January 17, 2012.

“Hello, Mr. Cince”, this is Brian Peterson. “ I have looked at every angle on this Sheldon Jones case and it appears that there is no doubt that he died in 2010. I don’t think its worth the effort to check on the value of the REIT stock do you? Except maybe to justify the charitable deduction, but its pecuniary anyway and if the value is short, more stock would go to the charity.”

“Nah, Brian, don’t hassle with it, its probably in the ballpark and maybe even overvalued slightly if my bet is correct. Since there is no step-up in basis for income tax purposes for folks dying in 2010, these folks will have their father’s basis, so we’ll get something if the REIT is ever sold. Just close the file and send them a closing letter, the long form.”

February 15, 2012

Roger Johnson opened up the thin letter from the IRS. He knew what it was before opening it. It was a closing letter for the Estate of Sheldon Jones. He picked up the telephone.

“Hello, Christine, the IRS has signed off on the Estate tax return, you can distribute the assets of the estate into the Trust and to the Foundation and close the estate.”

She called Lupe, “Hello Lupe, the Service agreed that no tax is due.”

Lupe smiles on beach in Panama drinking a pina’ colada served by a scantily clad young woman, and says, “You know I could get used to this.”

February 15, 2015.

Christine picked up the newspaper and her blood goes cold. Her husband picks up the paper and reads the headline out loud. “Communist Junta in Panama”. “I wonder if your Uncle Lupe is going to seek asylum in the USA? And I guess he has no money anymore.”