Estate of Lewis A. Bailey, Deceased, Frances Jeanette Foster, Executrix - Page 34




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          the promissory note less $30,000 (to reflect three annual                   
          exclusions).13                                                              
               Petitioner suggests vaguely that Melba might have acquired             
          an interest in the promissory note, presumably after decedent’s             
          revocation of the grantor trust (since the grantor trust                    
          contained no provision whereby Melba might acquire any interest             
          in any trust property) but before the assignment of the note to             
          decedent’s three children.  There is no evidence in the record,             
          however, to support this suggestion, which is undermined by the             
          contemporariness of the transfers of the note out of the grantor            
          trust and to decedent’s three children, and by the antenuptial              
          agreement between decedent and Melba, which states decedent’s               
          desire that his children should receive his separate property               
          “unaffected by the marriage of the parties hereto”.                         
               Petitioner also suggests that Melba’s joining in on the                
          execution of the warranty deed conveying the Lake Catherine                 
          property to the Manesses and on the assignment of the note to               
          three of decedent’s children shows that she had an interest in              
          the Lake Catherine property and the promissory note.  We are                
          unpersuaded by petitioner’s argument.  We believe it more likely            
          that, pursuant to the terms of the antenuptial agreement, Melba             
          signed these legal documents as a mere formality, without thereby           



               13 Petitioner does not contend that the conditions of the              
          gift-splitting provisions of sec. 2513 have been met here.                  




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