- 5 - shares of Baum stock. On December 12, 1976, Sloan sold 24 shares of Baum stock to David for $6,768. On January 1, 1977, Sloan transferred his remaining 5 shares of Baum stock to David. Thereafter, David owned all 1,184 outstanding shares of Baum stock. Margaret's Death Margaret Allen (Margaret) died on November 24, 1970. Sloan and David were her only heirs. Sloan was the executor of Margaret's estate. Margaret's will was probated in the County Court of Douglas County, Nebraska (county court). Her estate was appraised at $358,151.17. Sloan inherited $174,463.75, including 2,500 shares of Standard Oil stock. David inherited $152,059.20. On January 17, 1972, Sloan, in his capacity as executor, filed a Form 706, U.S. Estate Tax Return, with the Internal Revenue Service (IRS) for Margaret's estate. Margaret’s estate was liable for Federal estate tax of $23,114.58. In addition, Margaret's estate was subject to a Nebraska State inheritance tax of $1,420.59, which was paid out of David's share of the estate. Sloan's Death On February 27, 1987, Sloan was admitted to Methodist Hospital in Omaha, Nebraska. David informed the hospital that Sloan was widowed. Sloan died intestate on March 8, 1987. On March 9, 1987, David contacted Terry Kuchera, a local funeral director at Crosby, Kunold, Burket Funeral Chapels (FuneralPage: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
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