KATZ, Benjamin - Last Will & Testament

KATZ

Posted By: Marilyn O'Connor (email)
Date: 1/28/2009 at 15:32:24

LAST WILL AND TESTAMENT
OF Benjamin Katz.
Admitted to Probate on Oct. 15, 1914.

“I, Benjamin Katz, a resident of Osage, Mitchell County, Iowa, being of sound and disposing mind and memory, do make, publish and declare this my last will and testament, to-wit:

1. I direct that all my just debts and funeral expenses shall be first paid out of my personal estate.

2. I give, devise and bequeath to my wife Jeannette Katz all the estate of which I may die seized or possessed whether personal or real or mixed and wherever situated, including after acquired property, to have and to hold the same absolutely in fee simple and in her own right, subject however, to the conditions and restrictions hereafter named.

3. I direct that my said wife Jeannette Katz shall pay to my son Max Katz and to my daughters Bernice Katz and Helen Katz the sum of $500 each within one year from date of my death.

4. I direct that my dove business shall be conducted and carried on by my estate for a period of five years after my death, and it shall be managed and controled by my son Max Katz, and as a consideration and compensation for his services he is to have one-half of the net profits arising from the conduct of said business, after taking out all expenses and taxes thereon. The remaining half of said net profits shall belong absolutely to my wife Jeannette Katz, as more particularly declared in the second division herein.

5. I further direct that at the expiration of the above period my son Max Katz shall have the absolute right to purchase said dove business including all real and personal property connected therewith or used in the conduct of said business at its book value, or in other words at the value thereof shown by the books kept by me from the foundation of said business and during the conduct thereof, and I expressly declare the two last above directions an absolute limitation upon the bequest made in sub-division two hereof, provided, however, that said sale and purchase may be made at any time prior to the expiration of said period if the parties interested therein so agree.

6. I hereby nominate and appoint my wife Jeannette Katz the Executrix of this my last will and testament, and expressly provide that she shall not be required to give any bonds for the performance of her trust, and in case of her death or disability I nominate and appoint my son Max Katz as the Executor in her stead and place, and expressly provide that he shall not be required to give any bonds for the performance of said trust.

In testimony whereof I have hereunto set my hand at Osage, Iowa, on this 26th day of April, 1909.

Benjamin Katz.”

(Duly witnessed by Emma C. Foster and Wm. H. Salisbury.