Fill and Sign the Testamentary Trust Provision with Stock to Held in Trust for Grandchild and No Distributions to Be Made until a Certain Age is Form

Testamentary Trust Provision with Stock to Held in Trust for Grandchild and no Distributions to be Made until a Certain Age is Reached I. I give, devise and bequeath unto my granddaughter, ________________________ __________________ (name of granddaughter) ________ (number) shares of __________________________ (common or preferred) stock in ___________________ ________________________________________ (name of company) , a corporation organized and existing under the laws of the state of ____________________________ (name of state) , provided, however, said stock shall be held in trust by _______________ ________________________ (name of trustee) of _______________________________ ________________________________________________________________________ (street address, city, county, state, zip code) . Said Trustee shall invest all dividends generated by said stock, and no distribution shall be made to my granddaughter of any part of the corpus or income of said Trust until she becomes fifty (50) years of age. Notwithstanding the foregoing, if the provisions of this trust shall violate the rule against perpetuities , then such trust shall terminate, if it has not previously terminated, twenty (20) years after my death at which time all of the corpus and income of said trust shall be transferred to my granddaughter, _______________________________________ (name of granddaughter) . If _________________________________________ (name of granddaughter) dies before the termination of this trust, then the corpus and income of said trust shall be transferred to my surviving grandchildren _______________________ ________________________________________________________________________ (names of grandchildren) twenty (20) years after my death. If any of said grandchildren shall predecease ____________________________________ (name of granddaughter) , or not be living at the time of the termination of the trust, then that grandchild’s share shall pass to the surviving grandchildren. II. The Trustee shall have full power and authority to invest and reinvest the stock dividends and income derived therefrom in such manner and upon such terms and conditions as the Trustee may see fit; to pay taxes of every kind existing against the trust property; and to do all other acts which, in the judgment of the Trustee, may be neces sary or appropriate for the proper and advantageous manage ment, investment and distribution of the trust estate to the same extent as though it were the sole owner of the trust property. In addition, the Trustee shall have all of the powers granted by the "Uniform Trustees' Powers Act," being __________________________________________ (Cite Statutes of State) as now enacted or hereafter amended, reference to which statutes is hereby made for all pur poses. III. Neither the principal nor the income of the Trust fund, nor any part of same, shall be liable for the debts of any bene ficiary hereunder, nor shall the same be subject to seizure by any creditor of any beneficiary hereunder, and no beneficiary hereunder shall have any power to sell, assign, transfer, or in any manner to anticipate or dispose of her interest in the Trust fund, or any part of same, or the income produced from said fund or any part of same. IV. The trust hereinbefore created is a private trust, and the Trustee shall not be required to obtain the order or approval of any court for the exercise of any power or discretion herein given. The Trustee is hereby authorized to receive and retain for its services in administering the trust reasonable fees and compen sation in accordance with that which is customarily and generally charged for performing trust services of the nature involved in said trust. The Trustee shall not be required to enter into any bond as Trustee, nor shall it be required to return to any court any periodic formal accounting of its administration of the trust, but the Trustee shall render annual accounts to my said Granddaughter. No person paying money or delivering property to the Trustee shall be required to see to its application. V. If _________________________________________ (name of trustee) shall be unable or unwilling to continue serving, then ___________________________________ (name of successor trustee) of ______________________________________________ ________________________________________________________________________ (street address, city, county, state, zip code) shall have the right to become the Trustee of this trust . Any Trustee may resign by giving written notice specifying the effective date of the resignation to the designated successor Trustee.