I, HELEN MARJORIE SLOAN, domiciled in the City of Lynchburg, Virginia, do hereby make, publish and declare this to be my Last Will and Testament, hereby expressly revoking all Wills and Codicils heretofore made by me.
I bequeath all of my tangible personal property to my children, SAMUEL H. SLOAN of Lynchburg, Virginia and CREIGHTON W. SLOAN, of Charlotte, North Carolina, in equal shares.
I devise and bequeath all of the rest and residue of my Estate (except for any assets over which I may have a power of appointment, which I hereby expressly decline to exercise) as follows:
I direct that all of such rest and residue be divided into as many equal shares as there are (i) children of mine surviving at my death and (ii) children of mine who have predeceased me leaving issue surviving at my death and subject to the provisions of Article III, I dispose of such shares as follows:
(1) One of such shares shall be paid over and distributed to each of my living children; and
(2) One of such shares shall be paid over and delivered to the issue of each of my children who has predeceased me leaving issue surviving at my death.
If any beneficiary under Article II has not reached the age of twenty-two (22) years at the time that distribution is therein directed to be made, I give such beneficiary's share to my Trustee, hereinafter named, IN TRUST, to hold and manage for the benefit of such beneficiary during the period that such beneficiary remains under the age of twenty-two (22) years. So much of the income therefrom and, if net income be at any time insufficient, so much of the principal thereof as may be deemed necessary in the sole discretion of the Trustee (taking into account all other sources of income or support of the beneficiary known to the Trustee) shall be either paid to or expended on behalf of such beneficiary (whichever in the Trustee's sole discretion is deemed most appropriate), in equal shares or unequal amounts, in order to insure the proper support, maintenance and education (including collegiate, vocational, professional, etc.) of such beneficiary.
Any such trust arising under this Article shall terminate when the beneficiary thereof attains the age of twenty-two (22) years and any corpus then remaining shall be paid over to such beneficiary by the Trustee.
In the event that there is a failure of takers under this Article, the property undisposed of shall go to my heirs at law, determined at the time of such failure, in accordance with Section 64.1-1 and 64.1-3 of the Code of Virginia as written on the date of this Will.
I nominate and appoint SOVRAN BANK as my Executor and Trustee of any trust created herein. The Bank shall receive for its services the compensation specified in its published fee schedule in effect at the time services are rendered, and such compensation may vary from -,time to time based on such schedule.
A. Any person who fails to survive me by 120 hours shall be deemed to have predeceased me for purposes of succession to property under this Will.
B. Any legally adopted person, and descendants of the blood and legally adopted descendants of such person, shall take under this Will as if related by blood.
C. When it is provided herein that the Issue of a deceased beneficiary shall receive that beneficiary's gift, share or interest, then the division among such issue shall be in accordance with Section 64.1-3 of the Code of Virginia as it is written on the date of this Will.
D. If any property in which I own any interest is damaged or destroyed during my lifetime, or during the administration of my Estate, and my Estate receives compensation therefor after my death under any insurance policy or from any other source, then I bequeath such compensation to the same person, and in the same manner, who was intended to receive such property at my death.
E. Neither the corpus nor the income of any trust created herein shall be subject to the liabilities of, or to alienation by, the beneficiary.
F. As used in this Will, the male gender shall include the female, and the neuter, the singular shall include the plural, and vice versa.
G. Any taxes imposed under the laws of any jurisdiction by reason of my death, by whatever name called, upon or with respect to any property included in my Estate for the purpose of such taxes. whether such property passes through or outside of this Will, shall be paid by my Executor without apportionment.
H. The expenses of my last illness, the expenses of a funeral appropriate to my station In life and custom of living (including the purchase and erection of a suitable monument or marker at my grave), and my written charitable pledges shall be paid by my Executor.
I. My Executor shall have the power to pay my judicially enforceable debts and the administration expenses of my Estate as soon after my death as may be convenient and to pay or deliver any legacy or bequest to any beneficiary without waiting any time that may be prescribed by law.
J. In addition to the powers now or hereafter conferred by law, every fiduciary serving hereunder shall have all of the powers enumerated in Section 64.1-57 of the Code of Virginia, as it is written on the date of my death; provided, however, that nothing contained therein shall be construed as a waiver of the "prudent man rule" contained in Section 26-45.1(a) of the Code of Virginia as written on the date of this Will.
IN WITNESS WHEREOF, I have hereunto set my hand and seal to this, my Last Will and Testament, written on this and 3 other pages, on this 10 day of January, 1986.
HELEN MAJORIE SLOAN
STATE OF VIRGINIA
CITY OF LYNCHBURG
Before me, the undersigned personally appeared HELEN MAJORIE SLOAN, known to me to be the Testatrix and witnesses, respectively, whose names are signed to the attached and foregoing instrument and, all of these persons being by me first duly sworn, the Testatrix declared to me and to the witnesses in my presence that said instrument is her Last Will -and Testament and that she had willingly signed and executed it in the presence of said witnesses as her free and voluntary act for the purposes therein expressed; that said witnesses stated before me that the foregoing Will was executed and acknowledged by the Testatrix as her Last Will and Testament in the presence of said witnesses who, in her presence and at her request, and in the presence of each other, did subscribe their names thereto as attesting witnesses on the day of the date of said Will, and that the Testatrix, at the time of the execution of said Will, was over the age of 18 years and of sound and disposing mind and memory.
Subscribed, sworn and acknowledged before me by HELEN MAJORIE SLOAN, the Testatrix, and Rosa Lee Saunders, Dorothy C. Snyder and Jeanette C. Southall, Witnesses, this 10th day of January, 1986.
My commission expires: