- 40 -
daughters communicated several times a week with MFV’s attorney
Mr. Silver.
As Ms. Mirowski also had hoped, MFV’s members have benefited
from having MFV’s assets held in a single pool, rather than held
separately by Ms. Mirowski’s daughters or the daughters’ trusts.
For example, Goldman Sachs charges lower fees for larger ac-
counts. In addition, MFV has had the opportunity to participate
in certain investments that would not have been available on an
individual basis to Ms. Mirowski’s daughters or her daughters’
trusts if, instead of creating MFV, transferring the bulk of her
assets to it, and giving certain interests in MFV to those
trusts, Ms. Mirowski had made a separate gift of her assets to
each of her daughters or each of those trusts.
During 2002, MFV, which had made no distributions during
2001, made distributions totaling $36,415,810 to decedent’s
estate in order for decedent’s estate to pay Federal and State
transfer taxes, legal fees, and other obligations of decedent’s
estate.31 At the time in 2002 when MFV made distributions to
decedent’s estate, MFV’s members (i.e., the daughters’ trusts),
through their respective trustees (i.e., Ms. Mirowski’s daugh-
ters), agreed and decided that MFV should not make distributions
31The Federal and State transfer taxes paid with funds that
MFV distributed to decedent’s estate during 2002 totaled
$30,911,301.77, of which $11,750,623 was Ms. Mirowski’s estimated
gift tax for 2001 that, as discussed below, decedent’s estate
paid in April 2002.
Page: Previous 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 Next
Last modified: March 27, 2008