Estate of Christiansen v. Comm'r
United States Tax Court
H was the only legatee of her mother's will. H disclaimed the portion of the gross estate that had a fair market value of more than $ 6,350,000. The will provided that any disclaimed portion would pass in part to a charitable foundation and in part to a charitable trust that would pay an annuity to the foundation. H did not disclaim a contingent remainder in the property passing to the charitable trust.
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H was the only legatee of her mother's will. H disclaimed the portion of the gross estate that had a fair market value of more than $ 6,350,000. The will provided that any disclaimed portion would pass in part to a charitable foundation and in part to a charitable trust that would pay an annuity to the foundation. H did not disclaim a contingent remainder in the property passing to the charitable trust. On the estate's tax return, it deducted as charitable contributions the disclaimed property passing to the foundation and -- to the extent of the present value of the annuity interest -- the…
1Concurrence
Haines and Goeke, JJ.,
concurring: We join in the majority opinion but write separately to elaborate on why Hamilton’s remainder interest in the trust and the foundation’s 20-year annuity are not severable property for purposes of qualifying the disclaimer with respect to the portion of the disclaimed property that will pass to the trust.
Because disclaimers result in gratuitous transfers of property, the gift tax generally applies to transfers resulting from disclaimers. See sec. 2511(a). Section 2518 provides an exception which allows a disclaimant to avoid the second transfer tax for a…
2Cases cited1 opinion
- Thomas J. Walshire, of the Estate of Edward M. Walshire Everette R. Walshire, of the Estate of Edward M. Walshire v. United StatesCourt of Appeals for the Eighth Circuit · 2002