Rice v. PAGER

CARLEY, Justice.

Margaret Louise Rice (Testatrix) died in 2003, and was survived by her husband Kenneth Malcolm Rice (Appellant) and by children from each of their former marriages. Testatrix’s will established a credit shelter trust and a residuary trust, and named Appellant and her son Bradford L. Pager (Appellee) as co-trustees of each trust. Subsequent to the probate of the will, Appellant as executor transferred a 75% interest in certain real property (hereinafter “Lake House”) into the credit shelter trust and the remaining 25% interest into the residuary trust. In 2007, Appellant…