Abbett v. Commissioner
United States Tax Court
1. Gifts which were made by decedent to his three living children on April 21, 1941, nearly four years prior to his death January 6, 1945, were made from motives associated with life and not death, were not made in contemplation of death, and were not testamentary in character.
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1. Gifts which were made by decedent to his three living children on April 21, 1941, nearly four years prior to his death January 6, 1945, were made from motives associated with life and not death, were not made in contemplation of death, and were not testamentary in character. Held, the value of the property included in such gifts is not includible in decedent's gross estate under section 811 (c) of the Internal Revenue Code. 2. Decedent was the settlor of a trust estate in 1926 in which he reserved the income for life to himself with remainder over to others. The value of the property in…
1Opinion of the Court
OPINION.
Black, Judge:
Issue 1.
As has been mentioned in our preliminary statement the Commissioner, in his determination of the deficiency, has added three items to the net estate as reported by petitioners on the estate tax return: Item 1 was the value of the corpus of a trust which decedent created October 21,1926, and which the Commissioner valued at $2,652,835.73; Item 2 was the value of the corpus of a trust which was created by Emu Associates, Inc., on August 18,1936, and which the Commissioner valued at $150,000; and Item 3 was the value of gifts which decedent made to his three children…
2Cases cited6 opinions
- United States v. WellsSupreme Court of the United States · 1931
- Commissioner of Internal Revenue v. DavisCourt of Appeals for the First Circuit · 1943
- Haggart's Estate v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1950
- Haggart v. CommissionerUnited States Tax Court · 1949
- Clark v. CommissionerUnited States Tax Court · 1943
1 more not listed; retrieve them via the Exa API.
3Cited by16 opinions
- Estate of Heckscher v. CommissionerUnited States Tax Court · 1975
- Burrow Trust v. CommissionerUnited States Tax Court · 1963
- In Re Estate of Marcellus L. Joslyn, Deceased. Robert D. MacDonald v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1974
- Estate of Reilly v. CommissionerUnited States Tax Court · 1981
- Estate of Joslyn v. CommissionerUnited States Tax Court · 1972
11 more not listed; retrieve them via the Exa API.