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not married, and petitioners had no grandchildren at the time of
trial. Petitioner worked for Luby's Cafeterias for 49 years and
retired at age 65 on December 31, 1992, as a senior vice
president. In 1992, Douglas Knight was 40, and Mary Knight was
33. By December 1994, petitioners owned assets worth about $10
million, most of which was Luby's Cafeterias stock. Petitioners
were both in excellent health at the time of trial.
2. Petitioners’ Real Property
In 1861, petitioner’s great-grandfather bought a 290-acre
ranch (the ranch) in Freestone County, Texas, about 120 acres of
which is pasture. Knight family members are buried in a cemetery
on the ranch. Petitioner was raised on the ranch. By 1959,
parts of the ranch were owned by several members of petitioner’s
family. In 1959, petitioner began to buy parts of the ranch for
sentimental reasons. Petitioner generally has 55 to 75 cattle on
the ranch. The ranch has never been profitable while petitioner
owned it.
Petitioners bought their family residence at 6219 Dilbeck in
Dallas, Texas, on June 1, 1973. Petitioners moved to San Antonio
in 1981. Douglas Knight lived at 6219 Dilbeck rent-free from
1984 to the date of trial. Petitioners bought a residence at
14827 Chancey in Addison, Texas, on May 12, 1993. Mary Knight
has lived there rent-free from 1993 to the date of trial except
from November 1995 to September 1997.
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