Estate of Emanuel Trompeter, Deceased, Robin Carol Trompeter Gonzalez and Janet Ilene Trompeter Polachek, Co-Executors - Page 5

          a $1.4 million commission because, he alleged, the decedent had             
          retained him to sell assets worth at least $14 million in return            
          for a 10-percent commission.  These assets, Pasko alleged,                  
          included the decedent’s diamonds, jade and ivory collections,               
          ancient Chinese artifacts, and handmade unique wool rug.3  The              
          finder’s fee document, signed in the name of the decedent,                  
          provided that Pasko had the authority to sell for $20 million the           
          decedent’s “ancient ornamental Chinese artifacts for a period               
          from Oct. 20 to Nov. 20, 1990 with no extension allowed.  This              
          lot also includes a hand made [sic] unique wool 4' x 8' rug of              
          Moslem theme.”  The finder’s fee document provided that Pasko               
          would receive a commission equal to 10 percent of the sales price           
          and that “Any and all commissions to be paid by the buyer as                
          finders [sic] fee”.4  Although diamonds were not specifically               
          mentioned in the finder’s fee agreement, Pasko understood this              
          agreement to include the decedent’s diamonds.                               

               3 The estate’s Federal estate tax return did not report that           
          the decedent owned at his death any jewelry or loose gemstones.             
          Nor were either of those items reported as a gift on any of the             
          gift tax returns filed by or on behalf of the decedent, his                 
          trust, or the estate.  The estate’s Federal estate tax return               
          also did not report that the decedent owned at his death a                  
          significant amount of jade, ivory, Chinese artifacts, or rugs.              
          The coexecutors reported on the estate’s Federal estate tax                 
          return that the value of the decedent’s collection of ivory,                
          jade, rugs, and other collectibles totaled $39,065.                         
               4 The fact that the buyer was liable for the 10-percent                
          commission on $20 million means that the buyer would need to pay            
          $22 million for the specified items in order for Pasko to collect           
          his $2 million commission.                                                  

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Last modified: May 25, 2011