Estate of Cooper v. Commissioner
United States Tax Court
In 1971, decedent transferred bonds to a trust for the benefit of her grandchildren, retaining the severable interest coupons payable through 1979. She died in 1974. Held, sec. 2036(a), I.R.C. 1954, requires the inclusion of the value of the bonds in the decedent's gross estate.
1Opinion of the Court
OPINION
Wilbur, Judge:
Respondent determined a deficiency in petitioner’s Federal estate tax of $7,861.05. The sole issue presented here for our decision is whether the decedent retained a life estate within the meaning of section 20361 when she gave certain bonds to a trust, in 1971, but retained all of the interest coupons payable through 1979.
All of the facts have been stipulated. The stipulation of facts and the attached exhibits are incorporated herein by this reference. At the time of the commencement of this suit, Herbert Warren Cooper III, executor of the estate, had his legal residence…
2Cases cited5 opinions
- Estate of Daniel McNichol Deceased, Ellen McNichol Evangelista and Joseph G. McNichol Executors v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1959
- McNichol v. CommissionerUnited States Tax Court · 1958
- Fry v. CommissionerUnited States Tax Court · 1947
- Cain v. Comm'rUnited States Tax Court · 1961
- Fitzsimmons v. United StatesDistrict Court, E.D. Washington · 1963
3Cited by3 opinions
- Estate of Boykin v. CommissionerUnited States Tax Court · 1987
- Estate of Cooper v. CommissionerUnited States Tax Court · 1980
- Hutchens v. CommissionerUnited States Tax Court · 1993