Higgs v. Commissioner
United States Tax Court
Estate Tax -- Gross Estate -- Survivorship Annuity -- 811 (c) I.R.C. -- The decedent, the absolute owner of an annuity contract paid for by his employer under a retirement pension plan, exercised an option in the contract with the insurance company whereby his annuity was reduced in consideration of the agreement by the insurance company to pay his wife a part of the annuity for her life, beginning at his death, provided she survived him.
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Estate Tax -- Gross Estate -- Survivorship Annuity -- 811 (c) I.R.C. -- The decedent, the absolute owner of an annuity contract paid for by his employer under a retirement pension plan, exercised an option in the contract with the insurance company whereby his annuity was reduced in consideration of the agreement by the insurance company to pay his wife a part of the annuity for her life, beginning at his death, provided she survived him. Held, that the arrangement was a transfer within section 811 (c) and the value of a survivorship annuity as of the date of the decendent's death was…
1Opinion of the Court
OPINION.
Murdock, Judge:
The Commissioner determined a deficiency of $24,514.59 in estate tax. He added to the net estate, as disclosed by the return, $78,036 as the cost of a survivorship annuity payable to the decedent’s widow. The issues for decision are whether some amount should be included in the gross estate representing the value of the survivorship annuity as a transfer within the meaning of section 811 (c) of the Internal Revenue Code and what the correct amount to represent that value is. The facts have been stipulated.
William J. Higgs, referred to herein as the decedent, died on May…
2Cases cited2 opinions
- Helvering v. HallockSupreme Court of the United States · 1940
- Estate of Nevin v. CommissionerUnited States Tax Court · 1948
3Cited by37 opinions
- Fusz v. CommissionerUnited States Tax Court · 1966
- Carrie Kramer and Julius Kramer, Executors of the Estate of Abraham Kramer, Deceased v. The United StatesUnited States Court of Claims · 1969
- Higgs' Estate v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1950
- Commissioner of Internal Revenue v. Twogood's EstateCourt of Appeals for the Second Circuit · 1952
- Estate of Fried v. CommissionerUnited States Tax Court · 1970
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