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Marital Fund assets that was deposited into decedent’s account
No. 4495 after decedent died.
The record overwhelmingly establishes that decedent and/or
her estate retained dominion and control over Marital Fund assets
after January 8, 1997. Before her death on June 12, 1997,
decedent did not surrender any voting rights in Marital Fund
stocks, nor did decedent attempt to relinquish dominion or
control over Marital Fund stocks. Neither decedent nor Ms.
Powell changed the name on any of the investment and bank
accounts in the Marital Fund before decedent died. Most
significantly, decedent and/or Ms. Powell continued to control
and use Marital Fund assets for decedent’s benefit after January
8, 1997.
Petitioner argues that decedent relinquished all dominion
and control over Marital Fund stocks to TCO when the agency
agreement between TCO and GFLP was executed. With regard to the
remaining assets of the Marital Fund, petitioner contends that
TCO controlled the assets as trustee of the Pamela Powell and
Michael Gore Trusts, that Ms. Powell controlled the assets as
trustee of decedent’s revocable trust, and that Ms. Powell and
Mr. Gore controlled the assets as general partners of GFLP. This
argument is not supported by credible evidence in the record.
The record shows that TCO did not exert any meaningful management
authority over Marital Fund assets until months after decedent’s
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