Estate of Lucas v. Commissioner
United States Tax Court
D executed a will and a trust agreement on March 24, 1978, prior to the enactment of the Economic Recovery Tax Act of 1981 (ERTA), Pub. L. 97-34, 95 Stat. 305. Held: The provision of the trust agreement providing for the funding, at D's death, of a "marital trust" does not contain the type of formula marital deduction clause contemplated by section 403(e)(3) of ERTA.
Read the full summary
D executed a will and a trust agreement on March 24, 1978, prior to the enactment of the Economic Recovery Tax Act of 1981 (ERTA), Pub. L. 97-34, 95 Stat. 305. Held: The provision of the trust agreement providing for the funding, at D's death, of a "marital trust" does not contain the type of formula marital deduction clause contemplated by section 403(e)(3) of ERTA. Therefore, section 403(e)(3) of ERTA does not preclude petitioner from qualifying for an unlimited marital deduction under section 2056. Estate of Levitt v. Commissioner, 95 T.C. 289 (1990), controlling.
1Opinion of the Court
ESTATE OF JOHN H. LUCAS, JR., DECEASED, THE MERCHANTS BANK OF KANSAS CITY, PERSONAL REPRESENTATIVE, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Estate of Lucas v. Commissioner
Docket No. 32910-88
United States Tax Court
T.C. Memo 1991-22; 1991 Tax Ct. Memo LEXIS 26; 61 T.C.M. (CCH) 1703; T.C.M. (RIA) 91022;
January 22, 1991, Filed
Decision will be entered under Rule 155.
D executed a will and a trust agreement on March 24, 1978, prior to the enactment of the Economic Recovery Tax Act of 1981 (ERTA), Pub. L. 97-34, 95 Stat. 305. Held: The provision of the trust agreement providing for…
2Cases cited1 opinion
- Estate of Levitt v. CommissionerUnited States Tax Court · 1990