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no express or unwritten agreement or understanding among the
members of MFV that Ms. Mirowski, at her own discretion, could
have access to any of the assets that she transferred to MFV for
her own possession or enjoyment, the right to income from those
assets, or the right to determine who could possess or enjoy
those assets. Nor was there any express or unwritten agreement
or understanding among the members of MFV that Ms. Mirowski
(1) would retain during her life the economic use and benefits of
the assets that she transferred to MFV and (2) would provide for
her daughters and her grandchildren only upon her death.
Pursuant to section I18 and section 3.6 of MFV’s operating
agreement, the capital account of Ms. Mirowski was to be credited
with the respective contributions of property that she made to
MFV on September 1, 5, 6, and 7, 2001, and her capital account
was to be properly maintained thereafter.
Pursuant to section I of MFV’s operating agreement, as a
result of Ms. Mirowski’s gift of a 16-percent interest in MFV to
each of her daughters’ trusts, each of those trusts succeeded to
the capital account of Ms. Mirowski to the extent the capital
account was attributable to the 16-percent interest in MFV that
Ms. Mirowski gave to each trust.
18Section I of MFV’s operating agreement is titled “DEFINED
TERMS”. Pertinent portions of that operating agreement are
quoted in the appendix hereto.
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Last modified: March 27, 2008