- 44 -
$358,973, and the value of petitioner’s aggregate gifts is
$717,946, calculated as follows:
Leased Land
1991 present value of lease income $566,773
1991 present value of 2023 reversion 190,291
Combined present value 757,064
Pro rata interest 25%
Undiscounted pro rata value 189,266
Valuation discount adjustment (1-.15) .85
Value of separate indirect gifts 160,876
Bank Stock
Stipulated value 932,219
Pro rata interest 25%
Undiscounted pro rata interest 233,055
Valuation discount adjustment (1-.15) .85
Value of separate indirect gifts 198,097
Combined Value of Separate Indirect Gifts
Leased land 160,876
Bank stock 198,097
Total 358,973
Total Indirect Gifts
John 358,973
William 358,973
717,946
We have considered all other arguments the parties have
advanced for different results. Arguments not expressly
addressed herein we conclude are irrelevant, moot, or without
merit.
To reflect the foregoing,
Decision will be entered
under Rule 155.
Reviewed by the Court.
WELLS, CHABOT, COHEN, PARR, WHALEN, COLVIN, HALPERN,
CHIECHI, LARO, and GALE, JJ., agree with this majority opinion.
Page: Previous 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 NextLast modified: May 25, 2011