Estate of Porter v. Commissioner
United States Tax Court
Decedent, approximately 3 weeks before his death, entered into identical contracts with three corporations of which he was an officer and employee, under which as an inducement to the decedent to remain in their employ, the corporations agreed to make certain payments to his surviving spouse or issue if the decedent was in the employ of each of those corporations at his death.
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Decedent, approximately 3 weeks before his death, entered into identical contracts with three corporations of which he was an officer and employee, under which as an inducement to the decedent to remain in their employ, the corporations agreed to make certain payments to his surviving spouse or issue if the decedent was in the employ of each of those corporations at his death. The contracts provided that they were to be binding on the successors, heirs, executors, and administrators of the parties and could not be terminated or altered without the written consent of all parties. Held, the…
1Concurrence
Quealy, /.,
concurring: I agree with the majority’s holding that the commuted value of the payments is taxable as a part of the estate of the decedent, but I would reach that result under a different provision of the statute.
In my opinion, the commuted value of the payments to be received by the decedent’s surviving spouse or issue is includable in the gross estate of the decedent under section 2033 of the 1954 Code.1 That section provides as follows:
SEO. 2033. PROPERTY IN WHICH THE DECEDENT HAD AN INTEREST.
The value of the gross estate shall include the value of all property to the extent of…
2Cases cited25 opinions
- Estate of J. William Bahen, Deceased, Kathleen Privett Bahen, Sole v. The United StatesUnited States Court of Claims · 1962
- Comstock v. BowlesMassachusetts Supreme Judicial Court · 1936
- Carrie Kramer and Julius Kramer, Executors of the Estate of Abraham Kramer, Deceased v. The United StatesUnited States Court of Claims · 1969
- Estate of Salt v. CommissionerUnited States Tax Court · 1951
- Worthen v. United StatesDistrict Court, D. Massachusetts · 1961
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