Estate of Castleberry v. Commissioner
United States Tax Court
Decedent gave to his wife his community one-half share of certain property, so that it became her separate property. Under Texas law, the income from the transferred property was community property so that decedent owned a half share in such income.
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Decedent gave to his wife his community one-half share of certain property, so that it became her separate property. Under Texas law, the income from the transferred property was community property so that decedent owned a half share in such income. Held, decedent's gross estate includes (as a transfer with reserved life estate under sec. 2036(a)(1)) one-half of the transferred share (one-quarter of the whole). Estate of Hinds v. Commissioner, 11 T.C. 314 (1948), affd. on other grounds 180 F.2d 930 (5th Cir. 1950), followed.
1Opinion of the Court
Hall, Judge:
Respondent determined a deficiency in petitioner’s Federal estate tax in the amount of $148,406.72. Other issues having been disposed of by agreement of the parties, the sole issue remaining for decision is whether the value of gifts from decedent to his wife of his community interest in various bonds is includable in his gross estate, in whole or in part, under section 2036(a)(1)1 by reason of the post-transfer community property interest which under Texas law he had with regard to income from the transferred property.
FINDINGS OF FACT
The parties submitted this case under Rule…
2Cases cited19 opinions
- Jack E. Golsen and Sylvia H. Golsen v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1971
- Arnold v. LeonardTexas Supreme Court · 1925
- Hopkins v. BaconSupreme Court of the United States · 1930
- Estate of Spiegel v. CommissionerSupreme Court of the United States · 1949
- United States v. Estate of GraceSupreme Court of the United States · 1969
14 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- Beck v. BeckTexas Supreme Court · 1991
- Estate of Wyly v. CommissionerCourt of Appeals for the Fifth Circuit · 1980
- Estate of Charles J. Wyly, Sr., Flora E. Wyly, Independent (Charles J. Wyly, Jr. And Samuel Evans Wyly Substituted in the Place and Stead of Flora E. Wyly, Independent Deceased) v. Commissioner of Internal Revenue, Estate of Winston C. Castleberry, Deceased, Republic National Bank of Dallas, Independent Cross-Appellee v. Commissioner of Internal Revenue, Cross-Appellant. Russell M. Frankel, Donald E. Woodard and Southern National Bank of Houston, as Independent Co-Executors of the Estate of Jules R. Frankel, Deceased v. United StatesCourt of Appeals for the Fifth Circuit · 1980
- Estate of Wyly v. CommissionerUnited States Tax Court · 1977
- Beck v. BeckTexas Supreme Court · 1991
3 more not listed; retrieve them via the Exa API.