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held a 1-percent interest in the partnership in that
capacity. He was also the sole beneficiary of the Paul S.
Weinberg Testamentary Trust that had been created under his
father’s last will and testament (referred to above and
herein as the Paul Trust). The Paul Trust had a limited
partnership interest of 14.982 percent in Hill House and
an additional interest of 14.395 percent in Hill House as
a copartner of M.E.L. Realty Co.
On November 2, 1984, the decedent created an inter
vivos trust, and on February 17, 1989, she substantially
amended it. The amended trust directed that upon the
decedent’s death the trustees were to distribute all the
decedent’s interests in Hill House to a trust that she had
created earlier for the benefit of her son, Mr. Paul S.
Weinberg, and his issue (the Paul Family Trust). This
distribution was to include the 25.235-percent interest in
Hill House held in Trust A, over which the decedent
possessed a general power of appointment. The decedent’s
will states that the decedent exercised her power of
appointment over the subject limited partnership interest
as provided in the amended trust. Her will states as
follows:
I exercise in full the power of appointment
given to me under Article III of the Last Will
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Last modified: May 25, 2011