Estate of Marion P. Bradford, Deceased, Lizette L. Pryor, Executrix - Page 28

                                        - 28 -                                        
             outside of this Will pursuant to the terms of the govern-                
             ing instrument)", simply recognizes that, in certain                     
             circumstances, death taxes can be paid from the trust.                   
             It does not express the decedent's intent that all death                 
             taxes be paid from the trust.                                            
                  We agree with respondent that under paragraph 1.02 of               
             the will, the death taxes attributable to the decedent's                 
             death are to be paid from his residuary estate as an                     
             administration expense, but, if the residuary assets are                 
             not sufficient to pay all of the decedent's debts,                       
             expenses, and death taxes, then paragraph 1.03 of the will               
             provides that the "Executor shall certify to the Trustee                 
             * * * the amount of the insufficiency, which amount shall                
             be paid out of the property of the trust as provided in                  
             that instrument."  If the decedent had intended that all                 
             death taxes be paid from the trust, as the estate contends,              
             then there would be no point in requiring the executor to                
             certify the amount of any "insufficiency" to the trustee of              
             the trust, as provided by paragraph 1.03 of the will.                    
                  We also agree with respondent that the decedent's will              
             provides that there is to be no apportionment of death                   
             taxes.  Paragraph 1.02 of the will states that the                       
             decedent's death taxes "shall be paid out of my Residuary                
             Estate as an administration expense and shall not be                     

Page:  Previous  16  17  18  19  20  21  22  23  24  25  26  27  28  29  30  31  32  33  34  35  Next

Last modified: May 25, 2011