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consider concern the fair market value of one of the properties
and the discounts, if any, to be applied to each of the three 50-
percent undivided interests in real property held by decedent’s
estate and at issue here.
FINDINGS OF FACT
The stipulation of facts and the exhibits attached thereto
are incorporated herein by this reference.
Eileen Kerr Stevens (decedent) a resident of Santa Clara
County, California, died testate on September 7, 1993 (valuation
date). Before her death, she had been married to Roy Stevens.
The couple had four children, one of whom predeceased decedent.
One of those children, Damon Stevens, is the executor of
decedent’s estate. At the time of filing the petition Damon
Stevens resided in Santa Clara County, California.
Roy Stevens predeceased decedent on May 4, 1980, and through
his will, created the Roy Stevens Testamentary Trust (the Trust)
with decedent as trustee. As trustee, decedent had been given
the power to conduct business for the Trust, including the
authority to partition the Trust property if necessary. Decedent
was entitled to the entire net income of the Trust, as well as
any principal necessary for her “proper support, care and
maintenance” for her life. The Trust continued after decedent’s
death for the benefit of the Stevens children. The Trust and a
subsequent trust created by decedent both were to be terminated
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