Estate of Irish v. Irish

This appeal is taken from an April 7, 1977 Order Deciding A Tax Issue in the Estate of Vera Irish, entered in the probate branch of the Grant County Court, Judge WILLIAM L. REINECKE, presiding. Judge Reinecke, on stipulated facts, ordered real estate owned by the decedent be valued for purposes of inheritance tax at $46,800, the purchase price recited in an option agreement rather than the fair market value of $73,000 established by court appraisers at the time of the decedent’s death.

On December 24, 1970 Vera Irish gave her son, Clyde Irish, an option to purchase her Grant County farm for…