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PATLA, STRAus, RoBINSON & MooRE , P . A.
SU ITC: :100 • 211J N 0RH4 .-cA.RKCT
P. O. IIOX 18ZII
ASHEVI~~E. NORT H CARO~INA 28802
COPY OF LAST WILL AND TI:STAMENT OF
lEO FINKELSTEIN
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POWER OF ATTORNEY
A$hevill ~,
l !v :.h Carc!:n3
Know all men by · these presents , that I , Leo Finkelstein,
hereby make, constitute and appoint my son, Leo Vinkelstein, Jr . ,
my true and lawful Attorn~/-in-Fact, for me and in my name, place
and stead and on my behal , to do and perform for me anything of
any character which I might do or ~erforru for myself if personally
present and acting.
Should my said Attorney- in- Fact be unable to act hereunder, I
hereby const itute a nd appoint Karl H. Straus, and if he s hall be
unable or unwilling t o act, Robert J. Robinson, and if he shall
also be unabie or unwilling to act, Robert A. Freeme.n, III, my
true and lawful At:t:Orney-iu-Fact, with full power and authori.ty to
do and perform in my name and stead all matters and things herein
authorized to be done and performed .
I hereby revoke any and all Powers of Attorney previously
given by me.
Without in any way limiting the foregoing, I specifically
authorize my Attorney-in-Fact, in my name and on my behalf:
(1)
Food and Clothing. To purchase food, clothes, medicine and
other goods and supplies.
(2)
Banking.
To endorse, deposiL and collect checks, drafts,
promissory not.es, or other instruments made payable to me or
to my order, and to endorse, deposit and withdraw any and all
deposits to my credit in any bank, whether in my own name or
jointly with another.
(3)
Safe Deposit Box . To enter and to deal with the contents of
any safe deposit box standing in my name or to which I have
the right of access.
(4)
Collection of Funds. To collect all s ums due me from all
sources, inc luding Federal, State , or other governmer.tal
ag~ncies, or branch thereof.
(5)
Insurance. To maintain and/ or purchase policies of insurance , ~ncluding property, health, accident, disability, hospital, or any other insurance, and to collect the proceeds of
any such insurance , and in connection therewith , to give re ceipts and releases .
(6)
Borrowing Money . To borrow money and to pledge for the payment thereof any real or personal property.
(7)
Investments. To retain and/or to make any form of investment
in real or personal property (tangible or intangible, including but not limited to stocks and bond3, etc.) , or interests
therein, for cash or on terms (including "on margin"), and to
hold such investments in the name of a nominee or in any
other form without disclosure of the fiduciary relationship.
(8)
Voting.
To vote for me and in my name, and to act as my
proxy, at stockholder, partnership or syndicate meetings, and
to sign proxies, statements , waivers, notices and simil&r
documents.
(9)
Purchasin , Mort a in ,
To acquire,
pure ase, mortgage, se , trans er, ass gn or lease real or
personal property (tangible and intangible), or any interests
therein , and to make such purchases, mortgages , or conveyances for cash or on terms, and to give or receive secured or
unsecured notes therefor, and to pay, coll ect , and cancel
such notes, and to execute bills of sale, deeds , mortgages ,
deeds in t rust , leases and such other documents as may be
required or desirable .
�- 2 (10) Tax Retu·cns , To s ign aP.y return, Power of Attorney , or oth er
document required by Federal, State, or other governmental
taxing a uthorities , and to appear for me and to represent me
before the Internal Revenue Service, or any State or other
governmenta l t axing authority f or any tax year from 1980
through the year 2005 .
(1 1) Lesal Claims. To conduct , d~fend and
su1t or proceeding for any purpose or
may be due me or c l aimed again st me,
such matters , and to receive , execute
releases or other discharges therefor .
p rosecute any action ,
for any amount which
to a d just and sett:!..e
and deliver receipts,
( 12) Care and Treatment. To admit me , and to exec ute contxaccs ,
conecnce or oth er documents required for my care and treatment at hos pitals, nursing h omes or other institut ions.
(13) Attorneys and Accountants.
To hire and retain a t torneys ,
accountants, or other agents reasonably required i n th~
carrying out of the duties herein de legated , and to pay
reasonable remuneration for such services .
I h e reby ratify and confirm all t h at my Attorney-in- Fact
s hal l lawfully do or cause to be done by virtue hereof.
The powers herein granted s hall be deemed continuing and
s h all be e x ercisab le in connection with .::·.1y property which I may
hereafter acquire as well as a ny property wh:l.ch I may now own .
It is my i ntention that thi s Power of Attorney s hall continue
in effect until revoked in writing, notwithstanding my incapacity
or incompetence which may occur after the date of execution of
this Power of Attorney.
This Power of At t orney is executed pursuant to the General
Statutes of North Cacol ina , General Statutes 32A et. s eq.
I specifically waive a ll requirements conta ine d in North
Carolina General Statute 32A et . seq. (or in any similar statute
in any other applicable jurisdiction) rela tive to filing in the
Office of the Clerk of Superior Court for Buncombe County (or in
any other office performing s imila r f unctions in any other jurisdiction) of inventories a nd/or accounting reports covering re c eipts, disburs ements, investments, purchases , or disposition of
my property.
IN WITNESS WHEREOF, I have executed the foregoing Power of
Attorney, this ~day of July , 1988.
~~~~p.:~~7-lt:i~~~~~~;.·,;a Notary Pub lie in and for
;;
o
tify that Leo Finkelstein
personally appeared before me th s day and acknowledged the due
execution of the forego ing instrument.
Witness my ha nd and notaria l
July, 1988 .
My Commission Expires:
d
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seal,
this the
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~
day of
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J2048-3
COPYOF Wilt:
OF
LEO FINKELSTEIN
I hereby make, publish and declare this to be my Last W
ill and
Testament hereby r evok i n g any and all Wil ls and Codic:.ls by me at
any cime
h e r a cof~re
made.
Ar ticle 1.
DECLARATION
I declare tha t:
l. 1
Testator .
My name is Leo Fink e l s tein and I reside in
Buncombe County, S:ate o f. North Carolina .
1.2
'.-Efe of Testator .
1. 3
Son of Tescator.
My
"\.Jife " is Sylvia B. Fi nke l st ein .
My "S on" is Leo Finkelstein, Jr.
Ar:icle 2.
EXECUTOR AND TRUSTEE
I nomin a : e . constitute and appoint my Son and Karl H. Straus as
Co -Executors and Go -Trustees of this my Last Will.
In the event
Karl H. Straus shall be unable or unwilling to serve, I nominate ,
constitute and appoint Robert J .
Robi~son ,
unable or
Robert A.
unwilling
to
Executor and Co-Trustee.
serve.
and if he shall also be
Freeman,
III,
as Co-
I direct that none of my Executors or
Trustees shall be required to furnish bond .
Wherever in this Hill
reference is made to Executor or Trustee, it shall also mean and
apply to Co-Executors or Co-Trustees, whichever is applicable.
Article 3.
PAYMENT OF DEBTS , ETC.
I direct my Executor to pay my funeral expenses (including the
�Last Will and Testament of Leo Finkelstein, Page 2
cost of a suitable plaque or monument), all expenses of my last
illness, the administration expenses of my estate and any and all
debts (including unpaid charitable pledges whether or not the same
are enforceable obligations of my estate) as an expense and obligation of my estate and wi thout apportionment.
Art ic le 4.
TANGIBLE ?ERSONAL PROPERTY
I give an d bequeath al l my jewe lry and watches to my Son , and to
hi s s urviving children (in equal shar es) if he shall predecease
me,
and I give and bequeath all my other personal effects and
t ang~ble person al property to my W fe , and if s h e shall predecease
i
me, to my Son.
I direct that this bequest is i ntend ed to include
I direct
only it ems of tangibl e personal effects and pro?e ~ t:y .
that any expenses
property be
paid
incurred in
safeguarding or
f r om my estate
as
an
deliver ing such
admin i stration
expens e
t hereof .
Article 5.
SPECIFIC BEQUESTS
I give and bequeath the sum of Five Thousand Dollars ($5,000) each
to Rhonda Adams Schornstein, Lee Ad.:tms , and Steven Finkelstein,
and I give and beque a th the sum of One Thousand Dollars ($1,000)
~ach t o Reb ecca Adams and to any other Great Grandchildren who may
survive me .
For the purpose of this Article 5. , the term Gr ea t
Grandchildren shall include any child or children of Rhonda Adams
Schornstein and Lee Adams and any Grandchild or Grandchildren of
Leo Finkelstein, Jr.
�Last Will and Testament of Leo Finkelstein , Page 3
Article 6.
RESIDUARY ES'fATE
6.1
Division int o Two Shares .
I direct my Exe cutor to di-
vide all th e rest, residue and remainder o f my prope rty and est a t e
of every nature and wherever situa ted,
includif'!g a l l
property
which I may acquire or become entitled to a f t e r the exe cu t ion of
this Will and including all laps e d lega ci e s and devi se s , h e r e inafter re f erred to as my
R~s iduar y
Esta t e , into two equal s h ares,
to be des i gnated an d kn own as t he "v fe ' s Sha r e " and the "Son's
li
Shar e ".
6. 2
Tru s t f or Benefit of Wi f e .
I give . de v ise and bequea th
1
th e Wif e s Share t o my Trustee . tc be held i n a crust to be des i gna ted as the "Wife ' s Tru st " , and m Trustee s hall dis c:- ibut e t he
y
net income derived the r efrom , in no l ess than quar ter ly ir.s t a llmer.t s , to and for the benefi t o f my Wi fe .
this trust and my \-li fe s ot he r
1
I f the ne t inc ome from
iinanc ia l r es ourc es ar e ins uffi-
c i ent to provide for the maint en anc e , health and gener a l welfare
of my \-life, I c.irect my Tru s tee t o pay to and for the benefit of
my Wife so much of principal as shall be reasonably required under
the circums t ance s .
If at any time my Trustee shall determine that
the trust es t ablished by thi s Wil l i s so small as to no longer be
economica ll y fe asib le t o c ontinue in trust, my Trustee may termi nate such trust and distribut e the remainin g assets to my Wife ,
free and clear of this trust.
If my \.Jife shall have
sur~Jived
me
and the Trus t is in existence at the time of her death, or if my
Wife shall have predeceased me , I give, devise and bequeath the
Wife's Share or the principal then r emaining in said Trust to
Patricia Sue Adams.
�Last Wil l and Testament of Leo Finkelstein , Page 4
6.3
Son' s
I
Share .
give ,
devise and bequeath the Son's
Share to my Son, and if he shall not bP. living at the time of my
death, I give , devise and
be~ueath
the Son's Share in equal shares
to my Son ' s surviving child or childr en , natural born nr adopted .
Article 7.
MISCELLANEOUS PROVISIONS
7.1
Discretionarv Distributions.
The discretionary distri -
bu tions of princ i pal and income hereinabove authori-zed shall be
made by my Tru stee
Trus tee a s to the
in
its discretion .
amou:-1 ~
and
the judgmen t
of my
of such payments or di stributions, and
the advi s aLi.l ity thereo.: , s hall be final and conclusive upon all
p ~ r:ies
interested or who may become
~nterested
i n my estate or in
any o f my t rust esta t es .
7. 2
Accounting
Trustee.
b~
My Trustee shall render state -
ments of account of r ece ipts, disbursements and investments held
a t lease annually to my Wife , but my Trustee shall not be required
to make any repo=ts to any cour t at any time for any purpose.
7.3
Funding of Wife's Trust.
I direct that to the extent
possible , the Wife's Trust shall be funded only with assets that
qua lify for
the marital deduction under
the provisions of the
Int ernal Revenue Code zpplicable to my estate or out of the pro ceeds of such asset s .
not reduced by any estate,
tran sfer , succession, legacy or
passing under this \-lill.
qualifying for
si~ilar
inheritance ,
taxes paid out of property
Also , to the exten t that other assets
the marital deduction are available,
the t.Jife' s
�Last Will and Testament of Leo Finkelstein, Page 5
(i) assets with respect to which
Trust shall not be funded with:
a credit for fore ign
taxes paid is allowable under the Internal
Revenue Code; (ii) assets which may be subject to both income and
estate ta~es and which may be eligible for a credit or deduction;
or (iii) United States Treasury Bonds eligible for redemption at
par in payment of Fede ral Esta te taxes .
the W~fe' s Trust may be
Subject to the fore 3o ing,
funded in cash or in specific prope rty ,
real or personal, or an undivided interest therein, or partly in
cash and partly in such P'=operty ,
and in inst al lments or all at
one time , a nd without r egard to the
?=operty alloca t ed
to
the
trust,
~ncome
tax basis of specific
provided only
that any assets
distribut ed in kind shall b e valued at their date o r d a t es of dist : i bucion values.
In making such distributions, I request (but do
not direct) that to the e xt en t deemed advisable or practical:
(i)
any p:-operty being sold t o satisfy obligations of my estat e {o r of
any trust)
s ha ll have an aggrega t e income tax basis as close as
possible to its aggregate fair market value and (ii) to the extent
consistent with this primary objective , the increase in basis for
federal and state estate and succession taxes attributable to ap preciation shall be maximized .
7.4
Special Instructions.
which assets
shall be used in
whether my estate
The decision of my Executcr as to
funding
the \.Jife' s
shall be valued under
Trus t,
as
to
the optional valuation
provisions of the federal estate tax law, as t o wh at tax elections
should be exercised , and as to what proceedings are necessary to
complete
the ascertainment of
the federal
estate
tax ,
shall be
�Last Will and Testament of Leo Finkelstein, Page 6
conclusive and binding on all per sons,
and no compensating ad-
justments between income and principal or between the funding of
the trusts or other bequests shall be made as a r esult of such tax
elections exercised by my Executor.
7.5
Distribution of Income Pending Funding of Wife ' s Trust .
So long as any part of the Wife ' s Trust r emains unfunded, my Wi fe
s ha l l
be
ent:it:led
to receive
from my Executor one-half
(l /2 )
of
the net income of my estate , the same to be in lieu of any interest or other income thereon.
The determina tion of my Executor as
to the amount of incooe to whi ch my Wife is entitled unde r
the
provi sions of this Paragraph shall be f in al and conclusive as to
all per sons interested or claiming to Le inter ested i n my es tat e .
Article 8.
DISTRIBUTIONS TO MINORS
If under the r:e rms of this Hill any beque st or devise, payment of
income , or distribution of principal, shall become payable or distributable tc a minor, my Executor and Trustee shall have the
right and power to make such payments or distributions payable ,
distributable or applicable to the use of such minor by making
payment or distribution to either the parent or guardian of such
minor, or my Executor and Trustee may apply the same directly for
such minor ' s own benefit , and the receipt of such parent or guard ian, or evidence of the application of the bequest or devise, all
or in !Jart , for the benefit of such minor , shall be a full and
complete discharge and acquittance to my Exe cutor and Trustee to
the extent of such payment or distribution.
�Last ·will and Testament of Leo Finkelstein, Page 7
Article 9.
COMMON DISASTER
In the event my Wife and I nhall die in or as a result of a cormnon
disaste r or accident , or
difficult or
impossible
unde~
such circumstance s that it shall be
to dt.'termine which one predeceased the
other, it s hall be conclusively presumed that I survived my Wife .
Articl e 10 .
TAXES
I direct tha t all estate,
cession taxes,
inheritance , transf er , l egacy or
or death duties ,
sue -
togethe r tvith any asses sment s,
intere s ts or penalties thereon, which may be assessed or impos ed
with re spect to my
est.::~te ,
or anv pa rt ther eof , \vhether or
not
passing under my Wil l (collectively "Taxes " ). shall be paid out of
my Residuary Estate as an exp ense of administ ration and tvithout
appo rtionment .
Article ll.
AUTHORITY AND POWERS OF EXECUTOR AND TRUSTEE
I he r eby authorize my Executor a nd/ or Trustee, in the exercis e of
its di screti on and without any order of court,
to do all things
and to perform all acts tha t seem req,Iisite or desirab le in the
businesslike settlement of my estate and the administrat ion of any
trust.
Without in any t.;ay limiting the generality of the fore-
going, my Executor and Trustee s hall have the powers set forth and
described in Artic l e Three of Chapter 32 of the General Statutes
of North Carolina r ela ting to powers of fiduciaries and all of the
powers conferred upon fiduciaries and personal r epr esentatives set
forth and described in the general statutes of any jurisdiction in
which this Last Will is probated, or in which my estate or any
�Last Will and Testament of Leo Finkelstein, Page 8
trust s are being administered , and all of such powers and statutes
a r e hereby incorporated into this Wi ll as if fu lly set out herein.
Ar ticle 12.
CAPTIONS
The captions herein are for convenience only an d shall in no way
limit, b r oRden or otherwise affect the construction of any pro vision h ereof .
I, Leo Finkelstein,
this
I~
day of
the Testator, sign my name to this instrument
1990
1'\J\A.rc...-1..____
and being first
duly
s tvorn . do hereb:' de clare to the undersi.gned authority thnt I sign
and execut e this in strument as my Last Wi ll and Testament and th at
I
sign it wil l ingly, that I execut e it as my free and voluntary
act for
t he purposes herein expressed,
and
that I
am eighteen
yea r s of age or older, of sound mind, and under no constraint or
undue influence.
estato r
\.Je ,
~~ .:J kb'o~c.p.,_
the witnesses,
, and?aro&.'-a.:?.
ltv~\..t
sign our names to this instrument consisting of
nine (9) pages, including this page and the following page, this
_...,!1'-~-1,;' day of
yy0)...~c..-L
, 1990 and being first duly sworn, do
her eby declare to the undersigned authority that the Testator h as
signed and executed this instrument as his Last l-lill and that he
�Last Will and 1estament of Leo Finkelstein , Page 9
signed it willingly,
and that
each of us ,
in the presence and
hearing of the Testator, her eby signs this Will as witness to the
Testator ' s
signing ,
and that
to
the best of our knowledge
Testator is eighteen years of age or older,
of sound mind,
the
and
under no const=aint or undue influence.
STATE OF N
ORTH CAROLINA
COUNTY OF BUNCOMBE
Subscribed,
Fi~tein,_t
by
5i.rl .J.
witnes ses , this
sworn to and acknowledged before me by Leo
Testa 4or, and s ub s ~d and swor~ tO· before me
\o o.,...v.-.~ ~
and ~""'-'L\..c__cp, lU'\.&0
'
\
day o
(Y'yi cc b.
, 1990.
My Commission Expires:
¥1tary ublic ".,_,.._ L--rl=~
~/L~'<c Mlk'~
N
�
Dublin Core
The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/.
Title
A name given to the resource
Leo Finkelstein Papers
Description
An account of the resource
This collection contains materials relating to Leo Finkelstein, resident of Asheville, North Carolina, the Asheville Lions Club, and the Beth Ha-Tephila Cemetery in Asheville. It contains computer discs, notes, scrapbooks, book drafts, correspondence, photographs, programs, fliers, and other materials related Leo Finkelstein, his wife Sylvia, and the Lions Club, Elks Club, and Jewish Community in Asheville, North Carolina.
Contributor
An entity responsible for making contributions to the resource
Finkelstein, Leo, 1905-1998
Dublin Core
The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/.
Title
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Leo Finkelstein's Last Will and Testament, November 30, 1993
Date
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1993-11-30
Language
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English
Identifier
An unambiguous reference to the resource within a given context
107_01_15_LeoFinkelstein_LastWillAndTestament_M
Description
An account of the resource
Leo's last will and testament, explaining the distribution of his estate, personal property, and money, most of which he left to his son Leo Finkelstein, Jr, and his wife.
Subject
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Finkelstein, Leo, 1905-1998--Will
Rights
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<a title=" In Copyright - Rights-holder(s) Unlocatable or Unidentifiable" href="http://rightsstatements.org/vocab/InC-RUU/1.0//" target="_blank" rel="noopener"> In Copyright - Rights-holder(s) Unlocatable or Unidentifiable </a>
Format
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PDF
Wills
Source
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<a title="AC.107 Leo Finkelstein Papers" href="https://appstate-speccoll.lyrasistechnology.org/repositories/2/resources/192" target="_blank" rel="noopener"> AC.107 Leo Finkelstein Papers </a>
Is Part Of
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<a title=" Leo Finkelstein Papers" href="https://omeka.library.appstate.edu/collections/show/27" target="_blank" rel="noopener"> Leo Finkelstein Papers </a>
Type
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Text
Extent
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12 pages
1990
attorney
Last Will and Testament
Leo Finkelstein Jr.
personal property