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Clack Corp. in the family. Although decedent wanted his son
Robert A. Clack to remain with the company, he wanted his other
son Richard E. Clack to have control of the company. Decedent
also wanted to minimize his estate taxes and to provide for his
wife.
Decedent executed his will on August 27, 1986. The will
names decedent’s son Richard E. Clack and the Marshall & Ilsley
Trust Co. of Milwaukee, Wisconsin, as co-personal representatives
of his estate and cotrustees of the trusts created by the will.
Article I of the will provides for the payment of expenses
(paragraph A) and taxes (paragraph B) from the residuary estate.
Article II of the will bequeaths to decedent’s wife all of
decedent’s personal effects and his interest in his personal
residence. Article III of the will bequeaths to decedent’s son
Richard E. Clack 12,689 shares of the common stock of Clack Corp.
Such bequest was made to recognize Richard E. Clack’s activities
in the management and success of Clack Corp. and was intended to
ensure that Richard E. Clack retained control of Clack Corp.
Article IV of the will creates a marital trust for the
benefit of decedent’s wife as follows:
Qualified Terminable Interest Property Marital
Trust. If my wife survives me, I give to my Trustee
the minimum pecuniary amount which will qualify for the
federal estate tax marital deduction and which will
result in the smallest federal estate tax being payable
by reason of my death. In computing this amount, my
Personal Representative shall take into account the
unified credit and the credit for state death taxes and
deduction (except the marital deduction) available to
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