Pritchard v. Commissioner
United States Tax Court
Decedent assigned insurance policies upon his own life of the face value of $ 50,000 to his wife, the beneficiary named therein, approximately thirty days before his death from cancer, for which he had undergone two unsuccessful operations prior to the transfer, in consideration of the payment to him of their approximate cash surrender value, amounting to slightly more than $ 10,000. Held, the transfer of the policies was made in contemplation of death and was not for an…
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Decedent assigned insurance policies upon his own life of the face value of $ 50,000 to his wife, the beneficiary named therein, approximately thirty days before his death from cancer, for which he had undergone two unsuccessful operations prior to the transfer, in consideration of the payment to him of their approximate cash surrender value, amounting to slightly more than $ 10,000. Held, the transfer of the policies was made in contemplation of death and was not for an adequate and full consideration; and the value of the policies so transferred was properly included in the decedent's…
1Opinion of the Court
OPINION.
Keen, Judge:
Although the petitioner does not expressly admit that the transfers here were made in contemplation of death, she does concede, in her brief, the insufficiency of the evidence to overcome the presumption to that effect, since the property constituted a material part of decedent’s estate and the transfers occurred only a few weeks before the transferor’s death. Even in the absence of such a. presumption, the evidence would convince us that the transfers were so made. Petitioner suggests that section 811 (c) of the Internal Revenue Code has no application to life insurance…
2Cases cited3 opinions
- United States v. RyersonSupreme Court of the United States · 1941
- Guggenheim v. RasquinSupreme Court of the United States · 1941
- Vanderlip v. CommissionerUnited States Tax Court · 1944
3Cited by9 opinions
- Hull v. CommissionerUnited States Tax Court · 1962
- Estate of Chown v. CommissionerUnited States Tax Court · 1968
- Estate of Harriet H. Chown, Deceased, Howard B. Somer v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1970
- United Bank v. BuckinghamDistrict Court, D. Maryland · 2018
- Ballard v. CommissionerUnited States Tax Court · 1992
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