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iary of Maryland. After decedent’s death, pursuant to the
provisions of decedent’s will, the Circuit Court for Montgomery
County, Maryland, sitting as the Orphans’ Court (Orphans’ Court),
appointed Mr. Tehan as the personal representative of decedent’s
estate.
On the date of decedent’s death, the fair rental value of
decedent’s residence was between $1,600 and $2,200 per month. On
the same date, the fair market value of that residence was
$275,000.
On or about August 17, 2000, Mr. Tehan filed Form 706,
United States Estate (and Generation-Skipping Transfer) Tax
Return (estate tax return), on behalf of the estate. The estate
tax return listed as part of decedent’s gross estate, inter alia,
the following types of assets and the following date-of-death
values for such types of assets:
Assets Value
Schedule A–-Real Estate $0
Schedule B–-Stocks and Bonds 280,334
Schedule C–-Mortgages, Notes and Cash 178,974
Schedule D–-Insurance on the Decedent’s Life146,000
Schedule E–-Jointly Owned Property 1,380
Schedule F–-Other Miscellaneous Property 29,534
Schedule G–-Transfers During Decedent’s Life0
Schedule H–-Powers of Appointment 0
Schedule I–-Annuities 1,027,210
Decedent’s estate tax return claimed deductions of $79,993 in
Schedule J, Funeral Expenses and Expenses Incurred in Administer-
ing Property Subject to Claims, which included $32,000 of execu-
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Last modified: May 25, 2011