Book " ". Vol. _ page �
The within deed is a non-taxable tranaTer between huaband and
husband and wlfe. �
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AND fAs satd Drantori k�rabY oovcnan2 wid apra that NIaY aid eaoA oJ tAe�n wa1+o�ana�t �
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IN iVlT\'�JS It'HF:KL•'OF',aaid Drantor ha s hereunto act his ]Innd wid seal
the daU and pcar fiiat a6uue�urittcn. � i
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Couxty o/ Cumberland " � , �
On th ia,the �C� day oJ ��L��� jj' ,la 6 5 ,be/w•+n.,
a PJotary Public,
the underaipned o�iccr,yc.rsondiy¢ppeured John C. S,JobergJ , �
knaun!o me(or ealia/aetorilv proven)!o be theperaon whoae name ls � rub�cribed Lo tke . � p
�� �� ilht+Y inptrumrnt,and ac7rnowkdped fhat hc �seekted aams Jor the purpwe��he+cin
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O :' Yr'.(�;1��lz,1iF.SS IV//EREOF,!kerminto�ct my Aand and odieia!ioa1. , .
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I do hereby arti;Y��'P��e reefdewa�pa�r-3�e�o+npktr port oglu add
eJ the wttA{n�amed proRbs s 1�. ��N,(G �"',w'�' ��'�'`.rit��
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TYl'B OF TAX YBARLY AMOUNT DUE DATE
County!`L'ownship $xfl76.sd 4�fl
School $2350.27 8131
City N/A
MOR'�'GAGES
�� AMOUNT:$20,000.0� '
Df°ec� �",;;, ,,. ��-'„ �I �Z -. �-I-3 S
FROM:Monica Sjoberg alk/a Monica E�a Marie Sjoberg .
TO: Manufacturers and'Traders Tr�st Company
DATED:March 1 S,20I2
RECORDED:March 30,2012
INSTRUMENT NO.:201208976
i'Z'o be PATD IN FULT.and SATISFLED in the pubiic records. ,
JUDGMENTS:
{Nane)
MECAANIC'S AND lV[YINYCI�AI.CLAIMS:
(None}
ADDITIONAL REQUII2EMEN'�S:
]. Proof und Ds►te of Death fos•Johat C.Sjoberg nnd Monica�va Mai�ie S,joberg.
2. i'roof of grant of Letters Testamentary or Administration to 7ohn M. Sjoberg aod Kenneth I..Sjoberg.
3. Proof by Affidavit that there has been ao intervening termination of auti�ority of personaI representative.
� Proofofpayment of.inheritance taxes due the Comm�nwealth of PA.
,Proof that there is nothing due to the]7epartment of Pubfic Welfare under 62 P.S. 143 2 relating to probate lien on decedenYs
estat�.
6. Bstate�led to Nv.21-I4-916 in Cumherland County Register of Wills.
7. Proof and Date ofDeath for Stephen W.Sjaberg,son of Monica Sjoberg.
C .
;;'•��'+��� A. Settiement Statement HUD-1 OMBApprovalNo.2502-0265
�•,,���� � � FINAL
.- .
1.�FHA 2.❑RHS 3. XQ Conv.Unins. 6.File Number: 7.Loan Number: 8.Mortgage Insurance Case Number:
MM1122 6800803507
4.Q VA 5.�Conv.Ins.
C.Note:This form is furnished to give you a statement of actual settlement costs.Amounts paid ro and by the settlement agents are shown_Items marked
"(p.o.c)"were paid outside the closing;they are shown here for informational purposes and are not included in the totals.
D.Name&Address of Borrower: E.Name&Address of Seller: F.Name&Address of Lender:
Denzel E.Murtorff,Krystal J.Murtorff The Estate o(Monica Eva Marie Sjoberg Members 1sl FCU
2133 Newville Road,Cariisle,PA 17013 105 Charles Sireet,Carlisle,PA 17013 5000 Louise Dnve,Mechanicsburg,PA
17055
G.Property Location: H.Settlement Agent: I.Settlement Date:02/27/2015
105 Charles Street Members 1st Settlement Company,LLC Disbursement Date:02/27/2015
Carlisle,PA 17013 5000 Louise Drive,Mechanicsburg,PA 17055
Phone: Fax:
Place of Settlement: TitleExpress
1166 Walnut Bottom Road,Carlisle,PA 17013 Printed 02126l2015 at 10:21 am
by KL
100. Gross Amount Due from Borrower 4p0. Gross Amount Due to Seller
101. Contract sales price 180,000.00 401. Contrad sales pnce 180,000.00
102. Personal ro rt 402. Personal ro rt
103. Settlement charges to borrower(line 1400) 6,536.13 403.
104. 404.
105. 405.
Ad'ustments for items aid b seller in advance Ad'ustments for items aid b seller in advance
106. City/town taxes to 406. Cityllown taxes to
107. Countytaxes to 407. Countytaxes to
108. School Taxes 02/2712015 to 0613012015 814.74 408. School Taxes 02/27/2015 to 0613012015 814.74
109. 409.
110. a10.
111. 41 t.
112. 412.
�ZD• Gross Amount Due from Borrower 187,350.87 420. Gross Amount Due to Seiler 180,814.74
200. Amounts Paid b or in Behalf of Bortower 500. Reductions In Amount Due to 5eller
201 Deposit or eamest money 501. Excess deposit(see instructions)
202. Pnncipal amount of new loan(s) 144,000.00 502. Settlement charges lo seller(line 1400) 1,903.44
203. Existin loa s taken sub'ect to 503. Existin loa s taken sub'ect to
204. 504. Payoff oifirst mortgageloanto.
205. 505. Pa off oi second mort a e loan
206. 506.
207. Gift of Equity 30,000.00 507. Gi�oi Equity 30,000.00
208. 508.
209. 509.
Ad'ustments for items un aid b selter Ad'ustments for items un aid b seller
210. Cityltown taxes ro 510. Cityltown laxes to
211. County taxes Ot/01/2015 to 02127/2015 171.54 511. Counly taxes 01101/2015 l0 02I27/2015 171.54
212. School Taxes l0 512. School Taxes to
213. 513.
214. 514.
215. 515.
216. 516.
217. 517.
218. 518.
219. 519.
220. Total Paid b Ifor Bonower 174,171.54 520. Total Redudion Amount Due Seller 32,074.98
300. Cash at Setttement fromfto Borrower 600. Cash at Settlement tolfrom Seller
301. Gross amount due from borrower(line 120) 187,350.87 gp�, Gross amount due to seller(line 420) 180,814.74
302. Less amounis paid bylfor borrower(line 220) 174,171.54 602. Less reduclions in amount due seller(line 520) 32,074.98
�03. Cash QX From ❑ To Borrovuer 13,179.33 603. Cash ❑X To ❑ From Selier 148,7�9.76
aw��e ,� e�o. �s�e�o�o �.�oo�5 e�ma e a m���es oe�«:r��s�o s aoe�cy mav oo�o� �:��o e�oo,eo yo�.re ��� o como e e
e rrg.revievnng a rrvl.w i
I�is/ortn�unkv il disqeys a wrreMly veliE OMB wniral numper.No CAnfMentielNy is assuretl,l�is diulosurt is manEe�ory.T�Is Is�eslgneE lo pmvlUe t�e penies lo a RESPA covereE Irenseciion wil�Inlorma�lan tlunrq I�e
senlemenl process.
Previous editions are obsolete Page 1 of 4 HUD-1
_. __���_:., _ ..
700. Totai Real Estate Broker Fees Paid From Paid From
Divisionofcommission Iine700 asfollows: Bo��Owe�'S Selle�'S
�o� $000 to Funds at Funds at
702 SO.00 to Settlement Settlement
703. Commission paid at settlement
800. Rems Pa abie in Connection with Loan
801. Our origination charge (Includes Ongination Point 0.000%or$0.00) $645.00 (from GFE#1)
802. Your credit or charge(points)for the specific interest rate chosen $ (from GFE#2)
803. Your adjusted origination charges (from GFE A) 645.00
804. Appraisal fee to Members tst FCU $425.00 P.O.C.B'(from GFE#3)
805. Credit re rt to from GFE#3
806. Tax service to from GFE#3
807. Flood certification to Members 1st FCU (from GFE#3) 12.50
808. to
900. Rems Re uired b Lender to be Paid in Advance
901. Daily interest charges from from 02/2712015 to 03I01I2015 @$1528771day (from GFE#10) 30.58
902. Mort a e insurance remium months to from GFE#3
903. Homeowners insurance for 1 ears to State Farm $740.Op P.O.C.B"(from GFE#11�
904. monlhs to from GFE#11
1000.Reserves De osited with Lender
1001. Initial deposit for your escrow account (from GFE#9) 2,385.05
1002.Homeowner's insurance 3 mon�hs $ 61.671month $185.01 to Members tst FCU
t003. Mort a e insurance monihs $ /month
1004.Property taxes 13 monihs $ 89.711month $1,166.23 to Members 151 FCU
1005.County taxes monihs $ 91.54Imonth $ to Members t st FCU
1006.School Taxes 9 monihs $ 195.861month $1,762.74 to Members tst FCU
1007.Aggregate Adjustment $-728.93 to Members tst FCU
1100.Title Cha es
1101.Title services and lenders title insurance to Members tst Settlement $ (irom GFE#4) 1,295.00 22.00
Com an ,LLC
1102. Settlement or closing fee to $
1 t03.Owner's title insurance-Conestoga Title Insurance Company $ from GFE#5 180.00
1104. Lender's title insurance-Conestoga Title Insurance Company $1,120.OD
1105. Lender's title policy limit$144,000.00 Lenders Policy
1106.Owners title policy limit$180,000.00 Owner's Policy
1107. Agent's portion of the total title insurance premium $1,040.OD
to Members tst Settlement Com an ,LLC
1108. Underwnter's portion of Ihe total title insurance premium $260 00
to Conesto a Title Insurance Com an
1109. 100 No Vio11100 to Conestoga Title Insurance $50.00
Com an
1110. 300 Survey1300 to Conesloga Title Insurance $50.00
Com an
1111.900 EPL-Res18.1 to Conestoga Title Insurance $50.00
Com an
1200.Govemment Recordin and Tronsfer Cha es
1201.Govemment recording charges $ (from GFE#7) 188.00
�2�z. Deed$79.00 Mort a e$109.00 Release$ to Cumberland Count Recorder
1203. Transier taxes $ (from GFE#8) 1,800.00
1204.CitylCounty ta�Jslamps Deed$1,800.00 Mort a e$ to Cumberland Count Recorder
1205. State Taxlstamps Deed$1,800.00 Mort a e$ to Cumberland Count Recorder 1,800.00
1z� Deed$ Mort a e$ Release$ to Borou h of Cam Hill
1300.Additlonal Settlement Cha es
1301.Required services that you can shop for (from GFE#6)
1302. Fina Water Account#006372 to Borou h of Carlisle 81.44
1303. ta
1304. to
1305. to
''� - � � � 6,536.13 1,903.44
'Paid oulside of closing by(B)orrower,(S)eller,(L)ender,(I)nvestor,Bro(K)er."Credit by lender shawn on page 1."'Credit by seller shown on page 1.
Previous editions are obsolete Page 2 of 4 HUD-1
Com arison of Good Faith Estlmate GF and HUD-1 Char es Good Faith Estimate HU0.1
Cha es That Cannot Increase HUD-7 Line Number
Our origination charge # 8�� 645.00 645.00
Your credit or charge(points)for the specific interesl rate chosen # 8�Z 0.00 0.00
Your adjusted origination charges � 803 645.00 645.00
Transfertaxes # 1203 1,800.00 1,800.00
Cha es That in Total Cannot Increase More Than 10% Good Faith Estimate HUD-1
Governmenlrecording charges # �2�� 154.00 188.00
Appraisal fee # $� 425.00 425.00
Flood certification # �� 12.50 12.50
Title services and lenders title insurance # 1101 1,985.00 1,295.00
Owners titie insurance-Conestoga Title Insurance Company � 1103 180.00 180.00
#
#
#
2,756.50 2,100.50
� $ -656.00 or -23.7983%
Cha es That Can Chan e Good fakh EsHmate HU0.1
Inilial deposit for your escrow account # 1001 2,80829 2,385.05
Daily interest charges from # 901 $152877/da 229.32 30.58
Homeowners insurance # 903 600.00 740.00
#
#
#
Loan Terms
Your initiai loan amount is $144,000.00
Your loan term is 30.years
Your initial interest rffie is 3.8750%
Your initial monthty amount aved for principal,interest,and any moRgage $677.14 includes
insurance is �X Principal
QX Interest
❑Mortgage Insurance
Can your interesl rate rise? QX No. ❑Yes,it can rise to a maximum of %. The first change
will be on I I and can change again every years after I I Every
change date,your interest rate can increase or decrease by °/. Over the life of
the loan,your interest rate is guaranteed to never be lower than °/or higher
than %.
Even'rf you make payments on time,can your loan baiance rise? X�No. ❑Yes,it can nse to a maximum oi$
Even it you make payments on time,can your monthiy artrount owed for X❑No. ❑Yes,the(irst increase can be on I I and the monthly
principal,interest,and mortgage insurance rise? amount owed can rise to$
The maximum it can ever rise to is$
Dces your loan have a prepayment penaity? ❑X No. ❑Yes,your maximum prepayment penalty is$
Does your loan have a bailoon payment? ❑X No. ❑Yes,you have a balloon payment of$ due in
years on i I
Total monthly amount owed including esaow account payments ❑You do not have a monthly escrow payment for items,such as property taxes
and homeowner's insurance. You must pay these items directly yourself,
QX You have an additional monthly escrow payment ot$347.24
that resulis in a total initial monthly amount owed of$1,024.38. This includes
principal,interest,any mortgage insurance and any items checked below:
❑X Property taxes QX Homeowner's insurance
�Floodinsurance ❑
Q School Tax �
Note: If you have any questions about the Settlemeni Charges and Loan Terms listed on this form,please contact your lender.
Previous editions are obsolete Page 3 of 4 HUD-1
HUD CERTIFICATION OF BUYER AND SELLER
I have carefully reviewed the HUQ1 Settlement Statement and to the best of my knowledge and belief,it is a true and accurate statement of all receipts and
disbursements made on my account or by me in this transactiort I further certify that I have received a copy of the HUQ1 Settlement Statement.
�
/ _ � �
/_ ` /..
/�zel E. rtorff
L
l `
Krystal .M orf(
THE ESTATE OF MONICA EVA MARIE SJOBERG
`��// � /
John .Sjoberg,Admini a r nneth L.Sjoberg, inistrator
The HUD-1 Settlement Statement which I have prepared is a true and accurate account of this transaction.1 have caused or will cause the funds to be
disbursed in accordance with this statement.
�_— / w � � --
�`� ' � ///�
SETTLEM T AGENT � DATE �
WARNING:IT IS A CRIME TO KNOWINGIY MAKE FALSE STATEMENTS TO THE UNITED STATES ON THIS OR ANY SIMILAR FORM.PENALTIES UPON
CONVICTION CAN INCLUDE A FINE AND IMPRISONMENT.FOR DETAILS SEE TITLE 18:U.S.CODE SECTION 1001 AND SECTION 1010.
Previous editions are obsolete Page 4 of 4 HUD-1
��
Name ot Borrower: Name of Seller: File Number:
Prepared 02/2612015 at 10:11 am
Note:This page displays an itemization of the credits shown in section 200 of the HUD-1 Settlement Statement This page
accompanies but is not a part of the HUD-1 Settlement Statement If a discrepancy exists,the infortnation on the HU0.1 Settlement
Statement applies.
Credits
Credit
. •
Name of Borrower: Name of Seller. File Number.
Denzel E.Murtorff The Estate of Monica Eva Marie Sjoberg MM1122
Krystal J Murtorfi
Prepared 02/26/2015 at 10:11 am
Note:This page displays an itemization of the adjusted origination charges shown in section 800 of the HUD-1 Settlement Statemen
This page accompanies but is not a part of the HU0.1 Settlement Statement.If a discrepancy exists,the information on the HUD-1
Settlement Statement applies.
Your Loan Origination Charges BoRower Seller
801. Our origination charge (Includes Origination Point 0.000%or$0.00)
Origination Fee to Members 1st FCU $ 645.00
802. Your credit or charge(poinis)for the specific interest rate chosen
to $ 0.00
803. Your adjusted origination charges 645.00 0.00
. �
Name of Borrower: Name oi Seller. File Number:
Denzel E.Murtorff The Estate of Monica Eva Marie Sjoberg MMt 122
Krystai J.Murtorff
Prepared 02l2612015 at 10:11 am
Note:This page displays an itemization of the charges shown on line 1101 of the HUD-1 Settlement Statement.This page
accompanies but is not a part of the HUD-1 Settlement Statement.If a discrepancy exists,the information on the HUD-1 Settlement
Statement applies.
1100.Title Charges Total Charge Borrower Seller
��p�.Title services and lender's title insurance to Members ist Settlement Com an ,LLC
Tax Reimbursement Fee to Members 1st Settlement Com ai$ 2.00 2.00
Notary Fee to Kandi L.Lenker $ 25.00 25.00
Notary Fee to Kandi L.Lenker $ 20.00 20.00
1102.Settlement or closing fee to $ 0.00
1104.LendePs title insurance-Conestoga Title Irto Conest a TiUe Insurance Com $ 1,120.00 1,120.00
1109.100 No Vio11100 to Conest a Title Insurance Com$ 50.00 50.00
1110.300 Survey1300 to Conesto a Title Insurance Com$ 50.00 50.00
1111.900 EPL-Res18.1 to Conest a Title Insurance Com$ 50.00 50.00
Totals: 5 1,317.00 0.00 1,295.00 22.00
SellerlLender credits shovm on pa e 1 POC=Paid Outside Closin CR=Lender Credit
Previous editions are obsolete Page 1 of 1 HUD-1
REV-i5o8 EX+(08-1z)
� pennsylvania
SCHEDULE E
:� DEPARTMENTOFREVENUE CASH, BANK DEPOSITS & MISC.
INHERITANCE TAX RETURN PERSONAL PROPERTY
RESIDENT DECEDENT
ESTATE OF: FILE NUMBER:
Sjoberg, Monica E 21-14-0916
Include the proceeds of litigation and the date the proceeds were received by the estate.
All property jointly owned with right of survivorship must be disclosed on Schedule F.
ITEM VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
1. 2004 Dodge Caravan(sale price0 2,000.00
2. Cash on hand 862.00
3, Recycling scrap metal on property 125.00
4. Members 1st Checking Account 3,500.00
TOTAL(Also enter on Line 5, Recapitulation) $ 6,487.00
If more space is needed,use additional sheets of paper of the same size.
�Ev-lsio Ex+�cz-isa
� pennsylvania SCHEDULE G
DEPARTMENTOFREVENUE INTER-VIVOS TRANSFERS AND
INHER�T^NCE TAX RET�R" MISC. NON-PROBATE PROPERTY
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
Sjoberg, Monica E 21-14-0916
This schedule must be completed and filed if the answer to any of questions 1 through 4 on page three of the REV-1500 is yes.
DESCRIPTION OF PROPERTY
ITEM INCLUDE THE NAME OF TriE TRANSFEREE,THEIR RELATIONSHIP TO DKEDENT AND DATE OF DEATH %OF DECD�S EXCLUSION TAXABLE
NUMBER THE DATE OF TRANSFER. ATTACH A COPY OF THE DEED FOR REAL ESTATE. VALUE OF ASSET INTEREST (IF APPUCABLE) VALUE
i. Alliance Funding Group IRA 19,492.00 100 19,492.00
TOTAL(Also enter on Line 7, Recapitulation) $ 19,492.00
If more space is needed,use additional sheets of paper of the same size.
REV-1511 EX+ (02-75}
� pennsylvania SCHEDULE H
DEPARTMENTOFREVENUE FUNERAL EXPENSES AND
� INHERITANCETAXRETURN ADMINISTRATIVE COSTS
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
Sjoberg, Monica E 21-14-0916
DecedenYs debts must be reported on Schedule I.
ITEM
NUMBER DESCRIPTION AMOUNT
A. FUNERAL EXPENSES:
1' Ewing Brothers Funeral Home, Carlisle, PA 7,314.71
2. Funeral Luncheon 450.00
B, ADMINISTRATIVE COSTS:
1. Personal Representative Commissions:
Name(s) of Personal Representative(s)
Street Address
City _ ._....._State _.......ZIP--
Year(s)Commission Paid:
2,000.00
2. Attorney Fees:
3. Family Exemption: (If decedenYs address is not the same as ciaimant's, attach expianation.)
Claimant
Street Address
City..__ State ZIP
Relationship of Claimant to Decedent__ _...___ _
4, Probate Fees;
425.00
5. Accountant Fees:
6. Tax Return Preparer Fees: 5�0.00
�• Travel expenses for ExecutorlSuccessor Trustee back and forth from Lexington, SC 3,000.00
s. Ativertising fees: Carlilse Evening Sentinel and Cumberland County Bar Journal 286.78
s. Remiburse executor for postage 50.00
TOTAL (Also enter on Line 9, Recapitulation) $ 14,025.78
If more space is needed, use additional sheets of paper of the same size.
REV-1512 EX+ (12-12)
� pennsylvania SCHEDULE I
:� DEPARTMENT OF REVENUE DEBTS OF DECEDENT,
� INHERITANCE TAX RETURN MORTGAGE LIABILITIES & LIENS
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
Sjoberg Monica E 21-14-0916
Report debts incurred by the decedent prior to death that remained unpaid at the date of death,including unreimbursed medical expenses.
ITEM VALUE AT DATE
NUMBER DESCRIPTION OF DEATH
1� Santander Bank Home Equity Loan payoff 14,962.00
2. M&T Bank Home Equity Loan payoff 13,412.00
3. Members 1 st Visa payoff 838.00
4. Home Improvements.... 5,953.00
5. Borough of Carlisle Final Water bill 378.00
6. Phone bill 808.00
7. Electric bill
TOTAL(Also enter on Line 10, Recapitulation) $ 36,351.00
If more space is needed,insert additional sheets of the same size.
REV-1513 EX+ (01-10)
�;` pennsylvania SCHEDULE �
INHERITANCE TAX RETURN BENEFICIARIES
RESIDENT DECEDENT
ESTATE OF: PILE NUMBER:
Sjoberg, Monica E 21-14-0916
RELATIONSHIP TO DECEDENT AMOUNT OR SHARE
NUMBER NAME AND ADDRESS OF PERSON(S)RECEIVING PROPERTY Do Not List Trustee(s) OF ESTATE
I TAXABLE DISTRIBUTIONS[Include outright spousal distributions and transfers under
Sec.9116(a)(1.2).]
1. Erik R.Sjoberg 1453 Lutztown Road Boiling Springs PA 17007 son one-sixth
2. Kurt P.Sjoberg 719 Prospect Ave Shippensburg PA 17257 son one-sixth
3. Krystal J.Murtorff 2133 Newville Road Carlisle PA 16015 daughter one-sxith
4. Mark A.Sjoberg 1385 Banyan Way Weston FL 33327 son one-sixth
5. Kenneth L Sjoberg 350 Oltl Mill Road Carlisle PA 17015 son one-sixth
6. John M.Sjoberg 309 Bedford Place Court Lexington SC 29072 son one-sixth
ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18 OF REV-1500 COVER SHEET,AS APPROPRIATE.
II NON-TAXABLE DISTRIBUTIONS
A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT TAKEN:
1.
B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS:
1.
TOTAL OF PART II— ENTER TOTAL NON-TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET. $
If more space is needed,use additional sheets of paper of the same size.
LAST WILL AND TESTAMENT'
OF
MONICA SJOBERG
IDENTITY
I, Monica Sjoberg, residing in the County of Cumberland, Commonwealth of
Pennsylvania, being of sound mind and memory, and not acting under duress or undue influence
of any person whomsoever, hereby declare this to be my Last Will and Testament, and I do
hereby revoke all other and former Wills and Codicils to Wills heretofore made by me.
All reference made herein to "spouse" or to "my spouse" refers to the person to whom I
am currently married, namely, John C. Sjoberg.
My children are Stephen W. Sjoberg, John M. Sjoberg, f�rik K. Sjoberg, Kurt P. Sjoberg,
Krystal J. Bouder, Mark A. Sjoberg, and Kenneth L. Sjoberg.
PERSONAL AND HOUSEHOLD EFFECTS
It is my intent that all my personal and household effects were transferred to my Living
Trust as a result of the "ASSIGNMENT OF FURNITURE, FURNISFIINGS AND PERSONAL
FFFECTS." If there is any question regarding the ownership or disposition of these assets, it is
my desire that such assets pour into the Living Trust in accordance �vith the provisions of the
section titled "Residue of Estate."
RESIDUE OF ESTATE
I give, devise and bequeath all the rest, residue and remainder of my property of every
kind and description (including lapsed legacies and devises), wherever situated and whether
acquired before or after the execution of this Will, to the Trustee under that certain Trust
executed by me, which is known as "The Sjoberg Family Trust, dated
.��� f� , 20 a � ,John C. Sjobcrg and Monica Sjoberg, Trustors and/or
Trustees." T e Trustee shall add the property bequeathed and devised by this Item to the corpus
of the above described Trust and shall hold, administer and distribute said property in accordance
with the provisions of the said Trust, including any amendments thereto made before my death.
If for any reason the said Trust shal( not be in existence at the time of my death, or if for
any reason a court of competent jurisdiction shall declare the foregoing testamentary disposition
to the Trustee under said Trust as it exists at the time of my deatl� to be invalid, then I give all of
my estate including the residue and remainder thereof to that person who would have been the
Trustee under the Trust, as Trustee, and�to their substitutes and successors under the Trust,
described hereinabove, to be held, managed, invested, reinvested and distributed by the Trustee
upon the terms, trusts and conditions pertaining to the period beginning with the date of my
death as are constituted in the Trust as at present constituted giving effect to amendments, if any,
hereafter made and for that purpose I do hereby incorporate such Trust by reference into this my
Will.
Sjobere Last Will and Testament
�O Copyright The Estate Plan�2000 All Righis Reserved.
Page I
PRIVACY OF TRUST
No Clerk of Court, Commissioner of Accounts, or other party (except my Executor,
Personal Representative, or other Fiduciary of my Estate, and a T3eneficiary of my Estate or
Guardian or Fiduciar�of such Beneficiary), dealing with a Trustee in relation to The Sjoberg
Family Trust, dated .�t-N u r� iY , 20 0► , John C. Sjoberg and Monica Sjoberg,
Trustors and/or Trustees, will be obligated or privileged to see that the terms of the Trust have
been complied with, to inquire into the authority, necessity or expediency of any act of a Trustee,
or to inquire into any of the terms of the Trust, except when permitted by the Trustee.
EXECUTOR
I hereby nominate and appoint John C. Sjoberg, as Executor of this my Last Will and
Testament to serve without bond.
In the event the first named Executor shall predecease me, or is unable or unwilling to act
as my Executor for any reason whatsoever, then and in that event I hereby nominate and appoint
Shirley Mattson to serve without bond as Executor(Co-Executors if more than one person).
When more than one person is named with others to act as Co-Executors and one of the
named persons is unable or unwilling for any reason to serve or to continue to serve, and no
additional persons are named herein to take the place of such declining or retiring Executor, I
hereby direct that the remaining named Co-Executor(s) shall continue to serve as Co-Executors
(or if one only remains, Executor) hereof without the approval ol�any court.
Whenever the word "Executor" or any modifying or substituted pronoun therefor is used
in this my Will, such words and respective pronouns shall be held and taken to include both the
singular and the plural, the masculine, feminine and neuter gender thereof, and shall apply
equally to the Executor named herein and to any successor or substitute Executor acting
hereunder, and such successor or substitute Executor shall possess all the rights, powers and
duties, authority and responsibility conferred upon the Executor originally named herein.
EXECUTOR POWERS
By way of illustration and not of limitation and in addition to any inherent, implied or
statutory powers granted to Executors generally, my Executor is specifically authorized and
empowered with respect to any property, real or personal, at any� time held under any provision
of this my Will: to allot, allocate between principal and income, assign, borrow, buy, care for,
collect, compromise claims, contract with respect to, continue any business of mine, convey,
convert, deal with, dispose of, enter into, exchange, hold, improve, incorporate any business of
mine, invest, lease, manage, mortgage, grant and exercise options with respect to, take
possession of, pledge, receive, release, repair, sell, sue for, makc distributions in cash or in kind
or partly in each without regard to the income tax basis of such asset and in general, exercise all
of the powers in the management of my Estate which any individual could exercise in the
management of similar property owned in its own right upon such terms and conditions as to my
Sjoberg Last Will and Testament
�O Copyright The Estate Pian�2000 All Righis Reserved.
Page 2
I specifically disinherit any person or persons claiming an interest in my estate through
this, my Last Will and Testament, or through the previously named Trust, as my child, the issue
of my body, who are born more than nine and one-half months after my death.
QUALIFIED TERMINABLE INTEREST ELECTION TRUST B
I have established a Revocable Living Trust as part of my estate plan. I give my
Executor of this, my Last Will and Testament, the authority to elect to treat all or a fractional
share of the assets in Trust B as qualified terminable interest property. In addition, my Executor
shall have the authority to make an election under any applicable state law to treat all or a
fractional share of Trust B property (including a different fractional share than selected in any
federal law election) as qualifying for any state law marital deduction.
SIMULTANEOUS DEATH
If my spouse should not survive me, but I die within sixty (60) days of my spouse's
demise, then it shall be conclusively presumed for the purposes of this my Will that I
predeceased my spouse.
If any other beneficiary should not survive me for sixty (60) days, then it shall be
conclusively presumed for the purposes of this my Will that said beneficiary predeceased me.
NO CONTRACTUAL AGREEMENT NOT TO REVOKE
Although at approximately the same time my husband and I are executing wills and a
living trust containing provisions which are substantially the same, this shall not be interpreted as
an agreement by either of us not to amend or revoke our wills or living trust without the consent
of the other.
IN WITNESS WHEREOF, I have hereunto set my hand and declared this to be my Last
Will and Testament this rv-� day of �4.{su,�,� , 20 41 .
� ,
�
Monica Sjo er
Sjoberg Last Will and Testament
OO Copyright The Estate Plan�2000 All Rights Reserved.
Pagc 4
SIGNED, SEALED, PUBLISHED and DECLARED by the above testator as and for her
last will, in the presence of us, who thereupon at her request, in her presence and in the presence
of each other, ha�e hereunto subscribed our names as witnesses;
- . . _ �
� % �
� __..__._..� � �� � - residing at ,_-�_`;�D _��fl� h..�F'G�
_. �
�' itness ., , ,
, „
��� ���.�. --��, Pennsylvania
� I `
- residing at C��� �
W' ness '
c
�_��_, Pennsylvania
Sjoberg last Will and'festament
�O Copyright The Estate Plan�2000 All Rights Rcserved.
Page 5
SELF-PROOF OF WILL
COMMONWEALTH OF PENNSYLVANIA )
�) ss.
COUNTY OF CUMBERLAND )
, ,9-� � , the
We Monica Sjoberg � a 1���c � and I<�r`� � �-�. •� ,►�t��,-:�_
Testatrix and the witnesses, respectively, whose names are signed to the foregoing instrument,
being duly sworn, do hereby declare to the undersigned authority that the Testatrix signed and
executed the instrument as her Last Will and Testament and that she signed willingly, and that
she executed it as her free and voluntary act for the purposes therein expressed, and that each of
the witnesses, in the presence and hearing of the Testatrix, signed the will as witness and that to
the best of each witness's knowledge the Testatrix was at that time eighteen years of age or older,
of sound mind and under no constraint or undue influence.
. r
Monica Sjober
,� ���� '
_ �
,W�tness
,
�_�
� �
W tness
SUBSCRIBED, SWORN TO AND ACKNOWLEDGED before me, by Monica Sjoberg, the
Testatrix, and subscribed and sworn to before me by J aa-��. '�,��E and
,
k 2 rz°�«�-,a �}�����z� , witnesses, this ��+ day of ��r,�,4,¢.�, 20�.
J' ,
NO�I,ARY SEAL
NOTARY UBLIC
My Commission Expires:
hotarial Seal �
Terry Smith�; No?ary Public
Lower Paxton Twp., pauphin �ounty
My C��mmission Exp+res .�uiy 26, 2QQ4
Sjoberg I.ast Will and Testament
�O Copyright The Estate Plan�2000 All Rights Reserved.
Page 6
CERTIFICATE OF ACKNOWLEDGM ENT
COMMONWEALTH OF PENNSYLVANIA )
) ss.
COUNTY OF CUMBERLAND )
On this zn+ day of �rn.c _, 20�_, before me, ��-+�� �►^1 ��tq ,
(here insert name of notary) a Notary Public, personally appeared Monica Sjoberg, personally
known to me (or proved to me on the basis of satisfactory evidence) to be the person whose
name is subscribed to the within instrument and acknowledged to me that she executed the same
in her authorized capacity, and that by her signature on the instrument the person, or the entity
upon behalf of which the person acted, executed the instrument.
WITNESS my hand and official seal.
Signature: (Seal)
Nr�tarial Seal ._�.��'.__.�
Terry Smith, Norary Puhlic
Lower Paxton Twp., p�up;,;,� �:,��;,nA
My Commrssian Erpires July i'6, ���,�4
--�— ..v,�... ._,i
Sjoberg Last Wiil and Testament
OO Copyright The Estate Plan�2000 All Rights Reserved.
Page 7
THE SJOBERG FAMILY TRUST
(Married A-B Living Trust)
CREATION OF THE TRUST
This revocable Living Trust is formed to hold title to real and personal property for the
benefit of the creators of this Trust and to provide for the orderly use and/or transfer of such
assets during the existence of this Trust and upon the demise of the creators of this Trust.
Name of Trust
This Trust shall be known as:
"The Sjoberg Family Trust, dated or�-ru �e�-� _ !-,� , 20 v� ,John C. Sjoberg
-�
and Monica Sjoberg, Trustors and/or Trustees."
Notice of Arbitration
The Trustors and Trustees of this Trust have agreed that alternative dispute resolution
should be utilized to preserve the total Trust Estate from the expenses of legal fees and litigation.
For that reason, THIS TRUST IS SUBJECT TO ARBITRATION. The Trustee shall submit all
disputes to arbitration as provided in this Trust and arbitration a���ards shall be fully enforceable
under the terms of state law and common law to the extent they are not inconsistent.
Parties to the Trust
This Trust is entered into by and between John C. Sjoberg and Monica Sjoberg of the
County of Cumberland, Commonwealth of Pennsylvania, hereinafter called "Settlors" or
"Trustors" or separately, "Husband" or "Wife," and John C. Sjoberg atid Monica Sjoberg of the
County of Cumberland, Commonwealth of Pennsylvania, hereinafter called "Trustees" or
"Trustee," and "Beneficiaries" or "Beneficiary" while living.
Heirs at Law
The children who are named as Primary Beneficiaries are as follows: John C. Sjoberg's
and Monica Sjoberg's children are Stephen W. Sjoberg, John M. Sjoberg, Erik R. Sjoberg, Kurt
P. �joberg, Krystal J. Bouder, Mark A. Sjoberg, and Kenneth L. Sjoberg.
Sjoberg Revocable Living Trust
�O Copyright The Estate Plan�2000 All Rights Reserved.
Page 1
Trustee Authority to Act Independentiv
The above named Trustors who are Trustees shall serve jointly and severally and either
shall have full authority for the Trust without the consent of the other and to act independently in
performing transactions on behalf of the Trust, except as to transactions involving real property
owned by the Trustors which shall require the joint consent and signatures on all sale and
transfer documents of both the Trustors while they are both living and competent.
Notwithstanding the foregoing, property held in any Trust created herein as the separate property
of either Trustor shall be solely administered under the authority of the Trustor whose property it
is, so long as he or she is living and competent. This authority shall extend to all powers granted
to the Trustees under "Trustee Powers" hereof and shall include the right to contract for and on
behalf of the Trust and to execute, negotiate, and compromise such instruments as may be
necessary to carry out the purposes and intents of this Trust.
Tax Treatment of Revocable "Grantor Trust"
Pursuant to Trustor Powers of this Trust, the Trustors have the right to amend this Trust
in whole or in part and, therefore, while the Trustors are alive, for inc�me tax purposes, the Trust
shall be treated as a revocable "Grantor Trust" pursuant to Internal Revenue Code Section 676.
All items of income and expense related to the assets of the Trust or its operation shall be
reported by the Trustors, as if owned by them, on the Trustors' Federal Income Tax Return, Form
1040 and state income tax return, if appropriate.
Use of IRS Taxpayer Tax Identification Number
As long as both Trustors are living, this Trust is revocable and 'Trustees are directed not
to file income tax returns for this Trust. Instead, the Trustors shall report income to the IRS
using the Trustors' Social Security Number.
Upon the death of a Trustor, the Surviving Trustor's Trust A remains revocable and
income shall be reported using the Surviving Trustor's social security number
'�Ki -a.y - L��3� (leave blank until death of first Trustor). �ny trusts established for a
' decedent are irrevocable and the assets in these trusts should be identified using the IRS
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�. .i.. �i..n. . �
Taxpayer ldentification Number. The Trustees are directed to obtain a Taxpayer ldentification
Number for each trust established for the deceased Trustor. The IRS "I'axpayer ldentification
Number for decedent's Trust B will be used when filing Form 1041 trust
tax returns. (Enter IRS Taxpayer Tax Identification Number when received.)
Upon the death of both Trustors, the entire Trust is irrevocable by its terms and the
Trustees are directed to obtain and report income to the IRS by using the IRS Taxpayer
Identification Number . (Enter IRS Taxpayer Tax Identification
Number when received.)
When part, or all, of the Trust becomes irrevocable, the Trustees are directed to file a
Form 1041 trust tax return or appropriate alternative form, as specified by IRS regulations, and
state income tax return as appropriate, annually for income and expenses relating to assets
retained in the irrevocable part of the Trust. All other income and expenses will be reported on
the Trustors' Federal Income Tax Return, Form 1040 tax return, and state income tax return, as
appropriate.
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. __
TRUST PROPERTY
The Trustors intend this Trust to be the recipient of all their assets. The Trustors intend
this Trust to be the named beneficiary of all interests of which either or both Trustors are, or may
become, Beneficiaries.
Property Transferred to the Trust
Property held by the Trustees of this Trust, which is held in trust far the benefit of the
beneficiaries subject to the provisions of this Trust Agreement, is and shall be property owned by
the Trust.
The Trustors have paid over, assigned, granted, conveyed, transferred and delivered
property to this Trust, and by this Trust Agreement do hereby pay over, assign, grant, convey,
transfer and deliver unto the Trust their property and may cause the Trust to be designated as
beneficiary of life insurance policies . All such property (hereinafter referred to as the "Trust
Estate"), shall be held, administered and distributed by the Trustees as hereinafter set forth.
All property transferred to this Trust shall retain its character,joint, community, separate,
or otherwise, subject to the terms of this Trust Agreement.
Joint Property, Joint Tenancy Property and Tenancy by the Entireties Property
Joint property, Joint Tenancy property and Tenancy by the Entireties property transferred
to the Trust by the Trustors shall be their joint property, and treated in accordance with the laws
of the state in which they reside or the situs of the property, whichever controls. This property as
invested and reinvested, together with the rent, issues and profits therefrom (hereinafter referred
to as the "Joint Estate" or the "joint property") shall retain its character as their joint property
during the joint lifetime of the Trustors, in spite of any change in the situs of the Trust, subject,
however, to the provisions of this Trust Agreement.
Residence As Homestead - State of Florida
The Trustors reserve the right to reside upon any real property placed in this Trust as their
permanent residence during their life, it being the intent of this provision to retain for the
Trustors the requisite beneficial interests and possessory rights in and to such real property to
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comply with Section 196.041 of the Florida Statutes such that said beneficial interests and
possessory rights constitute in all respects, "equitable title to real estate" as that term is used in
Section 6, Article VII of the Constitution of the State of Florida. Notwithstanding anything
contained in this Trust to the contrary, the Trustors' interest in any real property in which they
will reside pursuant to the provisions of this Trust shall be deemed ta be an interest in real
property and not personalty and shall be deemed the homestead ot the Trustars.
Residence As Homestead - State of Texas
The Trustors retain the right to use and occupy for life, rent fi•ee, and without charge
(except such charges as are allowed by Section 11.13(j) of the Texas "Cax Code), their residence
homestead whether or not the residence homestead is transferred or placed in this Trust Estate, to
secure and preserve for the Trustors the requisite rights, beneficial interests and possessory rights
in and to such residence homestead to qualify for all homestead exemptions and protection from
forced sale under the Texas Property Code, the Texas Tax Code, and Article 16, Sections 50 and
51 of the Constitution of the State of Texas. Any real property translerred to this Trust that is the
residence homestead of the Trustors shall retain that status as the Trustors' homestead unless and
until the Trustors designate other real property as homestead pursuant to Chapter 41 of the Texas
Property Code. It is the Trustors' intent that this Trust be a "Qualifying Trust" as that term is
defined by Section 11.13(j) of the Texas Tax Code and any applicable provisions of this Trust
shall be construed and applied to meet that end. The Trustors agree to remain jointly and
severally liable for taxes properly imposed on the interest of the Trust in their residence
homestead.
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� i �i n �
SUCCESSOR TRUSTEE
Upon the death, resignation, disappearance or incompetence of a Trustee, the next acting
Trustee will immediately assume the duties of Trustee and manage the Trust according to its
terms.
Survivin�Trustee
In the event of the death, resignation, disappearance, or incompetency of an original
Trustee, or if for any reason any ceases, or is unable, to serve as Trustee hereunder, the Trustors
nominate and appoint the remaining original Trustee to continue to serve as Trustee hereunder
without the approval of any court.
So long as the Surviving Trustor has not ceased to serve as Trustee, the Surviving Trustor
shall continue to serve as Trustee over all assets held, managed and distributed according to the
terms of this Trust Agreement with respect to Trust A.
First Successor Trustee
In the event of the death, resignation, disappearance, or incompetency of the remaining or
surviving original Trustee who is a Trustor, or if for any reason such �erson ceases, or is unable,
to serve as Trustee hereunder, the Trustors nominate and appoint John "Donald" Mackin to serve
as Successor Trustee hereunder without court approval.
Second Successor Trustee
In the event of the death, resignation, disappearance, ar incompetency of all the above
named Successor Trustee(s), or if for any reason such named Successor Trustee(s) cease(s), or is
unable, to serve as Trustee hereunder, the Trustors nominate and appoint Shirley Mattson to
serve as Successor Trustee hereunder without court approval.
No Bond Requirement
No Trustee shall be required to post bond or any other security for the faithful
performance of any duty or obligation of such office.
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�. i i n. . �
Multiple Successor Trustees Must Act Together
When there is more than one Successor Trustee serving, the multiple trustees must
unanimously agree in order to act. If the Trustors are serving as 'Trustee this provision does not
apply.
Resolution of Conflict
Any controversy between the Trustees and any controversy between the Trustee and any
other parties to this Trust, including Beneficiaries, involving the construction or application of
any of the terms, provisions, or conditions of this Trust shall, on the written request of any
disagreeing party served on the other or others, be submitted to arbitration. The parties to such
arbitration shall each appoint one person to hear and determine the dispute and, if they are unable
to agree, then the persons so chosen shall select another impartial arbitrator whose decision shall
be final and conclusive upon all parties. The cost of arbitration shall be borne by the losing party
or parties, in such proportion as decided in arbitration proceedings. Such arbitration shall
comply with the commercial Arbitration Rules of the American Arbitration Association, 140
West 51 st Street,New York, New York, 10020.
No-Contest Clause
If the Trustors seemingly failed to provide for any of their heirs, the Trustors did so
intentionally with full knowledge of that heir's needs, wants and desires.
If any beneficiary under this Trust, or any legal heir of a Trustor or any person claiming
under any of them, singly or in conjunction with any other person or persons, contests in any
court the validity of this Trust or any of its provisions or of the deceased Trustor's or Trustor's
spouse's Will or any codicil thereto or seeks to obtain an adjudication in any proceeding in any
court that this Trust or any of its provisions or that such Will or any codicil thereto or any of its
provisions are void, or seeks otherwise to void, nullify, impair or set aside this Trust or any
amendments hereto or any of its provisions, such Will or any codicil thereto or any of its
provisions, or conspires with or voluntarily assists anyone attempting to do any of those things,
then the Trustors and each of them specifically disinherit such contesting person and all interests
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given to such contesting person under this Trust and/or under such Will shall be forfeited and
shall be determined as it would have been determined if the person had predeceased the
execution of this Trust and such Will without surviving issue (as to an individual) or were not in
existence at the time of such execution(as to an organization).
The provisions of this section shall not apply to any disclaimer by any person of any
benefit under this Trust or under any Will.
Litigation
Trustees are hereby authorized to defend, at the expense of the Trust Estate, any contest
or other attack of any nature on the Trust or any of its provisions.
Dischar�e or Resi�nation of Trustee
The Surviving Trustor shall have the right following the I�ecedent Trustor's death to
discharge the Trustee of any Trust hereunder, which is revocable, including any Successor
Trustee, and to appoint a Trustee in his or her place. Discharge of a"(,rustee shall be by delivery
to such Trustee thirty (30) days' written notice of discharge.
The Trustee of any Trust hereunder, including any Successor Trustee, may resign by
delivery to all the income Beneficiaries of such Trust upon thirty (30) days' written notice of
resignation. If no Successor Trustee is named by the Trust, such income Beneficiaries who are
adults shall have the right to appoint a Trustee; provided that if no such income Beneficiaries are
adults, then such appointment shall be made by the parent or legal guardian of such income
Beneficiaries; provided, further, that in the event of a dispute among such income Beneficiaries,
their parents or guardians, the majority shall prevail.
A discharged or resigned Trustee shall serve as Trustee until a successor shall accept
office, and shall execute all instruments and do all acts necessary to vest title of the Trust Estate
in the Successor Trustee without court accounting. However, any discharged Trustee shall have
authority to apply to a court of competent jurisdiction to ensure that a Successor Trustee is
appointed.
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� i u n �
In the event the Surviving Trustor serves as Trustee of decedent's Trust B, the Surviving
Trustor shall have no authority to change the Beneficiary designation on any insurance policies
or other property whatsoever held in the Decedent's Trust.
Trustee Compensation
No Trustor shall receive compensation for services as Trustee.
Any Successor Trustee shall be entitled to reasonable compensation for their services,
which compensation shall be commensurate with comparable charges for similar services made
from time to time by corporate Trustees in the geographic area in whicli the Trust has its
principal situs for administration. The Trustee shall also be entitled to reimbursement for
expenses necessarily incurred in the administration of the Trust Estate. No Trustee shall be
required to accept compensation for their services. No duty to pay cotnpensation or
reimbursement to any Trustee shall arise unless and until that Trustee has submitted a request or
billing for compensation or reimbursement.
Competency Clause
The Trustors hereby provide that two (2) designated licensed physicians shall be
authorized and empowered to determine the competency of any Trustor or Trustee of this Trust
Agreement. One of the physicians to determine competency shall be the attending physician of
the Trustor or Trustee whose competency is to be determined. The second physician shall be
appointed by said attending physician.
The appointed physicians shall confirm in writing the incompetency or competency of the
appointing Trustor or Trustee, and their joint decision thereon shall be binding upon the Trustors,
Trustees and Beneficiaries of this Trust.
If a Trustor or Trustee has no attending physician at the time w11en a determination of
their competency is desired, the Trustors and Trustees hereby direct that the Attorney-in-Fact,
appointed under the Durable Power of Attorney for Health Care or similar instrument, of the
Trustor or Trustee whose competency to serve as Trustee is to be determined, will name and
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engage an attending physician on their behalf. Such physician shall then appoint the second
physician and they shall determine competency in accordance with these provisions.
Confirmation of removal or reappointment of any Trustee removed for incompetency by
reason of the determination of the appointed physicians or whose recovery and competency to
serve as Trustee hereunder has been re-certified by the appointed physicians, may be confirmed
by application to a court of competent jurisdiction of the then situs of the Trust.
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TRUSTOR POWERS
Trustors Retain Absolute Right as Trustee
The Surviving Trustor shall be the Trustee, unless and until, tlie Trustee resigns in
writing, or is determined incompetent as provided in this Trust Agreement. The Surviving
Trustor continues to retain all absolute rights to discharge or replace any Successor Trustee of
any portion or share of the Trust which is revocable by the Surviving 'I"rustor, as long as the
Trustor is competent.
Description of Powers
The Trustors may, during the joint lives of the Trustors, by signed instruments delivered
to the Trustee: change the beneficiaries, their respective shares and the plan of distribution;
amend this Trust in any other respect; or, revoke this Trust in its entirety or any provision
therein, except as to any share or Trust created herein which has becorne irrevocable by the terms
hereof or by operation of law.
Both Trustors acting as Trustees may, during the joint lives of the Trustors: Withdraw
the commonly owned and/or community estate from this Trust in any amount and at any time
upon giving reasonable notice in writing to the Trustee and other 'I'rustor,provided, however,
that all or any part of the commonly owned and/or community estate withdrawn by the Trustars
shall be delivered to the Trustors as commonly owned and/or community property as
appropriate; add commonly owned and/or community property to the Trust; change the
beneficiaries, their respective shares and the plan of distribution; amend this Trust in any other
respect; or revoke this Trust in its entirety or any provision therein; provided, however, the duties
or responsibilities of the Trustee shall not be enlarged without the Trustee's consent nor without
satisfactory adjustment of the Trustee's compensation. Both Trustors are authorized and
empowered with respect to any property, real or personal, to: assign, borrow, buy, care for,
collect, compromise claims, contract with respect to, continue any business of the Trustors,
convey, convert, deal with, dispose of, enter into, exchange, hold, improve, incorporate any
business of the Trustors, invest, lease, manage, mortgage, hypothecate, encumber, grant and
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,
exercise options with respect to, take possession of, pledge, receive, release, repair, sell, sue for,
guarantee the obligations of the Trust, the Trustors personally, or any other person or entity,
make distributions in cash or in kind or partly in each without regard to the income tax basis of
such asset, or do any other related acts all far and in behalf of the Trust or for the Trustors' own
accounts or to secure the Trustors' own debts or obligations.
In the event that either Trustor is living and competent, but is for any reason not serving
as Trustee of this Trust, he or she may exercise each and every right and power retained and
granted by this Section, "TRUSTOR POWERS" by signed instnitnent or instruments delivered
to the Trustee.
Gifts Treated as Revocation
The Trustors intend that all transfers (other than sales or exchanges made for full and
adequate consideration, or distributions far the direct benefit of the Trustor made from the assets
of the Trust) shall be a revocation by the Trustars as to Trust administration over the transferred
assets and shall constitute an initial distribution to the Trustors and subsequent transfer by the
Trustors to the donee. This provision shall apply whether such transfer is made by the Trustors or
by a Trustee at the written direction of both the Trustors.
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TRUSTEE POWERS
The Trustee shall hold, administer and distribute the Trust Estate as follows:
Discretionary Powers of Trustee
In exercising discretion hereunder, the Trustee is to consider tlle needs of the Surviving
Trustor, during his or her lifetime, as the primary purpose of the 7�rust, even if the satisfaction of
such needs requires invasion of the entire Trust Estate.
After the death of the Surviving Trustor, the needs of the Beneficiaries shall be
paramount to the conservation of the Trust Estate for the benefit of those who will be entitled to
the Trust Estate at its termination. The Trustee shall, in exercising the discretion given herein for
the benefit of the Beneficiaries or their issue, do so in such a manner as will encourage thrift,
industry, and self-reliance to the maximum extent practicable by the respective Beneficiaries,
and discourage extravagance or indolence on the part of any such Beneficiary.
Trust As The Beneficiary Of A Qualified Plan Or Account
� In addition to all other distributions required or permitted by this Trust Declaration, if the
Trust is the beneficiary of a plan or account qualified under Section 401 of the Internal Revenue
Code, the Trust is to make at least the minimum distributions to the Trust Beneficiary in the
amount and manner required by Section 401(a)(9) of the Code and any other applicable
provision of the Code.
Commonlv Owned Property
During the lives of the Trustors, the Trustee shall have no more extensive power over any
commonly owned and/or community property transferred to the 'I'rust than either Trustor would
have under the property laws of this state, had this Trust not been created, and this instrument
shall be so interpreted to achieve this intention.
The Trustee shall hold, manage, invest and reinvest the commonly owned and/or
community estate (if any requires such management and investment) and shall collect the
income, if any, therefrom and shall dispose of the net income and principal during the joint lives
of the Trustors as follows:
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The Trustee shall pay to, or apply for the benefit of the Trustors,jointly, all the net
income.
The Trustee may pay to, or apply for the benefit of the Trustors, individually and/or
jointly, such sums from the principal as in their sole discretion shall be necessary or advisable
from time to time for the medical care, welfare and maintenance of the Trustors, taking into
consideration to the extent the Trustee deems advisable any other income or resources of the
Trustors known to the Trustee.
Either Trustor may, at any time during the joint lives of the Tnistors, and from time to
time, withdraw all or any part of the principal of the commonly owned and/or community estate,
free of trust, by delivering an instrument in writing, duly signed by both Trustors, to the Trustees
and to the Trustors, describing the property or portion thereof desired to be withdrawn (although
such a writing may be dispensed with where both Trustors are themselves the Trustees). Upon
receipt of such instrument, the Trustees shall thereupon convey and deliver to the Trustors, as
commonly owned and/or community property, free of trust, the property described in such
instrument.
Separate Proper _ty
The Trustee shall hold, manage, invest and reinvest the separate estate of each Trustor (if
any requires such management and investment) and shall collect the income, if any, therefrom
and shall dispose of the net income and principal during the joint lives of the Trustors as follows:
The Trustee shall pay to, or apply for the benefit of the Trustor who contributed such
separate estate, all of the net income of such Trustor's separate estate.
The Trustee may pay to, or apply for the benefit of the Trustor who contributed such
separate estate, such sums from the principal thereof as in the Trustee's sole discretion shall be
necessary or advisable from time to time for the medical care, welfarc and maintenance of such
Trustor, taking into consideration to the extent the Trustee deems advisable, any other income
and resources of such Trustor known to the Trustee.
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The Trustor who contributed such separate estate may at any time, during the joint lives
of the Trustors and from time to time, withdraw all or any part of the principal of such separate
estate, free of trust, by delivering an instrument in writing duly signed by him or her to the
Trustee, describing the property or portion thereof desired to be withdrawn. Upon receipt of
such instrument, the Trustee shall thereupon convey and deliver to such Trustor, as his or her
separate property, free of trust, the property described in such instrument.
Incompetency
In the event that a Trustor is adjudicated to be incompetent or in the event that a Trustor
is not adjudicated incompetent, but by reason of illness or mental or physical disability is, in the
opinion of the Trustee, unable to properly handle his or her own affairs, then and in that event,
the Trustee may during the joint lives of the Trustors, in addition to the payments of income and
principal for the benefit of such Trustor, pay to or apply for the benefit of the affected Trustor
such sums from the net income and from the principal of such Trustor's separate estate as in the
Trustee's sole discretion shall be necessary or advisable from time to time for the health,
education, maintenance or support of such affected Trustor, taking into consideration the extent
the Trustee deems advisable any other income or resources of the affected Trustor known to the
Trustee.
Specific Trustee Powers
By way of illustration and not of limitation and in addition to any inherent, implied or
statutory powers granted to trustees generally, the Trustee is specifically authorized and
empowered with respect to any property, real or personal, at any time held under any provision
of this Trust: to allot, allocate between principal and income, assign, bonow, buy, care for,
collect, compromise claims, contract with respect to, continue any business of the Trustor,
convey, convert, deal with, dispose of, enter into, exchange, hold, improve, incorporate any
business of the Trustor, invest, lease, manage, mortgage, hypothecate (by Deed of Trust or other
appropriate instrument), encumber, grant and exercise options with respect to, take possession of,
pledge, receive, release, repair, sell, sue for, make distributions in cash or in kind or partly in
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each without regard to the income tax basis of such asset and in general, exercise all of the
powers in the management of the Trust Estate which any individual could exercise in the
management of similar property owned in his/her own right, upon such terms and conditions as
to the Trustee may seem best, and execute and deliver any and all instruments and do all acts
which the Trustee may deem proper or necessary to carry out the purposes of this Trust, without
being limited in any way by the specific grants of power made, and without the necessity of a
court order.
The Trustee is authorized to pledge the assets of the Trust to secure the indebtedness of
the Trustors.
Securities Authorization
The Trustee is empowered to buy, sell, trade and deal in stocks, bonds, mutual funds and
securities of all nature (including "short" sales) and commodities of e��ery nature, including but
not limited to United States of America or foreign government bcrnds and securities, and
contracts for future delivery of commodities of every nature on margin or otherwise; whether
those contracts be in the nature of"puts" or "calls" as such terms are normally understood in the
securities industry; and for such purpose to maintain and operate margin and commodities
accounts with brokers; and in connection therewith, to borrow money and to pledge any and all
stocks, bonds, securities, mutual funds, commodities and contracts for the future delivery
thereof, held or purchased by the Trustee, with such brokers for loans and advances made to the
Trustee.
The Trustee is empowered to participate in voting trusts, pooling agreements,
fareclosures, reorganizations, consolidations, mergers and liquidations, and in connection
therewith to deposit securities with and transfer title to any protective or other committee under
such terms as the Trustee may deem advisable.
The Trustee is empowered to engage in listed option transactions (including initiating and
closing transactions) of the following nature: Covered Writing, Llncovered Writing, Buying,
Spreading and Uncovered Call Writing.
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1'llllI 'III 11141.11 1
The Trustee is expressly authorized in the Trustee's sole discretion to exercise any option
to purchase stock under any stock option purchase plan in which any decedent Beneficiary is a
participant.
The Trustee shall have the power, unless limited by law, in the Trustee's absolute
discretion to hire, employ and retain third parties and managers o�Tnzst assets and to grant to
such managers authority to manage, buy, and sell Trust assets at such managers' discretion
provided that in selecting any such manager the Trustees shall exercise the care which persons of
prudence, discretion and intelligence employ on their own account and further provided that any
such grant of powers to any such manager shall be in writing.
The Trustee is authorized to employ attorneys, accountants, investment advisors,
investment managers, specialists and such other agents as the Trustee shall deem necessary or
desirable. The Trustee shall have the autharity to appoint an investment manager or managers to
manage all or any part of the assets of the Trust, and to delegate to said manager investment
discretion, within the limits prescribed by law, if any. Such appointment shall include the power
to acquire and dispose of such assets. The Trust shall be solely liable for the compensation of
such attorneys, accountants, investment advisors, investment managers, specialists and other
agents and any other related costs or expenses.
If the Trustee elects to appoint an investment manager, the Trustee shall enter into an
agreement with each investment manager so appointed, specifying the duties and compensation
of such investment manager and other terms and conditions under which such investment
manager shall be retained. The Trustee shall not be liable for any act or omission of any
investment manager, and shall not be liable for following the advice of'any investment manager,
with respect to any duties delegated to the investment manager.
The Trustee shall have the power to determine the portion of the Trust assets to be
invested pursuant to the direction of a designated investment manager and to set investment
objectives and guidelines for the investment manager.
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The investment manager shall have the same power to invest and reinvest the assets of
the Trust under his/her management that he/she would have if he/she were him/herself the
Trustee of the Trust (subject to the guidelines established by the Trustee).
Sub-Chapter S Authorization
It is the Trustors' intent that all Trusts and shares created liereby each qualify as a
Qualified Subchapter S Trust ("QSST") for federal tax purposes (if the appropriate election is
made) and in any event to conform to the requirements of the provisions of the Internal Revenue
Code from time to time existing with respect to the federal income tax treatment of S
Corporations and their shareholders with respect to any S Corpor�tion Stock or rights therein.
The Trustors intend that the provisions of this Trust, including any power, duty or discretionary
authority, be construed to conform to that intent. To the extent tllat any such provision cannot be
so construed with respect to any S Corporation Stock or rights therein, it shall be deemed void as
to such Stock or right. In no event shall the Trustee take any action or have any power that will
impair the power of such trusts or shares to hold S Corporation stock, and all provisions
regarding such trusts shall be interpreted to conform to that objective with respect to any S
Corporation Stock or rights therein.
Precious Metals and Limited Partnerships
The Trustee is empowered to purchase and sell, directly or indirectly, precious metals,
limited partnerships of any type, investment quality gems, rare coins and stamps, and objects of
art.
Stock of Professional Corporation
Any professional corporation stock transferred to this Tnist by a duly licensed Trustor
shall be held, managed and administered by the licensed Trustor as the Stock Trustee for the use
and benefit of said licensed Trustor. The Stock Trustee shall have all the powers described in the
provision entitled "TRUSTEE POWERS" with regard to such stock. Subject to the remaining
paragraphs of this Article, if the professional corporation stock is transferred from the Trust
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during the lifetime of the licensed Trustor, it shall be transfened only to the licensed Trustor or
to a bona fide purchaser for adequate consideration.
The licensed Trustor shall have legal and equitable title to such shares, subject only to
any commonly owned or community property interest which the non-licensed Trustor may have.
Nothing in this Article shall be deemed to limit or otherwise affect said commonly owned or
community property interest in the proceeds which may be received irom the sale of such stock
after the death of the licensed Trustor.
At such time as the professional corporation is no longer engaged in the practice of its
licensed profession ar if it becomes unable to do so, the stock shall be held by the Trustee(s)
named in this Agreement, subject to all the provisions of this Trust Agreement exclusive of this
Provision, "Stock of Professional Corporation."
Trust Investments
The Trustee shall invest the Trust Estate so that it will produce for the Surviving Trustor,
during his or her lifetime, an income or use which is consistent with the value of the Trust Estate
and with its preservation.
Payment to Minor and/or Disabled Individual
In case the income or principal payment under any Trust created hereunder or any share
thereof shall become payable to a person under the age of twenty-one (21), or to a person under
legal disability, or to a person not adjudicated incompetent, but who, by reason of illness or
mental or physical disability, is, in the opinion of the Trustee unable properly to administer such
amounts, then such amounts shall be paid out by the Trustee in such of the following ways as the
Trustee deems best: directly to such Beneficiary; to the legally appointed Guardian of such
Beneficiary; to some relative or friend for the care, support and education of such Beneficiary; to
an UTMA or UGMA account maintained for the benefit of the Benef iciary; or by the Trustee
using such amounts directly for such Beneficiary's care, support and education.
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Reimbursement of Guardian's Expenses
The Trustors do not desire that the Guardian of any minor Beneficiary should incur
personal expense for the support of such Beneficiary. The Trustee is authorized to distribute
funds from such Beneficiary's share for the purpose of reimbursing such Guardian for reasonable
expenses incurred in accommodating such Beneficiary.
Occupancv of Residence
The Trustee may permit any Trustor Beneficiary to occupy rent free any residence
constituting a part of the assets of a Trust for such Beneficiary and: to pay the real estate taxes
thereon; expenses of maintaining said residence in suitable repair and condition; and to pay
hazard insurance premiums on said residence; provided, however, the Trustee shall not exercise
this power in any way which would deprive either Trustor under this Trust of the beneficial
enjoyment of the Trust and either Trustor shall have the right to limit, restrict or terminate the
Trustee's exercises of this power if it interferes with such beneficial enjoyment.
Either Trustor shall further have the right to sell any residence constituting a part of the
Trust Estate or Trust B and buy another of the same or lesser value, or exchange any residence
constituting part of the said Trust Estate for another; any excess ��alue not used to acquire the
new residence becoming part of the said Trust Estate.
Discretionarv Dissolution of Trust
If at any time any Trust created in this Trust Agreement has a fair market value, as
determined by the Trustee, of fifteen thousand ($15,000) dollars or less, the Trustee, in the
Trustee's absolute discretion if the Trustee determines that it is uneconomical to continue such
Trust, may terminate such Trust and distribute the Trust property to the person or persons then
entitled to receive or have the benefit of the income therefrom or the legal representative of such
person. If there is more than one income Beneficiary, the Trustee shall make such distribution to
such income Beneficiaries in the proportion in which they are Beneficiaries or, if no proportion
is designated, in equal shares to such Beneficiaries.
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Valuation of Assets
In making the distributions of any trust or share created under this Trust Agreement, the
judgment of the Trustee concerning the valuation of assets distributed shall be binding and
conclusive upon all Beneficiaries. The Trustee may distribute the shares of the various Trusts to
Beneficiaries by making distribution in cash, or in kind, or partly in cash and partly in kind, or in
undivided interests, in such manner as the Trustee in his or her sole and absolute discretion
deems advisable. The Trustee may sell such property as the Trustee deems necessary to make
such division or distribution. After any division of the Trust Estate, the Trustee may make
commonly owned investments with funds from some or all of the several shares of the Trust
Estate.
Application to Court
If there ever is any need to obtain court approval of any accounting or interpretation of
this Agreement, the Trustors direct the Trustee to make such application to any court of
competent jurisdiction, it being the intent of the Trustors that the court shall not assume
continuing jurisdiction.
Insurance
The following provisions apply to insurance held by the "I'cust or of which the Trust is the
Beneficiary.
Policv Owner's Rights -Nothing in this Article shall be construed as limiting the right of
either Trustor to dispose of by Will his or her interest in any life insurance policy on the other
Trustor's life that is payable to the Trustee hereunder or as limiting any such right a Trustor may
possess in any such insurance policy by virtue of its commonly owned or community property
character.
Trustee Held Harmless as Custodian - The owner of any life insurance policies payable to
the Trustee shall have all rights under any such policies, including the right to change the
Beneficiary, to receive any dividends or other earnings of such policies without accountability
therefore to the Trustee or any Beneficiary hereunder, and may assign any policies to any lender,
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including the Trustee, as security for any loan to either Trustor or any other person; and the
Trustee shall have no responsibility with respect to any policies, for the payment of premiums or
otherwise, except to hold any policies received by the Trustee in safekeeping and to deliver them
upon owner's written request and upon the payment to the Trustee of reasonable compensation
for services. The rights of any assignee of any policy shall be superior to the rights of the
Trustee.
Cancelin� a Policy - If any policy is surrendered or if the Beneficiary is changed, this
Trust 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 company.
Policy O�tions - Upon the death of the insured under any policy held by or known to, and
payable to, the Trustee, or upon the occurrence of some event prior to the death of the insured
that matures any such policy, the Trustee, in the Trustee's discretion, either may collect the net
proceeds and hold them as part of the principal of the Trust Estate, or may exercise any optional
method of settlement available to the Trustee, and the Trustee shall deliver any policies on the
Trustor's life held by the Trustee and payable to any other beneficiaries as those beneficiaries
may direct.
Insurance Payment Dischar�e - Payment to, and the receipt of, the proceeds, by the
Trustee shall be a full discharge of the liability of any insurance company, which need not take
notice of this Trust Agreement or see to the application of any payment.
Suing an Insurance Company - The Trustee need not engage in litigation to enforce
payment of any policy without prior indemnification to the Trusfee from the Trust satisfactory to
the Trustee for any resulting expenses.
Limitation on Change of Beneficiarv - The Trustee shall not have the power or authority
to change the beneficiary of any policy of insurance held in any irrevocable trust created under
the terms hereof.
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PAYMENT OF DEATH COSTS
The Trustee shall see to the payment of all obligations of a deceased Trustor without an
order of the court, including costs of final illness, funeral and interrnent as deemed appropriate
by the Trustee.
Discretionary Powers of Trustee to Pav Death Costs
After a Trustor's death, the Trustee may, in the Trustee's discretion without an order of
the court pay all or any part of such deceased Trustor's funeral and last illness expenses, legally
enforceable claims against the Trustor or his or her estate, reasonable expenses of estate
administration, any allowances by court order to those dependent upon such Trustor, any estate,
inheritance, succession, death or similar taxes payable by reason of such Trustor's death, together
with any interest thereon or other additions thereto, without reimbursement from such Trustor's
Executor, Personal Representative or Administrator, from any Beneficiary of insurance upon
such Trustor's life, or from any other person. All such payments, except for interest, shall be
charged generally against the principal of the Trust Estate includable in such Trustor's estate for
Federal estate tax purposes and any interest so paid shall be charged generally against the income
thereof except as follows:
Specific Provisions for Settlin�Estate
On the death of the first of the Trustors to die, the Surviving Trustor shall allocate and
charge the final costs of the death of the first Trustor to die, to Trust A or Trust B, as appropriate.
Final costs shall include the costs of final illness, funeral expenses, and any Federal and
State taxes. All taxes shall be charged against the Trust Estate containing the assets creating the
liability. Costs and expenses deducted in computing Federal Est�te Tax and/or any State death
tax shall be charged against the estate of the decedent Trustor.
On the death of the Surviving Trustor, the Successor Trustee sliall charge Trust A with
the costs of final illness, funeral expenses, and any Federal and State taxes of the Surviving
Trustor.
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Written Statement as Evidence
Written statement by the executor, personal representative or administrator of such sums
due and payable by the Trust Estate shall be sufficient evidence of�their amount and propriety for
the protection of the Trustee, and the Trustee shall be under no duty to see to the application of
any such payments.
Flower Bonds
The Trustee shall see to the redemption of any obligations of the United States
Government held hereunder which may be redeemed at par in payment of federal estate taxes, if
held as part of the deceased Trustor's taxable estate, to the extent of the deceased Trustor's
interest therein. �
If someone other than the Trustee is charged with the filing of returns and payment of
death taxes, then the Trustee may pay over to such person(s) the obligations to be used in
payment of taxes and upon receipt by such person(s) the Trustee shall be released from any duty
to see to the application thereof.
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DEATH OF TRUSTOR
Upon the death of either Trustor the Surviving Trustee shall divide and allocate the Trust
Estate into two (2) separate shares as described in the following section. This division shall
include any property which may be added from the deceased Trustor's general estate. One share
shall be designated as Survivor's Trust A and the other share shall be designated as Decedent's
Marital Share, Trust B.
Survivor's Trust A
Survivor's Trust A shall consist of the Survivor's one-half(1/2) interest in the commonly
owned property or community property, quasi-community property and all other property
included in the Trust Estate as the separate property of the Surviving 'I'rustor. Upon division into
shares at the death of a Trustor, Survivor's Trust A shall remain revocable by the Surviving
Trustor during the life of the Surviving Trustor. Upon the death of the Surviving Trustor this
share shall become irrevocable.
Any property not allocated to the Decedent's Marital Share, or otherwise allocated by the
provisions of this Trust at the death of the first of the Trustors to die, shall be allocated to this
Survivor's Trust A.
Decedent's Marital Share
Decedent's Marital Share shall consist of the Decedent's one-half(1/2) interest in the
commonly owned property or community property of the Trust Estate, one-half(1/2) interest in
the quasi-community property and all other property included in the Trust Estate as the Separate
Property of the Decedent Trustor. Decedent's Marital Share shall be placed into Decedent's
Trust B. Upon creation of such Trust shares, Decedent's Trust B is irrevocable.
The Surviving Trustee shall have the sole discretion to select the commonly owned,
community and quasi-community assets or the proportionate share of any such assets which shall
be included in the Decedent's Trust B. The Trustee shall value any asset selected by the Trustee
for distribution in kind to the Decedent's share at the value of such asset at the date of
distribution to the Decedent's share.
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. —
, ,
Unlimited Marital Deduction
The term "unlimited marital deduction" shall not be construed as a direction by the
deceased Trustor to exercise any election respecting the deduction of estate administration
expenses, the determination of the estate tax valuation date, or an�� other tax election which may
be available under any tax laws. This term is used to indicate the Trustors' desire to minimize
any tax on the event of the first to die, and it is their wish that the "I'rustee administer the Trust
Estate in such a manner as will result in the largest allowable estate tax marital deduction at the
death of the first of the Trustors to die, after funding Decedent's Trust Q to the maximum amount
which can be allocated to Decedent's Trust B without incurring any Federal Estate Tax.
Disclaimer of Interest
, The Surviving Trustor may disclaim his or her interest in any asset, or portion thereof,
which is included in the Trust Estate or any share created by this 'I'rust Agreement. Such
disclaimer shall be in writing, in such form as may be prescribed by state law, and which may
meet the further requirements of the rules and regulations of the Internal Revenue Service for
qualified disclaimers. The Surviving Trustor may disclaim his or her right to income, the right to
invade principal (whether by ascertainable standard or otherwise), the right to appoint the
residual by amendment to this Trust or by testamentary instrument, and any other right or rights,
interest and/or portions thereof.
In making the election to disclaim any interest in property, the Surviving Trustor may
choose that property to be disclaimed, and such interest or interests therein as they may deem
prudent. If a disclaimer extends to the Surviving Trustor's entire interest in an asset, and all
rights therein, such asset shall be held, managed, allocated and distributed according to the terms
hereof which obtain upon the death of the Surviving Trustor, as if such death had occuned.
If the Surviving Trustor shall not disclaim his or her entire interest in an asset of the Trust
Estate, such partial disclaimer shall act as an amendment of this Trust, and the Trustee shall
abide by the terms,provisions and limitations contained therein. '�o the extent necessary to
comply with the requirements of state or federal law, the Trustee is empowered to make specific
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amendments to this Trust and its provisions to give effect to the terms of a qualified disclaimer
by the Surviving Trustor, except that no such amendment(s) may amend any Trust that has
become irrevocable due to the death of a Trustor.
Division of Marital Share
The marital share shall be divided and administered as follows: an amount equal to the
exemption equivalent available by reason of the unified tax credit available under Internal
Revenue Code Section 2010 or any successor or modified version of that Section (reduced by
any such credit applied to life-time transfers) shall be placed in Decedent's Trust B and shall be
administered under the terms of Trust B as hereinafter set forth (Decedent's Trust B), and any
amount of the marital share exceeding the amount allocated to Trust B shall be administered
under the terms of Trust A as hereinafter set forth.
The assets allocated to Decedent's Trust B shall include amounts held by the Decedent
Trustor in IRA or other retirement plans, and which have been disclaimed in favor of said Trust
B by the Surviving Trustor. As to such assets in Trust B, the terms of"Trust B shall be
irrevocable, and the Surviving Trustar shall be the irrevocable lifetime beneficiary thereo£ The
Successor Trustee is given the authority by the Trustors to amend the said Trust B as necessary
to conform it to the appropriate laws and regulations, now and in the f uture, that apply to a trust
named as a beneficiary of such a retirement account, so as to retain all options for the settlement
thereof as if the Surviving Trustor were the direct beneficiary, as may be prescribed by the
Internal Revenue Code and related laws and regulations.
Decedent's Trust B
Decedent's Trust B shall be composed of cash, securities or other property of the Trust
Estate having a value equal to the largest amount, that after allowing far the unified credit
against the federal estate tax and the state death tax credit against such tax (but only to the extent
that the use of such state death tax credit does not increase the death tax payable to any state),
will not result in a federal estate tax being imposed on the estate of the deceased Trustar.
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� i i iu n �
Notwithstanding the foregoing, if the decedent Trustor is a non-resident, non-citizen of
the United States at death, then all of the Decedent's Share shall be allocated to Survivor's Trust
A after funding Decedent's Trust B.
Use of Trusts A and B - Simultaneous Death
If both Trustors should die under circumstances which would render it doubtful as to
which Trustor died first, half of the commonly owned and/or community assets and all of one of
the Trustor's separate property shall be allocated and transferred to Trust A, and the other half of
the commonly owned and/or community assets and all of the other Trustor's separate property
shall be allocated and transferred to Trust B. Assets so allocated shall be administered in
accardance with the terms for each Trustor's share, as their interests appear.
If any non-Trustor beneficiary and a Trustor should die under circumstances which would
render it doubtful as to which died first, the Trustor or the non-Trustor beneficiary, it shall be
conclusively presumed that said non-Trustor beneficiary predeceased such Trustor by (60) sixty
days.
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SURVIVOR'S TRUST A
Survivor's Trust A shall be held, administered and distributed as follows:
Ri�ht to Income
Commencing with the date of the first Trustor's death, the Trustee shall pay to or apply
for the benefit of the Surviving Trustor during his or her lifetime all the net income from Trust A
in convenient installments but no less frequently than quarterly.
Right to Principal
In addition, the Trustee may pay to or apply for the benefit of the Surviving Trustor such
sums from the principal of Trust A as in the Trustees' sole discretion shall be necessary or
advisable from time to time for the health, education, maintenance or support of the Surviving
Trustor, taking into consideration to the extent the Trustees deem advisable, any other income or
resources of the Surviving Trustor known to the Trustees.
Right to Withdraw Principal
The Surviving Trustor may, at any time during his or her lifetime and from time to time,
withdraw all or any part of the principal of Trust A, free of trust, by deNivering to the Trustee an
instrument in writing, duly signed by the Surviving Trustor, describing the property or portion
thereof desired to be withdrawn. Upon receipt of such instrument, the Trustee shall thereupon
convey and deliver to the Surviving Trustor, free of trust, the property described in such
instrument.
Controt of Assets
The Surviving Trustor may, at any time by written notice, require the Trustee either to
make any nonproductive property of this Trust productive or to convert productive property to
nonproductive property, each within a reasonable time. The Surviving Trustor may further
require the Trustee to invest part, or all, of this share of Trust assets for the purpose of
maximizing income rather than growth, or growth rather than incame.
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Ri�ht to Chan�e Beneficiary
The Surviving Trustor retains the right to change the beneficiaries of Trust A.
Distribution of Residual of Trust A
The balance of the principal of Trust A shall be distributed in accordance with the
provisions specified in the section of this Trust titled "ALLOCAI'ION AND DISTRIBUTION
OF TRUST ASSETS."
If the Trustor whose share is represented by this Trust A inakes specific provision for
beneficiaries, allocation and distribution; and such provision cannot be complied with due to the
death of a specified beneficiary, or if for any reason a specified distribution cannot be made as
directed, then provisions of"Per Stirpes" as specified herein shall govern distribution, with
reference to the affected Trustor's beneficiaries and share.
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1II'I..II II.11.,11 1
DECEDENT'S TRUST B
Decedent's Trust B shall be inevocable and shall be held, administered and distributed as
follows:
Pavment of Income
Commencing with the date of first Trustor's death, the Trustee may pay to or apply for
the benefit of the Surviving Trustor during his or her lifetime all the net income from Trust B in
convenient installments, but no less frequently than quarterly.
Pavment of Principal
The Trustee may pay to, or apply for the benefit of, the Surviving Trustor, during his or
her lifetime, such sums from the principal of Trust B as in the Trustee's sole discretion shall be
necessary or advisable from time to time for the health, education, maintenance and support of
the Surviving Trustor, taking into consideration to the extent the Trustee deems advisable, any
other income or resources of the Surviving Trustor known to the "I'rustee.
Other Pavments
In addition to the income (paid under "Payment of Income" above) and discretionary
payments of principal (paid under "Payment of Principal" above) from this Trust, there shall be
paid to the Surviving Trustor, during his or her lifetime, from the principal of this Trust, upon the
Surviving Trustor's written request, during the last month of each fiscal year of the Trust an
amount not to exceed during such fiscal year the amount of five thousand ($5,000) dollars or five
(5%) percent of the aggregate value of principal for such fiscal year, whichever is greater. This
right of withdrawal is noncumulative, so that if the Surviving Trustor does not withdraw, during
such fiscal year, the full amount to which he or she is entitled under this Paragraph, his or her
right to withdraw the amount not withdrawn shall lapse at the end of that fiscal year.
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Control of Assets
The Surviving Trustar may, at any time by written notice, require the Trustee either to
make any nonproductive property of this Trust productive or to convert productive property to
nonproductive property, each within a reasonable time. The Surviving Trustor may further
require the Trustee to invest part, or all, of this share of Trust assets for the purpose of
maximizing income rather than growth, or growth rather than income.
Qualified Terminable Interest
It is the intent of the Trustors that Trust B shall meet the requirements for treatment as a
qualified terminable interest under I.R.C. Sections 2523(�(2)(C) and 2056(b)(7)(B)(v). The
Trustee (or Executor of the first Trustor to die, as the case may be) shall have the authority to
elect to treat all ar a fractional share of the assets in Trust B as qualified terminable interest
property. In addition, the Trustee (or Executor of the first Trustor to die, as the case may be)
shall have the authority to make an election under any applicable state law to treat all or a
fractional share of Trust B Property (including a different fractional s}Zare than selected in any
federal law election) as qualifying for any state law marital deduction.
The Trustees of Trust B are given the authority to amend this Trust Agreement to
conform the terms to the applicable rules and regulations, now and in the future, to secure for the
property of Trust B, treatment as qualified terminable interest property as defined in LR.C.
Sections 2523(fl(2)(C) and 2056(b)(7)(B)(v) or any subsequent provisions of the I.R.C. and as
interpreted and applied by the rules and cases thereunder, insofar as it is legally possible to do so.
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�a.i ..�. �u...0 �
Distribution of Residual of Trust B
The balance of the principal of Trust B shall be distributeci in accordance with the
provisions specified in the section of this Trust titled "ALLOCATION AND DISTRIBUTION
OF TRUST ASSETS."
If the Trustor whose share is represented by this Trust B makes specific provision for
beneficiaries, allocation and distribution; and such provision cannot be complied with due to the
death of a specified beneficiary, or if for any reason a specified distribution cannot be made as
directed, then provisions of"Per Stirpes" as specified herein shall govern distribution, with
reference to the affected Trustor's beneficiaries and share.
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ALLOCATION AND DISTRIBUTION OF TRUST ASSETS
The Trustee shall allocate, hold, administer and distribute the 7'rust assets as hereinafter
delineated.
Upon Death of the First Trustor
Upon the death of the first Trustor, the Trustee shall make any separate distributions that
have been specified by the deceased Trustor. The Trustee shall also take into consideration the
appropriate provisions of this section.
Upon the Death of Both Trustors
Upon the death of the Surviving Trustor, the Trustee shall hold, administer and distribute
the Trust in the following manner.
Personal Property Distribution
The Trustors request the Trustee to abide by any memorandum by the Trustors directing
the disposition of personal and household effects of every kind including but not limited to
furniture, appliances, furnishings, pictures, china, silverware, giass, books,jewelry, wearing
apparel, and all policies of fire, burglary, property damage, and other insurance on or in
connection with the use of this property. Otherwise, the personal and household effects of the
Trustors shall be distributed with the remaining assets of the Trust Estate.
Support and Education
At any time prior to the division of the Trust into shares as hereinafter provided, or prior
to distribution if divided, the Trustee may, at his/her sole and absolute discretion, provide such
sums as shall be necessary or advisable, for the health, education, maintenance and support of
any Primary Beneficiary, provided, however, such aid or support shall be charged against the
share of the Beneficiary receiving it, and that no such aid or support shall in any way diminish
the benefits available to any other Beneficiary. This provision shall also apply to the issue of a
deceased Primary Beneficiary (as hereinafter designated).
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Extraordinary Distribution
The Trustee is further authorized, in his or her sole and absolute discretion, to provide
such sums as shall be necessary or advisable, for the furtherance of worthwhile personal,
professional or business goals, and if deemed appropriate by the Trustee, to provide such
reasonable sums for a partial or complete down-payment on a home of any Primary Beneficiary,
provided, however, such aid or support shall be charged against the share of the Beneficiary
receiving it, and that such aid or support shall in no way diminish the benefits available to any
other Beneficiary. Such provision shall also apply to the issue of a deceased Primary Beneficiary
of the Trustors, if applicable.
The Trustee is authorized, in his or her sole and absolute discretion, to distribute all the
net income of the Trust Estate, at least annually, to the beneficiaries then entitled to income.
Any distribution of income shall be made in the same proportion as the beneficiary's right to
principal bears to the total principal of the Trust Estate. For example, if a beneficiary is entitled
to a future distribution of twenty-five percent (25%) of the principal, the Trustee may distribute
twenty-five percent(25%) of the net income to the beneficiary.
The Trustee shall record such extraordinary distributions that are made under this
provision in Schedule A.
Gifts or Loans
The Trustee shall reduce a Beneficiary's share by any gifts or loans as shown in
Schedule A.
Disabled Beneficiaries
As used in this section, the term "Disabled Beneficiary" and any variations thereof and
references thereto, shall mean any beneficiary of this Trust who has been determined by a court
of competent jurisdiction to be incompetent or unable to adequately manage his or her affairs.
Additionally, the Trustee may make a determination, in accordance with the procedures for
determining the competency of a Trustee, of the incompetency of any beneficiary. The interests
of all such Beneficiaries shall be governed by these provisions for Disabled Beneficiaries.
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Disabled Beneficiaries shall not have any discretionary property rights of a beneficiary
with respect to this Trust, or with respect to his or her share or portion thereof. The Trustees
shall hold and maintain such incompetent beneficiary's share of the Trust Estate in trust.
Notwithstanding the foregoing, any Beneficiary who is diagnosed for the purposes of
governmental benefits (as hereinafter delineated) as being not competent or as being disabled,
and who shall be entitled to governmental support and benefits by reason of such incompetency
or disability, shall cease to be a Beneficiary, and Trustee if so named, of this Trust if such aid is
jeopardized by reason of the individual's status as a Beneficiary or Trustee. Likewise, they shall
cease to be a Beneficiary or Trustee if any share or portion of the principal or income of the
Trust shall become subject to the claims of any governmental agency far costs or benefits, fees
or charges.
The portion of the Trust Estate which, absent the provisions of this section "Disabled
Beneficiaries," would have been the share of such incompetent or handicapped person shall be
retained in Trust for as long as that individual lives. All income from such share, not otherwise
utilized for the purposes of this Trust share, shall be added to the principal thereof annually.
While the Trustees hold Trust property available for the benefit of any Disabled Beneficiary, it is
the intent of the Trustors, and they direct that the Trustee(s), in their sole and absolute discretion,
provide comfort, luxury, and life enrichment benefits for that Disabled Beneficiary which will
not cause the loss of any Governmental benefit to which that Beneficiary would otherwise be
entitled but will supplement any governmental benefit. Such benefits may include: training to
develop skills and abilities, transportation, educational support, tutoring, adaptive vocational
skills training, home and residential adaptation assistance, medical and dental expenses, medical
and dental insurance, clothing, equipment, entertainment, essential dietary needs, treatment
programs, diagnostic work and treatment, rehabilitative training and experimental medical
services, differential in cost between shelter for shared and private group home rooms,
supplemental nursing care, recreation, cultural experience, outings and travel, telephone and
television, exercise equipment and unreimbursed therapy, and any other programs to provide for
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the special needs or "life enrichment" of the Beneficiary as may be permitted by law. Upon the
death of this individual, the residual of this share shall be distributed as otherwise specified in the
Trust.
If such individual recovers from incompetency or disability, and is no longer eligible for
aid from any governmental agency, including costs or benefits, fees or charges, the discretionary
property rights of such individual shall be reinstated after sixty(60) days from such recovery
and/or ineligibility, and the distribution provisions as stated herein shall apply to that portion of
the Trust Estate which is held by the Trustee subject to the faregoing provisions of this section.
Upon the death of a Disabled Beneficiary who otherwise would have been a Beneficiary
of this Trust, any allocation of the Trust Estate held in Trust which would otherwise have inured
to the benefit of said Disabled Beneficiary shall be distributed as otherwise provided per the
provisions which allocate and distribute Trust Assets.
Each share shall be distributed or retained in Trust as hereinafter provided.
Primary Beneficiaries
Unless otherwise herein provided, upon or after the death of the Surviving Trustor, the
Primary beneficiaries of this Trust are Krystal J. Bouder; Kennetli L. Sjoberg; Erik R. Sjoberg;
Mark A. Sjoberg; Kurt P. Sjoberg; John M. Sjoberg; and Stephen W. Sjoberg.
Allocation of Trust Assets
Upon the death of the Surviving Trustor the Trustee shall allocate the balance of the Trust
Estate as then constituted into equal separate shares to provide one (1) share each for Krystal J.
Bouder; Kenneth L. Sjoberg; Erik R. Sjoberg; Mark A. Sjoberg; Kurt F'. Sjoberg; John M.
Sjoberg; and Stephen W. Sjoberg, the Primary Beneficiaries of the Trust Estate.
Each share shall be held, managed and distributed as provided in the provision entitled
"Distribution of Trust Assets."
In the event Krystal J. Bouder dies before receiving Krystal J. Bouder's entire share,
Krystal J. Bouder's share shall be reallocated in the following manner: the undistributed balance
of Krystal J. Bouder's share shall be allocated to create one share for each living child and one
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share for each group composed of the living issue of a deceased child of the deceased Primary
Beneficiary who are all contingent beneficiaries of Krystal J. Bouder, the Primary Beneficiary,
and distributed to such then living issue by right of representation in accordance with the
Provision titled "Per Stirpes."
If all the issue of Krystal J. Bouder die before receiving tlleir entire share, the
undistributed balance of Krystal J. Bouder's share shall be allocated equally among the Trustors'
remaining Primary Beneficiaries and deceased Primary Beneficiaries leaving then living issue by
right of representation and distributed as otherwise provided in this Trust Agreement.
In the event Kenneth L. Sjoberg dies before receiving Kennet}1 L. Sjoberg's entire share,
Kenneth L. Sjoberg's share shall be reallocated in the following�nanner: the undistributed
balance of Kenneth L. Sjoberg's share shall be allocated to create one share for each living child
and one share for each group composed of the living issue of a deceased child of the deceased
Primary Beneficiary who are all contingent beneficiaries of Kenneth L. Sjoberg, the Primary
Beneficiary, and distributed to such then living issue by right of representation in accordance
with the Provision titled "Per Stirpes."
If all the issue of Kenneth L. Sjoberg die before receiving their entire share, the
undistributed balance of Kenneth L. Sjoberg's share shall be allocated equally among the
Trustors' remaining Primary Beneficiaries and deceased Primary Beneficiaries leaving then
living issue by right of representation and distributed as otherwise provided in this Trust
Agreement.
In the event Erik R. Sjoberg dies before receiving Erik R. Sjoberg's entire share, Erik R.
Sjoberg's share shall be reallocated in the following manner: the undistributed balance of Erik R.
Sjoberg's share shall be allocated to create one share for each living child and one share for each
group composed of the living issue of a deceased child of the deceased Primary Beneficiary who
are all contingent beneficiaries of Erik R. Sjoberg, the Primary Beneficiary, and distributed to
such then living issue by right of representation in accordance with the Provision titled "Per
Stirpes."
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If all the issue of Erik R. Sjoberg die before receiving their entire share, the undistributed
balance of Erik R. Sjoberg's share shall be allocated equally among the Trustors' remaining
Primary Beneficiaries and deceased Primary Beneficiaries leaving then living issue by right of
representation and distributed as otherwise provided in this Trust Agreement.
In the event Mark A. Sjoberg dies before receiving Mark A. Sjoberg's entire share, Mark
A. Sjoberg's share shall be reallocated in the following manner: the undistributed balance of
Mark A. Sjoberg's share shall be allocated to create one share far each living child and one share
for each group composed of the living issue of a deceased child of the deceased Primary
Beneficiary who are all contingent beneficiaries of Mark A. Sjoberg, the Primary Beneficiary,
and distributed to such then living issue by right of representation in accordance with the
Provision titled "Per Stirpes."
If all the issue of Mark A. Sjoberg die before receiving their entire share, the
undistributed balance of Mark A. Sjoberg's share shall be allocat�.d equally among the Trustors'
remaining Primary Beneficiaries and deceased Primary Beneficiaries leaving then living issue by
right of representation and distributed as otherwise provided in this Trust Agreement.
In the event Kurt P. Sjoberg dies before receiving Kurt P. Sjoberg's entire share, Kurt P.
Sjoberg's share shall be reallocated in the following manner: the undistributed balance of Kurt P.
Sjoberg's share shall be allocated to create one share for each living cl�ild and one share for each
group composed of the living issue of a deceased child of the deceased Primary Beneficiary who
are all contingent beneficiaries of Kurt P. Sjoberg, the Primary Beneficiary, and distributed to
such then living issue by right of representation in accordance with the Provision titled "Per
Stirpes."
If all the issue of Kurt P. Sjoberg die before receiving their entire share,the undistributed
balance of Kurt P. Sjoberg's share shall be allocated equally among the Trustors' remaining
Primary Beneficiaries and deceased Primary Beneficiaries leaving then living issue by right of
representation and distributed as otherwise provided in this Trust Agreement.
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In the event John M. Sjoberg dies before receiving John M. Sjoberg's entire share, John
M. Sjoberg's share shall be reallocated in the following manner: the undistributed balance of
John M. Sjoberg's share shall be allocated to create one share for each living child and one share
for each group composed of the living issue of a deceased child of the deceased Primary
Beneficiary who are all contingent beneficiaries of John M. Sjoberg, the Primary Beneficiary,
and distributed to such then living issue by right of representation in accordance with the
Provision titled "Per Stirpes."
If all the issue of John M. Sjoberg die before receiving their entire share, the
undistributed balance of John M. Sjoberg's share shall be allocated equally among the Trustors'
remaining Primary Beneficiaries and deceased Primary Beneficiaries leaving then living issue by
right of representation and distributed as otherwise provided in this Trust Agreement.
In the event Stephen W. Sjoberg dies before receiving Stephen W. Sjoberg's entire share,
Stephen W. Sjoberg's share shall be reallocated in the following rnanner: the undistributed
balance of Stephen W. Sjoberg's share shall be allocated equally among the Trustors' remaining
Primary Beneficiaries and deceased Primary Beneficiaries leaving then living issue by right of
representation and distributed as otherwise provided in this Trusc Agreement.
Distribution of Trust Assets
Following the death of the Surviving Trustor, the Trustee shall distribute to Krystal J.
Bouder according to the following schedule:
The Trustee shall distribute the share outright as soon as practicable. Any share allocated
to the issue of Krystal J. Bouder due to that Primary Beneficiary"s deatll prior to receiving his or
her share shall be distributed according to the provision titled "Per Stirpes."
Following the death of the Surviving Trustor, the Trustee shall distribute to Kenneth L.
Sjoberg according to the following schedule:
The Trustee shall distribute the share outright as soon as practicable. Any share allocated
to the issue of Kenneth L. Sjoberg due to that Primary Beneficiary's death prior to receiving his
ar her share shall be distributed according to the provision titled "Per Stirpes."
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Following the death of the Surviving Trustor, the Trustee shall distribute to Erik R.
Sjoberg according to the following schedule:
The Trustee shall distribute the share outright as soon as practicable. Any share allocated
to the issue of Erik R. Sjoberg due to that Primary Beneficiary's death prior to receiving his or
her share shall be distributed according to the provision titled 'Per Stirpes."
Following the death of the Surviving Trustor, the Trustee shall distribute to Mark A.
Sjoberg according to the following schedule:
The Trustee shall distribute the share outright as soon as practicable. Any share allocated
to the issue of Mark A. Sjoberg due to that Primary Beneficiary's death prior to receiving his or
her share shall be distributed according to the provision titled "Per Stirpes."
Following the death of the Surviving Trustor, the Trustee shall distribute to Kurt P.
Sjoberg according to the following schedule:
The Trustee shall distribute the share outright as soon as practicable. Any share allocated
to the issue of Kurt P. Sjoberg due to that Primary Beneficiary's c�eath prior to receiving his or
her share shall be distributed according to the provision titled "Per Stirpes."
Following the death of the Surviving Trustor, the Trustee shall distribute to John M.
Sjoberg according to the following schedule:
The Trustee shall distribute the share outright as soon as practicable. Any share allocated
to the issue of John M. Sjoberg due to that Primary Beneficiary's death prior to receiving his or
her share shall be distributed according to the provision titled "Per Stirpes."
Following the death of the Surviving Trustor, the Trustee shall invest and reinvest the
share of Stephen W. Sjoberg. Stephen W. Sjoberg's share shall be held, managed and distributed
according to the provision "Disabled Beneficiaries." On the death of Stephen W. Sjoberg the
share shall be distributed as otherwise provided.
Any and all Pennsylvania Real Property that is transferred or conveyed into this Trust by
the Trustors shall be allocated and distributed only to Lineal Heirs or I3eneficiaries of the
Trustors who are exempt from Local and State transfer tax pursuant to Pennsylvania Code Title
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61 Section 91.193(b)(6). It is the specific intent of the Trustors that any and all Pennsylvania
Real Property that has been transfened or conveyed into the Trust shall be allocated and
distributed only to persons who would be exempt from the imposition of any Local and State
transfer tax. Pennsylvania Real Property is therefor specifically excluded from being allocated
and/or distributed to any Beneficiaries who are not exempt from the imposition of Local and
State transfer pursuant to Pennsylvania Code Title 61 Section 91.193(b)(6).
Per Stirpes
After division into shares, pursuant to the allocation and distribution directions set forth
in this Trust, if a Primary Beneficiary or the issue of a deceased Primary Beneficiary predeceases
complete distribution of his or her share, and there is no other direction for allocation and
distribution, then the undistributed balance of such share shall be allocated and distributed as
hereinafter provided. Any share allocated to the issue of a deceased Primary Beneficiary shall be
distributed by right of representation in the following manner: when an heir(issue of a deceased
Primary Beneficiary) attains the age of twenty-five (25) years, the Trustee shall distribute to such
beneficiary the undistributed balance of his or her share outright. If an heir (issue of a deceased
Primary Beneficiary)has already attained age twenty-five (25) at the time this Trust is divided
into shares, the Trustee shall, upon making the division, distribute to such beneficiary all of that
beneficiary's share, respectively. If no provision has been made for allocation of trust assets and
distribution of trust assets for the disposition of a trust share in the event such trust share cannot
be distributed to the designated beneficiary because the designated beneficiary predeceases
distribution, or for any other reason, then the balance of such trust share shall be allocated to the
issue of the designated beneficiary by right of representation and held, administered and
distributed in accordance with the provisions of this section, "Per Stirpes."
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Property Exposed to Environmental Hazards
The Trustors are not aware of any environmental harm existing on any property now
owned by the Trustee(s) on behalf of this Trust. Any property in the Trust Estate determined by
the Trustee to be subject to CERCLA (Comprehensive Environmental Response Compensation
and Liability Act) liability in an amount which exceeds the fair market value of the property as
finally determined in the deceased Trustor's final tax return shall be irrevocably devised to the
government of the United States of America as an absolute and unrestricted charitable gift.
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GENERAL PROVISIONS
The following general provisions apply to the entire Trust Agreement.
Intention to Avoid Probate
It is the intention of the Trustors to avoid probate through the use of this Trust
Agreement. If, however, the Trustee of this Trust and the Executor or Personal Representative of
the estate of either or both Trustors shall mutually determine that it shall be in the best interests
of the Beneficiaries of the Trust, and the beneficial interests of the Beneficiaries shall not thereby
be altered, the Trustee may subject any asset to probate to accomplish a result unavailable
without probate (e.g. to bar future creditor claims).
Annual Accountin�
Any non-Trustor Successor Trustee shall render an annual accounting to the Beneficiary
or Beneficiaries of the Trust not more than one hundred twenty (120) days following the close of
the fiscal year of the Trust.
Partial Invalidity
If any provision of this Agreement is void, invalid or unenforceable, the remaining
provisions shall nevertheless be valid and carried into effect.
Headings
The headings of this Agreement are for convenience only and are not a part of the text.
Counterparts
This Agreement may be executed in any number of counterparts and each shall constitute
an original of one and the same instrument.
Snendthrift Provisions
Except as otherwise provided herein, all payments of principal and income payable, or to
become payable, to the Beneficiary of any Trust created hereunder shall not be subject to
anticipation, assignment, pledge, sale or transfer in any manner, nor shall any said beneficiary
have the power to anticipate or encumber such interest, nor shall such interest, while in the
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possession of the Trustee, be liable for, or subject to, the debts, contracts, obligations, liabilities
or torts of any Beneficiary.
Last Illness and Funeral Exnense
On the death of any person entitled to income or support from any Trust hereunder, the
Trustee shall be authorized to pay the funeral expenses and the expenses of the last illness of
such person from the corpus of the Trust from which such person was entitled to income or
support.
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