Lande v. Commissioner
United States Tax Court
Decedent had general testamentary power of appointment over assets of inter vivos trust which he exercised. The assets in his personal estate were insufficient to satisfy all funeral and administration expenses and debts or charitable bequests. Held, the appointive property was not "property subject to claims" under New York law so as to authorize deduction of the excess of expenses and debts under section 812 (b), Internal Revenue Code.
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Decedent had general testamentary power of appointment over assets of inter vivos trust which he exercised. The assets in his personal estate were insufficient to satisfy all funeral and administration expenses and debts or charitable bequests. Held, the appointive property was not "property subject to claims" under New York law so as to authorize deduction of the excess of expenses and debts under section 812 (b), Internal Revenue Code. Held, further, considering all circumstances attending preparation and execution of will, the charitable bequests were properly paid out of assets of inter…
1Opinion of the Court
Estate of William M. Lande, Deceased, Mark Brinthaupt, Harry Moseson and Herman Lande, Executors, Petitioners, v. Commissioner of Internal Revenue, Respondent
Lande v. Commissioner
Docket No. 33532
United States Tax Court
21 T.C. 977; 1954 U.S. Tax Ct. LEXIS 264;
March 22, 1954, Promulgated
Decision will be entered under Rule 50.
Decedent had general testamentary power of appointment over assets of inter vivos trust which he exercised. The assets in his personal estate were insufficient to satisfy all funeral and administration expenses and debts or charitable bequests. Held, the appointive property…
2Cases cited17 opinions
- Terry v. . WigginsNew York Court of Appeals · 1872
- Cutting v. . CuttingNew York Court of Appeals · 1881
- Farmers' Loan Trust Co. v. . MortimerNew York Court of Appeals · 1916
- Hirsch v. BuckiAppellate Division of the Supreme Court of the State of New York · 1914
- Metcalfe v. . Union Trust Co.New York Court of Appeals · 1905
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