Estate of Jalkut v. Commissioner
United States Tax Court
In 1971, D created a revocable trust. In the absence of his incapacity, D was the sole permissible beneficiary of the income and principal of the trust during his lifetime. D named himself trustee of the trust. In 1984, D was informed that he had inoperable cancer. In 1984, D made various gift transfers from the revocable trust. In January 1985, D's physician declared that D would no longer be able to serve as trustee.
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In 1971, D created a revocable trust. In the absence of his incapacity, D was the sole permissible beneficiary of the income and principal of the trust during his lifetime. D named himself trustee of the trust. In 1984, D was informed that he had inoperable cancer. In 1984, D made various gift transfers from the revocable trust. In January 1985, D's physician declared that D would no longer be able to serve as trustee. At that time, substitute trustees were appointed for the revocable trust and additional gift transfers were made from the trust. D died testate in 1985. Held, gift transfers…
1Opinion of the Court
OPINION
NlMS, Chief Judge:
Respondent determined a deficiency in petitioner’s Federal estate tax in the amount of $55,184.
The issue for decision is whether gift transfers made from the decedent’s revocable trust within 3 years of his death are included in his gross estate pursuant to sections 2035(d)(2) and 2038(a)(1). (Unless otherwise indicated, section references are to sections of the Interned Revenue Code in effect as of the date of the decedent’s death. Rule references are to the Tax Court Rules of Practice and Procedure.)
Background
This case was submitted fully stipulated. The stipulation…
2Cases cited15 opinions
- Aquilino v. United StatesSupreme Court of the United States · 1960
- United States v. WellsSupreme Court of the United States · 1931
- Estate of Sanford v. CommissionerSupreme Court of the United States · 1939
- Rowan Cos. v. United StatesSupreme Court of the United States · 1981
- Allen v. Trust Co. of Ga.Supreme Court of the United States · 1946
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3Cited by39 opinions
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- BUNNEY v. COMMISSIONER OF INTERNAL REVENUEUnited States Tax Court · 2000
- Estate of Cristofani v. CommissionerUnited States Tax Court · 1991
- Canterbury v. CommissionerUnited States Tax Court · 1992
- Fowler v. CommissionerUnited States Tax Court · 1992
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