- 10 - "moving forward and * * * under control". Mr. Lippert also discussed with the decedent how to provide liquidity to pay estate taxes on death. After the decedent's death, Mr. Lippert was surprised to learn that the testamentary trust created under the decedent's 1986 will was not eligible for the marital deduction. The decedent's 1986 will was admitted to probate on May 5, 1988, before the Superior Court of California, County of Los Angeles (referred to herein as the probate court). Initially, the coexecutors, Messrs. David and Richard Rapp, retained Mr. Clark to handle the probate of the decedent's estate. As the proceedings went on, however, they became displeased with Mr. Clark's handling of the estate. They grew dissatisfied with the time it took Mr. Clark to file required papers, and they felt uncomfortable with some of the advice that he gave to them. They also became aware that the decedent's 1986 will would require the payment of substantial Federal estate taxes. Mr. Richard Rapp felt that Mr. Clark was uncooperative and was more concerned with avoiding a malpractice suit than with settling the estate's problems. Further, Mr. Richard Rapp was unhappy because Mr. Clark threatened to withdraw as counsel for MTSS in a litigation matter if he werePage: 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