In re the Esate of Otto

John D. Bennett, S.

Following the audit of the Federal estate tax return the Internal Revenue Service disallowed the charitable deduction claimed by the executor for the old-law charitable remainder trust created by decedent’s will. This resulted in a Federal estate tax deficiency of $56,414.80. The trustees, in an effort to save the estate the additional Federal estate tax resulting from the denial of the charitable deduction as well as the increase in New York estate tax which would result, filed on October 9, 1975 a petition for the construction or reformation of the will so as to create a…