In re the Estate of McKim

Delehanty, S.

The trustee of the residuary trust created by the will of deceased moves for an order exempting from transfer tax the remainder interest in the trust. By reason of the death of the life tenant the remainder is presently payable. The sole question presented by the motion is whether or not the charitable corporation entitled to the remainder can claim the benefit of the exemption provisions of the Tax Law.

The American Academy in Rome was incorporated under the laws of New York on June 21, 1897. This corporation has never been dissolved. Later, by act of Congress approved March 3,…