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Mid Pr Ourt
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@ Number
LAST WILL AND TESTAMENT
OF
CAROLE A. PAINTER
|, CAROLE A. PAINTER, a resident of Maricopa County, Arizona, declare this
to be my Last Will and Testament and revoke ali Wills and Codicils heretofore made by
me.
ARTICLE |
| declare that | am married to HOWARD O. PAINTER, JR., and all references
in this Will to “my husband" are to him. | declare that | have two (2) children, whose names
are EDWARD M. PAINTER and HELEN P. KELLY. The term "my children" as used in this
Will shall referto those children named above.
ARTICLE It
{ give all my personal automobiles, hobby and sporting goods, transferable
club memberships, silverware, chinaware, books, pictures, paintings, works of art,
household furniture and furnishings, jewelry, clothing and other personal effects, together
with any insurance on such property, to my husband, if he survives me. If my husband
does not survive me, | give all such personal effects otherwise distributable to him by the
terms of this Article Il, together with any insurance on such property, to my children, who
survive me, in substantially equal shares as they shall agree. My Personal Representative
shall pay from the residue of my estate any expenses for storage of such personal effects
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for a period not to exceed one (1) year after the date of my death or for delivering such per-
sonal effects to a distributee hereunder.
ARTICLE Il
I give the residue of my estate to the then serving Trustee under that certain
Trust Agreement dated April 7, 1997, wherein my husband and | are the Trustors (“the
Trust Agreement”). The property distributable by the terms of this Article [II shall be held,
administered and distributed in accordance with all the provisions of the Trust Agreement,
including any amendments thereto in effect at my death.
ARTICLE IV
A The Trust Agreement directs the Trustee to pay ail inheritance, estate
or other death taxes that by reason of my death are attributable, on a pro rata basis, to the
trust, including any interest and penalties thereon. In addition, the Trust Agreement
authorizes the Trustee, in its discretion, to pay all inheritance, estate or other death taxes
that by reason of my death are attributable, on a pro rata basis, to my probate estate and
to any transfers of property (other than such trust) outside my probate estate, including any
interest and penalties thereon. To the extent such taxes are not paid pursuant to these
provisions of the Trust Agreement, such taxes shall be paid by my Personai
Representative out of the residue of my estate, to the extent the residue is sufficient to pay
such taxes. Anything hereinabove in this paragraph A, to the contrary notwithstanding, the
person or persons holding or receiving any property which is included in my estate for
federal estate tax purposes pursuant to one or more of sections 2033, 2035 through 2039,
2041 and 2042 of the Internal Revenue Code of 1986, as amended (hereinafter "|.R.C.",
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with any reference thereto to be deemed to include any successor provisions thereto),
other than the assets held in the trust created by the Trust Agreement, shall, to the extent
allowed by law and to the extent not paid by the Trustee pursuant to the discretion granted
the Trustee by the terms of the Trust Agreement, pay that amount by which the estate and
inheritance taxes, due by reason of my death, are increased by reason of the inclusion of
such property in my gross estate, including any interest and penalties thereon. Further, |
direct my Personal Representative or the Trustee of the Trust Agreement, as the case may
be, to pursue all rights to recover estate taxes paid as set forth in I.R.C. subtitle B, chapter
11, subchapter C. Further, | hereby incorporate herein by this reference all provisions
regarding payment of estate or other death taxes contained in the Trust Agreement (as
existing after any amendments in effect at the date of my death), pursuant to Arizona
Revised Statutes § 14-2510 (or any successor provision thereto), such provisions to be
deemed directions contained in this Will for such payments for purposes of the provisions
of 1.R.C. subtitle B, chapter 11, subchapter C. Finally, anything hereinabove in this
paragraph A. to the contrary notwithstanding, in no event shall retirement plan benefits that
are subject to the minimum distribution rules of |.R.C. § 401(a)}(9) be used to pay estate or
inheritance taxes.
B To the extent practicable, and to the extent deemed appropriate in the
sole discretion of my Personal Representative, assets which must be sold to enable my
Personal Representative to make payments of any kind which are required or permitted
hereunder, and assets which are to be used to satisfy any distribution required or permitted
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hereunder, shall be selected so as to minimize the combined federal income tax burden of
my estate and the beneficiaries thereof.
c My Personal Representative shall make such elections under the tax
laws as my Personal Representative deems advisable, without regard to the relative
interests of my beneficiaries, and no adjustment shall be made in the relative interests of
my beneficiaries to compensate for the effect of such elections.
D My Personal Representative shall make such allocation of the GST
exemption allowable to me pursuant to I.R.C. § 2631, as my Personal Representative
deems advisable. Such allocation may be made by my Personal Representative without
regard to the relative interests of my beneficiaries, and no adjustment shall be made to the
relative interests of my beneficiaries to compensate for the effect of such allocation.
Determinations regarding such allocation, made in good faith by my Personal
Representative, shall not be subject to question by any person affected thereby.
E My Personal Representative shall not use retirement plan benefits that
are subject to the minimum distribution rules of I.R.C. § 401(a}(9) to pay debts, expenses
of administration or pecuniary bequests.
ARTICLE V
The provisions of this Will are intended to be in lieu of any other rights,
claims, or interest of whatever nature, whether statutory or otherwise, except bona fide pre-
death debts, which any person hereunder may have against or in my estate. Accordingly,
if any person asserts any claim whatsoever (except a legally enforceable debt), statutory
election, or other right or interest against or in my estate, or directly or indirectly contests,
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disputes, or cails into question, before any court, the validity of this Will or the validity of
any provisions of this Will, then:
A Such person shail thereby absolutely forfeit any and all interests of
whatsoever kind and nature which such person might otherwise have in the assets of my
state, and my estate shall be distributed as if such person had predeceased me.
8 Any of the provisions of my Will, to the extent they confer any benefits,
powers, or rights whatsoever upon such claiming, electing, or contesting person, shall
thereupon become absolutely void and revoked.
Cc All costs related to the assertion of such claim or the institution of such
contest shall be directly charged to and borne by the person asserting such claim or
instituting such contest.
ARTICLE VI
| nominate and appoint my husband as Personal Representative to
administer my estate. lf my husband is unable or unwilling to serve as Personal
Representative, | nominate and appoint my son, EDWARD M. PAINTER, as Personal
Representative to administer my estate. If both my husband and EDWARD M. PAINTER
are unable or unwilling to serve as Personal Representative, | nominate and appoint my
daughter, HELEN P. KELLY, as Personal Representative to administer my estate. | direct
that my Personal Representative shall not be required to post bond.
DWirshe
w ITNESS WHEREOF, | have hereunto set my hand this ie say of
72007.
nicl Uf Pane
CAROLE A. PAINTER
5.
Mic x Probate ai
ate Filed: 3/14,
aSe
The foregoing instrument, consisting of six (6) typewritten pages, including
this page, was signed by the Testatrix, CAROLE A. PAINTER, in our joint presence, she
then being of sound and disposing mind and free from constraint, and published and
declared by her to be her Last Will and Testament, and we, at her request and in her
presence, and in the presence of each other, hereunto subscribe our names as attesting
witnesses thereto this 4> __ day of exit , 2007.
WS Grr fache- 12% A. Bsswtl blued
Sen Che, Mires
eh re YO VV LY. Crt utt, Ut)
Se Candas, Ds
-6-
Preview
Mid Pr Ourt ate Fi 44 7PM @ Number LAST WILL AND TESTAMENT OF CAROLE A. PAINTER |, CAROLE A. PAINTER, a resident of Maricopa County, Arizona, declare this to be my Last Will and Testament and revoke ali Wills and Codicils heretofore made by me. ARTICLE | | declare that | am married to HOWARD O. PAINTER, JR., and all references in this Will to “my husband" are to him. | declare that | have two (2) children, whose names are EDWARD M. PAINTER and HELEN P. KELLY. The term "my children" as used in this Will shall referto those children named above. ARTICLE It { give all my personal automobiles, hobby and sporting goods, transferable club memberships, silverware, chinaware, books, pictures, paintings, works of art, household furniture and furnishings, jewelry, clothing and other personal effects, together with any insurance on such property, to my husband, if he survives me. If my husband does not survive me, | give all such personal effects otherwise distributable to him by the terms of this Article Il, together with any insurance on such property, to my children, who survive me, in substantially equal shares as they shall agree. My Personal Representative shall pay from the residue of my estate any expenses for storage of such personal effects wilt saan Mid dl y Court PM ber for a period not to exceed one (1) year after the date of my death or for delivering such per- sonal effects to a distributee hereunder. ARTICLE Il I give the residue of my estate to the then serving Trustee under that certain Trust Agreement dated April 7, 1997, wherein my husband and | are the Trustors (“the Trust Agreement”). The property distributable by the terms of this Article [II shall be held, administered and distributed in accordance with all the provisions of the Trust Agreement, including any amendments thereto in effect at my death. ARTICLE IV A The Trust Agreement directs the Trustee to pay ail inheritance, estate or other death taxes that by reason of my death are attributable, on a pro rata basis, to the trust, including any interest and penalties thereon. In addition, the Trust Agreement authorizes the Trustee, in its discretion, to pay all inheritance, estate or other death taxes that by reason of my death are attributable, on a pro rata basis, to my probate estate and to any transfers of property (other than such trust) outside my probate estate, including any interest and penalties thereon. To the extent such taxes are not paid pursuant to these provisions of the Trust Agreement, such taxes shall be paid by my Personai Representative out of the residue of my estate, to the extent the residue is sufficient to pay such taxes. Anything hereinabove in this paragraph A, to the contrary notwithstanding, the person or persons holding or receiving any property which is included in my estate for federal estate tax purposes pursuant to one or more of sections 2033, 2035 through 2039, 2041 and 2042 of the Internal Revenue Code of 1986, as amended (hereinafter "|.R.C.", -2- Middlesex Pr nd Far OurL 14ie M Case ber with any reference thereto to be deemed to include any successor provisions thereto), other than the assets held in the trust created by the Trust Agreement, shall, to the extent allowed by law and to the extent not paid by the Trustee pursuant to the discretion granted the Trustee by the terms of the Trust Agreement, pay that amount by which the estate and inheritance taxes, due by reason of my death, are increased by reason of the inclusion of such property in my gross estate, including any interest and penalties thereon. Further, | direct my Personal Representative or the Trustee of the Trust Agreement, as the case may be, to pursue all rights to recover estate taxes paid as set forth in I.R.C. subtitle B, chapter 11, subchapter C. Further, | hereby incorporate herein by this reference all provisions regarding payment of estate or other death taxes contained in the Trust Agreement (as existing after any amendments in effect at the date of my death), pursuant to Arizona Revised Statutes § 14-2510 (or any successor provision thereto), such provisions to be deemed directions contained in this Will for such payments for purposes of the provisions of 1.R.C. subtitle B, chapter 11, subchapter C. Finally, anything hereinabove in this paragraph A. to the contrary notwithstanding, in no event shall retirement plan benefits that are subject to the minimum distribution rules of |.R.C. § 401(a)}(9) be used to pay estate or inheritance taxes. B To the extent practicable, and to the extent deemed appropriate in the sole discretion of my Personal Representative, assets which must be sold to enable my Personal Representative to make payments of any kind which are required or permitted hereunder, and assets which are to be used to satisfy any distribution required or permitted 3. Middlesex Pr nd Far OurL 14ie M Case ber hereunder, shall be selected so as to minimize the combined federal income tax burden of my estate and the beneficiaries thereof. c My Personal Representative shall make such elections under the tax laws as my Personal Representative deems advisable, without regard to the relative interests of my beneficiaries, and no adjustment shall be made in the relative interests of my beneficiaries to compensate for the effect of such elections. D My Personal Representative shall make such allocation of the GST exemption allowable to me pursuant to I.R.C. § 2631, as my Personal Representative deems advisable. Such allocation may be made by my Personal Representative without regard to the relative interests of my beneficiaries, and no adjustment shall be made to the relative interests of my beneficiaries to compensate for the effect of such allocation. Determinations regarding such allocation, made in good faith by my Personal Representative, shall not be subject to question by any person affected thereby. E My Personal Representative shall not use retirement plan benefits that are subject to the minimum distribution rules of I.R.C. § 401(a}(9) to pay debts, expenses of administration or pecuniary bequests. ARTICLE V The provisions of this Will are intended to be in lieu of any other rights, claims, or interest of whatever nature, whether statutory or otherwise, except bona fide pre- death debts, which any person hereunder may have against or in my estate. Accordingly, if any person asserts any claim whatsoever (except a legally enforceable debt), statutory election, or other right or interest against or in my estate, or directly or indirectly contests, -4- Middlesex Pr nd Far OurL 14ie M Case ber disputes, or cails into question, before any court, the validity of this Will or the validity of any provisions of this Will, then: A Such person shail thereby absolutely forfeit any and all interests of whatsoever kind and nature which such person might otherwise have in the assets of my state, and my estate shall be distributed as if such person had predeceased me. 8 Any of the provisions of my Will, to the extent they confer any benefits, powers, or rights whatsoever upon such claiming, electing, or contesting person, shall thereupon become absolutely void and revoked. Cc All costs related to the assertion of such claim or the institution of such contest shall be directly charged to and borne by the person asserting such claim or instituting such contest. ARTICLE VI | nominate and appoint my husband as Personal Representative to administer my estate. lf my husband is unable or unwilling to serve as Personal Representative, | nominate and appoint my son, EDWARD M. PAINTER, as Personal Representative to administer my estate. If both my husband and EDWARD M. PAINTER are unable or unwilling to serve as Personal Representative, | nominate and appoint my daughter, HELEN P. KELLY, as Personal Representative to administer my estate. | direct that my Personal Representative shall not be required to post bond. DWirshe w ITNESS WHEREOF, | have hereunto set my hand this ie say of 72007. nicl Uf Pane CAROLE A. PAINTER 5. Mic x Probate ai ate Filed: 3/14, aSe The foregoing instrument, consisting of six (6) typewritten pages, including this page, was signed by the Testatrix, CAROLE A. PAINTER, in our joint presence, she then being of sound and disposing mind and free from constraint, and published and declared by her to be her Last Will and Testament, and we, at her request and in her presence, and in the presence of each other, hereunto subscribe our names as attesting witnesses thereto this 4> __ day of exit , 2007. WS Grr fache- 12% A. Bsswtl blued Sen Che, Mires eh re YO VV LY. Crt utt, Ut) Se Candas, Ds -6-