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$1,331.25 inventory fee, along with the $100 petition or
application filing fee imposed at that time under Michigan law
(now $150), and some combination of minor fees or costs totaling
$20. See Mich. Comp. Laws Serv. secs. 600.871, 600.880, 600.880b
(LexisNexis 2004).
The estate relies principally on testimony of decedent’s
parents to buttress characterization of the annuities as part of
a joint and unallocated settlement of all claims in the lawsuit.
Mr. Davenport first testified that all claims were negotiated
together in the settlement procedure and that the various claims
were not broken down or discussed separately in formulating the
agreement. Then, when asked to describe the reasoning behind the
decision to establish the annuities,5 he offered:
Annuities offered some advantage that I felt for
my daughter. One of our biggest fears with her was
that she would outlive us. So annuity offered a
benefit of a continuous stream of monies, even if we
were to pass away before her.
It also offered some protection in the event that
myself or my wife was sued. These funds--monies,
cannot be attached, and it would ensure her funds for
as long as she lived, as long as she needed them.
Mr. Davenport later confirmed that his understanding upon signing
the agreement was that the annuity payments under paragraph 2.2
were not just for decedent’s claims alone. He also expressed his
5 Mr. Davenport, by profession a financial planner,
testified that he was responsible for the idea behind structuring
a portion of settlement in the form of annuities from two
different companies, to reduce risk.
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