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property was to be transferred to a residuary trust known as the
Severance A. Millikin Trust C (Trust C) when decedent died.
Trust B and/or Trust C were to pay all expenses necessary to
maintain Ripplestone during decedent's life. The trust document
required the trustee to distribute all Trust B property according
to decedent's will.
Decedent's will required Trust B to pay all Federal and
State death taxes attributable to the inclusion of Trust B in her
gross estate.
3. Trust C
Decedent's husband established Trust C to benefit some of
his and decedent's relatives. When decedent died, Trust C was to
be divided into three equal shares to be held in trust for the
benefit of the issue of three named relatives of decedent's
husband. Each of the three shares was to be held for the issue
of the three relatives per stirpes. Trust C had 28
beneficiaries.
C. Ripplestone
Ripplestone had about 150 acres on which were buildings
including a 7,900-square-foot stone main house, a detached three-
car garage with apartments, a stone pool house, a gate house and
stable, a chauffeur's cottage, and an old farmhouse with a barn.
The main house had a large living room used as a gallery to
display an extensive art collection.
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Last modified: May 25, 2011