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May 30, 2003 Will
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WLL
OF
ALLAN HAYN4ES
I, ALLANHAYMES, aresidentofanddomiciledinPalmBeachCourty, Florida, declare
this to be my last Will and revoke all prior Wills and Codicils.
ARTICLE I. EXPENSES OF LAST ILLNESSAND FLINERAL
I direct the payment of the expenses of my last illness and funeral.
ARTICLE II. GIFT OF HOUSEHOLD ANDPERSONAL EFFECTS
Clause 1. Separate Writing. I give all of my automobiles, household and
personal effects, and other tangible personal property of like natre, together with all property and casualty
insurance thereon and claims with regard thereto, in accordance with a written statement which I may have
prepared prior to my death in conformity with Florida law. My Personal Representatives may assume that
no written statement exists if none is found within 30 days after admission of this Willto probate.
Clause 2. Gift to Wife. Except as otherwise provided in any such written
statement, I give my automobiles, household and personal effects, and other tangible personal properby
of like nature, together with all properly and casualty insurance thereon and claims with regard thereto, to
my wife, CAROL HAYMES.
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Clause 3 . Contingent Gift to Trust. Except as otherwise provided for in any such
written statement referred to in Clause 1 ofthis Article, and in the event my wife, CAROL IIAYMES, does
not survive me, I give such properly to the Trustees then serving under the Agreement of Trust referred to
in Article IV of this Will.
Clause 4. Includable Properly. Household and personal effects and other tangible
personal properry of like nature shall not include cash or sectrities, and in the event of any doubt or dispute
as to which items ofpersonal property are disposed ofbythis Article,I give myPersonal Representatives
discretion to determine the property included herein'
ARTICLE III. PROVISION FOR TAXES
All Federal, State and other taxes, including any interest or penalties, payable because
of my death with respect to property included in my gross estate for tax purposes and passing under this
Will shall be paid to the extent and in the manner provided in the Agreement of Trust referred to in Article
IV of this will, as if such taxes were administration expenses.
ARTICLE IV. DISPOSITION OF RESIDUE
Subj ect to the foregoing, I give all the rest, residue and remainder of my estate, real
andpersonal, to the TrusteesthenservingundertheAgreementofTrustofwhichl am Settlorand Trustee,
dated this day but executed before this Will, for adminish'ation and distribution as part oftrust principal and
subjectto theterms andprovisions ofsaid agreement, includinganyalterations oramendmentsthereto.
In an instancewhere a share ofmyestate wouldbe distributedto abeneficiaryofsuchtrustwhenreceived
by the Trustees, my personal Representatives may make distributions directly to such beneficiary.
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ARTICLE V. PROTECTIVE PROVISIONNo interest under this Will, whether in income or principal, shall be subject to
anticipation, assignment, pledge, sale or transfer in anymanner. No beneficiary shall anticipate, encumber
or charge such interest, nor shall any such interest, while in the possession of my Personal Representatives,
be liable for or subject to the debts, contracts, obligations, liabilities or torts of any beneficiary.
ARTICLE VI. DISABILITY OF BENEFICIARYClause 1 . My Personal Representatives in their discretion may determine that a
beneficiary hereunder is physically or mentally incapable ofproperly using any property or income to which
such individual is entitled.
Clause 2. Ifanybeneficiaryhereunder is underthe age ofTwenty-five (25) years,
or pursuant to Clause t hereof has been determined to be incapacitated, my Personal Representatives,
during said incapacity, or until such beneficiary attains the age of Twenty-five (25)yeats, as the case may
be, shall hold anyproperty or income to which such individual is entitled, IN TRUST, for such individual
and mayapplywithoutthe interventionofa guardian all orpartofthe income and/orprincipal thereofas
in their opinion is necessary for the support, education, health and maintenance of such individual, The
receipts from persons selected by my Personal Representatives to receive and disburse such principal or
income shall fully discharge my Personal Representatives with regard thereto.
ARTICLE VII. SURVIVAL PROVISIONInthe eventthat anybenefi ciaryhereunder shall fail to survive me by aperiod ofat least
sixty (60) days, it shall be presumed that such beneficiary predeceased me.
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ARTICLE VIII. POWERS OF PERSONAL REPRESENTATIVES
Subjectto anyspecific directioninthis Will and inadditionto thepowers vested in
them by law and other provisions of my Will, all Personal Representatives serving hereunder at any time
in administering my estate shall have the following powerc, exercisable in their discretion without court
approval and effective until actuat distribution ofall properly. Ifanypower, authority or discretion granted
fiduciaries hereunderbe construedto deprive myestate ofthemarital deduction otherwiseprovided for
hereunder with a resultant increase in Federal estate taxes payable, such power, authority or discretion, to
the extent it so adversely affects the marital deduction, is null, void and inoperative, provided however, that
this direction shall notrequire myPersonal Representativesto make anyelectionunder Section2056(bX7)
of the Intemal Revenue Code.
Clause 1. ProLerty Retention and Investments.
(") Notrvithstanding the provisions ofFlorida Statute $5 1 8.1 1, andits successors, or any other statute or rule regarding investnents byPersonal Representatives and without
regard to risk, productivity, growth ofprincipal or any statute or principle of diversification: to retain any
or ail properly; and to invest in all forms ofproperty without reshiction or limitation to investrnents authorized
for Perscnal Representatives.
(b) My Personal Representatives shall not have any obligation torent my residence during the period of administration.
Clause 2. Use qfNgginee. To hold shares of stock or other securities in nominee
registration form, including that ofa clearing corporation or depository, or inbook enty form or turregistered
or in such other form as will pass by delivery.
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Clause3. Dispositiong_fPlg@ry. Wittrregardtoanyproperlyandforsuchprices
anduponsuchtermsastheydetermine: toexchangeorsellatpublicorprivatesale;toleaseforanyperiod
oftime, even though the term may extend beyond the conclusion ofthe administration ofmy estate; and
to give options for any such sales, exchanges or leases.
Clause 4. Borrow Money and Pledge Property. To borrow money from any
person, including any Personal Representative, and in connection therewith, to mortgage or pledge any
property.
Clause 5. Compromise Claims and Make Disclaimers. To compromise any claim
or controversy and to make and file disclaimers for me or my estate without Court authorization.
Clause6. AbandonmentgfProperty. Toabandonanypropertyforany reason
my Personal Representatives deem proper.
Clause 7. Distribution. To distibuteproperfy, including income orprincipal, in
cash and/or in kind, and to allocate specific assets among the beneficiaries hereunder in suchproportions
as my Personal Representatives think best.
Clause 8. Employmento.flOthers. Toengageattomeys, accountants, custodians,
investrnent counsel and other persons as they deem advisable in the adminiskation ofmy estate and to make
palnnent therefor as they determine.
Clause 9. Apportionments.(a) To allocate receipts, income, expenses and disbursements to
principal or income, or partly to each, as my Personal Representatives, other than a Personal Representative
having a beneficial interest in any such allocation, at any time and time to time, in their discretion may
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determine, or otherwise in accord with applicable law, and this power to allocate shall include, but not be
limited to, stock, extraordinary and liquidating dividends, premiums and discounts on investments,
compensation for professional and other personal services, and gain or loss on disposition of assets; and
(b) Toallocatedepreciationand amortizationexpenses,includingsuch expenses takenby apartnership owning depreciable assets, to income orprincipal, orpartlyto each,
and to the extent such allocation is made to principal, my Personal Representatives are directed to establish
and to fund a reserve equal to such principal allocation, which shall be added to and made a part of
principal.
Clause 1 0. Elections Relatingto Taxes. Notvrithstandingthatadditionaltax burders
may result, or that the size of the gift or interest passing to any beneficiary or trust may be affected by
increased taxes payable as a result of the exercise or nonexercise of any of the following powers:
(a) To electaltematevaluationofmyestateunderSectton2032ofthe Internal Revenue Code or any similar provision;
(b) To elect pursuant to Section 2056@)(7) ofthe Intemal RevenueCode to have property constitute qualified terminable interest property;
(c) To allocate any federal exemption from the federal generationskipping transfer tax to any property with respect to which I am the transferor for purposes of said tax
(whether ornot suchproperfyis includedinmyprobateestate) andto exclude anysuchproperlyfromsuch
allocation;
(d) Tojoinwithmywife,CAROLFIAYA4ES,infilingFederal, Stateand Local income and other tax returns for all years; and
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(") Toconsenttohavinggiftsmadebymywife, CAROLIfAYMES,considered as having been made one-half by each of us for Federal gift tax purposes.
Clause 1 1. OptionalTreatmento:[Deductions. Toexerciseanyoption provided
by law to treat administration or other expenses, whether paid from principal or from income, as items of
deduction on either the income tax retums or estate tax retums, without requiring reimbursement ofprincipal
for anyresulting increase in estate tax, provided, however, that if any Personal Representatives are not
beneficiaries, such Personal Representatives shall be solely responsible for such decision to exercise this
power.
Clause 1 2. Executionqffucuments. To execute anddeliverany and all documents
and instruments which they in their discretion may deem advisable.
C1ause 13. GeneralAuthoritv. Toperformallacts,irstitutesuchproceedings and
exercise all rights and privileges, although not herein specifically mentioned, with relation to any property,
as if the absolute owners thereof.
Clause 14. LimitationOnPowers. tnadditiontootherlimitationsonthe powerc
ofPersonal Representatives contained inthis Will, noprovisioninthis Will shall be construedtopermita
Personal Representative to take part in any discretionary decision to distribute income or principal to or
for the benefit of a beneficiary in satisfaction of any legal obligation of such Personal Representative to
support such benef,t ciary .
Clause 15. WithdrawalAuthoritv. Uponur:animouswrittenagreementmy Penonal
Representatives may authorize any one or more than one ofthe personal representatives to sign checks and
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other insffuments to make withdrawals from any checking, savings, money markef brokerage or other account.
ARTICLE D(. APPOINTMENT OF PERSONALREPRESENTATIVES
Clause 1. AppointmentgfPersonalRepresentative. Iappointmywife, CAROL
HAYMES, Personal Representative of this Will.
Clause 2. Successor Personal Representatives. Should my wife, CAROL
IIAYMES, fail to qualify or cease to act as Personal Representative, I appoint mynephew, MARK ERTES,
to serve in her place.
Clause 3. Waiver o,fsecuritv. No Personal Representative shall be required to
give bond or furnish sureties in any jurisdiction.
Clause 4. Transactions with Related Persons or Entities. My Personal
Representatives may enter into any contract or other hansaction with any entity in which any one or more
ofthemhas anyinterestas aproprietor, fiduciary,beneficiary, employee,partner, stockholder, directoror
officer.
Clause 5. Responsibilit-vgflPersqnalRepresentatives. NoPersonal Representative
shall have anyliabilityexceptforhis orherowndishonesty, grossnegligence, orthewillful commissionof
an act known by him or her to be a breach of trust.
ARTICLE X. CONSTRUCTION
Clause 1. As used herein, wherever the context requires or permits,
the gender and number ofwords shall be interchangeable; benef,ciaries shall include legatees and devisees;
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"disoretion," unless otherwise expressly limited herein, shall mean the sole and absolute right, power and
authority to make a determination which shall not be subject to question by any person and shall be
conclusive and binding on all persons; and no antiJapse or other statute regarding devolution ofproperty
shall apply to any gift hereunder which is conditioned upon survival of the beneficiary of such gift.
Clause 2. AllheadingsprecedingthetextoftheseveralArticles, Clauses and
Sub-paragraphs hereofare inserted solely for reference and shall not constitute a part ofthis Will, nor affect
its meaning, construction or effect.
IN WITNES S WHEREOF, I, ALLAN HAYMES, have set my hand and seal to this, my
lastWillconsistingofnine(9)pag "r,*i, ?O dayof
SIGNED, SEALED, PUBLISHED and DECLARED by ALLAN HAYMES, Testator, as and for
his Last Will and Testament, in the presence ofus, who, at his request, in his presence and in the presence
, all being present at the same time, have hereunto subscribed our names as witnesses.
, Two Thousand Three (2003).
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STATE OF FLORIDACOUNTY OF PALM BEACH
and to the
))SS:)
the offrcer signing below, and declare to that officer on our oaths that ALLAN HAIMES declared theinstrument to be his will and signed it in our presence and that we each signed the instrument as a witness
in the presence of ALLAN HAYMES and of each other.
Acknowledged and subscribed before me bythe Testator, ALLAN HAYMES, who is
personallyknown to me or who has produced'-*
asidentification, and
swom to and subscribed before me by the witnesses,
who'is personally known to me or who has produced
identification and Ch r ,dA& who is pe-Egnalllbtown to me or who hasproduced as identification, and subscribed by me in the presence
of ALLAN HAYMES and the subscribing
My Commission expires:
E7.tz,e Er=rr+ /l,'/+r*a C-hnsfin*ilt''h'i l, havebeenswombv
,.*!ll* Tammle B Masseyt#'.tH;:ruil:ffil:ltr
I,ALLANIIAYMES, declaretotheofficertakingmyacknowledgmentofthisinstrument,subscribing witnesses, that I signed this instrument as my will.
r,vitnesses, all on Ae
F:\DOC\CLIENTS\llaymes EP\Pour Over Will Allan.wpd
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