Estate of Lela Barry Vardell, Deceased, First National Bank in Dallas v. Commissioner of Internal Revenue

I respectfully dissent.

Until her last expiring breath Mrs. Vardell enjoyed all the economic benefits of the whole of the property: income, possession, management, control, disposition. Until the moment of death she could do with the property as she pleased. Death shifted the economic benefits. Death was the taxable event. The property, therefore, should be included in her estate under the general provision, Section 2033.

No one expects perfect symmetry in the federal estate and gift tax structure. Nevertheless, there are several unifying principles- of such importance that violation of these…