- 6 -
trustee in possession of the Marital Trust property that was
includable in decedent's gross estate. The affidavit further
states that decedent pursuant to her last will has exercised her
general testamentary power of appointment over the Marital Trust
by appointing all of the trust assets to Charles L. Govern II.
Petitioner acknowledged that the assets of the Marital Trust,
consisting of the Eagan real estate, had not yet been distributed
to Charles L. Govern and that she continued to hold legal title
thereto in her capacity as trustee. Petitioner said that she
expected that on or about May 30, 1990, she would be directed by
the District Court of Dakota County, Minnesota, to issue a deed
to Charles L. Govern, Jr., for an undivided one-half interest in
the Eagan real estate.
The Federal estate tax return filed by petitioner contained
certain appraisal information relating to the Eagan real estate
and identified decedent's power of appointment over the Marital
Trust but did not ascribe a value to the real estate and
expressly disclaimed knowledge of other assets held by decedent's
estate.
On July 8, 1991, the District Court, County of Dakota, State
of Minnesota issued an order requiring petitioner, as trustee of
the Marital Trust and Family Trust, to:
execute and deliver to Charles L. Govern, Jr. [sic], a
deed for an undivided five-eighths interest in the
subject property [the Eagan real estate], subject to
mortgages and encumbrances, and shall execute and
deliver a deed for an undivided one-eighth interest in
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 Next
Last modified: May 25, 2011