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division of their parents’ respective assets after their parents
died, although that was not the primary reason for the Stone
family’s interest in exploring the use of such types of partner-
ships.
On August 16, 1995, Ms. Fraser and C. Rivers Stone filed a
motion in the Probate Court for the following relief:
(a) The appointment of an arbitrator to divide the
Cedar Mountain Property;
(b) To appoint receivers for the Stone Trusts and the
Stone Corporations;
(c) To compel compliance with the * * * [1994 plan for
settlement]; and
(d) For other related relief.
During the last six months of 1995, Mr. Merline and Mr.
Stone discussed the suggestion of C. Rivers Stone’s friends
regarding the use of family limited partnerships as a means of
dealing with the litigation among the children and the children’s
concerns regarding Mr. Stone’s and Ms. Stone’s assets. Mr.
Merline pointed out to Mr. Stone that the use of family limited
partnerships also had potential transfer tax benefits. Mr.
Merline explained to Mr. Stone that if Mr. Stone and Ms. Stone
were to decide to use family limited partnerships, any assets
that he and Ms. Stone decided to transfer to such partnerships
would no longer be available to them for their own unfettered,
personal use. Instead, as explained to Mr. Stone by Mr. Merline,
any assets that he and Ms. Stone decided to transfer to such
partnerships would belong to such partnerships and would be
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