Dispositive Configurations

• Author: Jerold I. Horn
• Profession: Lawyer
• Pages: 183-194

183

PART ON E

ARR ANGEMENTS FOR PRESENT BENEFIT

OF MORE THAN ONE PERSON

I. GENERAL CHAR ACTERISTICS

A purpose of a trust that is to benet more than one person at a time, over a period of

time, is to hold the property together for tax, management, or dispositive reasons. The

creator of the trust must determine whether a payment to a beneciary shall require a

payment to one or more others and whether to treat a distribution as an advance against

the share that the distributee (or the one or more persons taking through the distribu-

tee) ultimately will take.

II. FORM 6.1: “POT” TRUST UN TIL YOUNGEST

CHI LD ATTA INS CERTAIN AGE

Until no living child of mine is under twenty-one years of age, the Trustee

shall pay to any one or more of my children, without any duty of equaliza-

tion, so much or all, if any, of the trust estate as the

a [Trustee determines to be necessary or advisable from time to time, consid-

ering resources otherwise available, to provide for their respective health,

education and support in the manner of living to which accustomed.]

b [Independent Trustee in its sole and absolute discretion determines to be advis

-

able from time to time, considering or not considering resources otherwise

available, for any purpose or reason whatsoever, including the termination

of the trust.]

Upon the later to occur of (i) the date on which no living child of mine is

under twenty-one years of age and (ii) the death of the survivor of my wife

and me, the Trustee shall divide the trust estate. . . .

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Dispositive Congurations