-29-
“loans”.15 The balance paid to the Lillie Investment Trust was
computed as follows:
Redemption amount $743,263
Loans before death $258,589
Loans after death 97,412
Interest accrued to date of death 33,488
Interest accrued after date of death 11,797 401,286
Net proceeds to decedent’s estate 341,977
At or about the same time, decedent’s daughter, as cotrustee
of the Lillie Investment Trust, opened Merrill Lynch account No.
695-33K24 (Merrill Lynch postdeath trust account) in the name of
the Lillie Investment Trust. The account was funded on March 7,
2001, with the just-referenced $341,977. In 2001 and 2002, funds
were paid to the benefit of decedent (or her estate) from the
Merrill Lynch postdeath trust account. As to these funds,
$4,032.14 was paid to appraise the LRFLP; $12,832.32 was paid for
attorney’s fees; $6,704 was paid for the Florida death tax;
$152,227.81 was paid for the Federal estate tax; $25 was paid for
postage; $1,175.81 was paid for decedent’s funeral; $2,400 was
paid for an accounting fee related to the Florida intangible tax;
$1,956.80 was paid for the Florida intangible tax; and $7,651 was
paid for the Lillie Investment Trust’s 2001 Form 1041, U.S.
Income Tax Return for Estates and Trusts. In addition, on
November 7, 2005, decedent’s daughter wrote a check in the amount
15 We use the term “loan” in quotation marks for simplicity
and do not intend to suggest that the underlying amounts were in
fact loans for Federal tax purposes.
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