Daily Legal News - Probate Court Notices : 2017 ADV 229131 Margaret Margolis (formerly known as Margaret Gerson)

  • LEGAL NOTICE

    2017 ADV 229131—Margaret Margolis (formerly known as Margaret Gerson) vs. PNC Bank, N.A., as Trustee of the Benjamin S. Gerson Irrevocable Indenture of Trust dated January 10, 1966 for the benefit of Margaret Margolis, et al.

    Unborn and unknown lineal descendants of Benjamin Gerson, the place of residence of each being unknown, will take notice that on October 22, 2018, the undersigned, Margaret Margolis (formerly known as Margaret Gerson), filed her amended petition to terminate trust in the Probate Court One Lakeside Avenue, N.W., of Cuyahoga County, Ohio, alleging that Margaret Margolis (formerly known as Margaret Gerson) ("Petitioner"), the sole beneficiary of a separate Trust share created under an Irrevocable Indenture of Trust dated January 10, 1996 (the "Trust") established by Benjamin S. Gerson as Grantor and Eleanor R. Gerson as the original Trustee, hereby seeks termination of such separate share created under the Trust, because the continuance of the separate Trust share is not necessary to achieve any material purpose of the separate Trust share and/or termination will further the purposes of the trust.

    Petitioner requests the Court to appoint a guardian ad litem to consent to terminate the separate share referred to herein as Margaret's Irrevocable Trust created under the Irrevocable Indenture of Trust dated January 10, 1966, by Benjamin S. Gerson, as Grantor, and Eleanor R. Gerson, as initial Trustee, directing the assets of Margaret's Irrevocable Trust to be distributed equally, and outright, to Daniel M. Margolis and James A. Margolis on behalf of the following minor children: William E. Margolis, Sylvia A. Margolis, Leo W. Margolis, Lucy S. Margolis, Gabriella Gerson, and Dylan Gerson.

    Further, Petitioner requests that the Court appoint a trustee to consent to terminate the separate share referred to herein as Margaret's Irrevocable Trust created under the Irrevocable Indenture of Trust dated January 10, 1966, by Benjamin S. Gerson, as Grantor, and Eleanor R. Gerson, as initial Trustee, directing the assets of Margaret's Irrevocable Trust to be distributed equally, and outright, to Daneil M. Margolis and James A. Margolis on behalf of the unborn and unknown lineal descendants of Benjamin Gerson.

    Wherefore, Margaret Margolis (formerly known as Margaret Gerson) respectfully requests that this Court issue and Order appointing a guardian ad litem and trustee for suit to represent the minor, unborn and unknown lineal descendants of Benjamin Gerson and to terminate the separate share referred to herein as Margaret's Irrevocable Trust created under the Irrevocable Indenture of Trust dated January 10, 1966, by Benjamin S. Gerson, as Grantor, and Eleanor R. Gerson, as as initial Trustee, directing the assets of Margaret's Irrevocable Trust to be distributed equally, and outright, to Daniel M. Margolis and James A. Margolis, as agreed upon by all of the beneficiaries other that the minor, unborn and unknown lineal descendants of Benjamin Gerson, and that the Court declare an order that all necessary parties with an interest in the Trust participated in the action and/or were properly represented in accordance with Ohio law and have consented to the termination of the Trust and the distribution of the Trust as requested by the Petitioner and that the Trustee be relieved from any and all liability for its administration, investment, and termination and/or distribution of the Trust, and granting her such other and further relief as this Court deems just and proper.

    The defendants named above are required to answer on or before the 25th day of March, 2019.

    MARGARET MARGOLIS (FORMERLY KNOWN AS MARGARET GERSON).

    By Deviani M. Kuhar and Nora K. Cook, Attorneys for Plaintiff.

    Jan19-26Feb2-9-16-23, 2019

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