This matter involves the Edgar L. Smith Trust, dated April 24, 2015 (“Edgar’s Trust”). Edgar Smith was the sole settlor of Edgar’s Trust and it was created months after the death of his spouse, Bernice Smith. Years prior, Edgar and Bernice Smith created a family trust, the Edgar and Bernice Smith Revocable Trust, dated June 17, 2005 (“Family Trust”).
Douglas Buchanan is the Trustee of both Edgar’s Trust and the Family Trust (“Trustee”).
The Family Trust was designed to split into two subtrusts, Trust A and Trust B, upon the first death (“Trust A” or “Trust B”). This split occurred after Ms. Bernice Smith died in 2014 and, based on the file, each subtrust was funded with approximately $1,039.668.50.
Upon the second death, Trust A and Trust B were to be combined if Mr. Edgar Smith had not exercised a power of appointment over Trust A. The June 17, 2005 Family Trust, Article VI, E, states the beneficiaries are Richard Smith (Edgar’s son), Janet Spoodis, Mary Ann Spoodis, Michael Spoodis,