Continental Bank v. State of Ill.

PRESIDING JUSTICE CAMPBELL,

dissenting:

I respectfully dissent from the opinion of the majority. Section 25 of the 1959 version of the Illinois Inheritance Tax Act (Act) provides for a tax upon the transfer of inherited property as well as for reassessment of the tax when a power of appointment is exercised contrary to an assumption upon which a prior tax was assessed:

"When property is transferred or limited in trust or otherwise, and the rights, interest or estates of the transferees, or beneficiaries are dependent upon contingencies or conditions whereby they may be wholly or in part created,…