- 13 -
Decedent's 720 shares of class E voting stock were
distributed as follows: 222 shares were transferred to R.
Ellsworth McKee, 222 shares were transferred to Jack C. McKee, 78
shares were transferred to an irrevocable trust for the issue of
R. Ellsworth McKee, 78 shares were transferred to an irrevocable
trust for the issue of Jack C. Mckee, and 30 shares were
transferred to each of four individual trusts for the benefit of
four of decedent's grandchildren. The only assets remaining in
decedent's estate as of January 1, 1995, were 13,506 class B
shares and approximately $32,000 in cash.
Decedent's estate has paid and now claims a total deduction
for loan interest expense of $1,237,963.60 (including the
Provident prepayment penalty of $22,088), plus any additional
interest expense incurred on the Third Company Loan.
Page: Previous 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 NextLast modified: May 25, 2011