Estate of Robertson v. Commissioner
United States Tax Court
The will of decedent (D) gave his wife (W) an income interest in trusts M-2 and M-3 and provided that if D's executor did not elect to treat the property in trusts M-2 and M-3 as "qualified terminable interest property" (QTIP property) within the meaning of sec. 2056(b)(7), I.R.C., that property would instead be added to the nonmarital trust.
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The will of decedent (D) gave his wife (W) an income interest in trusts M-2 and M-3 and provided that if D's executor did not elect to treat the property in trusts M-2 and M-3 as "qualified terminable interest property" (QTIP property) within the meaning of sec. 2056(b)(7), I.R.C., that property would instead be added to the nonmarital trust. The executor made the QTIP election as to the property in trusts M-2 and M-3. Held, D's estate is not entitled to an estate tax marital deduction for W's interest in the trusts M-2 and M-3 property, where W's interest in trusts M-2 and M-3 was contingent…
1Opinion of the Court
OPINION
PARKER, Judge:
This matter is before the Court on respondent's motion for partial summary judgment, filed December 23, 1991.
Unless otherwise indicated, all section references are to the Internal Revenue Code in effect as of the date of the decedent's death, and all Rule references are to the Tax Court Rules of Practice and Procedure.
Respondent determined a deficiency of $14,014,749.30 in petitioner's Federal estate tax. The issue is whether the surviving spouse's income interest in the Marlin Robertson Trust-2 and Trust-3 property constitutes “qualified terminable interest property”…
2Cases cited20 opinions
- Naftel v. CommissionerUnited States Tax Court · 1985
- Jacklin v. CommissionerUnited States Tax Court · 1982
- Espinoza v. CommissionerUnited States Tax Court · 1982
- Jackson v. United StatesSupreme Court of the United States · 1964
- Estate of Kyle v. CommissionerUnited States Tax Court · 1990
15 more not listed; retrieve them via the Exa API.
3Cited by17 opinions
- Estate of Clayton v. CommissionerCourt of Appeals for the Fifth Circuit · 1992
- Estate of Willard E. Robertson, Deceased, Walter G. Miller, Successor-Executor v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1994
- Estate of Cavenaugh v. CommissionerUnited States Tax Court · 1993
- Estate of Bennett v. CommissionerUnited States Tax Court · 1993
- Estate of Clayton v. C.I.R.Court of Appeals for the First Circuit · 1992
12 more not listed; retrieve them via the Exa API.