Mugivan Estate Tax 10-21-1937

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Mugivan Estate Tax
10-21-1937 - AX ON ESTATE AT PERU S SET AT Gross Value of...
AX ON ESTATE AT PERU S SET AT Gross Value of Former Circus Magnate Widow's Property "placedjt $385,608 Peru Ind., Oct. 20^(Trlbune special) -State Inheritance tax to- telline S20.3S9.23 will bo chased aKainat the estate of the late Mrs Mary Edith Mufilvan. widow .of Jerry Muffivan, former Peru circus magnate, according to the final appraisal report filed la Miami circuit court today by Leroy Shi vcley county assessor. Circuit Judge Hal C. Phclps allowed Shiveicy a special fee of $1,000 for making the appraisal Cross value of the estate was fixed at £383,608.39, which is approximately half the estimated vul- ue of the entire Muglvan fortune, the other half already having been distributed, following Mr. Muptvan's death and under thc terms of the joint will made by him and his wife Net value of the widow's on a ·Wccivcd following,' Mr. Muglvan'B cUy demlee. However, Mr. Mugivan's plca a relatives' bequests are subject t loss ·wife r*et vaiue UL uie w i w w " « Tharo was fixed at $346.854.57, a j total of $38,853.82 having been charged off as debt, and expense, Relative* Arc Beneficiaries Relatives of both'Mr. and Mrs. Mugivan had been named beneficiaries in the joint will, and the amount* they will receive incident to the widow's death arc approxi- tely the same as the sums following Mr. '""" H greater inheritance tax in the final distribution because of the fact that they are not direct relatives of the deceased. On the other hand, Mrs. Mugivan's 'relatives will "be taxed less this time than before, and con.iequently the net amounts they arc to receive are" slightly larger. Two of Mr. Mugivan's and a sister receive largest in the final distribution. They Charles -Muglvan. James P. Mugl van and Mm. Catherine Mohr. two brothers' gross shares are $28,904.55 each, while thc sister's is $32907.42. Under the inheritance law, seven per cent of these sums arc taken for taxation, being $2,016.32 for each of the two brothers, J2.302.82 tor the sister. Eight otner of Mr. Mugivan's relatives will receive sums ranging In gross--from $5,000 to $19,000,, ·which are taxed from $340 to $1,300. ImrfMt Share. $34,88$ Largest sums lor Mrs. Mugivan's relatives ure $34,885.46 each to a brother and a half-brother, John Simpson and Charles Bledsoc, will be taxed $1,709.27. Tax on thc inheritance of relatives is calculated at five per cent, while that to non-relatives is seven per cent. Also the exemption for relatives is $500, under the law, fcilc that for non-relatives Is only Thirteen other relatives of Mrs. MuKivan will receive bequests

Clipped from
  1. The Kokomo Tribune,
  2. 21 Oct 1937, Thu,
  3. Page 11

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  • Mugivan Estate Tax 10-21-1937

    mark124 – 13 Sep 2013

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