Estate of Bailey v. Commissioner
United States Tax Court
In 1943, Joseph Bailey, Jr., died intestate leaving community property to which his and his widow's minor son, Joseph III, became entitled. His widow, who died in 1976 and whose estate is the petitioner in the instant case, took control of the entire community estate as unqualified community survivor and paid the community's debts.
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In 1943, Joseph Bailey, Jr., died intestate leaving community property to which his and his widow's minor son, Joseph III, became entitled. His widow, who died in 1976 and whose estate is the petitioner in the instant case, took control of the entire community estate as unqualified community survivor and paid the community's debts. She did not formally account to Joseph III for his share of his father's estate, but between 1951 and 1961 transferred to him cash and property with a value over 12 times the 1943 value of Joseph III's share of his father's estate. Held, on the facts, decedent's…
1Opinion of the Court
Featherston, Judge:
Respondent determined a deficiency in the amount of $293,499.81 in petitioner’s Federal estate tax for the Estate of Roberta L. Bailey who died in 1976. After concessions, the issues for decision are whether Joseph Bailey III has a valid claim against petitioner, his mother’s estate, based on his mother’s alleged failure to account to him for his share of the estate of his father (who died in 1943) and, if so, the amount of that claim.
FINDINGS OF FACT
Joseph W. Bailey III (Joseph III), independent executor of the Estate of Roberta L. Bailey, resided in Dallas, Tex., when he…
2Cases cited27 opinions
- Healy v. CommissionerSupreme Court of the United States · 1953
- Archer v. GriffithTexas Supreme Court · 1964
- Slay v. Burnett TrustTexas Supreme Court · 1945
- Omohundro v. MatthewsTexas Supreme Court · 1960
- Meadows v. BierschwaleTexas Supreme Court · 1974
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3Cited by3 opinions
- Estate of Roberta L. Bailey, Deceased, and Joseph W. Bailey, Iii, Independent v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1984
- Estate of Bailey v. CommissionerUnited States Tax Court · 1982
- Estate of Bailey v. CommissionerUnited States Tax Court · 1985