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Revenue Service that the assets which were the subject
of said Power of Appointment are includable in the
gross Estate of Sarah W. Greve. For this reason, on
September 24, 1999, Charles E. Greve and David R.
Greve, the Executors of the Estate of Sarah W. Greve
filed a Disclaimer, as to the Estate of Sarah W. Greve,
as to said Power of Appointment with the Register of
Wills of Allegheny County, Pennsylvania; and, on that
same date, such Disclaimer was delivered to Mellon
Bank, N.A., per Attorney Collins. * * *
The assets in said Trust and the fair market value
of those assets on the date when Sarah W. Greve died
are shown on a document, issued by Mellon Bank, N.A.,
entitled “Account Assets”. * * * The fair market value
of a one sixth (1/6) share of said assets is
$314,612.42.
It is the position of the Estate of Sarah W. Greve
that said $314,612.42 should not be included in the
taxable Estate of Sarah W. Greve because Sarah W. Greve
did not specifically exercise her Power of Appointment
in the manner as directed in the Will of Mrs. Wright.
It is the position of the six (6) children of
Sarah W. Greve that said $314,612.42 passed to them, in
equal shares, pursuant to the Will of Mrs. Wright
because they are the only heirs of Sarah W. Greve under
the Intestate Laws of the Commonwealth of Pennsylvania.
Alternatively, if it is determined that the gen-
eral residuary bequest in the Last Will and Testament
of Sarah W. Greve constituted such an exercise, it is
the position of the Estate of Sarah W. Greve that a
proper and appropriate Disclaimer as to said Power of
Appointment was timely filed.
The explanation as to Schedule H did not discuss any potential
issue with respect to the power of appointment that decedent had
with respect to $5,000 of the principal of the inter vivos trust.
Respondent issued a notice of deficiency (notice) to dece-
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