In re the Estate of Horchler
Appellate Division of the Supreme Court of the State of New York
1Opinion of the CourtHopkins, Acting P. J.
The issue is whether proceeds of insurance on the life of a decedent, receivable by his executrix or estate, are proceeds receivable by ‘ ‘ beneficiaries ’ ’ and thus exempt from estate tax under the provisions of paragraph (4) of subdivision (b) of section 958 of the Tax Law. The Surrogate has held that they are exempt from taxation (Matter of Horchler, 64 Misc 2d 438). We hold to the contrary.
The decedent’s gross estate was in the sum of $114,861.36, of which $71,915.20 represented the proceeds of eight insurance policies on the life of the decedent. Five of the policies (issued by New York…
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