- 8 -
of $3,357,915, and a net worth of $10,172,756. The
financial statement detailed the investments that the Rapps
owned in 1986.
The decedent and Mrs. Rapp executed their 1986 wills
during a meeting in Mr. Clark's office. Prior to that
time, Mr. Clark had not consulted with Mrs. Rapp about the
provisions of her 1986 will. During the meeting, Mr. Clark
read parts of the decedent's 1986 will to the decedent and
Mrs. Rapp. Mr. Clark told Mrs. Rapp that her 1986 will
was essentially the same as the decedent's, and that she
would not understand it because it was technical. At the
time the wills were signed, Mr. Clark did not discuss the
estate tax consequences of the 1986 wills with either the
decedent or Mrs. Rapp.
The 1986 wills were executed during a difficult
time in the decedent's marriage to Mrs. Rapp. During the
mid-1980's, the decedent had considered divorcing his wife.
Mr. Clark advised the decedent that a divorce would be
disruptive to the decedent's business ventures. Mr. Clark
put the decedent in contact with a marriage counselor in
1984. The Rapps remained married until Mr. Rapp's death in
1988.
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