HomeMy WebLinkAboutAFFIDAVIT & PROOF OF OWNERSHIP - D S H Living TrustDECLARATION
BY TRUSTEE AND PERSONAL REPRESENTATIVE
ALLOCATING ASSETS BETWEEN SUBTRUSTS
THIS DECLARATION BY TRUSTEE AND PERSONAL REPRESENT ATNE
ALLOCATING ASSETS BETWEEN SUBTRUSTS (this ''Declaration") is made effectiveMay 30,
2018. by JAMES SCOTT HOLM, as trustee of THE D.S. & h. LNING TRUST, as restated on
August 25, 2011 ("Trust"), and JAMES SCOTT HOLM as personal representative of the estate of
DELRAY HOLM, deceased ("Personal Representative''). TI1is Declaration is also consented to by
SHIRLEY ANN HOLM, individually and as the surviving spouse of Del Ray Holm with respect
to the exchange of assets described herein.
Background
A.The Trust was originally created by agreement dated March 5, 2005 and thereafter
re tated by agreement dated August 25, 2011 executed by DEL RAY HOLM (''Del Ray')") and
SHIRLEY ANN HOLM ("Shirley''), husband and wife, who are referred to collectively as the
Granters'. The Restated Trust constitutes the terms and provisions of the Trust. The trustees of
the Trust were designated as Del Ray and Shirley, jointly.
B.Del Ray died on February 21, 2017 at the age of86 years. Following the death of Del
Ray. Shirley resigned as co-trustee of the Trust. Pursuant to the terms of the Trust the Grantors
named their on, James Scott Holm to erve a ucces or trustee. JAMES SCOTT HOLM, has
accepted the position of trustee of the Trust and is the person who is currently serving as trustee of
the Trust and is referred to herein as the "Trustee" or "James", as the context may indicate.
C.Pmsuant to Article III, Section 3.04 of the Trust Agreement, the Trustee is required
as a result of Del Ray's death to divide the Trust into two separate trusts, one to be known as the
MARITAL TRUST (hereinafter "Marital Trust" or "Trust A") and the other to be known as THE
BYPASS TRUST (hereinafter "Bypass Trust" or "Trust B"). The Marital Trust i designed to be
held furtherfor Shirley as the surviving spouse and in that regard is a marital trust intended to qualify
forthe marital deductwn The Bypa:,;sTrnst is designed to shelter Del Ray's unifiedcredit and in
that regard is a credit shelter bypass trust.
D.Pursuant to Article lll, Section 3.05 (a) of the Trust Agreement, The Marital Trust
is to consist of (1) the surviving spouse's one half (Yi) share of the community estate; (2) Shirley's
separate property, if any; (3) any property designated in Del Ray's will as property of The Marital
DE LARATION BY TRUSTE AND PERSONAL REPRESENT ATNE
ALLOCATING A SET B TWEEN SUBTRUSTS PAGE 1
Douglas R. Nel on (1580)
NELS 'HALL PARRY TUCKER PLLC.
490 Memorial Drive
P.O. Box 51630
Idaho Falls, ID 83405-1630
Telephonc:(208) 522-300 l
Facsimile: (208) 523-7254
IN THE DISTRlCT COURT OF THE SEVENTH JUDICIAL DlSTRl T OF
THE STATE Of IDAHO. IN ANDFOR THE COUNTY OF JEFFERSON
IN THEMATTER OF THE EST ATE OF
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CASENO. ('tl/7-{)2..z..2_
LETTERS TE TAMENTARY
DEL RAY HOLM,
1.
Deceased.
JAMES SCOTT HOLM was duly appointed and qualified as Gene 7rsonalRepresentativeoftheestateoftheabove-named decedent on the (., day of ir , 20 I 7,
by the Court with all authority pertaining thereto.
2.Administration of the estate is unsupervised.
The ·e letters are issued to cvH.lcnce the appointment, quahficatiou, and authority of the said
pcrsonnl rcprc:cntatt'vl' or special aJ.mtm:-trator.
W1TNESS, my s1gnatun: and Ille cal of this 'ourt, this '-day of( 2017.
STATE OF IDAHO )
COUNTY OF JEFFERSON )
MAGISTRATE
L: cgal\DR 7790.3.hol lfYTl'IATTKEABOVEANO l'OR
l!l A FULL TRUE AND CORRECT COP, :'l
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