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Chisum,3 a.k.a. J.C. Chisum (Mr. Chisum), the Lucky Kirt Trust’s
trustee; however, Dennis Roemer was not present during the
signing of the trust documents, nor did he read the trust
documents. To fund the trust, Raymond Roemer transferred land
located in Gove County, Kansas, to Lucky Kirt Trust by warranty
deed dated December 14, 1992, and recorded July 28, 1993.4
Upon the purported creation of the Lucky Kirt Trust, Mrs.
Lundgren signed the “Minutes of Lucky Kirt” in the capacity of
secretary, and her handwritten name appears on the signature line
for the general manager. In the same document, Mr. Lundgren
signed in the capacity of the assistant general manager, and Mr.
Chisum signed in the capacity of the managing agent on behalf of
the trust’s trustee, The Prudent Man Trustee Co. (Prudent Man
Trustee). Mr. Chisum did not have any documentation relating to
his authority via the Prudent Man Trustee or Lucky Kirt Trust to
sign documents as managing agent and did not provide a copy of
the Lucky Kirt Trust document. Petitioners did not at any time
3 Jimmy Clayton Chisum is a known promoter of tax-avoidance
schemes. Aspects of his tax-avoidance schemes are described in
Lipari v. Commissioner, T.C. Memo. 2000-280 (sec. 6673 penalty
imposed on taxpayers who claimed they were unable to obtain
records from Mr. Chisum, “trustee” of their “trust”) and George
v. Commissioner, T.C. Memo. 1999-381 (“trust” of which Mr. Chisum
was “trustee” was a sham, and payments received by that “trust”
were income of osteopathic physician who performed services that
generated the income).
4 The record contains references to Lucky Kirt II trust and
Lucky Kirt Trust II. There was never a trust named Lucky Kirt
II, rather Lucky Kirt II was the name given to the Legg Mason
Wood Walker (Legg Mason) option trading account.
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Last modified: May 25, 2011