The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1914-12-08
Viii Of TheIma Parker Smart,
Read After Funeral, Bomb
shell To Blood Kin
HUSBAND AND HUSBANDS
RELATIVES ONLY NAMED
Provisions Of Trust Deed Hold
During Mothers LiIe-Smart
Sure Of 5000 a month
tltfnm snnday Advertiser. }

II0lu 1uuudf -AuNtiAAN'fsI
The viii Of the late Mrs. daiIiard
Smart was read at her former home
at wainea last week, following the
interment Of her ashes. Practically her
entire estate, valued at approximately
two million dollars, is left to her hus-
hand. Relatives Of Mr.. Smart also are
remembered BY requests ranging from
one thousand dolas to Eve thousand
dollars.
Mrs. smart : blood relatiyes, includ-
ing her mother, are not mentioned in
the document. Neither is her surviv'
ing SON.
The win, II is understood, was cxe-
tuted last January, having been drawn
at the request Of Mrs. Smart by Ffank
r. Thompson. The instrument Is TO By
filed for probate at once.
II could not be learned definitely
yesterday whether relatives Of Mrs.
Smart not mentioned In the will are
TO file contest, but II is reported that
such action Is probable.
A. w. Carter, trustee of tho vast
estate, when Interviewed last night,
had no statement TO make except that
he was present when the will was read
and that il probably viii be fled at
once.
trustee HAS run Power
Mr.. Carter was appointed trustee OF
the estate soon after the death of Mrs.
Smart 3 father. When she. reached her
majority, about two years ago, the
property passed into her full control,
bnt soon afterward she asked Mr.. Car
ter TO again assume trnsteeship Of the
estate undcr q trust deed, the forms OF
which are that the estate Is to remain
in trust during the lifetime Of her.
mother, Mrs. Elizabeth J. Knight.
The deed Of trust, fled April 20,
1D1g. Is irrevocahle. 1t gives Mr.. Car
ter full power in the management or
the estate, the income from which Is
believed to 81 close TO 100000 per
wear. Under Its terms Mrs. Smart was
allowed an Income Of $4,000 per month
and her mother is given $1,000 per
month until The Indebtedness Of the
pfoperty Is Mid of. The will is, OF
course. subject TO the terms Of the
|'trust decd during the life of Mrs.
Knight. and Mr.. Smart does not i'm.
mediatcly enter into his full Inherit
nnoo, lit VIII FtSciNc OhOT"eiA e''N 49,
income, however.
Terms Of Trust Deed
The trust deed provides that after
the Indebtedness Of the estate Is paid
1 on seventy-Ryp per cent Of the net
| income is 10 Sbe paid as follows:
Two-thirds 81 it, or fifty per cent OF
the whole net income, to Mrs Smart,
and one-third, or twenty-five per cent
Of the income, to Mrs. Knight. Pro.
vidod that Mrs. Smart Is income shall
not at this time be less than $4,000
| nor her mothers less than $500 per
month, any deficiency Of this income
\ 10 DO made up from the remaining
! twenty-five per cent OF the net earn
ings
i 1hc twenty-five per cent Of the earn
I ings not definitely provided for Is 70
I lie used by the trustee for educational
charitable or public welfare purposes
or for the purchase of real estate or
other investments.
The trustee receives compensation ~
fees and COMMISSIONS provided by law
| IN the sdministration Of estates, and nc
| is required to give bond in the sum o.
100000.
i Mr.. Carter was required to make
Mrs. Smart a quarterly report, but IS
not required 10 file any account Win
1 any court, sit being the wish ana
/ agreement Of the parties hereto tnal
recourse shall not be had to any courl
A unless absolutely necessary
roads the decd Of trust.