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share of the corpus previously being
held, in trust, by Mellon Bank, N.A.
On September 27, 1999, the estate filed Form 706, United
States Estate (and Generation-Skipping Transfer) Tax Return
(decedent’s estate tax return). Decedent’s estate tax return did
not include as part of decedent’s total gross estate any amount
with respect to the testamentary trust. Nor did that return
include as part of decedent’s total gross estate any amount with
respect to the inter vivos trust. In Schedule H, Powers of
Appointment (Schedule H), included as part of decedent’s estate
tax return, a notation stated “See attached explanation”. The
estate attached to decedent’s estate tax return a document
identified as an Explanation as to Schedule H-Powers of Appoint-
ment (explanation as to Schedule H). The explanation as to
Schedule H provided in pertinent part as follows:
At no time between July 29, 1933, and the date of
her death did Sarah W. Greve, the Decedent herein, have
any knowledge or understanding whatsoever that she
possessed a power of appointment under the Testamentary
Trust established under the Last Will and Testament of
her grandmother, Mrs. Wright. For that reason, there
was absolutely no mention of such Power of Appointment
in the Last Will and Testament of Sarah W. Greve and
there was no specific testamentary disposition of the
assets as to which she had such Power of Appointment.
Rather, Sarah W. Greve made, in her Last Will and
Testament, * * * a general residuary bequest and devise
to her children, per stirpes.
* * * * * * *
In mid September 1999, when counsel for the Estate
of Sarah W. Greve began to prepare this Return, he
discovered that it might be concluded by the Internal
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Last modified: May 25, 2011