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and/or benefits in the transferred property. See Gifford-Hill &
Co. v. Stoller, 380 N.W.2d 625, 630 (Neb. 1986); First Natl. Bank
v. First Cadco Corp., 203 N.W.2d 770, 778-779 (Neb. 1973); see also
Stanko v. Commissioner, T.C. Memo. 1996-530.
The tangible evidence adduced by respondent herein indicates
that there was a planned evasion of Federal and State taxes, and
that David masterminded these plans. David moved in on his
father's fortune soon after his death. David clearly did not act
in good faith.10 We have set forth in our Findings of Fact many
details as to events occurring following Sloan’s death. However,
we wish to highlight several of them.
First, David did not put a notice of his father's death in the
local newspaper; considering all of the circumstances, one could
reasonably infer that he refrained from doing so in order to keep
his father's death secret from the Federal and State taxing
authorities. Second, he secretly and hurriedly transferred Sloan's
entire estate to himself as sole heir. Third, after his father's
death, David forged his father's signature on the stock
certificates representing 110,000 shares of stock and quickly sold
them. Fourth, David depleted his father's checking account by
10 See First Natl. Bank v. First Cadco Corp., 203 N.W.2d
770, 779 (Neb. 1973) (“Where there is a conveyance between close
relatives without adequate consideration, the burden is upon the
parties to the transaction to establish that it was done in good
faith.”).
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