- 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 inPage: 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