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respective partnership interests owned by the partners of MSFLP
in April 1997 were as follows:
General Limited
Partner Partner
Partner Interests Interests
Mr. Stone 1.003% 90.141%
Ms. Stone -- 7.851%
Ms. Fraser 1.000% .001%
Ms. Davis .001% .001%
Ms. Arnal .001% .001%
At the time of Mr. Stone’s death on June 5, 1997, Mr. Stone
held the same percentage partnership interests in MSFLP that he
owned in April 1997. At the time of Ms. Stone’s death on October
16, 1998, Ms. Stone held the same partnership interest in MSFLP
that she owned in April 1997.
On June 5, 1997, Mr. Stone died at the age of 89. On that
date, pursuant to Mr. Stone’s will, The Allene Wyman Stone Trust
(AWS Trust) was formed. Pursuant to that will, (1) the 1.001
percent general partnership interest and the 68.972 percent
limited partnership interest in ES3LP that Mr. Stone held on the
date of his death, (2) all the assets on that date in his indi-
vidual retirement account (Mr. Stone’s retirement account),41 and
(3) his right on that date to certain deferred compensation from
Stone Manufacturing were transferred to that trust. (We shall
sometimes refer to the assets in Mr. Stone’s retirement account
41On the date of Mr. Stone’s death, the assets in Mr.
Stone’s retirement account consisted of numerous corporate stocks
and securities and a Government bond.
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