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probate of decedent’s estate engendered by the process of getting
TCB to decline executorship.
To the extent that the estate’s arguments focus on
accounting manipulations, they are unavailing. As demonstrated
in Estate of Reichardt v. Commissioner, supra at 154-155, and
Estate of Harper v. Commissioner, supra, accounting adjustments
do not preclude a conclusion that those involved understood that
the decedent’s assets would be made available as needs
materialized. Belated repayment of certain amounts likewise does
not refute the inference of an implicit agreement for retained
enjoyment that arises from the demonstrated and contemporaneous
availability of large sums. Furthermore, to the extent that the
estate’s explanations focus on a delay in probate, they lack
specificity. The more salient feature would appear to be the
insufficiency of the assets not contributed to SFLP and Stranco
to cover the significant expenses reasonably to be expected to
ensue in connection with decedent’s poor health and death. That,
in turn, speaks to retained enjoyment.
Regarding testamentary characteristics, the SFLP/Stranco
arrangement also bears greater resemblance to one man’s estate
plan than to any sort of arm’s-length, joint enterprise. As in
Estate of Harper v. Commissioner, supra, “the largely unilateral
nature of the formation, the extent and type of the assets
contributed thereto, and decedent’s personal situation are
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