- 10 - Bob, let’s quickly get good, binding, incontestable Wills affectuated [sic] quickly, or, if you like, add lines to what I made and bring * * * legal witnesses and Jo and I will sign again. * * * dash up to the Big House and we’ll make it all legit. If that will do it for us all. I still want Newmanmade Wills ASAP. On March 6, 1988, decedent wrote a letter to Mr. Newman. Decedent was disappointed in what seemed to him “much too long to look in the statute books and write to us what the Federal and State taxes will be, and the fees and commissions as spelled out by law.” Given that at the time he was 75 years old, decedent wanted his will completed, witnessed, and safely stored in his “safe room” as quickly as possible. On March 7, 1988, Mr. Newman wrote a letter to decedent. Mr. Newman listed the expenses that would be incurred on an estate of $4 million. Mr. Newman explained that the delay was not in computing the figures “but rather trying to come up with an acceptable way of avoiding the estate tax which is quite significant.” Mr. Newman listed the potential Federal estate tax as $1,302,600 and potential New York estate tax as $392,500. Mr. Newman wrote that he had “some ideas that I would like you to examine, but I will present these to you at a later time.” Mr. Newman advised decedent that he had a draft of the will which would be sent to decedent that Friday for his examination.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011