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Petitioner5 argues that Ms. Friedeberg contributed money and
money's worth in services with respect to properties owned as
joint tenants by decedent and Ms. Friedeberg. Petitioner argues
that these contributions of money or money's worth in services
constitute adequate consideration for Ms. Friedeberg's ownership
interest in each of the contested assets. Petitioner ultimately
argues that due to Ms. Friedeberg's alleged ownership interest,
the estate is entitled to contribution credits under section
2040(a) for 50 percent of the value of each of the contested
assets.
Respondent argues that decedent's estate has failed to prove
by a tracing of funds or otherwise that Ms. Friedeberg
contributed her separate property or services for her interests
in the jointly owned assets entitling the estate to credits under
section 2040(a).
Section 2040 governs the value of jointly owned property to
be included in a decedent's estate. Section 2040(a) provides in
pertinent part:
(a) General Rule.--The value of the gross estate
shall include the value of all property to the extent
of the interest therein held as joint tenants with
right of survivorship by the decedent and any other
person, or as tenants by the entirety by decedent and
spouse, or deposited, with any person carrying on the
5Throughout this opinion, we shall refer to both decedent's
estate and Ms. Friedeberg, in her capacity as personal
representative of the estate, as petitioner.
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