Estate of McKee v. Commissioner
United States Tax Court
Decedent, a resident of Texas, a community property state, made inter vivos transfers of an insurance policy and cash to his wife. The cash and insurance policy premiums were paid from community property funds.
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Decedent, a resident of Texas, a community property state, made inter vivos transfers of an insurance policy and cash to his wife. The cash and insurance policy premiums were paid from community property funds. Held, decedent retained no incidents of ownership in the insurance policy under sec. 2042(2), I.R.C. 1954. Held further, under Texas law, decedent retained the right to the income from the cash for his life within the meaning of sec. 2036(a)(1), I.R.C. 1954. Estate of Castleberry v. Commissioner,68 T.C. 682 (1977), and Estate of Wyly v. Commissioner,69 T.C. 227 (1977), followed. Held…
1Opinion of the Court
THE ESTATE OF ROY R. McKEE, DECEASED, RUBY O. McKEE, INDEPENDENT EXECUTRIX, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Estate of McKee v. Commissioner
Docket No. 4858-75.
United States Tax Court
T.C. Memo 1978-108; 1978 Tax Ct. Memo LEXIS 409; 37 T.C.M. (CCH) 486; T.C.M. (RIA) 780108;
March 20, 1978, Filed
Decedent, a resident of Texas, a community property state, made inter vivos transfers of an insurance policy and cash to his wife. The cash and insurance policy premiums were paid from community property funds. Held, decedent retained no incidents of ownership in the insurance…
2Cases cited14 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- Arnold v. LeonardTexas Supreme Court · 1925
- Lang v. CommissionerSupreme Court of the United States · 1938
- Estate of Daniel McNichol Deceased, Ellen McNichol Evangelista and Joseph G. McNichol Executors v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1959
- Moss v. GibbsTexas Supreme Court · 1963
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