Siegel v. Commissioner
United States Tax Court
Petitioner's husband provided in his will that, in lieu of her taking her approximate $ 584,000 share in their community property under California law, she was to receive (1) a bequest of $ 35,000 and (2) payments for life from a residuary trust established under the will. Petitioner elected to take under the will.
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Petitioner's husband provided in his will that, in lieu of her taking her approximate $ 584,000 share in their community property under California law, she was to receive (1) a bequest of $ 35,000 and (2) payments for life from a residuary trust established under the will. Petitioner elected to take under the will. Respondent determined that, as a result of such election, she made a gift to the remainderman (her son) under the testamentary trust of the reversionary interest in her $ 584,000 share of community property. Held, a gift was made to the remainderman to the extent of petitioner's…
1Opinion of the Court
OPINION.
Black, Judge:
Respondent’s position ⅛ that petitioner’s January 5, 1950, election to take under Irving’s will, in lieu of asserting her community property rights in the estate acquired during coverture, resulted in her making a gift to her son of a remainder interest in her one-half interest in community property which she thus transferred to a testamentary trust established under the last will and testament of Irving.2 Respondent has stipulated that the net value of petitioner’s community share at the date of gift was no greater than $584,035.44 (as opposed to the value of $625,600…
2Cases cited3 opinions
- Robinette v. HelveringSupreme Court of the United States · 1943
- Bergan v. CommissionerUnited States Tax Court · 1943
- Chase Nat'l Bank v. CommissionerUnited States Tax Court · 1955
3Cited by24 opinions
- Estate of Christ v. Comm'rUnited States Tax Court · 1970
- Gregory v. CommissionerUnited States Tax Court · 1963
- Turman v. CommissionerUnited States Tax Court · 1961
- Estate of Sparling v. CommissionerUnited States Tax Court · 1973
- Bomash v. CommissionerUnited States Tax Court · 1968
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