Estate of Barnard v. Commissioner
United States Tax Court
In 1943 petitioner's decedent and her husband separated and entered into a written separation agreement settling all their property rights and all matters concerning the care, custody, and control of their two minor children. Under this agreement the wife paid her husband $ 50,000 and the husband released any and all claims to or upon the property of the wife.
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In 1943 petitioner's decedent and her husband separated and entered into a written separation agreement settling all their property rights and all matters concerning the care, custody, and control of their two minor children. Under this agreement the wife paid her husband $ 50,000 and the husband released any and all claims to or upon the property of the wife. On the same day that the written separation agreement was entered into the parties entered into an oral agreement to the effect that "when and if Mrs. Barnard obtained a divorce" she would make a payment of $ 50,000 to a preexisting…
1Opinion of the Court
OPINION.
Black, Judge:
This proceeding involves the determination by the respondent of a deficiency in gift tax against Josephine S. Barnard for the calendar year 1948 in the amount of $21,825. After filing her petition with this Court, Josephine S. Barnard died on February 4, 1946. City Bank' Farmers Trust Co., a banking corporation duly organized and existing under the laws of the State of New York and having its principal place of business in New York City, was duly appointed executor of the estate of Josephine S. Barnard, deceased, and by order of this Court it was substituted as the…
2Cases cited3 opinions
- Jones v. CommissionerUnited States Tax Court · 1943
- Converse v. CommissionerUnited States Tax Court · 1945
- Lahti v. CommissionerUnited States Tax Court · 1946
3Cited by19 opinions
- Goetchius v. CommissionerUnited States Tax Court · 1951
- Cox v. CommissionerUnited States Tax Court · 1948
- McLean v. CommissionerUnited States Tax Court · 1948
- Old Colony Trust Co. v. Commissioner of Corporations & TaxationMassachusetts Supreme Judicial Court · 1964
- Commissioner of Internal Revenue v. Barnard's EstateCourt of Appeals for the Second Circuit · 1949
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