Stevens v. Commissioner
United States Tax Court
The probate estate of a Minnesota decedent was insufficient, after provision for satisfaction of debts, taxes, and administration expenses, to permit payment in full of all legacies; and the will did not make provision for such situation.
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The probate estate of a Minnesota decedent was insufficient, after provision for satisfaction of debts, taxes, and administration expenses, to permit payment in full of all legacies; and the will did not make provision for such situation. Held: That in such circumstance, the amount of the marital deduction claimed in the estate tax return should be reduced, to reflect the effect on the value of the property passing to the surviving spouse, of State inheritance tax, Federal estate tax, and debts and administration expenses which could not be satisfied out of the residue of the probate estate.…
1Opinion of the Court
Estate of Howard E. Stevens, Deceased, M. L. Countryman, Jr., and Mabel B. Stevens, Executors, Petitioner, v. Commissioner of Internal Revenue, Respondent
Stevens v. Commissioner
Docket No. 77545
United States Tax Court
36 T.C. 184; 1961 U.S. Tax Ct. LEXIS 158;
April 28, 1961, Filed
Decision will be entered under Rule 50.
The probate estate of a Minnesota decedent was insufficient, after provision for satisfaction of debts, taxes, and administration expenses, to permit payment in full of all legacies; and the will did not make provision for such situation. Held: That in such circumstance, the amount…
2Cases cited15 opinions
- Blair v. Oesterlein MacHine Co.Supreme Court of the United States · 1927
- Saulsbury v. United StatesCourt of Appeals for the Fifth Circuit · 1952
- Estate of Rainger v. CommissionerUnited States Tax Court · 1949
- In Re Estate of BowlinSupreme Court of Minnesota · 1933
- State ex rel. Smith v. Probate CourtSupreme Court of Minnesota · 1918
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