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The Last Will and Testament of
Joseph P. DiMaggio
I, JOSEPH P. DIMAGGIO, of the City of Hollywood,
County of Broward and State of Florida, being of sound
and disposing mind and memory do hereby make, publish and
declare this to be my Last Will and Testament, hereby
revoking any and all Wills and Codicils by me heretofore
made.
ARTICLE I
STATEMENT ON FAMILY MEMBERS
I am not married, and I have one adult child and two
(2) grandchildren, to wit: my son, JOSEPH PAUL
DIMAGGIO, JR., and my grandchildren, KATHERINE MARIE
DIMAGGIO and PAULA SUE DIMAGGIO, both of whom are adopted
children of my said son.
ARTICLE II
PAYMENT OF DEBTS, TAXES AND COSTS OF ADMINISTRATION
I direct that all estate, inheritance, succession and
other death taxes of any nature, together with any
interest and penalties thereon, which may be levied or
assessed by reason of my death by the laws of any state
or of the United States with respect to property passing
under this Will or any other property shall be considered
a cost of administration of my estate, and that such
taxes, together with all debts which I am legally
obligated to pay at the time of my death, my last illness
and funeral expenses and other costs of administration of
my estate, shall be paid out of my residuary estate. In
the event my residuary estate is insufficient to pay such
debts, expenses, costs and taxes, I direct that the
amount thereof in excess of residuary estate shall be
paid from other assets in the order provided by law. I
authorize my Personal Representative to pay any and all
of my debts which it feels, in its sole judgment and
discretion, to be just and reasonable without the
necessity of a formal claim being filed in the court by
the creditor; provided, however, that my Personal
Representative shall file its sworn statement with the
court as to such debts paid within the prescribed time
provided by law.
I authorize my Personal Representative to spend such
sums for funeral expenses, the acquisition of a burial
site, the erection of a suitable headstone or monument
over my grave and for the perpetual care of my grave as
he may think proper, without regard to any provisions of
law limiting such expenditures.
ARTICLE III
CASH BEQUESTS
I hereby give and bequeath the sum of One Hundred
Thousand Dollars ($100,000) to my nephew, JOSEPH DIMAGGIO
(son of my deceased brother, MIKE DIMAGGIO).
ARTICLE IV
BEQUEST OF TANGIBLE PERSONAL PROPERTY
A. I hereby give and bequeath to my granddaughter,
PAULA SUE DIMAGGIO, outright, if living, any and all
tangible personal property, (excluding cash, stocks,
bonds and real estate) which I may own at the time of my
death. This bequest includes, but is not limited to,
household furnishings, silverware, china or linens,
automobiles and jewelry together with all the prepaid
insurance policies on the above items. If PAULA SUE
DIMAGGIO shall not survive me, then I give, devise and
bequeath to her surviving issue, in equal shares per
stirpes, all my tangible personal property (excluding
cash, stocks, bonds and real estate) which I may own at
the time of my death. This bequest includes, but is not
limited to, household furnishings, silverware, china or
linens, automobiles and jewelry together with all
prepared insurance policies on the above items.
B. Alternate Bequest. If there is no living
issue of PAULA SUE DIMAGGIO, then I bequeath any and all
of my tangible personal property to my granddaughter,
KATHERINE MARIE DIMAGGIO, outright, if living, if not,
then to her issue, in equal shares, per stirpes. My
granddaughter's issue shall divide such property among
themselves amicably if able to do so; otherwise, my
Personal Representative shall make the division in any
manner deemed advisable, and the decisions of my Personal
Representative shall be final and binding on all
concerned.
If any beneficiary should be under the age of eighteen
(18) years at the time distribution is required to be
made to him or her under this Article of my Last Will and
Testament, my Personal Representative is authorized to
distribute such beneficiary's portion of this property to
any suitable person selected by them, to be free of
trust, for distribution to such beneficiary when he or
she reaches his or her majority, and a receipt of such
person shall constitute a complete acquittance to my
Personal Representative.
C. Any property that is not distributed under
this Article because the named beneficiary does not
survive me, shall pass under and be distributed as part
of residuary estate.
ARTICLE V
YANKEE CLIPPER ENTERPRISES, INC.
I hereby direct that my Personal Representative
liquidate the corporation, YANKEE CLIPPER ENTERPRISES,
INC., of which I owe one hundred percent (100%) of the
outstanding stock as soon after ny death as possible. My
personal Representative shall have the power to appoint
directors and officers of YANKEE CLIPPER ENTERPRISES,
INC. to effectuate the necessary liquidation of the
corporation. I direct that all real estate owned by the
corporation be sold as soon as possible after my death. I
direct that the assets of the Corporation on liquidation
be distributed to my residuary estate pursuant to the
terms and conditions thereof.
ARTICLE VI
GREAT GRANDCHILDREN'S TRUSTS
I give, devise and bequeath the following:
(A) The sum of Two Hundred Fifty Thousand Dollars
($250,000) to my Trustees IN TRUST, for the following
uses and purposes, said Trust to be know as the KENDAHL
R. STEIN TRUST:
(1) Use of Income. My Trustee shall
distribute all of the net income of the Trust on a
monthly or more convenient basis, but at least
quarterly, to or for the benefit of my great
granddaughter, KENDAHL R. STEIN.
While any beneficiary is under the age of
twenty-one (21), the Trustee shall use so much of the
income of her fund for her reasonable support,
comfort and education, as the Trustee determines to
be required for these purposes. After she attains the
age of twenty-one (21), the Trustee shall pay all of
the current net income of her fund for her.
(2) Discretionary Distribution of Principal.
In addition, my Trustee may distribute to or for the
benefit of my great granddaughter, KENDAHL R. STEIN ,
from her Trust, so much of the principal of the Trust
as may be needed for her proper maintenance, support,
education, health and welfare. Said distribution
shall be at the sole and absolute discretion of my
Trustee and any such distribution made by my Trustee
shall be final and binding upon all persons
whomsoever, and my Trustee shall be liable only for
their acts or gross negligence and willful
misconduct. The decision of my Trustee shall not be
questioned by any beneficiary.
(3) Mandatory Distribution of Principal. My
Trustee shall distribute to my great granddaughter,
KENDAHL R. STEIN, from her separate Trust one-third
(1/3) of the principal of her fund at the age of
thirty (30). When my granddaughter shall have
attained the age of thirty-five(35) years, the
Trustee shall distribute to her one-half (1/2) of the
remaining principal of her fund. When my
granddaughter shall have attained the age of forty
(40) years, the Trustee shall distribute to her the
balance of the funds.
(4) Death of Great Grandchild. Should my
great granddaughter, KENDAHL R. STEIN, die before her
separate Trust has been distributed absolutely to
her, the then remaining principal of such Trust shall
be distributed to her issue, in equal shares, per
stirpes, and if none, then to her brother, MITCHELL
J. STEIN, if living, and if not, then to her
brother's issue, in equal shares, per stirpes. Any
portion thereof so divided and set apart for any
issue who is the beneficiary of a separate trust
hereunder which has not yet been fully distributed
shall be added to the principal of such trust and
managed and distributed as a part thereof under the
terms of this Article; and any portion thereof set
apart for any issue who is the beneficiary of a
separate trust hereunder which has been fully
distributed shall be distributed absolutely to such
issue.
(B) The sum of Two Hundred Fifty Thousand Dollars
($250,000) to my Trustees, IN TRUST, for the following
uses and purposes, said Trust to be know as the MITCHELL
J. STEIN TRUST:
(1) Use of Income. My Trustee shall
distribute all of the net income of the Trust on a
monthly or more convenient basis, but at least
quarterly, to or for the benefit of my great
granddaughter, MITCHELL J. STEIN.
While any beneficiary is under the age of
twenty-one (21), the Trustee shall use so much of the
income of his fund for his reasonable support,
comfort and education, as the Trustee determines to
be required for these purposes. After he attains the
age of twenty-one (21), the Trustee shall pay all of
the current net income of his fund to him.
(2) Discretionary Distribution of Principal.
In addition, my Trustee may distribute to or for the
benefit of my great grandson, MITCHELL J. STEIN, from
his Trust, so much of the principal of the Trust as
may be needed for his proper maintenance, support,
education, health and welfare. Said distribution
shall be at the sole and absolute discretion of my
Trustee and any such distribution made by my Trustee
shall be final and binding upon all persons
whomsoever, and my Trustee shall be liable only for
their acts or gross negligence and willful
misconduct. The decision of my Trustee shall not be
questioned by any beneficiary.
(3) Mandatory Distribution of Principal. My
Trustee shall distribute to my great grandson,
MITCHELL J. STEIN, from his separate Trust one-third
(1/3) of the principal of his fund at the age of
thirty (30). When my grandson shall have attained the
age of thirty-five(35) years, the Trustee shall
distribute to him one-half (1/2) of the remaining
principal of his fund. When my grandson shall have
attained the age of forty (40) years, the Trustee
shall distribute to him the balance of the funds.
(4) Death of Great Grandchild. Should my
great grandson, MITCHELL J. STEIN, die before his
separate Trust has been distributed absolutely to
him, the then remaining principal of such Trust shall
be distributed to his issue, in equal shares, per
stirpes, and if none, then to his sister brother,
KENDAHL R. STEIN, if living, and if not, then to his
sister's issue, in equal shares, per stirpes. Any
portion thereof so divided and set apart for any
issue who is the beneficiary of a separate trust
hereunder which has not yet been fully distributed
shall be added to the principal of such trust and
managed and distributed as a part thereof under the
terms of this Article; and any portion thereof set
apart for any issue who is the beneficiary of a
separate trust hereunder which has been fully
distributed shall be distributed absolutely to such
issue.
(A) The sum of Five Hundred Thousand Dollars
($500,000) to my Trustees, IN TRUST, for the following
uses and purposes, said Trust to be know as the VALERIE
F. HAMRA TRUST:
(1) Use of Income. My Trustee shall
distribute all of the net income of the Trust on a
monthly or more convenient basis, but at least
quarterly, to or for the benefit of my great
granddaughter, VALERIE F. HAMRA .
While any beneficiary is under the age of
twenty-one (21), the Trustee shall use so much of the
income of her fund for her reasonable support,
comfort and education, as the Trustee determines to
be required for these purposes. After she attains the
age of twenty-one (21), the Trustee shall pay all of
the current net income of her fund for her.
(2) Discretionary Distribution of Principal.
In addition, my Trustee may distribute to or for the
benefit of my great granddaughter, VALERIE F. HAMRA,
from her Trust, so much of the principal of the Trust
as may be needed for her proper maintenance, support,
education, health and welfare. Said distribution
shall be at the sole and absolute discretion of my
Trustee and any such distribution made by my Trustee
shall be final and binding upon all persons
whomsoever, and my Trustee shall be liable only for
their acts or gross negligence and willful
misconduct. The decision of my Trustee shall not be
questioned by any beneficiary.
(3) Mandatory Distribution of Principal. My
Trustee shall distribute to my great granddaughter,
VALERIE F. HAMRA, from her separate Trust one-third
(1/3) of the principal of her fund at the age of
thirty (30). When my granddaughter shall have
attained the age of thirty-five (35) years, the
Trustee shall distribute to her one-half (1/2) of the
remaining principal of her fund. When my
granddaughter shall have attained the age of forty
(40) years, the Trustee shall distribute to her the
balance of the funds.
(4) Death of Great Grandchild. Should my
great granddaughter, VALERIE F. HAMRA, die before her
separate Trust has been distributed absolutely to
her, the then remaining principal of such Trust shall
be distributed to her issue, in equal shares, per
stirpes, and if none, then to her sister VANESSA S.
HAMRA, if living, and if not, then to her sister's
issue, in equal shares, per stirpes. Any portion
thereof so divided and set apart for any issue who is
the beneficiary of a separate trust hereunder which
has not yet been fully distributed shall be added to
the principal of such trust and managed and
distributed as a part thereof under the terms of this
Article; and any portion thereof set apart for any
issue who is the beneficiary of a separate trust
hereunder which has been fully distributed shall be
distributed absolutely to such issue.
(A) The sum of Five Hundred Thousand Dollars
($500,000) to my Trustees, IN TRUST, for the following
uses and purposes, said Trust to be know as the VANESSA
S. HAMRA TRUST:
(1) Use of Income. My Trustee shall
distribute all of the net income of the Trust on a
monthly or more convenient basis, but at least
quarterly, to or for the benefit of my great
granddaughter, VANESSA S. HAMRA .
While any beneficiary is under the age of
twenty-one (21), the Trustee shall use so much of the
income of her fund for her reasonable support,
comfort and education, as the Trustee determines to
be required for these purposes. After she attains the
age of twenty-one (21), the Trustee shall pay all of
the current net income of her fund for her.
(2) Discretionary Distribution of Principal.
In addition, my Trustee may distribute to or for the
benefit of my great granddaughter, VANESSA S. HAMRA ,
from her Trust, so much of the principal of the Trust
as may be needed for her proper maintenance, support,
education, health and welfare. Said distribution
shall be at the sole and absolute discretion of my
Trustee and any such distribution made by my Trustee
shall be final and binding upon all persons
whomsoever, and my Trustee shall be liable only for
their acts or gross negligence and willful
misconduct. The decision of my Trustee shall not be
questioned by any beneficiary.
(3) Mandatory Distribution of Principal. My
Trustee shall distribute to my great granddaughter,
VANESSA S. HAMRA , from her separate Trust one-third
(1/3) of the principal of her fund at the age of
thirty (30). When my granddaughter shall have
attained the age of thirty-five (35) years, the
Trustee shall distribute to her one-half (1/2) of the
remaining principal of her fund. When my
granddaughter shall have attained the age of forty
(40) years, the Trustee shall distribute to her the
balance of the funds.
(4) Death of Great Grandchild. Should my
great granddaughter, VANESSA S. HAMRA , die before
her separate Trust has been distributed absolutely to
her, the then remaining principal of such Trust shall
be distributed to her issue, in equal shares, per
stirpes, and if none, then to her sister VALERIE F.
HAMRA, if living, and if not, then to her sister's
issue, in equal shares, per stirpes. Any portion
thereof so divided and set apart for any issue who is
the beneficiary of a separate trust hereunder which
has not yet been fully distributed shall be added to
the principal of such trust and managed and
distributed as a part thereof under the terms of this
Article; and any portion thereof set apart for any
issue who is the beneficiary of a separate trust
hereunder which has been fully distributed shall be
distributed absolutely to such issue.
ARTICLE VII
RESIDUARY ESTATE
All of the rest, residue and remainder of my estate of
every kind, nature and sort whatsoever, real personal or
mixed, legal or equitable and wheresoever situated, which
I may own, possess, hold or be seized of or entitled to,
or over which I have any power of appointment at the time
of my death, together with the income, rents, profits,
interest and increments thereof, which may arise or
accrue therefrom, I give, devise and bequeath as follows:
A. Forty-five percent (45%) to the JOSEPH PAUL
DIMAGGIO, JR., TRUST to be held, IN TRUST, by my Trustees
hereinafter named, for the following uses and purposes:
(1) Use of Income. My Trustee shall
distribute the total amount sum of Twenty Thousand
Dollars ($20,000) of the net income of the Trust on a
monthly or more convenient basis, but at least
quarterly, to my son, JOSEPH PAUL DIMAGGIO, JR. All
net income in excess of Twenty Thousand Dollars
($20,000.00) shall be accumulated and added to the
principal of the Trust. Notwithstanding the fair
market value of the assets of his Trust, this
provision as to the net income must be strictly
adhered to.
(2) Discretionary Distribution of Principal.
In addition, my Trustee may distribute to or for the
benefit of my son, from his Trust, so much of the
principal of the Trust as may be needed for his
proper maintenance, support, health and welfare. Said
distribution shall be at the sole and absolute
discretion of my Trustee and any such distribution
made by my Trustee shall be liable only for their
acts or gross negligence and willful misconduct. The
decision of my Trustee shall not be questioned
by any beneficiary.
(3) General Power of Appointment. Upon the
death of my son, JOSEPH P. DIMAGGIO, JR., all of the
remaining principal and accumulated income of the
JOSEPH P. DIMAGGIO, JR. TRUST shall be distributed as
my son, JOSEPH P. DIMAGGIO, JR., may appoint by his
Will and by specific reference to this Power of
Appointment. The Appointment may be made only to
discharge his personal legal obligations owing at his
death. Any property that remains in the Trust at the
death of my son that has not been appointed by his
Will in accordance with the above power vested in him
shall be used to pay such portion of the estate taxes
payable upon his estate but not more than the
difference between the amount of those taxes that
would be payable upon his taxable estate exclusive of
the value of this trust and the amount of the taxes
payable.
(4) Distribution Upon Death of Son if Power of
Appointment is Not Exercised. In the default of
effective exercise of the above-referenced General
Power of Appointment, the remaining principal shall
be distributed as follows:
(a) Thirty percent (30%) to the KATHERINE MARIE
DIMAGGIO TRUST created under this my Last Will and
Testament.
(b) Seventy percent (70%) to the PAULA SUE
DIMAGGIO TRUST created under this my Last Will and
Testament.
B. Fifteen percent (15%) to the KATHERINE MARIE
DIMAGGIO TRUST, to be held, IN TRUST, by my Trustees
hereinafter named, for the following uses and purposes:
(1) Use of Income. My Trustee shall
distribute all of the net income to or for the
benefit of my granddaughter, KATHERINE MARIE
DIMAGGIO, from her Trust on a monthly or more
convenient basis, but at least quarterly.
(2) Discretionary Distribution of Principal.
In addition, my Trustee may distribute to or for the
benefit of my granddaughter, KATHERINE MARIE
DIMAGGIO, from her Trust, so much of the principal of
the Trust, so much of the principal of the Trust as
may be needed for per proper maintenance, support,
education, health and welfare. Said distribution
shall be at the sole and absolute discretion of my
Trustee and any such distribution made by my Trustee
shall be final and binding upon all persons
whomsoever, and my Trustee shall be liable only for
their acts or gross negligence and willful
misconduct. The decision of my Trustee shall not
be questioned by any beneficiary.
(3) General Power of Appointment. Should my
granddaughter, KATHERINE MARIE DIMAGGIO, die before
her separate Trust has been distributed absolutely to
her, the then remaining principal of such Trust shall
be distributed, upon the death of my granddaughter as
she may appoint by her Will and by specific reference
to this Power of Appointment. The appointment may be
made only to discharge her personal legal obligations
owing at her death. Any property that remains in the
Trust at the death of my granddaughter that has not
been appointed by her Will in accordance with the
above power vested in her shall be used to pay such
portion of the estate taxes payable upon her estate
as may be requested by the Personal Representative of
her estate but not more than the difference between
the amount of those taxes that would be payable upon
her taxable estate exclusive of the value of this
Trust and the amount of the taxes payable.
(4) Distribution Upon Death of Granddaughter if
Power of Appointment is Not Exercised. In the
default of effective exercise of the above-referenced
General Power of Appointment, the remaining principal
shall be distributed to her living issue, per
stirpes, subject to the same terms and provisions of
the Trusts created for her children's benefits in
Article VII of this, my Last Will and Testament. In
the event there are no such issue then living, the
then remaining principal of the separate trust of my
deceased granddaughter shall be distributed to the
PAULA SUE DIMAGGIO TRUST. Any portion thereof so
divided and set apart for any issue who is the
beneficiary of a separate trust hereunder which has
not yet been fully distributed shall be added to the
principal of such trust and held in further trust and
managed and distributed as a part thereof under the
terms of this Article; and any portion thereof set
apart for any issue who is the beneficiary of a
separate trust hereunder which has been fully
distributed shall be distributed absolutely to such
issue.
C. Forty percent (40%) to the PAULA SUE DIMAGGIO
TRUST, to be held, IN TRUST by my Trustees hereinafter
named, for the for the following uses and purposes:
(1) Use of Income. My Trustee shall
distribute all of the net income to or for the
benefit of my granddaughter, PAULA SUE DIMAGGIO, from
her Trust on a monthly or more convenient basis, but
at least quarterly.
(2) Discretionary Distribution of Principal.
In addition, my Trustee may distribute to or for the
benefit of my granddaughter, PAULA SUE DIMAGGIO, from
her Trust, so much of the principal of the Trust as
may be needed for her proper maintenance, support,
education, health and welfare. Said distribution
shall be at the sole and absolute discretion of my
Trustee and any such distribution made by my Trustee
shall be final and binding upon all persons
whomsoever, and my Trustee shall be liable only for
their acts or gross negligence and willful
misconduct. The decision of my Trustee shall not
be questioned by any beneficiary.
(3) General Power of Appointment. Should my
granddaughter, PAULA SUE DIMAGGIO, die before her
separate Trust has been distributed absolutely to
her, the then remaining principal of such Trust shall
be distributed, upon the death of my granddaughter as
she may appoint by her Will and by specific reference
to this Power of Appointment. The appointment may be
made only to discharge her personal legal obligations
owing at her death. Any property that remains in the
Trust at the death of my granddaughter that has not
been appointed by her Will in accordance with the
above power vested in her shall be used to pay such
portion of the estate taxes payable upon her estate
as may be requested by the Personal Representative of
her estate but not more than the difference between
the amount of those taxes that would be payable upon
her taxable estate exclusive of the value of this
Trust and the amount of the taxes payable.
(4) Distribution Upon Death of Granddaughter if
Power of Appointment is Not Exercised. In the
default of effective exercise of the above-referenced
General Power of Appointment, the remaining principal
shall be distributed to her living issue, per
stirpes, subject to the same terms and provisions of
the Trusts created for her children's benefit in
Article VII of this, my Last Will and Testament. In
the event there are no such issue then living, the
then remaining principal of the separate trust of my
deceased granddaughter shall be distributed to the
KATHERINE MARIE DIMAGGIO TRUST. Any portion thereof
so divided and set apart for any issue who is the
beneficiary of a separate trust hereunder which has
not yet been fully distributed shall be added to the
principal of such trust and held in further trust and
managed and distributed as a part thereof under the
terms of this Article; and any portion thereof set
apart for any issue who is the beneficiary of a
separate trust hereunder which has been fully
distributed shall be distributed absolutely to such
issue.
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