Cory v. Akin

Opinion

EAGLESON, J.

In this case we hold that the full appraised value of real property is subject to inheritance taxation even though, as the result of a good faith settlement of a will contest, a distributee named in the decedent’s will received a cash substitute for the real property substantially less than its appraised value.

Facts

After Alma Timmons died on February 22, 1982,1 appellant filed a petition for admission of her 1981 will to probate. Pursuant thereto appellant was bequeathed decedent’s community property interest in certain real property along with a portion of decedent’s…