Opinion ID: 1736103
Heading Depth: 1
Heading Rank: 6

Heading: division upon grantor's death

Text: 1. Establishment of Family Trust. Subject to the provisions of Article V, upon Grantor's death, the Trustee shall transfer the trust estate as then constituted (including but not limited to any insurance proceeds, death benefits, or property receivable by the Trustee by reason of the Grantor's death and any property receivable by the Trustee pursuant to the will of the Grantor) into a separate trust, to be known as the Family Trust . . . . The trust agreement also provided that the assets of the family trust were to be divided equally among the children living at the time of Monroe's death and the issue of any deceased child. The stated objective of the family trust was to ensure that the Grantor's issue will enjoy the benefits of and ultimately receive a substantial portion of the Grantor's estate. In his will executed on August 3, 1984, Monroe described himself as a widower with three children from a former marriage and stated that he had intentionally made no provision in the will for any children of mine nor for HELEN BROWN of Las Vegas, Nevada, who I am presently contemplating marrying. The will provided that Monroe could prepare a separate written statement or list for the purpose of disposing of various items of tangible personal property and that if he did so, the listed items were devised to the listed devisees who survived him by more than 60 days. The will further provided: I devise all the residue of my estate, wherever situated, whether real or personal, tangible or intangible, together with all insurance policies relating thereto, to the trustee under that certain trust agreement dated July 25, 1984 wherein I am referred to as Grantor. The will named Tipp as personal representative of Monroe's estate. On March 7, 1985, Monroe executed a handwritten statement in which he devised all tangible items of personal property including, without limitation, all household goods, furniture and personal effects to Tipp.