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$799,000; cash16 and cash equivalents of approximately
$3,308,000; personal property consisting primarily of fine art
valued at approximately $1,892,000; a loan of $305,640 due from
North Oaks retirement community pursuant to the North Oaks
residency agreement and loan agreement that Ms. Mirowski signed
on March 3, 2001; a right to receive a refund of $203,301 that
she paid as an occupancy rights fee pursuant to the Waverly
Heights residence and care agreement dated August 14, 2001; a
promissory note of Ginat Mirowski and her husband that had an
outstanding balance of $136,499.99, plus accrued interest of
$205.96; a promissory note of Ariella Rosengard and her husband
that had an outstanding balance of $460,110.73, plus accrued
interest of $922.26; and a promissory note of Doris Frydman and
her husband that had an outstanding balance of $500,000, plus
accrued interest of $915.67.17 In addition, Ms. Mirowski was the
beneficiary of a trust established under Dr. Mirowski’s will that
had a value of $620,000. At no time before Ms. Mirowski died
16At the end of 2000, Ms. Mirowski’s cash holdings consisted
of approximately $160,000 in accounts with certain banks.
17Article SECOND, paragraph (b), of the last will and testa-
ment of Ms. Mirowski provided that all indebtedness owed to her
at the time of her death by any of her daughters was to be
canceled. Article SECOND, paragraph (c), of that last will and
testament directed Ms. Mirowski’s personal representative to use
a formula specified therein in order to equalize the aggregate
benefits to be received by each of her daughters from her estate.
That formula was dependent upon the amount of indebtedness owed
to Ms. Mirowski by each of her daughters at the time of her
death.
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Last modified: March 27, 2008