COM 0742.000 2020-2022 - Laserfiche WebLink

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g • contrary. an trust created herein shall terminatte no later than the hirer of 90 Years after creation of this Trust or tvvcnty-orae(21) years after the death of the last to survive of the Settlor. the Senior's spouse. the Settlor's children and the issue of the Settlor living at the time of the creation of this trust aereement. - i 7.5. Personal Residence. finny interest of Settlor in the personal residence of Senior in the Family Trust.the Trustee m aav allow one of Soiloie children to use said residence without payment of any rent. btu the f rust;: rimy require said beneficiary to pay for insurance. electricity, utilities,real proper1 . l i s and for repair and maintenance of said residence and an, mortgage that act .i?t.'? be+tri ..ilii.i tes.ideuce. lfTrustee determines. in the Trustee's s sok diser,tiol , that it is impiactie i to retain the residence in the Trust or that it is in the hest interest of the Feneticiary gat ihy: Trust to Sell said residence_ then the Trustee nia;. do so: provided, that the Vrtivtcv shall consult \yitll the I?'ne iciari ; (or their cuardians or parents as the case may he) prior in listing the residence for sale. 1 he Trustee shall also consult with a real estate professional with respect ti the listing price and terms of sale il'the residence is to be sold. Generation Skipping Tax Fxemnlion and Payment of Generation Skipping Tax and € dural .State and Forcigia I st itc_,_lt)hiiiPtailcl.ittltt Peat!) T 1`ti_'s. 1 f5.i. Generattion S,kippii ' fax xcnlptiun. Settlor, in Seniors Will. has instructed the personal representative to allocate Senior's Available Generation Skipping k \ "lax exemption to the extent that Senior has not already allocated it under the itosss relailn(_' to (itineratiofl Skipping Taut:and to consult with I rusiec before i1laking such 1 allocation. if no personal representative has been ul:mpoimited, Trustee will make the allocation srra e?;lac; rills ,.ci,tr i qC