In Re Estate of Liebhardt

delivered the opinion of the Court. '

On December 29, 1947, Minnie K. Liebhardt died, leaving a large portion of her estate to her nephew, Fred C. Liebhardt. The Colorado Inheritance Tax on her estate was duly assessed and paid. On June 10, 1950, Fred C. Liebhardt died intestate, leaving as his sole heirs his widow, Louise Liebhardt, and a son, Fred C. Liebhardt, Jr. At the date of Fred’s death the bulk of his estate consisted of assets which he inherited from his aunt, together with other assets which could be identified as having been acquired by him in exchange for property he inherited…