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(33 percent), and Helen Meldrim Janes (33 percent). From 1945
through 1948, the three children operated the business as a
partnership, J.S. Meldrim owning 67 percent of the partnership's
interests and Decedent and Helen Meldrim Janes each owning 16.5
percent.
On August 12, 1948, Helen Meldrim Janes sold 13.24 percent
of her 16.5-percent interest in the partnership to J.S. Meldrim
and sold the remaining 3.26 percent to Decedent. J.S. Meldrim
and Decedent operated the resulting partnership as the Meldrim
& McFarland Partnership (the Partnership) from 1948 until the
death of J.S. Meldrim in 1969; during that period J.S. Meldrim
owned 80 percent of the Partnership's interests, and Decedent
owned the remaining 20 percent. When J.S. Meldrim died, his
80-percent interest passed to his spouse and three daughters, his
spouse (Lillian Meldrim) receiving 50 percent of his 80-percent
interest in trust, and the other 50-percent interest being split
equally among his daughters; namely, Jo Meldrim, Personal
Representative, Winifred Apfeldorf, and Carolyn Moore. From 1969
through 1991, Decedent had a 20-percent interest in the
Partnership, Lillian Meldrim had a 40-percent interest in trust,
Jo Meldrim had a 13-1/3-percent interest, Winifred Apfeldorf had
a 13-1/3-percent interest, and Carolyn Moore had a 13-1/3-percent
interest.
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