Estate of Murphy v. Comm'r
United States Tax Court
The decedent was the donee of a special power of appointment over certain property. At her death, she exercised this power by creating in her husband a second power of appointment with respect to the same property. Held: Under Wisconsin's rule against perpetuities, the perpetuities period for an interest appointed under a special power is computed from the date of the power's creation rather than from its exercise.
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The decedent was the donee of a special power of appointment over certain property. At her death, she exercised this power by creating in her husband a second power of appointment with respect to the same property. Held: Under Wisconsin's rule against perpetuities, the perpetuities period for an interest appointed under a special power is computed from the date of the power's creation rather than from its exercise. Thus, under these facts, sec. 2041(a)(3), I.R.C. 1954, does not apply to the decedent's exercise of her special power.
1Opinion of the Court
Estate of Mary Margaret Murphy, Deceased, John Falk Murphy, Personal Representative, Petitioner v. Commissioner of Internal Revenue, Respondent
Estate of Murphy v. Comm'r
Docket No. 3880-76
United States Tax Court
71 T.C. 671; 1979 U.S. Tax Ct. LEXIS 182;
January 29, 1979, Filed
Decision will be entered for the petitioner.
The decedent was the donee of a special power of appointment over certain property. At her death, she exercised this power by creating in her husband a second power of appointment with respect to the same property. Held: Under Wisconsin's rule against perpetuities, the…
2Cases cited2 opinions
- Harris v. BurgerWisconsin Supreme Court · 1950
- Estate of Murphy v. Comm'rUnited States Tax Court · 1979