Estate of Morton B. Harper, Deceased, Michael A. Harper, Executor - Page 34

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          partnership arrangement did little to curtail the access of                 
          decedent or his estate to the economic benefit of the contributed           
               Similarly significant is the evidence that certain of the              
          distributions to the Trust were linked to a contemporaneous                 
          expense of decedent personally or of his estate.  These amounts,            
          variously labeled by Michael “additional distribution”, “return             
          of capital”, or “capital return”, totaled $220,520 and even                 
          included $4,000 to enable decedent to complete a gift 2 days                
          before he died.  This evidence buttresses the inference that                
          decedent and his estate had ready access to partnership cash when           
               On the issue of distributions, the estate repeatedly                   
          intones, in mantralike fashion:  “The managing general partner’s            
          right to make distributions was unlimited and could be made ‘at             
          such times and in such amounts as are determined in the sole and            
          absolute discretion of the Managing General Partner.’”  Once                
          again, however, this point begs the question.  The more salient             
          feature is not that Michael did or did not have authority to make           
          the distributions but that he frequently used his position to               
          place partnership funds at the Trust’s disposal in response to              
          personal or estate needs.  No other partner was afforded the same           
          luxury of “additional” distributions or capital returns.                    

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Last modified: May 25, 2011