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married, and later combined their businesses to form Perticular
Lawn, Inc.
3. Conclusion
We conclude that respondent has shown that the transfers of
the assets in the inventory were per se fraudulent under Fla.
Stat. Ann. section 726.106(1) (West 1988).
4. Value of the Property Transferred
Respondent contends that Mr. Riffe's estate included
$113,600 of property other than cash. Petitioners contend that
respondent has not established the fair market value of the non-
cash property listed in the inventory that Mrs. Pert filed with
the probate court, and contend that the values given in the
inventory are not evidence of fair market value. We agree with
respondent.
Under Florida law, the personal representative of an estate
must file an inventory of the property of the estate, including
the estimated fair market value of each asset when decedent died.
Fla. Stat. Ann. sec. 733.604(1) (West 1988). Kaltenbach
testified that the values used in the inventory were based on the
best information available at the time without the expense of
appraisals. We do not believe that the absence of appraisals or
the fact that Mr. Riffe’s estate was larger than $60,000 and
smaller than $600,000 makes the estimate in the inventory
unreliable.
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