- 15 - judgment on the alternative ground that “if the Redemption Agreement diminished the value of the stock, it equally diminished the value of the gross estate.” Petitioners maintain that the Redemption Agreement took effect no later than the moment of decedent’s death and thus imposed any value-lessening constraints on the stock as it existed in the gross estate, prior to any distribution to beneficiaries. This argument is essentially the converse of the first point on which respondent moves for partial summary judgment. Because we grant respondent’s motion on such point for the reasons discussed immediately below, we hold that petitioners are not entitled to summary judgment on their postulated alternative basis. We therefore will deny petitioners’ motion in its entirety. II. Respondent’s Cross-Motion for Partial Summary Judgment A. Unitary, Unrestricted Gross Estate Valuation Respondent asks this Court to find as a matter of law that, for gross estate purposes, “decedent’s voting and non-voting stock interest in the Schwan Corporation which was held in a revocable trust (“1992 Trust”) at the time of his death should be valued as a unitary holding, unrestricted by the terms of the 1992 Trust, the terms of the redemption agreement he executed prior to his Death (“Pre-Death Redemption Agreement”) or the terms of the Schwan Corporation by-laws”. As indicated above, petitioners advance the contrary view that the RedemptionPage: Previous 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Next
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