HomeMy WebLinkAbout979861CERTIFICATION OR AFFIDAVIT OF TRUST
STATE OF WYOMING
COUNTY OF LINCOLN
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11111111111 Illl II
III
Gene White Warren
4564 County Road 125
Freedom, WY 83120
Deloris Warren Smith
6868 South Old Hwy. 91
McCammon, ID 83250
11 1111
The undersigned, pursuant to Wyo. Stat. §4 -10 -1014, under oath and being duly sworn,
states as follows:
1. The following trust is the subject of this Affidavit:
Deola W. Warren Revocable Trust dated April 28, 2008
(hereinafter the "Trust
2. Deola W. Warren is the settlor of the Trust.
3. The Trust currently exists and is in full force and effect. The Trust has not been
revoked, modified or amended in any manner that would cause the representations contained
herein to be incorrect.
4. The identity and address of the currently acting trustee of the Trust is:
In the event Gene White Warren is no longer able or willing to serve as trustee then the
following individual /entity shall serve as successor trustee:
5. Title to Trust property shall be taken in the name of the acting Trustee of the
Deola W. Warren Revocable Trust dated April 28, 2008, by way of example as follows:
Gene White Warren, Trustee of the Deola W. Warren Revocable
Trust dated April 28, 2008
Or, if required, may be condensed as follows:
Gene White Warren, Tee U/A 4/28/08
979861 12/29/2014 10:23 AM
LINCOLN COUNTY FEES: $51.00 PAGE 1 OF 14
BOOK: 845 PAGE: 497 AFFIDAVIT
JEANNE WAGNER LINCOLN COUNTY CLERK
Certification or Affidavit of Trust
Page 1 of 2
11111
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III
111 1111
6. Attached to this Affidavit and incorporated herein are selected provisions of the
Trust evidencing the following:
a. Provisions regarding creation of Trust
b. Trustee appointments and powers
c. Signature page
7. The Trust provisions which are not attached to this Affidavit are of a personal
nature and set forth the distribution of Trust property. They do not modify the powers of the
Trustees.
8. The signatory of this Affidavit is currently the acting Trustee of the Trust and
declares that the foregoing statements and the attached Trust provisions are true and correct,
under penalty of perjury.
This Affidavit is dated December 2, 2014.
Gene White Warren
The foregoing instrument was acknowledged before me by Gene White Warren, this jg
day of D cember, 2014. Witness my hand and official seal. My commission expires:
Ap /3
seal
LuAnn Hyde-Corum NOTARY PUBLIC
COUNTY OF STATE OF
LINCOLN tifi;W WYOMING
MY COMMISSION WIRES FEBRUARY 7, 2015
Certification or Affidavit of Trust
Page 2 of 2
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Nifty. Sad i Morton P.C.
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Trust.
DEOLA W. WARREN REVOCABLE TRUST
THIS IS A TRUST AGREEMENT (the "Agreement dated this_ 28" day of April, 2008,
between Deola W. Warren (the "Settlor and the Settlor, as trustee (the "Trustee
WHEREAS, the Settlor desires to create a trust, and the Trustee is willing to accept the trust
hereby created;
WHEREAS, the Settlor intends to transfer property to the Trustee, IN TRUST, and the
Trustee agrees to accept the property and to hold, manage and distribute the property under the terms
of this Agreement;
Article 1
Trust Name
This Agreement and the trusts hereunder may be referred to as Deola W. Warren Revocable
Article 2
Trust Provisions During Lifetime
During the Settlor's life, any property held under this Agreement shall be disposed of as
follows:
2.1. Distributions. The Trustee shall distribute to the Settlor as much of the net income
and principal of the trust as the Settlor may from time to time direct in writing, and such additional
amounts of net income or principal as the Trustee may from time to time determine.
2.2. Undistributed Income. Any net income not so distributed shall be accumulated and
annually added to principal.
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Trustee shall not be liable for any loss to my estate or to any beneficiary resulting
from any decision made in good faith that there is uncertainty as to the inclusion of
particular property in my gross estate. The decision of my Trustee as to the date
which should be selected for the valuation of property in my gross estate for federal
estate tax purposes shall be conclusive on all concerned.
11.1.3. When a choice is available as to whether certain deductions shall be taken as
income tax deductions or estate tax deductions, the decision of my Trustee in this
regard shall be conclusive on all concerned; and my Trustee shall not be required to
make any adjustments between income or principal or among the interests of my
heirs and beneficiaries by reason of such decision.
11.1.4. Real, personal and mixed property subject to any debt which at my death shall
be a lien upon the property or which is secured by a lien thereon may be distributed
to the Trustee and later distributed by the Trustee to any beneficiary, subject to such
liens, provided that installments of such indebtedness coming due during probate or
during the trust shall be paid by the Trustee from the income from the property, and,
if this be insufficient, from other income of assets of my estate or of the Trust.
12.1. Trustee Appointments.
12.1.1. A Trustee who is a party to this Agreement shall serve as Trustee of each trust
under this Agreement except where this article or some other provision of this
Agreement specifically provides otherwise,
12.2. Other Trustees.
Article 12
Trustees
12.2.1. I appoint Gene White Warren to be the Trustee when all persons previously
named cease to qualify or cease to act.
12.2.2. I appoint Deloris Warren Smith to be the Trustee when all persons previously
named cease to qualify or cease to act.
12.2.3. Except as may be expressly provided elsewhere in this Agreement, Trustees
shall be entitled to serve based on the following rules:
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12.2.3.1.
entitled to serve,
first, each Trustee who is a party to this Agreement shall be
second, any successor Trustee named by me in this Agreement
shall be entitled to serve; multiple successor Trustees named by me shall be entitled
to serve in the order in which they have been named by me,
12.2.3.3. third, a then serving Co- Trustee effectively appointed by
another Trustee shall be entitled to continue serving,
12.2.3.4. fourth, a successor Trustee effectively appointed by another
Trustee, shall be entitled to serve.
12.2.3.5. In the event that the sole Trustee of a trust is a beneficiary of
the trust, the Trustee may appoint but shall not be required to appoint a Co- Trustee
as provided herein. A beneficiary's interest may not be merged or converted into a
legal life estate or estate for years because the beneficiary is the sole Trustee, but if
this would still happen under applicable law, then a Co- Trustee shall be appointed
in preference to such merger or conversion.
12.3. Additional Provisions Regarding Changes in Fiduciaries.
12.3.1. Any Trustee may resign at any time without court approval and whether or
not a successor has been appointed.
12.3.2. Each individual Trustee--(iricluding successors) shall have the right to appoint
a successor individual Trustee by an instrument in writing, such appointment to take
effect upon the death, resignation or incapacity of the appointing Trustee. An
appointment may be changed or revoked until it takes effect. If I have named a
successor or successors to the appointing Trustee in this Agreement, the appointment
of a successor under this paragraph shall take effect only if and when all Trustees that
I have appointed fail to qualify or cease to act.
12.3.3. The individuals (and any corporation) acting as the Trustee may at any time
acting unanimously by written instrument appoint an individual ora corporation with
fiduciary powers as a Co- Trustee.
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12.3.4. If the office of Trustee of a trust is vacant, and no successor takes office
pursuant to any other provision of this Agreement, an individual or corporation with
fiduciary powers may be appointed as Trustee by a majority of my adult descendants
then living and competent.
12.4. Accountings Other Proceedings. I direct that any trust hereunder be subject to
independent administration with as little court supervision as the law allows. The Trustee shall not
be required to render to any court annual or other periodic accounts, or any inventory, appraisal, or
other returns or reports, except as required by applicable state law. The Trustee shall take such
action for the settlement or approval of accounts at such times and before such courts or without
court proceedings as the Trustee shall determine. The Trustee shall pay the costs and expenses of
any such action or proceeding, including (but not limited to) the compensation and expenses of
attorneys and guardians, out of the property of the trust. The Trustee shall not be required to register
any trust hereunder.
12.5. Governing Law and Trustee Powers. The interpretation and operation of the trust
shall be govemed by the laws of the State of Wyoming. The Trustee may, without prior authority
from any court, exercise all powers conferred by this Agreement or by common law or by any
fiduciary powers act or other statute of the State of Wyoming or any other jurisdiction whose law
applies to the Trust. The Trustee shall have absolute discretion in exercising these powers. Except
as specifically limited by this Agreement, these powers shall extend to all property held by the
Trustee until actual distribution of the property. The powers of the Trustee shall include the
following:
12.5.1. The Trustee may determine what property is covered by general descriptions
contained in this Agreement.
12.5.2. The Trustee may make any election available under the tax laws in such
manner as the Trustee shall determine, including any election to treat this revocable
trust as part of my estate for income tax purposes, even though a Trustee may have
an interest affected by the election, except where a Trustee is prohibited from
participating in the election by another provision of this Agreement.
12.5.3. The Trustee may retain any property originally owned by me, and invest and
reinvest in all forms of real and personal property, whether inside or outside the
United States, including without limitation, common trust funds of a corporate
Trustee, mutual funds, partnerships (including a partnership in which a Trustee is a
partner), and other forms of joint investment (which may but need not be managed
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by, advised by. or affiliated with a Trustee), without regard to any principle of law
limiting delegation of investment responsibility by Trustees.
12.5.4. The Trustee may compromise claims or debts and abandon or demolish any
property which the Trustee shall determine to be of little or no value.
12.5.5. The Trustee may sell property at public or private sale, for cash or upon
credit, exchange property for other property, lease property for any period of time,
and give options of any duration for sales, exchanges or leases.
12.5.6. The Trustee may join in any merger, reorganization, voting -trust plan or other
concerted action of security holders, and delegate discretionary powers (including
investment powers) in entering into the arrangement.
12.5.7. The Trustee may borrow from anyone, even if the lender is a Trustee under
this Agreement, and may pledge property as security for repayment of the funds
borrowed, including the establishment of a margin account. No Trustee shall be
personally liable for any such loan, and such loan shall be payable only out of assets
of the trust.
12.5.8. The Trustee may apply to the use of any individual, any property, whether
principal or income, that otherwise would or could be distributed directly to such
individual.
12.5.9. The Trustee may, with respect to any real property: (i) partition, subdivide
or improve such property and enter into agreements concerning the partition,
subdivision, improvement, zoning or management of any real estate in which a trust
hereunder has an interest and impose or extinguish restrictions on any such real
estate; (ii) sell, exchange, lease for any period, mortgage, alter, or otherwise dispose
of such property and execute any instrument necessary to do that; and (iii) charge to
principal the net loss incurred in operating or carrying non income producing real
property.
12.5.10. The Trustee may acquire, hold and maintain as a part of each trust
hereunder any and all articles of tangible personal property or any other property
whether productive, underproductive or unproductive of income, and without any
duty to convert such property to productive property and sell such property and apply
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the net proceeds of sale to the purchase of such other property as the Trustee, in the
exercise of sole and absolute discretion, deem suitable for the purpose.
12.5.11. The Trustee may hold two or more trusts hereunder as a combined
fund (allocating ratably to such trusts all receipts from, and expenses of, the
combined fund) for convenience in investment and administration, but no
combination of trusts for this purpose may alter their status as separate trusts.
12.5.12. The Trustee may consolidate any trust for a descendant with another
trust having identical terms and the same trustee (whether or not under this
Agreement) and administer the two as one trust, provided that each portion of the
consolidated trust shall terminate and vest in possession no later than the date
required for the separate trust from which it came.
12.5.13. The Trustee may, with respect to rights or interests in oil, natural gas,
minerals, and other natural resources (together with related equipment), including oil
and gas royalties and leases, whether owned in fee, as lessee, lessor, licensee,
concessionaire, or otherwise, or alone or jointly as partner, joint tenant, joint venturer
or in any other noncorporate manner: (i) drill, test, explore, maintain, develop and
otherwise exploit, either alone or jointly with others, any such rights or interests; (ii)
enter into operation, farm -out, pooling or unitization agreements in connection with
any or all of such rights and interests; and (iii) extract, remove. process, convert,
retain, store, sell, or exchange such rights and interests and the production therefrom,
all in any manner, to any extent, on any terms and for any consideration.
12.5.14. The Trustee may divide any trust into two or more separate trusts and
administer them as separate trusts, either before or after the trust is funded, to enable
GST Exemption to be allocated separately to one of the trusts, or to enable the
election under Code Sec. 2652(a)(3) to be made separately over one of them, or
otherwise to make possible a separate trust with a zero inclusion ratio, or because the
trusts have different transferors for GST purposes, or for any other purpose. Any
such division shall be by fractional shares and each share shall participate pro rata
in income, appreciation, and depreciation to the time of division. Any relevant
pecuniary amount (such as the obligation to pay an annuity, or the right to withdraw
that amount referred to in Code Sec. 2514(e)(1) (currently, five thousand dollars
($5,000.00)) shall be applied pro rata to the separate trusts based on the fractional
shares into which they are divided.
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12.5.15. The Trustee may make loans to, and buy property from, my estate or
the trustee of any trust subject to any wealth transfer tax upon my death, regardless
of the fact that one or more or all of the persons serving as Trustee hereunder are also
serving as a selling or borrowing fiduciary; provided that such loans shall be for
adequate interest and shall be adequately secured and such purchases shall be for fair
market value.
12.5.16. The Trustee may employ and rely upon advice given by accountants,
attorneys, investment bankers, and other expert advisers, and employ agents, clerks
and other employees, and pay reasonable compensation to such advisors or
employees in addition to fees otherwise payable to the Trustee, notwithstanding any
rule of law otherwise prohibiting such dual compensation.
12.5.17. The Trustee may accept or decline to accept additions from any
source.
12.6. Additional General Provisions Regarding Fiduciaries.
12.6.1. "Interested Trustee" means for any trust a trustee who is (i) a transferor of
property to the trust, including a person whose qualified disclaimer resulted in
property passing to the trust; or (ii) a person who is or in the future may be eligible
to receive income or principal pursuant to the terms of the trust. A Trustee described
in (i) is an Interested Trustee only with respect to the transferred property (including
income and gain on, and reinvestment of, such property). A person is described in
(ii) even if he or she has a remote contingent remainder interest, but is not described
in (ii) if the person's only interest is as a potential appointee under a Non Fiduciary
Power of appointment held by another person the exercise of which will take effect
only in the future, such as a testamentary power held by a living person. A trustee
who is not an Interested Trustee is a "Disinterested Trustee."
12.6.2. Except to the extent specifically provided otherwise in this Agreement,
references to the Trustee shall, in their application to a trust hereunder, refer to all
those from time to time acting as Trustees of that trust and if two or more Trustees
are eligible to act on a given matter they shall act by majority.
12.6.3. Individual Trustees shall receive compensation in accordance with the laws
of the State of Wyoming in effect at the time of payment, unless the Trustee waives
compensation. A corporate Trustee shall be compensated by agreement with the
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individual Trustee or in the absence of such agreement in accordance with its fee
schedule as in effect at the time ofpayment. I authorize a corporate Trustee to charge
additional fees for services it provides to a trust hereunder that are not comprised
within its duties as Trustee, for example, a fee charged by a mutual fund it
administers in which a trust hereunder invests, or a fee for providing an appraisal, or
a fee for providing corporate finance or investment banking services. I also
recognize that a corporate Trustee may charge separately for some services
comprised within its duties as Trustee, for example a separate fee for investing cash
balances or preparing tax returns. Such separate charges shall not be treated as
improper or excessive merely because they are added on to a basic fee in calculating
total compensation for service as Trustee.
12.6.4. No Trustee shall be liable to anyone for anything done or not done by any
other Trustee or by any beneficiary.
12.6.5. The Trustee may employ and rely upon advice given by investment counsel,
delegate discretionary investment authority over investments to investment counsel,
and pay investment counsel reasonable compensation in addition to fees otherwise
payable to the Trustee, notwithstanding any rule of law otherwise prohibiting such
dual compensation. The Trustee may acquire and retain investments that present a
higher degree of risk than would normally be authorized by the applicable rules of
fiduciary investment and conduct. No investment, no matter how risky or
speculative, shall be absolutely prohibited, so long as prudent procedures are
followed in selecting and retaining the investment and the investment constitutes a
prudent percentage of the trust. The Trustee may but need not favor retention of
assets originally owned by me. The Trustee shall not be under any duty to diversify
investments regardless of any rule of law requiring diversification. The Trustee may
retain and acquire property that does not produce income, subject to any restrictions
or qualifications of this power set forth elsewhere in this Agreement.
12.6.6. No state law restraint on acts of self dealing by a fiduciary shall apply to a
Trustee who is a descendant of mine. Except when prohibited by another provision
of this Agreement, such a Trustee may enter into transactions on behalf of a trust
hereunder in which that Trustee is personally interested so long as the terms of such
transaction are fair to the trust. For example, such a Trustee may purchase property
from the trust at its fair market value without court approval.
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12.6.7. If I have given the Trustee discretion concerning distributions of income or
principal, that discretion shall be absolute and uncontrolled, and subject to correction
by a court only if the Trustee should act utterly without reason, or in bad faith, or in
violation of specific provisions of this Agreement. If I have set forth general
guidelines (as opposed to directions or dollar limits) for the Trustee in making
distributions, those guidelines shall be merely suggestive and shall not create an
enforceable standard whereby a distribution could be criticized or compelled. It is
my strong belief that the Trustee will be in the best position to interpret and carry out
the intentions expressed herein under changing circumstances. This paragraph shall
not, however, apply to any standards framed in terms of health, education and support
(including support in an accustomed manner ofliving) or maintenance as those words
shall create an ascertainable standard for federal tax purposes when applied to a
trustee's power or a power held individually, although even in those cases the holder
of the power shall have as much discretion as is consistent therewith. An Interested
Trustee may exercise discretion to make distributions to himself or herself subject to
an ascertainable standard notwithstanding any contrary rule of law.
12.6.8. Notwithstanding any other provisions of this Agreement, each trustee is
prohibited from making, voting on, or otherwise participating in any discretionary
distribution of income or principal from a trust that would discharge or substitute for
a legal obligation of that trustee, including the obligation to support a beneficiary of
the trust. Subject to that, in exercising discretion over distributions, the Trustee may
consider, or may disregard, other resources available to any beneficiary.
12.6.9. A Trustee may irrevocably release one or more powers held by the Trustee
while retaining other powers.
12.6.10. Any Trustee may delegate to a Co- Trustee any power held by the
delegating Trustee, but only if the Co- Trustee is authorized to exercise the power
delegated. A delegation may be revocable, but while it is in effect the delegating
Trustee shall have no responsibility conceming the exercise of the delegated power.
12.7. Exoneration From Security. No Trustee shall be required to give bond or other
security in any jurisdiction, and if despite this exoneration a bond is nevertheless required, no
sureties shall be required.
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14.1. Amend or Revoke. The right by an acknowledged instrument in writing to revoke
or amend this Agreement or any trust hereunder.
14.2. Remove and Appoint Trustees. The right to remove any trustee and appoint
substitute. additional or successor trustees.
14.3. Approve Investment Decisions. The right to approve the Trustee's investment
decisions, and my approval shall bind all other beneficiaries.
14.4. Approve Trustee's Conduct. The right from time to time to approve of the Trustee's
conduct (whether in connection with an accounting by the Trustee or without an accounting), and
my approval shall bind all other beneficiaries.
14.5. Insurance Policies. All rights I may have as the owner of any insurance policies
payable to the Trustee.
IN WITNESS WHEREOF, Deola W. Warren has signed and sealed this Deola W. Warren
Revocable Trust as Settlor and Trustee, and Gene White Warren in token of his acceptance of the
Trust hereby created has signed and sealed this Deola W. Warren Revocable Trust as Successor
Trustee, all as of this 28t day of April, 2008.
Deola W. Warren, Settlor
Deola W. Warren, Trustee
Gene White Warren, Successor Trustee
I, Deola W. Warren, the Settlor and Trustee, sign my name to this Deola W. Warren
Revocable Trust this 28' day of April, 2008, and being first duly sworn, do hereby declare to the
undersigned authority that I signed and executed this instrument as the Deola W. Warren Revocable
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Trust and that I signed it willingly, that I executed it as my free and voluntary act for the purposes
therein expressed, and that I am an adult person, of sound mind, and under no constraint or undue
influence.
We, 7..a.« j• e'cfts/and A R G4so, the witnesses, sign our names to this
Instrument, being first duly sworn, and do hereby declare to the undersigned authority that the
Settlor signs and executes this instrument as the Deola W. Warren Revocable Trust and that she
signs it willingly and that she executes it as her free and voluntary act for the purposes therein
expressed, and that each of us, in the presence and hearing of the Settlor, hereby signs this Deola W.
Warren Revocable Trust as witnesses to the Senior's signature and that to the best of our knowledge
the Settlor iun- adult. person. of sound mind, and under np anss int or undue influence.
witness
STATE OF WYOMING
COUNTY OF LINCOLN
Subscribed, sworn to and acknowledged before me by Deola W. Warren, Settlor and Trustee,
and subscribed and sworn to before me by/ .,cc T 44 e. gfe'- and /ar( R. g1d4 witnesses,
this 28' day of April, 2008. Witness my hand and official seal. My commission expires:
Oct s c>
SEA
SS
WADE K. IZATT 1 PUBLIC
51310 of
Wyoming
County of
Lincoln
I.,y Cenimis:.ton Expires October 5.2011
.ti
witness"
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Deola W. Warren
Notary Public
Scnlor
Witness
imeZV ss
STATE OF WYOMING
COUNTY OF LINCOLN
SS
Subscribed, sworn to and acknowledged before me by Gene White Warren, Successor
Trustee, this 28t day of April, 2008. Witness -my hand and official seal. My commission expires:
()6/ 5
WO K. :ob
PUBLIC
WAGE K. tzATT :O1NnY
er" 4
County of r.l� WW,,�og
^A�.L otary Public
l.l rc^'m cc. EyP'r •i Utlpber 5. 2011
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