Latty v. Commissioner
United States Board of Tax Appeals
1. Decedent, contemporaneously with the execution of his will leaving his estate to another, agreed to provide a trust fund for his daughter, either in his lifetime or after his death, in consideration of her promise to accept the agreement in full satisfaction of all claims, legal, moral and sentimental, growing out of her relationship to him, and to make no further claim or demand whatsoever against him or his estate, and not to contest any will theretofore or thereafter…
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1. Decedent, contemporaneously with the execution of his will leaving his estate to another, agreed to provide a trust fund for his daughter, either in his lifetime or after his death, in consideration of her promise to accept the agreement in full satisfaction of all claims, legal, moral and sentimental, growing out of her relationship to him, and to make no further claim or demand whatsoever against him or his estate, and not to contest any will theretofore or thereafter made by him. The decedent did not during his lifetime pay in trust any part of the amount mentioned in the agreement,…
1Dissent
Van Foss an,
dissenting: I find myself in disagreement with the majority of the Board on the first point involved in this case. The question is whether or not the failure of the decedent to perform fully his agreement with his daughter gave rise to a valid, enforceable claim against his estate, the amount of which is' deductible from the value of his gross estate.
Section 303(a)(1) of the Revenue Act of 1924 is applicable to this question. Pursuant to that section the value of the decedent’s *1258net estate is to be determined by deducting from the value of the gross estate certain items, specified…
2Cases cited7 opinions
- Smithsonian Institution v. MeechSupreme Court of the United States · 1898
- In Re the Probate of the Will of CookNew York Court of Appeals · 1926
- In re the Estate of GarcelonCalifornia Supreme Court · 1894
- Moss v. . CohenNew York Court of Appeals · 1899
- Grochowski v. GrochowskiNebraska Supreme Court · 1906
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