| Knight
Case | Interviews
| Evidence
| Photos
| Biographies
| Search
| Home
|
|
|
I, Frank Knight, a resident of Arkansas, declare that this is my will. My Social Security Number is ***-**-**** REVOCATION OF PREVIOUS WILLS FIRST: I revoke all wills and codicils that I have previously made. MARITAL STATUS SECOND: I am married to Judith Veeder Knight. CHILDREN THIRD: I have the following child(ren) now living: Purity Marie knight. FAILURE TO LEAVE PROPERTY FOURTH: If I do not leave property in this will to one or more of the children or grandchildren whom I have identified above, my failure to do so is intentional. DEFINITIONS FIFTH: As used in this will, the term "specific bequest" refers to a gift of specifically identified property that I leave in this will. The term "residuary estate" refers to all property subject to this will that is not passed by specific bequest or that is specifically left to or becomes a part of my residuary estate when a beneficiary of a specific bequest fails to survive me. The term "residuary bequest" refers to a gift of all or a portion of my residuary estate. SPECIFIC BEQUESTS OF PROPERTY SIXTH: I give IBM Stocks to The Church of the Avenger. However, if one of these beneficiaries does not survive me, the surviving beneficiaries shall take his or her share equally. If there are no surviving beneficiaries, the property shall go the Center for Study of Southern Culture. SEVENTH: I give the house, cars and all properties to Judith Veeder Knight. However, if Judith Veeder Knight does not survive me, the property shall go to The Church of the Avenger. EIGHTH: I give 25 gourd heads, Statue of Liberty cutouts and $100,000 to Purity Marie Knight. However, if Purity Marie Knight does not survive me, the property shall go to The Church of the Avenger. RESIDUARY ESTATE NINTH: I give my residuary estate to The Church of the Avenger. ENCUMBRANCES AND LIENS TENTH: All personal and real property I give in a specific or residuary bequest shall pass subject to any encumbrances or liens on the property. SURVIVORSHIP PERIOD ELEVENTH: When this will states that a beneficiary must survive me for the purpose of receiving a specific bequest or residuary bequest, he or she must survive me by 45 days. DIVISION OF BEQUESTS TWELFTH: Any specific bequest or residuary bequest made in this will to two or more beneficiaries shall be shared equally among them, unless unequal shares are specifically indicated. PROPERTY MANAGEMENT THIRTEENTH: All specific bequests and residuary bequests made in this will to Purity Marie Knight shall be held in a separate trust for Purity Marie Knight until he or she reaches age 28. This trust shall be managed under the trust administration provisions set forth in this will. The trustee for the Purity Marie Knight trust shall be Uncle Rudy Knight. If Uncle Rudy Knight cannot serve, the trustee shall be Richard Howorth. No bond shall be required of any trustee. TRUST ADMINISTRATION PROVISIONS FOURTEENTH: All trusts established in this will shall be managed subject to the following provisions: (a) Any trust income which is not distributed to a beneficiary by the trustee shall be accumulated and added to the principal of the trust administered for that beneficiary. (b) Until a trust beneficiary reaches the age specified for final distribution of the principal, the trustee may distribute some or all of the principal or net income of the trust as the trustee deems necessary for the child's health, support, maintenance and education. "Education" includes, but is not limited to, college, graduate, postgraduate and vocational studies and reasonably-related living expenses. (c) In deciding whether to make a distribution to a beneficiary, the trustee may take into account the beneficiary's other income, resources and sources of support. (d) A trust shall terminate when: (1) the beneficiary reaches the age specified for final distribution of the principal (2) the beneficiary dies before the age specified for final distribution of the principal, or (3) the trust principal is exhausted through distributions allowed under these provisions. If a trust terminates for reason (1), the remaining principal and accumulated net income of the trust shall pass to the beneficiary. If a trust terminates for reason (2), the principal and accumulated net income of the trust shall pass under the beneficiary's will, or if there is no will, to his or her heirs. (e) In addition to other powers granted a trustee in this will, a trustee shall have: (1) all the powers generally conferred on trustees by the laws of the state having jurisdiction over the trust (2) the powers conferred by this will on the personal representative as to accumulated property and income in each trust, and (3) the authority to hire and pay from trust assets the reasonable fees of investment advisors, accountants, tax advisors, agents, attorneys and other assistants to administer the trust, manage any trust asset and handle any litigation affecting the trust. (f) It is my intent that any trust established in this will be administered independently of court supervision to the maximum extent possible under the laws of the state having jurisdiction over the trust. (g) The interests of any beneficiary of a trust established in this will shall not be transferable by voluntary or involuntary assignment or by operation of law and shall be free from the claims of creditors and from attachment, execution, bankruptcy, or other legal process to the fullest extent permitted by law. (h) Any trustee serving under the terms set forth in these provisions shall be entitled to reasonable compensation out of trust assets for ordinary and extraordinary services, and for all services in connection with the complete or partial termination of any trust created by this will. (i) The invalidity of any trust provision of this will shall not affect the validity of the remaining provisions. PERSONAL REPRESENTATIVE FIFTEENTH: I name Richard Howorth as my personal representative. No personal representative shall be required to post bond. PERSONAL REPRESENTATIVE'S POWERS SIXTEENTH: I direct my personal representative to take all actions legally permissible to have the probate of my will done as simply and as free of court supervision as possible under the laws of the state having jurisdiction over this will, including filing a petition in the appropriate court for the independent administration of my estate. SEVENTEENTH: I grant to my personal representative the following powers, to be exercised as he or she deems to be in the best interests of my estate: 1) To retain property without liability for loss or depreciation. 2) To dispose of property by public or private sale, or exchange, or otherwise, and receive and administer the proceeds as a part of my estate. 3) To vote stock, to exercise any option or privilege to convert bonds, notes, stocks or other securities belonging to my estate into other bonds, notes, stocks or other securities, and to exercise all other rights and privileges of a person owning similar property. 4) To lease any real property in my estate. 5) To abandon, adjust, arbitrate, compromise, sue on or defend and otherwise deal with and settle claims in favor of or against my estate. 6) To continue or participate in any business which is a part of my estate, and to incorporate, dissolve or otherwise change the form of organization of the business. The powers, authority and discretion I grant to my personal representative are intended to be in addition to the powers, authority and discretion vested in him or her by operation of law by virtue of his or her office, and may be exercised as often as is deemed necessary or advisable, without application to or approval by any court. PAYMENT OF DEBTS EIGHTEENTH: Except for liens and encumbrances placed on property as security for the repayment of a loan or debt, I instruct my personal representative to pay all debts and expenses, using my residuary estate. PAYMENT OF TAXES NINETEENTH: I instruct my personal representative to pay all estate and inheritance taxes assessed against property in my estate or against my beneficiaries as provided for by the laws of Arkansas. NO CONTEST PROVISION TWENTIETH: If any beneficiary under this will contests this will or any of its provisions, any share or interest in my estate given to the contesting beneficiary under this will is revoked and shall be disposed of in the same manner as if that contesting beneficiary had failed to survive me and left no living children. SIGNATURE I, Frank Knight, the testator, sign my name to this instrument, this 20 day of December, 1996, at 1 PM. I declare that I sign and execute this instrument as my last will, that I sign it willingly, and that I execute it as my free and voluntary act. I declare that I am of the age of majority or otherwise legally empowered to make a will, and under no constraint or undue influence. ________________________ (Signed) WITNESSES We, the witnesses, sign our names to this instrument, and declare that the testator willingly signed and executed this instrument as the testator's last will. Each of us, in the presence of the testator, and in the presence of each other, sign this will as witness to the testator's signing. To the best of our knowledge, the testator is of the age of majority or otherwise legally empowered to make a will, is mentally competent and under no constraint or undue influence. We declare under penalty of perjury that the foregoing is true and correct, this 20 day of December ,1996, at 1 PM. Witness #1: Gary Owens Residing at: 123 Pearl cove, Mtn Home, AR Witness #2: Bernie Owens Residing at: 123 Pearl cove, Mtn Home, AR Witness #3: Evie Dobbs Residing at: Falcon Road, Mtn Home, AR |