Poinier v. Commissioner
United States Tax Court
Decedent held a remainder interest in a testamentary trust created in 1937 by the will of her father. On Apr. 19, 1970, only 5 days after the death of the life tenant, decedent executed a disclaimer of her remainder interest.
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Decedent held a remainder interest in a testamentary trust created in 1937 by the will of her father. On Apr. 19, 1970, only 5 days after the death of the life tenant, decedent executed a disclaimer of her remainder interest. Held, the disclaimer was not made within a reasonable time as required by sec. 25.2511-1(c), Gift Tax Regs., and thus constituted a taxable transfer under sec. 2511, I.R.C., 1954. Jewett v. Commissioner, 455 U.S. 305 (1982). Held, further, decedent's children are liable as donee-transferees under sec. 6324(b), I.R.C. 1954, for the deficiency in gift tax due from…
1Opinion of the Court
TANNENWALD, Judge:
Respondent determined the following deficiencies/liabilities in petitioners’ Federal gift taxes:
Docket No. Year Deficiencies/liabilities
23881-81 1970 $5,172,500.92
23882-81 1970 5,172,500.92
23883-81 1970 s5,172,500.92
The issues for decision are: (1) Whether the disclaimer and renunciation made by decedent in 1970, of a remainder interest in the testamentary trust created by her father’s will in 1937, constituted a táxable transfer under section 2511;2 (2) in the event we find that a taxable transfer did take place, whether decedent’s children who took by default under the…
2Cases cited29 opinions
- Commissioner v. SternSupreme Court of the United States · 1958
- Commissioner v. Gooch Milling & Elevator Co.Supreme Court of the United States · 1944
- Mysse v. CommissionerUnited States Tax Court · 1972
- Schuster v. CommissionerCourt of Appeals for the Ninth Circuit · 1962
- Jewett v. CommissionerSupreme Court of the United States · 1982
24 more not listed; retrieve them via the Exa API.
3Cited by18 opinions
- Estate of Mueller v. Comm'rUnited States Tax Court · 1993
- McDonald v. CommissionerUnited States Tax Court · 1987
- Baptiste v. CommissionerUnited States Tax Court · 1993
- Poinier v. CommissionerUnited States Tax Court · 1988
- Baptiste v. CommissionerUnited States Tax Court · 1992
13 more not listed; retrieve them via the Exa API.