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Petitioners cite Estate of Jameson v. Commissioner, T.C.
Memo. 1999-43, for the proposition that respondent may not use
one value for including the MD&F stock in Mr. DiSanto's estate
and a lower value for calculating the marital deduction. We
disagree. The decedent in Estate of Jameson bequeathed an amount
to his children and the residuary to his wife. We held that his
estate may not use a lower per share value of closely held stock
to increase the number of shares to compute the bequest to his
children and a higher per share value of the same stock to
compute the marital deduction. Estate of Jameson v.
Commissioner, supra, is distinguishable because the decedent's
wife did not disclaim part of her interest as Mrs. DiSanto did
here.
D. Whether Checks Not Yet Paid by the Bank When Mrs. DiSanto
Died Are Completed Gifts Not Included in Her Estate
Petitioners contend that funds from Mrs. DiSanto's bank
account paid by the bank for checks written by her or her
daughter (with a power of attorney from Mrs. DiSanto) to make
noncharitable gifts before Mrs. DiSanto died, are not includable
in her gross estate. The bank paid those checks later on the day
she died. Petitioners point out that Mrs. DiSanto died on June 4
at 4:30 a.m., before the bank opened and, thus, she could not
instruct the bank to stop payment on June 4. Thus, petitioners
contend, the gifts were completed when she died. We disagree.
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