Estate of McCoy v. Commissioner
United States Tax Court
1. Pursuant to a property settlement agreement between decedent and his then wife, the Eldorado Apartments were transferred by the McCoy Realty Company, a corporation controlled by decedent, to the decedent for life, with remainder in fee in equal parts to their three children. Subsequently the property settlement agreement was incorporated in the divorce decree.
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1. Pursuant to a property settlement agreement between decedent and his then wife, the Eldorado Apartments were transferred by the McCoy Realty Company, a corporation controlled by decedent, to the decedent for life, with remainder in fee in equal parts to their three children. Subsequently the property settlement agreement was incorporated in the divorce decree. Held, the transfer of the Eldorado Apartments was made for an "adequate and full consideration in money or money's worth" and, accordingly, the value thereof is not includible in decedent's gross estate under sec. 2036(a)(1), I.R.C.…
1Opinion of the Court
Estate of Bryan S. McCoy, Sr., Deceased, Bryan S. McCoy, Jr., Executor v. Commissioner.
Estate of McCoy v. Commissioner
Docket No. 65895.
United States Tax Court
T.C. Memo 1961-40; 1961 Tax Ct. Memo LEXIS 303; 20 T.C.M. (CCH) 224; T.C.M. (RIA) 61040;
February 21, 1961
1. Pursuant to a property settlement agreement between decedent and his then wife, the Eldorado Apartments were transferred by the McCoy Realty Company, a corporation controlled by decedent, to the decedent for life, with remainder in fee in equal parts to their three children. Subsequently the property settlement agreement was…
2Cases cited12 opinions
- Goode v. ReynoldsCourt of Appeals of Kentucky (pre-1976) · 1925
- Dutcher v. CommissionerUnited States Tax Court · 1960
- Gernert v. Liberty Nat. Bank & Trust Co. of LouisvilleCourt of Appeals of Kentucky (pre-1976) · 1940
- Skinner v. MorrowCourt of Appeals of Kentucky (pre-1976) · 1958
- Douglas' Administrator v. Douglas'Court of Appeals of Kentucky (pre-1976) · 1932
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3Cited by2 opinions
- United States v. Rhode Island Hospital Trust CompanyCourt of Appeals for the First Circuit · 1966
- HASKINS'ESTATE v. United StatesDistrict Court, N.D. California · 1965