Hite v. Commissioner
United States Tax Court
Decedent, a retired businessman and farmer, owned a valuable family farm and other unimproved real estate on the outskirts of Louisville, Ky. In 1946, shortly after his retirement, when he was 76 years old, he suffered a stroke which left him physically incapacitated and seriously impaired his speech. Thereafter he was hospitalized on numerous occasions.
Read the full summary
Decedent, a retired businessman and farmer, owned a valuable family farm and other unimproved real estate on the outskirts of Louisville, Ky. In 1946, shortly after his retirement, when he was 76 years old, he suffered a stroke which left him physically incapacitated and seriously impaired his speech. Thereafter he was hospitalized on numerous occasions. In 1952 he sold 1 tract of his land, and the following year gave the entire proceeds to his three children in equal shares. Thereafter, as he sold additional parcels, he made further gifts to his descendants in general accord with his…
1Opinion of the Court
OPINION
Petitioners argue first that the gifts reported as having been made in 1958 and 1959 were in fact completed gifts in 1954 (or 1956 at the latest), and, therefore, these transfers do not fall within the 3-year period specified by section 2035. Secondly, they urge that even if decedent did not make the gifts in issue until 1958 and 1959, within a period of 3 years ending with the date of his death, that the gifts were prompted by “life motives” and were not made in contemplation ■of death. Respondent opposes both contentions. He is aided by the statutory presumption of section 2035…
2Cases cited5 opinions
- United States v. WellsSupreme Court of the United States · 1931
- Allen v. Trust Co. of Ga.Supreme Court of the United States · 1946
- Weil v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1936
- Estate of Johnson v. CommissionerUnited States Tax Court · 1948
- Estate of Lynch v. CommissionerUnited States Tax Court · 1960
3Cited by2 opinions
- Hite v. CommissionerUnited States Tax Court · 1968
- Patch v. CommissionerUnited States Tax Court · 1980