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John F. Kennedy, Jr. planned to leave
the bulk of his holdings to his wife,
Caroline Bessette-Kennedy, or their
children. But John and Caroline died
together in a plane crash last July
without leaving any issue. Therefore,
his property will go to the children
of his sister, Caroline Kennedy Schlossberg.
The bulk of his estate is left to
the beneficiaries of a trust he established
in 1983. Kennedy also left the scrimshaw,
or carved whale ivory, set once owned
by his father to nephew John B.K.
Schlossberg. Kennedy's cousin, Timothy
P. Shriver was named executor of the
will. Kennedy's estate is reportedly
worth $100 million.
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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