Blacksher v. Commissioner
United States Board of Tax Appeals
1. The proceeds of life insurance policies which provided for payment to the beneficiaries after decedent's death of annuities for a period of 20 years certain and as long thereafter as the beneficiaries should live, the decedent at the time of his death having no right to change the beneficiaries, to receive the cash surrender value of the policies, or to borrow money on the policies without the consent of the beneficiaries, held not includable in decedent's gross estate…
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1. The proceeds of life insurance policies which provided for payment to the beneficiaries after decedent's death of annuities for a period of 20 years certain and as long thereafter as the beneficiaries should live, the decedent at the time of his death having no right to change the beneficiaries, to receive the cash surrender value of the policies, or to borrow money on the policies without the consent of the beneficiaries, held not includable in decedent's gross estate for estate tax purposes. 2. The values of certain life insurance policies includable in decedent's gross estate determined…
1Opinion of the Court
*1003OPINION.
Smith:
Section 302 (g) of the Revenue Act of 1926 provides in material part as follows:
The value of the gross estate of the decedent shall be determined by including the value at the time of his death of all property. * * *
*******(g) To the extent of the amount receivable by the executor as insurance under policies taken out by the decedent upon his own life; and to the extent of the excess over $40,000 of the amount receivable by all other beneficiaries as insurance under policies taken out by the decedent upon his own life.
Article 27 of Regulations 70 (1929 Edition) provides in part:
I…
2Cases cited12 opinions
- Ithaca Trust Co. v. United StatesSupreme Court of the United States · 1929
- Chase National Bank v. United StatesSupreme Court of the United States · 1929
- May v. HeinerSupreme Court of the United States · 1930
- Central Bank of Washington v. HumeSupreme Court of the United States · 1888
- Bingham v. United StatesSupreme Court of the United States · 1935
7 more not listed; retrieve them via the Exa API.
3Cited by5 opinions
- Estate of Jordahl v. CommissionerUnited States Tax Court · 1975
- Blacksher v. CommissionerUnited States Board of Tax Appeals · 1938
- Central Hanover Bank & Trust Co. v. CommissionerUnited States Board of Tax Appeals · 1939
- Estate of Jordahl v. CommissionerUnited States Tax Court · 1975
- Mason v. CommissionerUnited States Board of Tax Appeals · 1941