The Fort Worth National Bank, Independent of the Estate of Mary Lard, Deceased v. United States

This is an appeal by the Government of a decision of the district court granting a refund to the estate of Mary Lard. The main issue in the lower court was whether the value of a remainder interest in a wasting asset given to charity was sufficiently definite to be deductible. The district court held that it was and entered judgment for the trustee. Its thorough opinion is set out at 396 F.Supp. 337 (N.D.Tex.1975).

On appeal, the Government does not challenge the finding of the district court that the value of the remainder interest was sufficiently definite. Instead, it claims that the…