Bowers v. Commissioner
United States Tax Court
Pursuant to the provisions of a property settlement agreement, decedent maintained two policies of life insurance on his life with his former wife as the beneficiary. The property settlement agreement was approved and incorporated by reference in a divorce decree granted decedent's former wife. The proceeds of the policies were made available to decedent's former wife upon decedent's death.
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Pursuant to the provisions of a property settlement agreement, decedent maintained two policies of life insurance on his life with his former wife as the beneficiary. The property settlement agreement was approved and incorporated by reference in a divorce decree granted decedent's former wife. The proceeds of the policies were made available to decedent's former wife upon decedent's death. The only rights in the policies retained by the decedent were a reversionary interest which did not exceed 5 per cent and the right to dividends. Held, decedent possessed no "incidents of ownership" in the…
1Opinion of the Court
Estate of Chester H. Bowers, Deceased, Security-First National Bank of Los Angeles, Executor, Petitioner, v. Commissioner of Internal Revenue, Respondent
Bowers v. Commissioner
Docket No. 37909
United States Tax Court
23 T.C. 911; 1955 U.S. Tax Ct. LEXIS 240;
February 21, 1955, Filed
Decision will be entered under Rule 50.
Pursuant to the provisions of a property settlement agreement, decedent maintained two policies of life insurance on his life with his former wife as the beneficiary. The property settlement agreement was approved and incorporated by reference in a divorce decree granted…
2Cases cited40 opinions
- Harris v. CommissionerSupreme Court of the United States · 1950
- Hough v. HoughCalifornia Supreme Court · 1945
- Adams v. AdamsCalifornia Supreme Court · 1947
- Dexter v. DexterCalifornia Supreme Court · 1954
- Flynn v. FlynnCalifornia Supreme Court · 1954
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