Legal Opinion
Estate of Warshaw v. Director, Division of Taxation
New Jersey Superior Court Appellate Division
Decided June 10, 2013Published
1Per curiam
Defendant Director, Division of Taxation, appeals from a July 6, 2012 order granting summary judgment to plaintiff Estate of Theodore Warshaw allowing a tax refund in the amount of $88,677. We reverse.
On May 27, 2006, decedent died. At that time, he had owned an Individual Retirement Account (IRA) with Bernard L. Madoff Investment Securities, LLC (BLMIS). During decedent’s lifetime, he had invested $627,173.25 in the IRA and received distributions in the amount of $1,113,338.67. Shortly after his death, the Estate’s executors transferred the IRA to a trust for the benefit of decedent’s wife,…
2Cases cited11 opinions
- Ithaca Trust Co. v. United StatesSupreme Court of the United States · 1929
- Metromedia, Inc. v. Director, Division of TaxationSupreme Court of New Jersey · 1984
- In Re Bernard L. Madoff Investment Securities LLCCourt of Appeals for the Second Circuit · 2011
- General Trading Co. v. Taxation Div. DirectorSupreme Court of New Jersey · 1980
- The First National Bank of Kenosha, as Personal Representative of the Estate of Ethel M. Rudy v. United StatesCourt of Appeals for the First Circuit · 1985
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