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for the settlement of his claims against decedent’s estate. The
decree included the following agreement:
Richard [Abraham] shall receive income from said family
limited partnership as follows: either as the management
fee and/or gifts from Ida Abraham after deducting from the
gross income of the partnership all fees, taxes, partnership
administrative expenses, reserve for expenses and monies
needed in the discretion of the limited Guardian ad litem
(as hereinafter defined) for Ida Abraham’s support.
2. Likewise, decedent was to be the general and a limited
partner of two FLPs, and each daughter, Ms. Cawley and Ms.
Slater, was to be a limited partner therein in exchange for her
payment of $160,000. Each of these FLPs was to hold a 50-percent
interest in the Tyngsboro property. The decree included the
following agreement:
Donna [Cawley] and Diana [Slater] shall receive income from
their family limited partnership as follows: either as the
management fee and/or gifts from Ida Abraham after deducting
from the gross income of the partnership all fees, taxes,
partnership administration expenses, reserve for expenses
and monies needed in the discretion of the limited Guardian
ad litem for Ida Abraham’s support.
3. “The partnerships of the siblings, Richard, Donna, and
Diana shall share equally any and all costs and expenses related
to the ‘Ozdemir suit’, the Bloom potential action, and the
support of Ida Abraham insofar as the funds generated by Ida
Abraham’s properties maintained by her do not provide sufficient
funds for her adequate health, safety, welfare and comfort as
determined by the limited Guardian ad litem”.
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Last modified: May 25, 2011