HomeMy WebLinkAboutsummary of trustNOTARIZED SUMMARY OF TRUST
THE LEONARD R. BEWLEY AND AUDREY L. BEWLEY
REVOCABLE LIVING TRUST AGREEMENT
The undersigned hereby certify that they created a Revocable Living Trust. This Trust is known
as: T E LEONARD R. BEWLEY~ND AUDREY L. BEWLEY REVOCABLE LIVING TRUST, dated
the / day of s~ ~Ci,V , 19~. LEONARD R. BEWLEY and AUDREY L.
BEWLEY, Trustors and ustees, having an address at 2321 Arrington Rd., the City of College Station,
the State of Texas, the County of Brazos.
IT IS AGREED BETWEEN THE PARTIES HERETO AS FOLLOWS:
Description of Trust
The parties hereto desire to confirm the establishment of a Revocable Trust on this date, for the
benefit of the Trustors (as husband and wife) and containing herein the following provisions:
1. The Trustors are designated as the Trustees to serve until both of their deaths, resignations or
incompetence.
2. Upon the end of the terms of the original Trustees, MICHAEL R. BEWLEY is designated as First
Successor Trustee. JOE R. BEWLEY is designated as Second Successor Trustee.
3. Upon the death of either Trustor, the surviving spouse retains the unlimited right to the Trust. She
or he also retains a general power of appointment which can be exercised by will or by lifetime transfer
over the Trust property.
4. Any Trustee/Trustor has the power and authority to manage and control, buy, sell, and transfer
the trust property, in such manner as the Trustee may deem advisable, and shall have, enjoy and exercise
all powers and rights over and concerning said property and the proceeds thereof as fully and amply as
though said Trustee were the absolute and qualified owner of same, including the power to grant, bargain,
sell and convey, encumber and hypothecate, real and personal property, and the power to invest in
corporate obligations of every kind, stocks, preferred or common, and to buy stocks, bonds and similar
investments on margin or other leveraged accounts, except to the extent that such management would cause
includability of an irrevocable trust in the Estate of a Trustee.
5. Following the death of both husband and wife, the Trust continues or is distributed in whole or in
part for the benefit of other named Beneficiaries according to the terms of the Trust.
6. While both Trustors are living and competent, except when there shall be a Corporate Trustee,
either Trustee may add money to or withdraw money from any bank or savings and loan or checking
account owned by the Trust without the approval of the other Trustee or other Trustor, provided, however,
that the ownership of funds received and deposited, whether community property or non-community
property shall remain the same and the Trustor removing or adding funds shall gain no additional ownership
interest therein than was present prior to the withdrawal from or addition to the Trust Account.
7. All property transferred into the Trust which had an original source as community property shall
remain community property unless other provisions shall have been made therefor.
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8. All separate property transferred into the Trust remains separate property unless other provisions
have been made therefore.
9. Unless otherwise indicated to a prospective transferee, the Trustee has full power to transfer assets
held in the name of the Trust and subsequent transferees are entitled to rely upon such transfers provided
the chain of title is not otherwise deficient.
10. The Trust Agreement also states that any bank, corporation, brokerage firm or other entity or any
individual may conclusively presume that the Trustee has full power and authority and such person or
institution shall be held harmless and shall incur no liability by reason of so presuming.
11. The situs of the Trust is the State of Texas.
12. The use of this Summary of Trust is for convenience only and the Trust solely controls as to
provisions and interpretations, and any conflict between this abstract and the Trust shall be decided in favor
of the Trust.
IN WITNESS WHEREOF, the parties have hereto executed this Summary of Trust this date.
TRUSTORS\TRUSTEES:
LEONARD R. BEWLEY
AUDREY L. B LEY
NOTARIZED SUMMARY OF TRUST
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STATE OF TEXAS
COUNTY OF BRAZOS
On this the day of
personally appeared LEONARD R. BEWLE and AUDREY
be the persons whose name are subscribed to this instrument,
the purposes herein expressed.
19 before me, a Notary Public,
L. BEWLEY, personally known to me to
and acknowledged that they executed it for
Public, State o
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