April 17, 2016

My advice: To proceed by calculating the estate tax as if
all 4 parcels of real estate (but not 178) were part of EJM's estate; 
initially pay $112016.00 estate tax,
then file an amended return asking that the entire tax payment be refunded,
and consider appealing if it is not.

Real Estate Assessments:

174 School St                              1284000
Nantucket                                   795100
Konnarock                                   183300
Lisbon                                       27838

Klemens + EJM liquid assets:               3246848.37      
EJM Total Liquid                            971610.81
EJM Total Liquid taxable                    814962.20

Estate valuation with trust distributions ACCEPTED:

Valuation of 10 shares of 174 School St     128400.00
Valuation of 25 shares of Konnarock          45825.00
                                             ========
Total EJM real estate                       174225.00
EJM Liquid taxable                          814962.20

EJM Total taxfree + real estate             989187.20
Massachusetts Estate Tax Exemption         1000000.00

No tax due

====================================

Estate valuation with trust distributions DENIED:

174 School St                              1284000.00
Nantucket                                   795100.00
Konnarock                                   183300.00
Lisbon                                       27838.00
                                           ==========
Total real estate                          2290238.00
EJM Liquid tax free                         814962.20
                                           ==========
Total EJM estate                           3105200.20   
Massachusetts Estate Tax Exemption         1000000.00
Massachusetts Taxable Estate               2105200.20

Massachusetts Estate Tax due                112016.02
   
Klemens Total Assets (without 178)         5537086.00
Tax ratio                                        0.0202