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bequeathed the residue of her estate to decedent, if he should
survive her. Her will provided, in the event of a disclaimer by
decedent, that the disclaimed portion of the residuary estate
would pass to the Family Residuary Trust. Under the terms of the
Family Residuary Trust, decedent would be entitled during his
lifetime to the trust's net income, as well as "such sums from
the principal of the trust as the Trustee deems necessary or
advisable for his health, education, support and maintenance to
enable him to maintain the standard of living which he maintained
in my lifetime" (the Support Power). At his death, the principal
of the trust was to be distributed to the descendants of decedent
and Mrs. Chamberlain. Mrs. Chamberlain's will provided that,
should decedent disclaim his interest in the Family Residuary
Trust, the disclaimed property would be distributed as if
decedent had predeceased her. With the exception of Mrs.
Chamberlain's specific bequest to Dale, decedent's will contained
provisions that mirrored the provisions of Mrs. Chamberlain's
will.
Within a week after Mrs. Chamberlain's death on December 7,
1992, decedent informed Mr. Meyer of Mrs. Chamberlain's death,
and they began a series of conversations concerning Mrs.
Chamberlain's estate. In those conversations, decedent expressed
to Mr. Meyer his interest in minimizing the estate tax liability
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