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did not remember why decedent made the transfer or why the deed
listed "love and affection" as the consideration. Second, the
lawyer who prepared the 1983 deed testified that he put
documentary stamps on it because he thought petitioner had bought
the undivided one-half interest he received in 1983; however,
petitioner testified that he paid no money for the property.
After decedent died in 1992, petitioner retained a tax
attorney to help him in his work as personal representative of
decedent's estate. The tax attorney discussed the transfers with
petitioner, concluded that the transfers were gifts, and prepared
gift tax returns, which petitioner signed and filed with the
Internal Revenue Service. Petitioner's signing of the gift tax
returns is inconsistent with his position here that the transfers
were not gifts.
5. Conclusion
We find that, in light of (a) the fact that decedent did not
agree to transfer property to petitioner as part of their
business relationship, (b) decedent's personal relationship with
petitioner, (c) her history of making gifts to him, and (d)
petitioner's signing of the gift tax returns, decedent's
transfers to petitioner in 1980 and 1983 were gifts.
B. The Value of the Gifts From Decedent to Petitioner
1. Expert Testimony
Both parties called expert witnesses to give their opinions
about the value of the undivided one-half interests in timberland
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