- 41 - indicated that the University property had approximately $1.5 million in equity. Hillgren represented in the BLA and during trial, however, that the University property was “underwater” because the debt exceeded the equity at the time that Hillgren and decedent entered into the BLA. 5. Conclusion The estate claims that decedent was “in excellent physical health, on new antidepressant medication, and not contemplating suicide” and that, therefore, the partnership was not an alternate testamentary vehicle. The evidence contradicts this claim. Shortly before her death, decedent attempted suicide, was on various medications, was under the care of a psychiatrist, and suffered from severe pain due to degenerative disc disease. After her initial suicide attempt, LKHP was formed. Decedent and Hillgren started many businesses over the years and disregarded entities as they saw fit, making various “situational representations”, i.e., statements about their property ownership and values to support a then existing purpose, without regard to accuracy. Even the stipulated facts contain inconsistencies regarding entity names and dates of creation and dissolution. The stipulations of the parties were often contradicted by the documents that were provided by Hillgren. Hillgren and the estate’s representatives continued to disregard the LKHP agreement both prior to and after decedent’s death.Page: Previous 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 Next
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