- 3 - the Estate. We refer to the Estate’s fiduciary (Joseph A. Cloutier) as the Fiduciary. Background The stipulations and attached exhibits are incorporated herein by this reference. The Decedent died on December 11, 1989, while a resident of Indiana. The Fiduciary, a resident of Indiana when he petitioned the Court, filed a Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return, on behalf of the Decedent's estate. Form 706 reflects the Fiduciary’s election of an alternate valuation date under section 2032. The alternate valuation date is June 11, 1990. Corporation for General Trade (CGT) is a corporation whose stock is not listed on an exchange. CGT’s stock was entirely owned by the Decedent when he died. CGT’s principal asset at the time of the Decedent’s death was 100 percent of the stock of Thirty-Three, Inc. (Thirty-Three). Thirty-Three owned and operated the NBC television affiliate in Fort Wayne, Indiana.2 Other assets of CGT at the time of the Decedent’s death included rental real estate and a motor home. On the Form 706, the Decedent’s CGT stock was valued at $13,969,000 on the date of his death, and $12,582,000 on the alternate valuation date. These values were based on two 2 After the Decedent died, but before the alternate valuation date, Thirty-Three was merged into CGT, so that only CGT existed on the alternate valuation date.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 Next
Last modified: May 25, 2011