Common use of Life of the Grantor Clause in Contracts

Life of the Grantor. During the life of the Grantor, the Trustee shall hold, manage, and administer the Trust Estate and at the Grantor’s request, dispose of the net income and principal. In the absence of any such request, the Trustee may pay to the benefit of the Grantor any part of the net income and principal as the Trustee deems advisable, with full power to accumulate any income not paid and to hold such income and property for later use. In the event of the Grantor becomes incapacitated, the Trustee is authorized to use any part or all of the net income and principal for the benefit of the Grantor as the Trustee deems advisable, with full power to accumulate any income not paid and to hold for future use or to add to the principal.

Life of the Grantor. During the life of the Grantor, the Trustee shall hold, manage, and administer the Trust Estate trust property and at the Grantor’s request, dispose of the net income and principal. In the absence of any such request, the Trustee may pay to the benefit of the Grantor any part of the net income and principal as the Trustee deems advisable, with full power to accumulate any income not paid and to hold such income and property for later use. In the event of the Grantor becomes incapacitatedincompetent, the Trustee is authorized to use any part or all of the net income and principal for the benefit of the Grantor as the Trustee deems advisable, with full power to accumulate any income not paid and to hold for future use or to add to the principal.