Fry v. Commissioner
United States Tax Court
1. Estate Tax -- Transfer -- Contemplation of Death -- Section 811 (c). -- A transfer to a key executive to hold him in the business was not, but a later transfer to his children was, in contemplation of death. 2. Estate Tax -- Transfer -- Retention of Income -- Section 811 (c). -- Stock given to daughter, "subject to your giving me the first dividends up to $ 15,000," was properly included in gross estate under section 811 (c), since the income was retained for a period…
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1. Estate Tax -- Transfer -- Contemplation of Death -- Section 811 (c). -- A transfer to a key executive to hold him in the business was not, but a later transfer to his children was, in contemplation of death. 2. Estate Tax -- Transfer -- Retention of Income -- Section 811 (c). -- Stock given to daughter, "subject to your giving me the first dividends up to $ 15,000," was properly included in gross estate under section 811 (c), since the income was retained for a period which in fact did not end before the decedent's death. 3. Estate Tax -- Value -- Blocked Foreign Securities. -- Value of…
1Opinion of the Court
OPINION.
Murdock, Judge:
The decedent was well and active at the time he made the gift of 100 shares of Feedwaters, Inc., to Lang. It was more than a year later that the prostatic condition caused him to consult a urologist and undergo an operation. The evidence shows that he had had difficulty in the past with those with whom he had been associated in the operation of Feedwaters, Inc., he had made similar gifts in prior years, he was well pleased with Lang and wanted him to continue as the manager of the business, and he gave the shares, not in contemplation of death, but to satisfy Lang and…
2Cases cited2 opinions
- Landau v. CommissionerUnited States Tax Court · 1946
- Holland v. CommissionerUnited States Tax Court · 1943
3Cited by31 opinions
- McNichol v. CommissionerUnited States Tax Court · 1958
- Cooper v. CommissionerUnited States Tax Court · 1950
- Greene v. United StatesCourt of Appeals for the Seventh Circuit · 1956
- Estate of Nicol v. CommissionerUnited States Tax Court · 1971
- Estate of Honigman v. CommissionerUnited States Tax Court · 1976
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