Common use of Distribution of Remainder Upon Termination of Beneficiary’s IBA Clause in Contracts

Distribution of Remainder Upon Termination of Beneficiary’s IBA. a. Termination after the Death of a Beneficiary. A Trust Beneficiary’s IBA may only be terminated upon the death of a Trust Beneficiary. Upon the death of a Trust Beneficiary, verified by a copy of the deceased Beneficiary’s death certificate, any amounts remaining in a deceased Beneficiary’s IBA shall be distributed under one of the following options: a) for the direct or indirect benefit of other Beneficiaries; b) to add disabled persons, as defined in 42 U.S.C. §1382c(a)(3), to the Trust as Beneficiaries; c) to provide disabled persons, as defined in 42 U.S. C. §1382c(a)(3), with equipment, medication, education or other services deemed suitable for such persons by the Trustee; d) to provide disabled persons, as defined in 42 U.S. C. §1382c(a)(3), with professional guardianship services. THE BALANCE OF THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK. 🞎 % (Minimum of Ten Percent (10%)) shall be retained by the Trust as surplus Trust property and administered and distributed by the Trustee in its sole and absolute discretion in accord with the following provisions: a) for the direct or indirect benefit of other Beneficiaries. b) to add disabled persons, as defined in 42 U.S.C. §1382c(a)(3), to the Trust as Beneficiaries; c) to provide disabled persons, as defined in 42 U.S. C. §1382c(a)(3), with equipment, medication, education or other services deemed suitable for such persons by the Trustee; d) to provide disabled persons, as defined in 42 U.S. C. §1382c(a)(3), with professional guardianship services. Any assets remaining in the Beneficiary’s IBA shall, after payments as provided in Article 6, Section 6.2 of the Master Trust, be distributed to the Final Remainder Beneficiaries named in paragraph 8.b., below.

Distribution of Remainder Upon Termination of Beneficiary’s IBA. a. Termination after the Death of a Beneficiary. A Trust Beneficiary’s IBA may only be terminated upon the death of a Trust Beneficiary. Upon the death of a Trust Beneficiary, verified by a copy of the deceased Beneficiary’s death certificate, any amounts remaining in a deceased Beneficiary’s IBA shall be distributed under one of the following options: a) for the direct or indirect benefit of other Beneficiaries; b) to add disabled persons, as defined in 42 U.S.C. §1382c(a)(3), to the Trust as Beneficiaries; c) to provide disabled persons, as defined in 42 U.S. C. §1382c(a)(3), with equipment, medication, education or other services deemed suitable for such persons by the Trustee; d) to provide disabled persons, as defined in 42 U.S. C. §1382c(a)(3), with professional guardianship services. THE BALANCE OF THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK. 🞎 % (Minimum of Ten Percent (10%)) shall be retained by the Trust as surplus Trust property and administered and distributed by the Trustee in its sole and absolute discretion in accord with the following provisions: a) for the direct or indirect benefit of other Beneficiaries. b) to add disabled persons, as defined in 42 U.S.C. §1382c(a)(3), to the Trust as Beneficiaries; c) to provide disabled persons, as defined in 42 U.S. C. §1382c(a)(3), with equipment, medication, education or other services deemed suitable for such persons by the Trustee; d) to provide disabled persons, as defined in 42 U.S. C. §1382c(a)(3), with professional guardianship services. Any assets remaining in the Beneficiary’s IBA shall, after payments as provided in Article 6, Section 6.2 of the Master Trust, be distributed to the Final Remainder Beneficiaries named in paragraph 8.b., below.

Distribution of Remainder Upon Termination of Beneficiary’s IBA. a. Termination after the Death of a Beneficiary. A Trust Beneficiary’s IBA may only be terminated upon the death of a Trust Beneficiary. Upon the death of a Trust Beneficiary, verified by a copy of the deceased Beneficiary’s death certificate, any amounts remaining that will remain in a deceased Beneficiary’s IBA shall be distributed under one of the following options:: 🞎 One hundred percent (100%) shall be retained by the Trust as surplus Trust property and administered and distributed by the Trustee in its sole and absolute discretion in accord with the following provisions. a) for the direct or indirect benefit of other Beneficiaries; b) to add disabled persons, as defined in 42 U.S.C. §1382c(a)(3), ) to the Trust as Beneficiaries; c) to provide disabled persons, as defined in 42 U.S. C. §1382c(a)(3), with equipment, medication, education or other services deemed suitable for such persons by the Trustee; d) to provide disabled persons, as defined in 42 U.S. C. §1382c(a)(3), ) with professional guardianship services. THE BALANCE OF THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK. 🞎 % (Minimum of Ten Percent (10%)) shall be retained by the Trust as surplus Trust property and administered and distributedand distributed by the Trustee in its sole and absolute discretion in accord with the following provisions: ea) for the direct or indirect benefit of other Beneficiaries. fb) to add disabled persons, as defined in 42 U.S.C. §1382c(a)(3),) to the Trust as Beneficiaries; gc) to provide disabled persons, as defined in 42 U.S. C. §1382c(a)(3), with equipment, medication, education or other services deemed suitable for such persons by the Trustee; hd) to provide disabled persons, as defined in 42 U.S. C. §1382c(a)(3),) with professional guardianship services. Any assets remaining in the Beneficiary’s IBAnot retained as surplus Trust property shall, after payments as provided inparagraph 12.b., below, which are made pursuant to Article 6, Section 6.26.2(c) and (d) of the Master Trust, be distributed to the Final Remainder Beneficiaries named in paragraph 8.12.cb., below.