Estate of Pollock v. Commissioner
United States Tax Court
Held, decedent-transferee's discretionary life interest in a trust created by prior decedent did not constitute a fixed right to all or even a determinable portion of the distributable income for the remainder of her life, and was therefore not susceptible of valuation so as to qualify for an estate tax credit under sec. 2013(a), I.R.C. 1954.
1Opinion of the Court
Raum, Judge:
The Commissioner determined an estate tax deficiency in the amount of $31,922 in respect of the Estate of Shirley Pollock. After concessions, the only question remaining is whether her estate is entitled to a credit under section 2013, I.R.C. 1954, for the estate tax paid by the Estate of Sol Pollock, her husband, with respect to property in a trust the income of which was distributable after his death to his wife and children "in such proportions as [the trustee] determines without being required to maintain equality among them” in accordance with specified provisions.
FINDINGS OF…
2Cases cited14 opinions
- Merchants Nat. Bank of Boston v. CommissionerSupreme Court of the United States · 1943
- A. A. Lewis & Co. v. CommissionerSupreme Court of the United States · 1937
- Knauer v. BarnettSupreme Court of Florida · 1978
- Samuel H. Salisbury, as Under the Will of Ora S. Hitchcock v. United StatesCourt of Appeals for the Second Circuit · 1967
- The Florida Bank at Lakeland and J. B. O'neill, Co-Executors of Estate of Hugh H. Nelson, Deceased, and Cross v. United StatesCourt of Appeals for the Fifth Circuit · 1971
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3Cited by3 opinions
- Boryan v. United StatesDistrict Court, E.D. Virginia · 1988
- Estate of Beatrice Weinstein v. United StatesCourt of Appeals for the Sixth Circuit · 1987
- Estate of Pollock v. CommissionerUnited States Tax Court · 1981