Estate of Marie A. Bies - Page 6

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            Mr. Grayson would retrieve the documents after they were signed,                           
            and the transfers were then recorded in the corporate stock                                
            ledger.  After their marriage, the transfers of shares from                                
            decedent to James and Cheryl, and from Cheryl to James, were made                          
            according to this same procedure.                                                          
                  Decedent did not file a Form 709, United States Gift Tax                             
            Return, with respect to any of these transfers, nor were any                               
            taxable gifts reported on Form 706, United States Estate (and                              
            Generation-Skipping Transfer) Tax Return.                                                  
            Decedent's Will                                                                            
                  Decedent owned shares of MBI stock at the time of her                                
            death,3 and her will, executed September 8, 1989, provided:                                
                        SECOND.  After the payment of such funeral                                     
                  expenses and debts, I hereby make the following                                      
                  specific devises:                                                                    
                              *     *     *     *     *     *     *                                    
                        B.    All capital stock in Mueller-Bies Funeral                                
                              Home, Inc., to my sons, Albert W. Bies and                               
                              Gregory J. Bies, or to the survivor of them;                             
                              * * *                                                                    

            transfers to them.  However, the record shows that the documents                           
            were prepared at the same time.                                                            
                  3The personal representative reported on the estate tax                              
            return that decedent owned 5.068 shares of MBI stock at the time                           
            of her death.  Petitioner represented in the petition that                                 
            decedent owned 5.9046 shares of MBI stock on the date of her                               
            death.  The exact number of shares that decedent owned at her                              
            death is not now at issue.                                                                 

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