Filing # 180228631 E-Filed 08/22/2023 01:04:25 PM
`Filing # 180228631 E-Filed 08/22/2023 01:04:25 PM
`
`EXHIBIT "A"
`EXHIBIT "A"
`
`ESTATE PLANNING
`
`PORTFOLIO
`
`OF
`
`ADA PRIETO
`
`Prepared By:
`
`OSCAR E. BERLANGA
`Attorney at Law
`
`OSCAR E. BERLANGA,P.A.
`11120 North Kendall Drive
`Suite 201
`Miami, Florida 33176
`
`(305) 279-3140
`
`

`

`TABLE OF CONTENTS
`
`FOR
`
`THE ADA PRIETO REVOCABLE TRUST
`
`ARTICLEI......
`
`NeveauaseunnennecnenstiveruennsneransoennersaseasascedanuaseeeneneananeuseuerusnsaacLasisa poneuaranensataransugsnaceceeesnensacaceearensaaenennasenease 3
`
`RECITALS AND CONVEYANCEw..ccsccscsscssessssasessesesssssssvssssesssescsucecesesessvssvsssauantsnsavensansassucsnsacsecsesavereavarsacaseusvavessassasese 3
`
`ARTICLEI..... Seveaannaceneeaunsnneneesucrncnnsesenaresneesuaenenaennaessnenspaaseacensen ruasuesnsenseusso tous buaensoesensenacanenseuseneonsansoneeeussusnuenacsseness 3
`
`DECLARATIONS.....sesesesesssssssssesesncsseeevervspeasaneusatensasasesesscsesucaseveusavavsssaseecstssuseasavesusvsssscassusavavavsavarsusavaeavassscsassscesseesees 3
`2.A
`NOUTIC oo.esesescscsnsesesnscscsesssescsnsssevessessvarscscsesasgsssssauesessessssesnseveeasssatausssarssusnazatasecssesssarssseesvaressiravensacsssesace B
`2.8.
`FOUTVLY ee esesescccscecscneccssssssscccssnensvavavssssaavasssssacassssecccscesesesecenensnsssrsssvanasavatavacssscassesususutuenssssssssessononenans 3
`2.6.
`SUCCESSOL TFUSTCES...cscccscssecseeccesenssssssesssnscsssestssssscsceccscscssssvstasuessersaraeatsssusnssasacaesssssessssisessecisecuesesessessese 3
`2.D.
`TUSE ESCORTC cicscscscsssssssscescssecerersnsssessvatsesesssassssesescscesseacssaseevesesadasanadasavassssasaussacasacseacscacasaveraueususasitesiaes 4
`2.E.
`DeFLIOMS oo... ssssetetessesnsesteescsssecescesssssesetesessususssessasscasavavsvasausavavecssssesuvsrsasacavaasssasuatatasitisisisseseceeseevevens
`ty
`BeQrePichary ...ceessccssececcesceecsseesrversesaueussvsussvsseessvessasseseesengenns
`CEASE TO ACE ciccccececsssceserserersesanssssassnsenane
`COG. eee eeeeee
`ceecneeveneaneeernensenavseeeans
`Descendants o......eeseseesessessrscensensssssersavsecsees
`
`
`
`
`
`
`(1)
`(2)
`(3)
`(4)
`(5)
`(6)
`(7)
`(8)
`(9)
`(10)
`(11)
`(12)
`(13)
`(14)
`(15}
`(16)
`(17)
`2F.
`2.G.
`2.H.
`21.
`24.
`2.K.
`2.L.
`
`ADDAUUUUHUHOARRERED
`
`DiSAPDEALANCE occ cesceceeseeeceeeenneseseasenss
`Education...........,
`Incapacity........
`teeeeenees
`seeeeasneneannansasseasauseenees
`ISSUC os .sessvsscscenssscsasseneassecoeceeceesaspeavavenseuseuususeusuusuuasessesssaceesseceasescasenevnas
`Legal Representative or Personal Representative ccc... ccccssccccececcesesceccasecee cossnsrserssrseastsusessuseustsstssseseeseseceeceseee
`Par StirP@s .i.ccccceecccsseessesserrereasenee
`deteseaees
`deeeneaseesaceeseneessenseeenaas
`Principal and IMCOME.,..cccesecesere
`PrONOUNS ANG GENEL. cece ssececcsesesesesensvssesssseausssssesassusssusesassatadsacsecsscesssssseuyeassavasesasaseuasasensavetasassverssersasscees
`Qualified Beneficiary oc. sesceesseceeesssssssestessssssseccesssessesesssecseevsassussessersesseraavseusssecaeavsusessusseasseceserenersaeuaversaeases
`Request in WIiting........ sees
`eae seeeadeecaeennerncnteanassaaearaenes
`
`
`SOttlOP. cesscesscsceeesceeseesessscseessnasavssssavsusasesssessueseassssasesesussscoascscsnsssscaavseseauceveasseseusteonssasenstatanavesseas
`Shall OF May... sseeeccscsssseseeveeceesssonsosseesatseessssassedescessaesescesssecesssereauaceeavsaveadutemssuscacsvavaasnerseavevees
`TYUSTEG veciccetesstessreerseenasssteeseeeeceee
`dene eeceaeateasaeeneseeneasanenasnvaesvenea
`deeeeeeeeneeeeeaneanesenessereaneesansasenasasenanas
`GOVELNING LOW. sesesesssssesescesesneccseesesecssesescssessuscsssosesesersteeesussinsavausenevausinsnssesssssssusssvsssteaucecscatsaccucuacaeas 6
`SPenAthrift RESECTION ooccssscccecccceccceccesescsenscseassnsecstsaceeacseecansavesesessssesssvassussessavsucevavesescersevevassasteateaeesss 6
`Maximum Duration Of Trusts ...cccccccccccsccscccssscssscsssssssssesssssssssssacersceusceusesscestenesssassasssesseasaateusnsasatssasnevens 6
`PFESUITIPLIONScre ceccsececernesnesnessssssusssuaecsscesseessesneeeeeaseeasaeaeassuuesedsuedeussessesssecssesseasaeateessersserscetevnsenauaeaaaeasas 7
`Special] DIStrIDUTIONS. occcccccccccccccescsscscescesssssressvauceusavausuvsusausuusavsssescsvsscessovsdutuaesacevsetaceevsacasenesesauseceusanses 7
`Conflict Resolution and Severability. ....csccsssscscessscesscessscsessceeasesseessssvesssecassensssevacessssansscevecescscnavavaraceaas 8
`Lineconomical AGMIMiStratin .o.cccccccccccccsceecsssssessssrsursesesersvevauseusesauseusecausescasessssssssssesvessucaneesansaneeecucatees 8
`
`
`
`ARTICLE Hl...
`
`nna naannaneneuaunararnneneenecenses sue sneneesueenensanaseesuasuesourturnerserasenarneresausensnesveneaseee pessueseeeeeetesseseasenseutense pug neneneeeers 8
`
`TRUSTEESHIP .sesssesesesssssevevesesessssssssuseecsssssesevevesseneneapeauseaseseseseeeaeasasaesenenesessssssssesssesesatarssarasaseseeeeseccacacaveuseasueseseuses &
`3.A.
`SUCCESSON TRUSCOES. .occccecceeceececneveaseveeraevesscvesssneusesuseessneusnesucesuecsssssuesersseessusssussenscenseaacnesnesisesnssguneguos &
`3.8,
`Appointment Of Trustee... ecccsesesssssssesscssesessssssssssessseesssssvsnssssssssssssesssssssuucsvessesssvessessavessaesessssneeatausaners 8
`3.0,
`RESIGIQTION ..csceeeeeeeceeecceenseesesenesasasacesaeusnscnsussscsassnasenassisessessessauasaesseessussnsersscnesinesiaesusessessecauacaeeeaeneas 9
`3.D.
`LACHEY oes ccesccescescccceeceeececeecesnensesssteeeeneeseusucsunsasusnsaussasauceseunsascesvsussssssvseeaveneuaneasuansareaavetececseeaseastaneess 9
`3.E.
`No Bored Required.......e.eeccceesssscsesetesersssssssscsnsecseacsusecanseeuassesecsasasasassessssarsseeacesscsasscseacenersonssesaaeasurans 9
`3.F.
`COMMPONSOEIOM . ciccc ccc cccsesscnesenecenecenessnassunsanesaesensssnsusnssssessesssessuessuasuencaracarsensceatessentesneessassuaseuasaass 9
`3G.
`FREPOUTS secceceeesesesenssssssssscssccssescsesnaeseaceneceasceesssadusnsssseaaessuaesuassuaseuesusenesensseusesasssasauasanesauacauasaracauaceesnsenss 9
`3.H.
`Payments to Beneficiries .....scesesesesevessscsssesnsecsescsssacsnssessacssssssasesasasectcsasaceeacenscsasscsensnesssavsataraceans 10
`The Ada Prieto Revocable Trust: Page 1
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`Buh.
`3.
`3.R,
`3.L,
`3.M,
`3.N.
`3.0.
`
`Division Of Trust EStOte....csssssssssssssscsssecscesescsesesescecscecesssavavscscesesesesssasdisessestscearseacarararaeseatavaveseseseness 10
`Trust@@ AUtHOTIEYoc. ececccccecesenesesesesesesesssasssasecscscscssssscsssssusssussssotssevstscesestsadesecececaeacacistenssusnensnmaenees 10
`Release of Healthcare information, including HIPAA AUthosity. ccsecssscssssssesessscsesesesesssecccccccsveceteceans i2
`LIFE IMSUTOICEse cecesesesesssscatecesssssssenssesesscasesenessssssssvsusscscsecavsusnvassusasatsusatstsavasessserestsasacavereatsesisereusanuesasens 42
`Retirement ACCOUNES oo.ciicseececcccccssessssesersssesseesessssessssvavscesssvsnssassscscacsevevauacsusavausesassussssssavacsesetasitecuavecs 12
`POWEFS OF IVGSION. sesesecesssesesesesesesssesesscorssevevevesavasasuavsvavassssssusssecasavavavarsesavavavavavasasssuatacavasasesscscsvevevenens 13
`Release Of POWELS......ecsecsssssssscsscsssssssssscecsscscnsvssucsesevarseevavauastavassisicsesecesacussvavvevavatavarsusavavavassasseuevece 13
`
`PARTICLE IV... sscccesesssnssessessecnsssnssnssueesensrssaeenacseeseessessesaesenssuraurssansasusausdessenssnarsarsaszasaacenseseuseuaruuususvaesapesssuestenuasuens 13
`
`TRUSTEE'S POWERS.....ssscscscccscecocscsesssstssssesesssncsceussessessscsecocsvsusnsausvavsusevsssssusieaansassasatarsecsesesevavstsesasserecsrsversavensusaee 13
`4A,
`AQIOCIMENIS. co ccsccessscsssscccssscnocnsnscaesesesssssensassuacscscssessesessssssaesunsueasscsasissssasssasstesescsacseacesssenenavatecussnssasaces 14
`4.8,
`ASSOC THC. oe scccsccscsssesecsssessssesessceacssacssssssssacscacacensscsseeuassesuuavausasassnsssicsasatassedusatsacacaseuesssevavecaveusssvavaveses 14
`4.0.
`Bark ACCOUNTS. occ ces cscscssssssssscasssssssssssssstescscscsenesesauansuasasasasaatsssssssesssssisasasacacacsvsesersivsasavavavavavevevassees i4
`4,D.
`COMEICES, crccccecesessssseseeccececcsesssssesusacseusessessssvsssuvscacsevscvacssvsevseguusasaugaaasacgavsesassucsscaesicsacaessesessauteagecuecs 14
`4.E.
`Deal with FIGUCIOFIOS. ecccccccccsccssesesenesesevseacenssessssvsssssssscsnsscavscssvacsessacsesecsvausesauacsusavatsatacatesssciatacevesenes 14
`4F.
`DEPFecigtion RESCKVE. ..cccccccececessessesesssssesesssacssessssssrsssssscsssssesssenevnssucsesaessustsansaususausauetsasssecseesssacsenseneess id
`4.6,
`Digital Assets and Electronic COMMUMICOTIONS. ...c.cccccccccccecesesesesessssssssscseseststnesesssstacacatacacsccecnsesnseseues 14
`4.H.
`Divisions and DiIStriDUtlons. .0..cccccceccscssecescescenescsasesusevaustessvsssavssssssscscscecsuecsansavsccsscaseceausausteansavssssscecess 15
`4d.
`IMGODLEMNESS. 0.ecesssssevesesetstessssssssssssecsscesanscsvscscscsescecececsesssesavasssusussecececespeatavavatisisrsvevseavssnessnnscs 15
`4.
`Heavest GN REINVESE. .... ec esccccsssssssssesessssssesscescscsesenerseesesvsssrevsvesssssucusesesensuarsevasestarseataratstavatuserenetereserses 45
`4K.
`LifO IMSUPONCE....cceccscssseseeesssstesssesseesserssesssecseescucneneeseasaussssssesatassssucsesecsssuatsissecarecsesesocsaceravavssenstasssasnses 45
`4.
`LOGS, cesccecssssescsccescsnceseesceaecauesetsesesessssasststasesacaeccacesevseesacaesrasausaavanasediaensdsacadsaceeesessecacersee¢eaviuesassinsass i5
`4.M.
`MGMage CG COMOcre cssesscssesesesscsssessesescsessseseavsciesesusasasaseseseeueseusssssussssstsssssscscecscscsnsensesuauanasanatasasavans 16
`4.N.
`Professional ASSIStANCE,
`...cccccccscssessssecesesesscscesesscssesacscaeacssvsvansesassesssnesssststsusssacsesecasaceuvscaveevavaususansnsavess 16
`4.0.
`PULCHOSE asec eceesecsssssnsvsesesavscscssssesssscassesesessavesacecsssucssseravsusasatansasavaesaavatssasstssacsesesacaceuvavaveevassusauavsusavave 16
`4.P.
`Qualification for Government BEMefits ...c..ecccsssesesessssseseresssssasscesesesesasessssssscsecarsesscstseseverseceeatensatectetes i6
`4.Q.
`RECEIVE ASSOES..... cs ccececcscensseseneeaseseesetesessesasesssaccscesscueyepecnspsevessassuunsansensdaasausaesssssasessesesaccaecaysessensaesnss i7
`4.R.
`Retention of Trust Property. oo... sscsssssvsesesevecssssssssnsssssssssssssssscscacsscseverssavausassvacsacatacgavsvanseassusssscaesscees 17
`4.§.
`Safe Deposit BOX. ..c.escessescccsccscsssseresestsesveesesscevavavevsvssssnsvsvscsssssecesscecavavassussansavavavavavavssnsatavavavavesssaseseeses i7
`4.7.
`SOCUIILIOS.
`.ecscscccecscsesneusetaseasveseseeeesecssescsssenasvacscuvsnseuvenseatesaasesavsessssvssssccccsseceecerssvsasavensensvaucaseautensasess 47
`4.U,
`TAX COMSCQUENCES. vcssscsscececcssesssssesesesnsnsssesssssesvansesssestscsesssscscsrsccecscescaceacosecscacssssarsssasarasauausvasessssessee 17
`AY.
`GEMerct] POWELS. cocceccesescecssesecessrsessscsssessnsscstscssseasssscscsesssessusccscssescccsevsvessesecesvatacsevesseneracsessersassevazacuneees 17
`
`ARTICLE V.......cccsccnsseussesnsnedsacosesseeeesnonsnessusessessusensenssnag ¢eeseduaencesuressusesususeneasanaeessnedsesrseseassenersensancnsesersuuceurrueres 18
`
`MY RETAINED POWERS... eessccseesescerssecsessssstsssssssvarscssassssccescscsscsccsveseravaceaevapacuaerarscessrassssasacseataracsesusasecsessseeees 18
`5A.
`FROVOCOUHON vee sccccsetccecccesesscscessesssatsesesseessccecscocserseneresererstsussanstscersrscuancessvacscceacenauscetaussasacenacseeesessense 18
`5.B.
`AMONGacces ceeeseecstecetsssenessearsessersssscnssssacsssssusssessccacoesesscearacneneaesessaatssssssnaravssassssisuavatssacessuarersens 18
`5.C.
`Powers Terminate On Death cccccscessscsssscscececsescsccesseserssesseaeevscnssraraussssssstaserscssevsssstaccesseserssesecseeeee 18
`3D,
`POWETS PEVSONG] LO MO ciececesscecceccscesesseseascsecscsccesenssrcescasereeesasatsesssesiususasstussssssesssssssessstscsedesseccesessesecseee 18
`5.E,
`Tangible Personal Property ....ccccccsscscssssctsecssscscsesessesesesescnssecseeecessanstatacesvinsssscacasssnassvsssesagisasesenenees 18
`5.F.
`Residential Property ...........cccceccccccceseseseseetetseseaesessaeaessstssstsssssusuecseesesesesesesesssssererereresarauacaceresnseseseseas 18
`
`ARTICLE VI.....ccccsscesssceeseeseeseeeneneessaneenaensgeuseusuesnazessenaasaasensaesensesuneeuseuaeesusenenseusensdessssaveuegeosusvarsussastasnensensessensessas 19
`
`6A.
`
`Trustee's BOSIC DULICS wo. cecccscscsccsecsssccssrsscsssssoceoseccascnecsveecscuacaceeceacnecueessaeatsuatassssrasssssssssssssstarsstsseseeeeeee 29
`Disposition During My Lifetime coccccccccccccccscsccescuseessrcessaseecsasasasseaseruceusasausessassscssvsccscsssacceseasaesuctsvaccerese 19
`6.8.
`Disposition During My InCepacity........ecceccssesesssssetesccsssescsssssesesasssusesaesensesssseaecauaessesseaeduaccsdeneeressesees 19
`6.0
`Deferral of Division or DiStribUtiOn ........ccccssesesssssscssssssssssesesssssesasseusesausensessssessececaedessstdentseessenserensenees i9
`6.D.
`Authorized Actions at My DeQthiciccccccscscssccssscoscsscescsscsseceserssscuscesceseesenesinsnssansaneaavaneeaseeaeaeeeasasaessas 20
`6.E,
`Distribution at My Death... ccceccccccccseeccssesessssessescesssseseeesseecscessesescevteeesesauacaseseensnvensnensassessasessessaees 21
`6.F,
`DAL epenenessesessssveveccseceneneesnesenssasaaeseseeeeensasseassssdesssssesasasduceasaccasacaecseyeyeneeseaueadeasauerevsuteneuesensdansansaavansaecesdeasatatauenacas i
`AFFIDAVIT 0... ccc eccceceesassataeceeseneeesanseesnasssssasseasssetaccessacaecssesecneenseccsvrsenscuaceeaeaeseasusgunsansansausensanenssanveseeaceeseaeerees 12
`
`THE ADA PRIETO REVOCABLE TRUST: Page 2
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`THE ADA PRIETO REVOCABLE TRUST
`
`THIS TRUST AGREEMENTis entered into by ADA PRIETO, (aka: Ada Fragoso Palacio), as
`Settlor, and ADA PRIETO,as Trustee. Forall purposes hereunder, the words “I,” “me,” “my,”
`“mine,” and similar pronouns, shall refer to Settlor, ADA PRIETO and shall be construed as the
`possessive when the context would so indicate.
`
`ARTICLE I
`
`RECITALS AND CONVEYANCE
`
`WHEREAS, I, ADA PRIETO,desire to establish a trust of which, during my lifetime, I am the
`sole life beneficiary and the exclusive recipient of the economic benefits;
`
`WHEREAS, this Trustshall be initially funded with the sum of TEN DOLLARS($10.00) in cash;
`such sum and any assets later added to the trust shall be known as the “trust estate” and shall be
`held, administered and distributed as provided in this document and any subsequent amendments
`to this document;
`
`NOW, THEREFORE,the Trustee acknowledges receipt of the trust estate and shall hold the same
`in trust under the following terms, conditions and provisions:
`
`ARTICLEII
`
`DECLARATIONS
`
`2.4
`
`Name. This trust shall be known as, THE ADA PRIETO REVOCABLE TRUST.
`
`Family. I am an unmarried woman. I have two adult daughters now living; namely,
`2.B.
`AYLING RODRIGUEZ and ADA PALACIO.
`
`Any child or children of mine born or adopted after the date of this Trust shall be treated
`as though such child or children was/were specifically named in this Paragraph 2.B.
`
`[have intentionally, and not as a result of any mistake or inadvertence, omitted in this Trust
`to provide for any other child of mine and/or the issue of such child, if any and however defined
`by law, presently living.
`
`Successor Trustees. If should cease to act as the Trustee for any reason (including either
`2.C.
`a court or physician declared incapacity as described in Paragraph 2.E.), I shall be succeeded by
`my daughter, AYLING RODRIGUEZ and my daughter, ADA PALACIO as successor co-
`Trustees. If either co-Trustee fails to qualify or ceases to act, the other shall act alone. While co-
`Trustees are acting, the signatures ofall co-Trustees shall be required to conduct business with
`THE ADA PRIETO REVOCABLE TRUST:Page3
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`respect to property and/or assets held or owned by the Trust; provided however, co-Trustees may
`open a checking account for the trust whichprovides for single signature authority.
`
`2.D. Trust Estate. I, and/or any other person, may addto the principalofthe trust by deed, will,
`or otherwise.
`
`2.E.
`
`Definitions. For any interpretation of this Trust, the following definitions shall apply:
`
`Beneficiary. “Beneficiary” or “beneficiaries” means any person and/or entity then
`(1)
`eligible to receive current income or whoserightto receive assets from thetrustis currently
`vested;
`
`Cease to Act. “Cease to act” means the resignation, death,
`(2)
`disappearance of a Trustee;
`
`incapacity or
`
`Code, “Code”refers to The Internal Revenue Code(as separately published as Title
`(3)
`26 of the U.S. Code), as amended, and to any regulations pertaining to the referenced
`sections;
`
`Descendants. “Descendants” includes a person’s
`(4)
`generations;
`
`lineal descendants of all
`
`Disappearance. “Disappearance” means an individual’s whereabouts remains
`(5)
`unknown for a period of sixty (60) days. If any beneficiary (including me)is not seen or
`heard of for a period of one year and no physical remains or body has been recovered,it is
`presumed that such beneficiary is not alive;
`
`Education, “Education” or “educational purposes”includes any courseof study or
`(6)
`instruction which may, in the Trustee’s discretion, be useful in preparing a beneficiary for
`any vocation consistent with the beneficiary’s abilities and interests. Distributions for
`education may include tuition, fees, books, supplies, living expenses, travel and spending
`money to the extent that they are reasonable and necessary, again in the Trustee’s
`discretion;
`
`(7)
`
`Incapacity.
`
`(a)
`
`(b)
`
`(c)
`
`In the case of a question or dispute, a Trustee’s incapacity (whether the
`Trustee is me or a successor) is evidenced by written certification oftwo (2)
`physicians that the Trustee is unable to effectively manage his or her own
`property or financial affairs, whether as a result of age, illness, use of
`prescription medications, drugs or other substances, or any other cause;
`
`If there is no question or dispute, a Trustee’s incapacity is established by
`the written declaration of only one doctor;
`
`An individual is deemed incapacitated if a court of competent jurisdiction
`has declared the individual to be incompetentor legally incapacitated. If an
`
`THE ADA PRIETO REVOCABLE TRUST:Page 4
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`the court making such determination valid
`fails to grant
`individual
`authorization to disclose such individual’s protected health information
`under any applicable federal and/or state statute, or if such individual
`subsequently revokes such authority,
`the individual shall be deemed
`incapacitated; and,
`
`(d)
`
`An individual is deemed restored to capacity whenever the individual’s
`personal or attending physician provides a written opinion that
`the
`individual
`is able to effectively manage his or her own property and
`financial affairs and such individual may then resume the position of
`Trustee or co-Trustee held immediately prior to the incapacitation;
`
`Issue. “Issue” refers to lineal descendants of all degrees and includes adopted
`(8)
`persons; provided however, that such term shall refer only to the issue of lawful marriages
`and to children born outside of a lawful marriage only if a parent/child relationship (as
`determined underFlorida law) existed between such child andhis or her parent, living or
`deceased, who was a beneficiary hereunder. A child in gestation which is later born alive
`and survivesfor thirty (30) days shall be consideredas issue in being throughoutthe period
`of gestation;
`
`Legal Representative or Personal Representative. “Legal representative” or
`(9)
`“personal
`representative” shall mean a person’s guardian, conservator, executor,
`administrator, trustee, or any other personor entity personally representing a person or the
`person’s estate;
`
`Per Stirpes. Whenever a distribution is to be made “perstirpes,” the assets are to
`(10)
`be divided into as many sharesas there are then-living children and deceased children who
`left living descendants. Eachliving child shall receive one share and each deceased child’s
`share shall be divided among such deceased child’s then-living descendants in the same
`manner;
`
`Principal and Income. The determination by the Trustee in all matters as to what
`(11)
`shall constitute principal ofthe trust, gross income therefrom and distributable net income
`under the terms of the trust shall be governed by the provisions of the Principal and Income
`Act of the State of Florida, except as to any of such matters as may otherwise be provided
`for in this instrument. In the event and to the extent that any of such matters relating to
`what constitutes principal or income of the trust and in the allocation of receipts and
`disbursements between these accounts is not provided for either in this Trust or in such
`Principal and Income Act, the Trustee has full power and authority to determine such
`matters;
`
`Pronouns and Gender. The feminine, masculine or neuter gender, and the singular
`(12)
`or plural number, is deemed to include the others wheneverthe context so indicates;
`
`(13) Qualified Beneficiary. “Qualified Beneficiary” mean any person and/or entity then
`eligible to receive current income or whoseright to receive assets from thetrust is currently
`
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`vested as well as those who could receive distributions after termination ofthe interests of
`current beneficiaries;
`
`Request in Writing. When I am acting as the Trustee or as a co-Trustee, the
`(14)
`requirementof a writing to be signed by me as a Settlor and/or a beneficiary and delivered
`to me as the Trustee is waived;
`
`legal meaning as
`the same
`Settlor. “Settlor’ has
`(15)
`“Trustmaker,” or any other term referring to the makerofa trust;
`
`“Grantor,” “Trustor,”
`
`Shall or May. Unless otherwise specifically provided in this agreement or by the
`(16)
`context in which used, I use the word “shall” in this Trust to command, direct or require,
`and the word “may”to allow or permit, but not require. In the context of the Trustee, when
`T use the word “may” J intend that the Trustee may act in the Trustee’s sole and absolute
`discretion unless otherwise stated in this Trust; and,
`
`Trustee. Any reference to “Trustee” shall be deemed to refer to whichever
`(17)
`individual, individuals (including myself) or corporation is then acting as the Trustee.
`
`2.F. Governing Law. This Trust is intended to create a Florida trust and all the terms and
`provisions hereof shall be interpreted accordingto the Florida Trust Code (Title XLII, Chapter 736
`ofthe Florida Statutes) and the lawsofthe State of Florida, exceptas shall be specifically modified
`herein. Nevertheless, the Trustee may change the situs of administration of the trust from one
`Jurisdiction to another, thereby allowing this Trust to be regulated and governed by the laws of
`another jurisdiction. Such action may be taken for any purpose the Trustee deems appropriate
`including minimization of taxes.
`
`2.G. Restrictions. The interest of any beneficiary (whether entitled to current income or
`possessing only a future interest) in either the incomeorprincipalofthe trust or any part ofit shall
`not be alienated or in any other mannerassigned or transferred by such beneficiary; and such
`interest shall be exempt from execution, attachment and other legal process which may be
`instituted by or on behalf of any creditor or assignee of such beneficiary; nor shall any part of such
`interest be liable for the debts or obligations (including spousal and/or child support, except as
`required under Florida law) of any such beneficiary, This paragraph is intended to impose a
`“Spendthrift Trust” onall interests held for any beneficiary. The rights of beneficiaries to withdraw
`trust property are personal and may not be exercised by a legal representative, attorney-in-fact, or
`others. IT IS MY INTENT THAT THE PRECEDING SPENDTHRIFT CLAUSE AND THE
`PROTECTIONS IT PROVIDES BE CONSIDERED A MATERIAL PURPOSE OF THIS
`TRUST AND ANY SUBSEQUENT TRUST CREATED HEREUNDER.
`
`2.H. Maximum Duration of Trusts. Regardless of any other provision herein, the maximum
`duration for any trust created hereunder is the longest period that property may be held in trust
`under the applicable statutes of the state then governing the situs of administration of this Trust.
`If, under those rules, such maximum duration of a trust must be determined (oralternatively
`determined) with reference to the death of the last survivor of a group ofindividuals alive upon
`my death, or at such other time that the application of such rules limiting the duration of a trust is
`deemed to begin, those individuals shall consist of all beneficiaries (including future and/or
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`contingent) of this Trust (as hereinafter named) alive at my death. Any trust created hereunder
`must end immediately prior to such maximum duration and, thereupon, the Trustee shail pay over
`the principal, free from suchtrust, to the person or persons then entitled to receive the net income.
`
`Presumptions. Any beneficiary who shall not be living thirty (30) days after my death
`2.1.
`shall be deemednotto have survived me.
`
`Special Distributions, If any income and/or principal of any trust hereunder ever vests
`2.J.
`outright under the provisionsofthis Trust in a person notyet eighteen (18), or a person who suffers
`from substance abuse, or a person who the Trustee determinesis incapacitated, or a person whose
`financial circumstances are such that failure to delay distributions will actually reduce the trust
`benefits to such person, then the Trustee, in the Trustee’s discretion and without supervision of
`any court, shall hold or distribute such property (subsequently referred to in this Paragraph as the
`“protected property”) in accordance with the following provisions:
`
`The Trustee may hold any protected property in a separate trust for each such
`(1)
`beneficiary, exercising as the Trustee of suchtrustall the administrative powers conferred
`in this Trust. The Trustee may accumulate or distribute to or for such beneficiary in
`accordance with subparagraph (2), as hereinbelow set forth, such amount or amounts of
`income and/or principalofthe trust as the Trustee determines from time to time during the
`term of the trust to be appropriate. This separate trust shall terminate and vest absolutely
`when:(a) the beneficiary attains age eighteen (18) and the beneficiary’s age was the basis
`for the separate trust; (b) the beneficiary dies; (c) the trust assets are exhausted by
`discretionary distributions; or, (d) the reason for the separate trust no longer exists in the
`Trustee’s discretion. At such termination, the Trustee shall distribute the protected property
`then on hand intrust to the beneficiary or to the beneficiary’s estate if the trust terminated
`at the beneficiary’s death.
`
`The Trustee may distribute any protected property to or for the benefit of such
`(2)
`beneficiary: (a) directly to the beneficiary; (b) on behalf of the beneficiary for the
`beneficiary's exclusive benefit; (c) to any account in a bank, credit union, mutual fund
`and/or brokerage firm either in the name of such beneficiary or in a form reservingtitle,
`management and custody of such account to a suitable person for the use of such
`beneficiary for the maximum period permitted by the Florida Uniform Transfers to Minors
`Act; (d) in any form of an annuity; and, (e) in all ways provided by law dealing with gifts
`or distributions to or for minors or persons under incapacity. The receipt for distributions
`by any such person shall fully discharge the Trustee.
`
`In determining whether to make distributions, the Trustee may consider other
`(3)
`resources of the beneficiary, any governmental entitlements and the future needs of the
`beneficiary during the term of the trust. The protected property shall, at all times, remain
`free of all claims by any governmental agency and/or creditors of the beneficiary.
`
`Notwithstanding the provisions of the preceding subparagraphs or any other
`(4)
`provision of this Agreement, the Trustee shall not suspend any mandatory distributions
`requiredfor a trust to qualify, in wholeor in part, for any Federalor state marital deduction
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`or charitable deduction or characterization as a “conduit trust” (as hereinafter defined in
`the Paragraph entitled “Retirement Accounts”). Finally, nothing herein shall prevent a
`distribution mandated by the provisions hereinabove set forth relating to the Maximum
`Duration of Trusts.
`
`Conflict Resolution and Severability. In order to save the cost of court proceedings and
`2.K.
`promote the prompt andfinal resolution of any dispute with regard to the interpretation ofthis
`Trust or the administration or distribution of this Trust, I direct that any such dispute shall be
`settled by arbitration administered by the American Arbitration Association underits Arbitration
`Rules for Wills and Trusts then in effect. Nevertheless, the following matters shall not be arbitral:
`(1) questions regarding my competency; or (2) attempts to remove a fiduciary. In addition,
`arbitration may be waivedbyall suijuris parties in interest.
`
`The arbitrator(s) shall be a practicing lawyer licensed to practice law in the State of Florida
`(or such other state whose laws then govern this Trust) and whose practice has been devoted
`primarily to wills and trusts for at least ten (10) years. The arbitrator(s) shall apply the substantive
`law (and the law of remedies, if applicable) ofthe State of Florida (or such other state whose laws
`then govern this Trust). The arbitrator’s decision may not be appealed to any court, but shall be
`final and binding on anyand all persons who have or may have aninterest in this Trust, including
`unborn or incapacitated persons, such as minors or any person for whom a guardian has been
`appointed or any other protective order has been made.
`
`Further, if any provision of this Trust is invalid, that provision shall be disregarded, and
`the remainder of this Trust shall be construed as if the invalid provision had not been included.
`
`2.L. Uneconomical Administration. No other provision of this Trust to the contrary, if at any
`time a share or trust being administered for any income beneficiary or group of income
`beneficiaries has such fair market value as to make the continued administration of the share or
`trust uneconomical as determinedby the Trustee, in the Trustee’s sole discretion, the Trustee may
`pay the entire balance of such share ortrust to the person or persons then entitled to the income
`therefrom andto the person or persons(if different persons from the incomeinterests) then entitled
`the remainderinterest thereof, in proportion to their interests therein.
`
`ARTICLE tI
`
`TRUSTEESHIP
`
`Successor Trustees. I may appoint individuals or corporations as co-Trustees or successor
`3.A.
`Trustees by a written instrument (other than a Will) delivered to the then-acting Trustee. If I am
`incapacitated, the person who J have nominated to serve as successor Trustee may designatehis or
`her successor, if there is no named successorto that successor Trustee orif the person designated
`as his or her successor is unable or unwilling to serve.
`
`3.B. Appointment of Trustee. If there is no Trustee acting hereunder, then a majority of the
`adult beneficiaries shall appoint a successor Trustee or co-Trustees by an instrument in writing,
`which appointment must be effective upon the date the last Trustee fails to qualify or ceasesto act;
`provided however, if the Trustee whois being replaced wasnot related or subordinate (within the
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`meaning of §672(c) of the Code) to the beneficiaries holding this power to appoint, the powerto
`appoint a new Trustee or co-Trustees shall be limited to the appointment of a Trustee (or of co-
`Trustees) whois also not related or subordinate (within the meaning of §672(c) ofthe Code) to the
`beneficiaries holding this power to appoint. For purposes of this Paragraph, “beneficiaries” shall
`exclude charitable organizations.
`
`Resignation. Any Trustee may resign at any time by giving written notice to me, if I am
`3.C.
`then living, and thereafter to the other Trustees, if any, and, if not, to all the beneficiaries, Any
`such notice shall becomeeffective as agreed by meor the majority of the beneficiaries, but no later
`than thirty (30) days after such written notice. Notwithstandingthe foregoing, the Trustee may, at
`the expense of any trust created hereunder, secure the appointmentof a successorTrustee of such
`trust by a court of competent jurisdiction.
`
`Liability. No successor Trustee shall be under any obligation to examine the accounts of
`3.D.
`any prior trustee, and a successor Trustee shall be exonerated from allliability arising from any
`prior Trustee's acts or negligence. It is my intention that any Trustee serving hereundershall be
`accountable only from the date such Trustee receivesthe assets ofthe trust.
`
`No Bond Required. No bond shall be required of any person or institution named, or
`