Common use of Survivorship/Presumption Clause in Contracts

Survivorship/Presumption. If the Settlor and the Settlor's spouse shall die under such circumstances that there is not sufficient evidence to determine the order of their deaths, then it shall be conclusively presumed that the Settlor's spouse survived the Settlor solely for the purpose of receiving from this Trust that part of which, when deducted from the Settlor's estate and added to the estate of the Settlor's spouse, as it exists at the time of their deaths, would make their net taxable estates, for federal tax purposes, as nearly equal as possible. All the other property which the Settlor may own at the time of the Settlor's death shall pass as otherwise provided in this Trust Agreement as if the Settlor's spouse predeceased the Settlor; and this Trust Agreement shall be administered and distributed, in all respects, in accordance with such presumption. If the Settlor shall die within sixty (60) days of any other person mentioned in this Trust Agreement, it shall be conclusively presumed that the Settlor survived such other person and this Trust Agreement shall be administered and distributed, in all respects, in accordance with such presumption.

Survivorship/Presumption. If the Settlor and the Settlor's spouse shall die under such circumstances that there is not sufficient evidence to determine the order of their deaths, then it shall be conclusively presumed that the Settlor's spouse survived the Settlor solely for the purpose of receiving from this Trust that part of which, when deducted from the Settlor's estate and added to the estate of the Settlor's spouse, as it exists at the time of their deaths, would make their net taxable estates, for federal tax purposes, as nearly equal as possible. All the other property which the Settlor may own at the time of the Settlor's death shall pass as otherwise provided in this Trust Agreement as if the Settlor's spouse predeceased the Settlor; and this Trust Agreement shall be administered and distributed, in all respects, in accordance with such presumption. If the Settlor shall die under said circumstances within sixty (60) days of any other person mentioned in this Trust Agreement, it shall be conclusively presumed that the Settlor survived such other person and this Trust Agreement shall be administered and distributed, in all respects, in accordance with such presumption.