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D. Transfer of Assets to the Trust and Partnership
Decedent transferred all of his property (except for his
car, personal effects, and a small amount of cash3) to the
partnership. Decedent signed deeds individually and on behalf of
Mrs. Reichardt’s estate transferring his and the estate’s
interest in 214 Encino, the Routt rental property, and the Nueces
and Kleberg Counties property to the trust. He also signed deeds
as trustee transferring those interests in that property to the
partnership. Decedent deposited $20,540 of partnership funds in
his personal checking accounts in July and August 1993. Decedent
transferred to the trust, which then transferred to the
partnership, (1) investment accounts at Rauscher Pierce Refsnes,
Inc. (Rauscher Pierce), on June 29, 1993, and Smith Barney
Shearson, Inc. (Smith Barney), on August 16, 1993, (2) the Graham
note on August 12, 1993, and (3) $32,871.78 in cash on August 13,
1993.4 Before and after the transfers, decedent’s children let
him control the two investment accounts, the note receivable, and
the cash.
Decedent individually, and with William Reichardt and
Carolyn Foose as coexecutors of Mrs. Reichardt's estate,
transferred the Graham note which had been Mrs. Reichardt’s and
3 Decedent had $2,389 in his personal checking account when
he died.
4 Decedent transferred the cash directly to the
partnership.
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Last modified: May 25, 2011