Two trustees are personally liable for more than $1 million in outstanding tax debt from their late father’s estate because they were the primary beneficiaries, a federal district court held.
Monty Karst and Todd Templeton failed to convince the US District Court for the District of Kansas the government’s liability assessment was invalid, Judge Toby Crouse said in a Feb. 27 opinion. The brothers also didn’t prove the statute of limitations for the government to collect from their father’s estate had expired, Crouse said.
Donald D. Karst, a gas and oil entrepreneur, died in September 2007 and transferred his ...
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