Guaranty Trust Co. v. Commissioner
United States Board of Tax Appeals
1. ESTATES - LIFE INSURANCE POLICIES. - Where beneficiary or assignee of policy was designated with proviso, if she survive the insured, held, such designation was not contingent and death of insured did not cause cessation of an interest subject to estate tax.
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1. ESTATES - LIFE INSURANCE POLICIES. - Where beneficiary or assignee of policy was designated with proviso, if she survive the insured, held, such designation was not contingent and death of insured did not cause cessation of an interest subject to estate tax. Bingham v. United States,296 U.S. 211. 2. Id. - Where insured did not reserve right to change the assignee, his wife, and under laws of New York, where contract of insurance was executed, her consent was necessary to the insured's exercise of any of the benefits under the policies, held, insured did not have, at death, any incidents of…
1Opinion of the Court
GUARANTY TRUST COMPANY OF NEW YORK, RACHEL LUSTIG, ELIAS LUSTIG, AND LEONARD J. OBERMEIER, AS EXECUTORS OF THE ESTATE OF DAVID L. LUSTIG, DECEASED, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Guaranty Trust Co. v. Commissioner
Docket No. 70582.
United States Board of Tax Appeals
33 B.T.A. 1225; 1936 BTA LEXIS 766;
February 28, 1936, Promulgated
1. ESTATES - LIFE INSURANCE POLICIES. - Where beneficiary or assignee of policy was designated with proviso, if she survive the insured, held, such designation was not contingent and death of insured did not cause cessation of an interest…
2Cases cited2 opinions
- Bingham v. United StatesSupreme Court of the United States · 1935
- Guaranty Trust Co. v. CommissionerUnited States Board of Tax Appeals · 1936