John F. Kennedy Jr. Will and Trust (1960 - 1999)
John F. Kennedy, Jr. and his wife, Caroline Bessette-Kennedy, died in a plane crash in July of 1999. Since Caroline did not survive him and he had no surviving children, his Will gave his property to the children of his sister, Caroline Kennedy Schlossberg, and a trust he established in 1983. His estate is estimated to be worth around a $100 million. For more information about John F. Kennedy Jr., please see his biography in Wikipedia.
LAST WILL AND TESTAMENT OF John F. Kennedy Jr.
I, JOHN F. KENNEDY, JR., of New York, New York, make this my last will, hereby revoking all earlier wills and codicils. I do not by this will exercise any power of appointment.
FIRST: I give all my tangible property (as distinguished from money, securities and the like), wherever located, other than my scrimshaw set previously owned by my father, to my wife, Carolyn Bessette-Kennedy, if she is living on the thirtieth day after my death, or if not, by right of representation to my then living issue, or if none, by right of representation to the then living issue of my sister, Caroline Kennedy Schlossberg, or if none, to my said sister, Caroline, if she is then living. If I am survived by issue, I leave this scrimshaw set to said wife, Carolyn, if she is then living, or if not, by right of representation, to my then living issue. If I am not survived by issue, I give said scrimshaw set to my nephew John B.K. Schlossberg, if he is then living, or if not, by right of representation to the then living issue of my said sister, Caroline, or if none, to my said sister Caroline, if she is then living. I hope that whoever receives my tangible personal property will dispose of certain items of it in accordance with my wishes, however made unknown, but I impose no trust, condition or enforceable obligation of any kind in this regard.
SECOND: I give and devise all my interest in my cooperative apartment located at 20-26 Moore Street, Apartment 9E, in said New York, including all my shares therein and any proprietary leases with respect thereto, to my said wife, Carolyn, if she is living on the thirtieth day after my death.
THIRD: If no issue of mine survive me, I give and devise all my interests in real estate, wherever located, that I own as tenants in common with my said sister, Caroline, or as tenants in common with any of her issue, by right of representation to Caroline's issue who are living on the thirtieth day after my death, or if none, to my said sister Caroline, if she is then living. References in this Article THIRD to "real estate" include shares in cooperative apartments and proprietary leases with respect thereto.
FOURTH: I give and devise the residue of all the property, of whatever kind and wherever located, that I own at my death to the then trustees of the John F. Kennedy Jr. 1983 Trust established October 13, 1983 by me, as Donor, of which John T. Fallon, of Weston, Massachusetts, and I are currently the trustees (the "1983 Trust"), to be added to the principal of the 1983 Trust and administered in accordance with the provisions thereof, as amended by a First Amendment dated April 9, 1987 and by a Second Amendment and Complete Restatement dated earlier this day, and as from time to hereafter further amended whether before or after my death. I have provided in the 1983 Trust for my children and more remote issue and for the method of paying all federal and state taxes in the nature of estate, inheritance, succession and like taxes occasioned by my death.
FIFTH:I appoint my wife, Carolyn Bessette-Kennedy, as guardian of each child of our marriage during minority. No guardian appointed in this will or a codicil need furnish any surety on any official bond.
SIXTH: I name my cousin Anthony Stanislaus Radziwill as my executor; and if for any reason, he fails to qualify or ceases to serve in that capacity, I name my cousin Timothy P. Shriver as my executor in his place. References in this will or a codicil to my "executor" mean the one or more executors (or administrators with this will annexed) for the time being in office. No executor or a codicil need furnish any surety on any official bond. In any proceeding for the allowance of an account of my executor, I request the Court to dispense with the appointment of a guardian ad litem to represent any person or interest. I direct that in any proceeding relating to my estate, service of process upon any person under a disability shall not made when another person not under a disability is a party to the proceeding and has the same interest as the person under the disability.
SEVENTH: In addition to other powers, my executor shall have power from time to time at discretion and without license of court: To retain, and to invest and reinvest in, any kind or amount of property; to vote and exercise other rights of security holders; to make such elections for federal and state estate, gift, income and generation-skipping transfer tax purposes as my executor may deem advisable; to compromise or admit to arbitration any matters in dispute; to borrow money, and to sell, mortgage, pledge, exchange, lease and contract with respect to any real or personal property, all without notice to any beneficiary and in such manner, for such consideration and on such terms as to credit or otherwise as my executor may deem advisable, whether or not the effect thereof extends beyond the period settling my estate; and in distributing my estate, to allot property, whether real or personal, at then current values, in lieu of cash.
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