Estate of Silverman v. Commissioner
United States Tax Court
The decedent assigned a life insurance policy on his life to his son, approximately 6 months prior to his death. After the transfer, the son paid the insurance premiums. Held, the transfer of the life insurance policy was made in contemplation of death within the meaning of sec. 2035, I.R.C. 1954. Held, further, the quantum of inclusion is that portion of the face value equal to the ratio of premiums paid by the decedent to total premiums paid.
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The decedent assigned a life insurance policy on his life to his son, approximately 6 months prior to his death. After the transfer, the son paid the insurance premiums. Held, the transfer of the life insurance policy was made in contemplation of death within the meaning of sec. 2035, I.R.C. 1954. Held, further, the quantum of inclusion is that portion of the face value equal to the ratio of premiums paid by the decedent to total premiums paid. Held, further, the gross estate must also include certain jewelry having a fair market value of $ 780 which the decedent inherited from his wife.
1Opinion of the Court
Estate of Morris R. Silverman, Avrum Silverman, Executor, Petitioner v. Commissioner of Internal Revenue, Respondent
Estate of Silverman v. Commissioner
Docket No. 6741-70
United States Tax Court
61 T.C. 338; 1973 U.S. Tax Ct. LEXIS 9; 61 T.C. No. 37;
December 6, 1973, Filed
Decision will be entered under Rule 50.
The decedent assigned a life insurance policy on his life to his son, approximately 6 months prior to his death. After the transfer, the son paid the insurance premiums. Held, the transfer of the life insurance policy was made in contemplation of death within the meaning of sec. 2035,…
2Cases cited20 opinions
- United States v. WellsSupreme Court of the United States · 1931
- Milliken v. United StatesSupreme Court of the United States · 1931
- Estate of Johnson v. CommissionerUnited States Tax Court · 1948
- First Trust & Deposit Co. v. ShaughnessyCourt of Appeals for the Second Circuit · 1943
- Vanderlip v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1946
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