Flournoy v. Bielec

Opinion

WRIGHT, C. J.

Paul Bielec, individually and as executor of the will of his deceased brother Stephen, appeals from an order overruling objections to the inheritance tax appraiser’s report 1 , and fixing the inheritance tax for Stephen’s estate.

Ten years before Stephen died, he, Paul and a corporation wholly owned by them entered into an agreement which provided that the corporate stock of the brother who was first to die would be sold back to the corporation for either $100,000 or some other amount to be set by the parties in the interim. 2 At the time of Stephen’s death the fair market…