Legal Opinion
Commissioner of Internal Revenue v. Keller's Estate
Court of Appeals for the Third Circuit
Decided May 28, 1940No. 7242PublishedCited by 8 opinions
1Opinion of the Court
CLARK, Circuit Judge.
No one knows better than insurance salesmen that only the “excess over $40,- 000” of life insurance proceeds receivable by beneficiaries other than the insured’s executor are subject to the estate tax, 26 U.S.C.A. Int.Rev.Code, § 811 (g). This $40,000 exemption, a unique characteristic of their general stock in trade, is quite naturally stressed to the customer. Sometimes, however, it is stressed to a paradoxical extreme. The paradox consists in applying a life insurance exemption to the estate of an uninsurable prospect.
Mrs. Keller, the prospect (or rather decedent) at…
2Cases cited5 opinions
- State Ex Rel. Thornton v. Probate CourtSupreme Court of Minnesota · 1932
- Helvering v. TylerCourt of Appeals for the Eighth Circuit · 1940
- Old Colony Trust Co. v. Commissioner of Internal Rev.Court of Appeals for the First Circuit · 1939
- Bowman v. Tax CommissionOhio Supreme Court · 1939
- Commissioner of Internal Revenue v. Le GierseCourt of Appeals for the Second Circuit · 1940
3Cited by8 opinions
- Helvering v. Le GierseSupreme Court of the United States · 1941
- Estate of Keller v. CommissionerSupreme Court of the United States · 1941
- Commissioner of Internal Revenue v. CliseCourt of Appeals for the Ninth Circuit · 1941
- Burr v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1946
- Estate of Montgomery v. Comm'rUnited States Tax Court · 1971
3 more not listed; retrieve them via the Exa API.