Reilly v. Commissioner
United States Tax Court
The proceeds of insurance policies on the life of the decedent were payable in equal installments to the surviving spouse for life. If she were to die within 10 years the installments were to continue to be paid for the remainder of the 10 years to certain contingent beneficiaries.
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The proceeds of insurance policies on the life of the decedent were payable in equal installments to the surviving spouse for life. If she were to die within 10 years the installments were to continue to be paid for the remainder of the 10 years to certain contingent beneficiaries. Held, the right to all of the installments was one "property" within the purview of section 812 (e) (1) (B), Internal Revenue Code of 1939, and therefore, as persons other than the surviving spouse might possess or enjoy some part of the property after the termination of the interest of the surviving spouse, no…
1Opinion of the Court
Estate of Joseph E. Reilly, Deceased, Grace F. Reilly, Administratrix, Petitioner, v. Commissioner of Internal Revenue, Respondent
Reilly v. Commissioner
Docket No. 53221
United States Tax Court
25 T.C. 366; 1955 U.S. Tax Ct. LEXIS 38;
November 30, 1955, Filed
Decision will be entered under Rule 50.
The proceeds of insurance policies on the life of the decedent were payable in equal installments to the surviving spouse for life. If she were to die within 10 years the installments were to continue to be paid for the remainder of the 10 years to certain contingent beneficiaries. Held, the right to all…
2Cases cited5 opinions
- Commissioner of Internal Revenue v. Twogood's EstateCourt of Appeals for the Second Circuit · 1952
- Twogood v. CommissionerUnited States Tax Court · 1950
- White v. CommissionerUnited States Tax Court · 1954
- Kent Industrial Corp. v. CommissionerUnited States Tax Court · 1955
- Reilly v. CommissionerUnited States Tax Court · 1955