Opinion ID: 1736103
Heading Depth: 1
Heading Rank: 4

Heading: trust estate

Text: 1. Sources of Property. Promptly after the execution of this agreement, the Grantor intends to designate the Trustee as the beneficiary of certain policies of insurance upon the life of the Grantor. The Grantor at any time also may name the Trustee as the beneficiary of additional policies of insurance upon the life of the Grantor or upon the lives of others, may have various death benefits made payable to the Trustee, and may transfer property to the trust during the Grantor's lifetime and by the Grantor's will. The Trustee at any time also may receive property of any kind from persons other than the Grantor. 2. Meaning of Trust Estate. The life insurance proceeds and any other property which the Trustee at any time may receive or acquire for the purposes of the trusts created by this agreement shall constitute and for convenient reference collectively are referred to in this agreement as the trust estate . . . . . . . . ARTICLE III LIFE INSURANCE POLICIES . . . . 3. Collection of Proceeds. Upon the death of the insured, the Trustee shall use its best efforts to collect the proceeds of any policy of life insurance of which the Trustee is the beneficiary and of which the Trustee has knowledge. . . . . . . .