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MATTER OF ESTATE OF SNAPP

No. 92-634.

502 N.W.2d 29 (1993)

In the Matter of the ESTATE OF Gene Harold SNAPP, Deceased. Carol D. BARRON, Beneficiary, Appellant/Cross-Appellee, v. Gene H. SNAPP, Jr., Executor of the Estate of Gene Harold Snapp, Deceased, Appellee/Cross-Appellant.

Court of Appeals of Iowa.

May 4, 1993.

Attorney(s) appearing for the Case

Robert N. Downer and Timothy J. Krumm of Meardon, Sueppel, Downer & Hayes, Iowa City, for appellant/cross-appellee.

Dean C. Mohr, John A. Templer, Jr., and Ronni F. Begleiter of Shearer, Templer, Pingel & Kaplan, P.C., West Des Moines, for appellee/cross-appellant.

Heard by OXBERGER, C.J., and SACKETT and HABHAB, JJ.

OXBERGER, Chief Judge.

Gene H. Snapp, Sr., died testate on May 31, 1981. Prior to his death, he operated a car leasing business. He organized his business into three corporate entities: Acme Leasing Company; Transit, Inc.; and Blackhawk Rental Company. Blackhawk was a wholly-owned subsidiary of Acme. Gene Sr. owned approximately forty percent of the issued and outstanding stock of Acme and approximately ninety percent of the issued and outstanding stock of Transit...

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