- 4 - several parcels of real property, promissory notes, and shares of stock in other corporations. Mrs. Rapp managed the household budget and paid household expenses. She did not take an active role in either her husband's business or his investment activities. The decedent put several investments and at least one venture in his wife's name, but Mrs. Rapp played no active role in their management. The decedent was satisfied with Mrs. Rapp's management of their household expenses. In 1972, Mrs. Rapp was involved in an automobile accident. As a result of the accident, she was in a coma for 8 days, and she spent a total of 5 months in the hospital. The accident left her with poor vision and other medical problems. After the accident, Mrs. Rapp often complained about her physical limitations. She believed that she would never again be able to work. The decedent believed that the accident greatly affected his wife's personality and was partially to blame for some of the marital discord that the Rapps later suffered. The decedent was not an attorney or an accountant. In conducting his business affairs, he relied on the advice of professionals. However, he attempted to become knowledgeable about the legal and tax consequences ofPage: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011