Estate of Gerson v. Comm'r
United States Tax Court
G created the Benjamin Gerson Trust which became irrevocable when G died in 1973. The trust provided for the creation of a marital trust (the trust) for the benefit of G's wife, D. The trust conferred upon D a general power of appointment over the trust property. D died in October 2000 and left a will under which she exercised the power of appointment in favor of her grandchildren.
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G created the Benjamin Gerson Trust which became irrevocable when G died in 1973. The trust provided for the creation of a marital trust (the trust) for the benefit of G's wife, D. The trust conferred upon D a general power of appointment over the trust property. D died in October 2000 and left a will under which she exercised the power of appointment in favor of her grandchildren. R determined that the transfer to D's grandchildren was subject to generation-skipping transfer (GST) tax. P contends (1) sec. 26.2601-1(b)(1)(i), GST Tax Regs., is invalid, and (2) the transfer is excepted from…
1DissentLaro, J.
The Court’s opinion concludes supra p. 157 that respondent’s interpretation of section 1433(b)(2)(A) of the Tax Reform Act of 1986 (TRA 1986), Pub. L. 99-514, 100 Stat. 2731, “is a reasonable and valid interpretation of the plain language of TRA 1986 section 1433(b)(2)(A)”. Because I disagree, I dissent.1 As the Courts of Appeals for the Eighth and Ninth Circuits held in Simpson v. United States, 183 F.3d 812 (8th Cir. 1999), and Bachler v. United States, 281 F.3d 1078 (9th Cir. 2002), factual settings that the Court’s opinion supra pp. 148 and 150 acknowledges are “nearly identical” to the…
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