Trust for Spouse and Issue Sample Clauses

Trust for Spouse and Issue. The Trustee may pay any part or all of the net income of the Family Trust to or for the benefit of any one or more of a group composed of Xxxxxxx's spouse, Xxxxxxx's children and the issue of Grantor's children, in such proportions and amounts and at such times as shall be determined, in the Trustee's discretion. Any undistributed income shall be accumulated and added to principal. The Trustee may also pay so much of the principal of the Family Trust to or for the benefit of any one or more of a group composed of Xxxxxxx's spouse, Xxxxxxx's children and the issue of Grantor's children, in such proportions and amounts and at such times as shall be deemed necessary, in the Trustee's discretion, to provide for their respective health, support and maintenance (and additionally, in the case of children and the issue of children, to continue education, including college, graduate and professional school). In making any distribution decision, the Trustee shall take into consideration the other resources available to any such beneficiary, but the extent to which such other resources must first be used shall be determined by the Trustee in the Trustee's discretion. Notwithstanding the foregoing, except for compelling reasons satisfactory to the Trustee, no principal payment shall be made from the Family Trust to or for the benefit of Grantor's spouse until the entire principal of the Marital Trust shall have been completely distributed.
AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.