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In addition to the report and testimony of Mr. Glasser,
other evidence indicates that the value of Exxon’s claim as of
decedent’s date of death was significantly less than the amount
Exxon was seeking from decedent. We note the contents of the
Form 706, signed by decedent on March 21, 1990, under penalties
of perjury, and filed by decedent in her capacity as executrix of
Frankie’s estate. The Form 706 with its accompanying schedules
and statements, including Mr. Kuhlmann’s letter that was attached
to the Form 706, indicates that Exxon was willing to settle its
claim against all the Allen parties for $944,280. Despite the
fact that the Allen parties rejected this offer, presumably
because they thought Exxon’s proposal was too high, decedent, as
executrix for Frankie’s estate, deducted the amount of Exxon’s
offer of $944,280 to settle claims against all of the Allen
parties. The full amount of Exxon’s claim against Frankie was
$1,888,777.
The parties agree that Exxon was seeking $2,482,719 from
decedent at the time of her death. This amount included amounts
sought from Jessamine’s and Frankie’s interests, which decedent
had inherited. Thus, Exxon’s counteroffer was approximately 38
percent of the total amount it was seeking from the Allen
parties.13 This counteroffer by Exxon to the Allen parties was
13944,280 � 2,482,719 = .3803.
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