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The parties filed a stipulation of settled issues with this
Court in which they were able to resolve most of their
differences.1 In addition, in the stipulation of settled issues,
1 Pursuant to the stipulation of settled issues, the
parties agreed to the following settlement terms:
a. The value of Folly Hill Farm reported on the estate tax
return should be reduced by $77,447 to reflect the cost
of an environmental cleanup;
b. The value of the Woolworth stock reported on the estate
tax return should be increased by $86,941;
c. The taxable estate reported on the estate tax return
should be increased by $5,000 to reflect a general
power of appointment decedent held in the Frances G.C.
Glover Trust on the date of death;
d. The taxable estate reported on the estate tax return
should be increased by $48,500 to reflect the value of
a claim decedent had against Madelyn M. Hurley on the
date of death;
e. The taxable estate reported on the estate tax return
should be increased by $20,021 to reflect the value of
a claim decedent had against Charles W. Hurley on the
date of death;
f. The taxable estate reported on the estate tax return
should be increased by $133,712 to reflect a Federal
income tax refund for 1990 to which decedent was
entitled on the date of death;
g. Decedent’s estate will be allowed a deduction for
administrator’s commissions and other miscellaneous
administrative expenses paid by decedent’s estate to
the extent approved by a final order of the Court of
Common Pleas of Chester County, Pennsylvania, Orphans’
Court Division (the Orphans’ Court).
h. Decedent’s estate will be allowed a deduction for
attorney’s fees paid by decedent’s estate (excluding
attorney’s fees paid to attorneys representing the
(continued...)
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Last modified: May 25, 2011