HomeMy WebLinkAbout908624 RECEIVED 5/23/2005 at 11:40 AM
RECEIVING # 908624
BOOK: 585 PAGE: 878
JEANNE WAGIX ER
LINCOLN COUNTY CLERK, ~ EMMERER, WY
FILED FO!~. RECOB. D - AI~EP.~;ON CODT-~.'TY TX
L,n~ #: 050343_I on,~,~/~m~,~ at 09:04:00 .~2¥~
008?8
TERMINATION OF TRUST
By: Successor Trustee
I, O. L. KNUTSON, 2501 FM 150 West, mailing address: P O Box 725, Kyle,
Texas 78640-0725, as Successor Trustee of the trust originally established by
RANDALL WAYNE RUSSELL, Trustor, in his will dated December 21, 1961 and
activated following the death of RANDALL WAYNE RUSSELL on October 14, 1968
with the probating of the will and the appointing of First National Bank of
Dallas as Trustee of the RANDALL WAYNE RUSSELL TESTAMENTARY TRUST in Cause
No. 68-2702-P/2 in Probate Court of Dallas County, Texas on November 4, 1968;
[subsequently, on or about June 7, 1982 First National Bank of Fort Worth,
Texas was named as Successor Trustee and thereafter NCNB Texas National Bank
became Successor Trustee by right of their being successor in interest to
First National Bank of Fort Worth and on March 19, 1990, O. L. KNUTSON was
named as Successor Trustee and has served since that date] the said trust
naming as beneficiaries the Testator's wife, LELYSLE HARRIS RUSSELL (now
remaried and known as LEE WHITE) whose address is 4011 Reynosa Drive, Austin,
Travis County, Texas 78239; Mr. Russell's two children: DAVID HART RUSSELL,
now residing at 216 Second Street, Ingram, Kerr County, Texas 78025 and
RUSHTON LEE RUSSELL, NOW RESIDING AT 324 Burd Street, Pennington, Mercer
County, New Jersey 08534, (the children of DAVID HART RUSSELL and RUSHTON
LEE RUSSELL are named as contingency beneficiaries in the event of the death
of either DAVID HART RUSSELL or RUSHTON LEE RUSSELL which has not occurred
and said contingency interest is represented herein by the parents as the
children's next friend) pursuant to the powers granted to me in Part 1,
paragraph 2(a) of Trust Agreement which reads as follows:
~'anything to the contrary herein notwithstanding,
the trustee may from time to time and at any time
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distribute to any one or more of my wife, my child-
ren, or my children's issue whom the Trustee deems
to be in need such amounts of the trust estate as
in the sole discretion of the Trustee are sufficient
to alleviate such need. In this regard, one of the
above named persons shall be deemed to be in need
when his or her health or general welfare is endan-
gered.''
Do now terminate the trust for the benefit of LELYSLE HARRIS RUSSELL a/k/a
LEE WHITE. I now pay over and hereby assign to the beneficiary, LELYSLE
HARRIS RUSSELL a/k/a LEE WHITE the property held in trust for LELYSLE 'HARRIS
RUSSELL a/k/a LEE WHITE and (said sons having heretofore assigned their
interest) the sons of she and the Trustor, to be the property of LELYSLE
HARRIS RUSSELL a/k/a LEE WHITE absolutely and free from any claims. I am
exercising my discretion to terminate the trust for the following reasons:
1. LELYSLE HARRIS RUSSELL a/k/a LEE WHITE is now 77 years old, soon
to be 78, and can no longer obtain and retain employment to support herself
as has been her practice for many years. Therefore, the health and general
welfare of LELYSLE HARRIS RUSSELL a/k/a LEE WHITE, requires that the assets
of the trust be turned over to her pursuant to the provisions of the trust
instrument, Part 1, paragraph 2(a) quoted above.
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2. The sons of RANDALL WAYNE RUSSELL have assigned their legal and
equitable interest in the trust property to LELYSLE HARRIS RUSSELL a/k/a LEE
WHITE. Therefore the separation of legal and equitable title to the trust
property being no longer present the trust has ended.
3. The assets of the trust value have been reduced to a sum of less
than $100,000.00. The cost of maintaining the trust is no longer economically
feasible and LELYSLE HARRIS RUSSELL a/k/a LEE WHITE is fully capable of
handling her own property.
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4. A reading of the trust suggests it was originally established to
assure that minor children had support until such time as they became adults
and were fully educated and capable of supporting themselves. That purpose
has been accomplished.
5. A close review of the court documents, Cause No. 68-2702-P/2,
Probate Court, Dallas County, Texas indicates that a great deal of LELYSLE
HARRIS RUSSELL a/k/a LEE WHITE'S one-half of the community property arising
from her marriage to RANDALL WAYNE RUSSELL was included in the establishment
of the trust and it is fair and equitable that whatever is left be hers.
By the execution of this instrument the parties hereto acknowledge that
the Successor Trustee, O. L. KNUTSON, has fully accounted for all trust
assets and hereby release the said Successor Trustee from any liability for
the handling and distribution of the trust assets.
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I have executed this instrument at Austin, Travis County, Texas, on
this ~ day of~, 2004.
Randall Wayne Russell Testamentary Trust
THE STATE OF TEXAS )
COUNTY OF TRAVIS )
~&)~~s instrumen~was acknowledged before me on this the ~ day of
d for the State of Texas.
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ACCEPTED on the/~ay of 0~ , 2004
· ~ e a~ris Russe a/k/a~ee'White,~
Beneficiary, Randall Wayne Russell Testamentary Trust
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THE STATE OF TEXAS )
COUNTY OF TRAVIS )
This instrument was acknowledged before me on this the~day of
Notary Publlc
Zn and for the State of Texas.
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Rush~n ~eneficiary
Randal a~<~_y~Russell Testamentary Trust; individually, and as next friend of
William Wayne Russell (Date of birth: February 4, 1993) and..
Colin Matthew Russell (Date of birth: December 28, 1995).
THE STATE OF NEW JERSEY )
COUNTY OF MERCER )
0 This instrument was acknowledged before me on this the ~'day
_ . , 2004.
In and fo~ ~h~ L'tatN~toa~YNeP
I:7:-L.7,7 , ,:,::L C - ['.Z7 J: ':.771
David Hart Russell, e y
Randall Wayne Russell Testamentary Trust;
Individually, and as next friend of
Joshua Russell Date of birth: June
11, 2001).
THE STATE OF TEXAS )
COUNTY OF KERR )
was acknowledged before me on this the-~f~ay of
This
instrument
Notary Public
In andL. for the State of Texas.
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Filed For Record on 0412610.5 at 09:04 AM RS
Wanda Burke, County Cerk Count:; Clerk, Anderson
COUNTY OF ANDERSON
I, Wanda Burke, Clerk of the County Court in and for Anderson County, Texas, do hereby
certify that this ins[rumen~ was FILED FOR RECORD and RECORDED in the volume and page
of the Official Public Records of Real Property and at the time and date as stamped hereon by me.
WANOA BURKE
County Clerk of
Anderson County, Texas