Probate, Estate Planning & Trust Section - South Carolina Bar ...

c. Upon the death of Joe Smith, the Trustee shall distribute the balance of the trust in equal
separate shares to Jane Brown, Horace Smith and Larry Smith, or to the survivor of
them.
d. If neither Jane Brown, Horace Smith nor Larry Smith is living at the death of Joe Smith,
the trustee shall distribute the trust to the children of George Smith in equal shares, the
issue of a deceased child taking his or her parent’s share per stirpes.
(5) Guy Smith shall serve as trustee of said trust. If Guy Smith is unable to serve or continue to
serve then the successor trustee shall be Harry Smith, or a person appointed by Guy Smith
and/or Harry Smith.
(6) The Personal Representative and Trustee shall have all statutory powers granted to Personal
Representatives and Trustees under South Carolina law. The Personal Representative and
Trustee are specifically authorized and empowered with respect to any property, real or personal:
to allot, allocate between principal and income, assign, borrow, buy, care for, collect, compromise
claims, contract with respect to, convey, convert, deal with, dispose of, invest, lease, manage,
mortgage, grant and exercise options with respect to, take possession of, pledge, receive,
release, repair, sell, sue for, make distributions or divisions in cash or in kind or partly in each
without regard to the income tax basis of such asset, and in general, to exercise all the powers in
the management of my Estate which any individual could exercise in the management of similar
property owned in his or her own right, upon such terms and conditions as the Personal
Representative and Trustee may deem best, and to execute and deliver any and all instruments
and to do all acts which the Personal Representative and Trustee may deem proper or necessary
to carry out the settlement of the estate of the Trust for Joe Smith, without being limited in any
way by the specific grants of power made, and without the necessity of a court order.
(7) Joe Smith shall not be authorized to assign, pledge, encumber, sell or transfer in any manner the
house or other assets of the trust. The trustee shall not be liable for, or subject to, the debts,
contracts, obligations, liabilities or torts of Joe Smith because he has served as trustee of said
trust.
This private Agreement has been executed the ____ day of __________, 2009.
Witnesses:
_____________________________
______________________________
Guy Smith
_____________________________
The State of South Carolina
County of Richland
Subscribed, sworn to, and acknowledged before me by Guy Smith, an heir of George Smith, and
subscribed and sworn to before me by ________________________________, witness, this the _____
day of ___________, 2009.
_____________________________(Seal)
Notary Public for South Carolina
My Commission Expires: __________
Page 13 of 19