Newman v. Commissioner
United States Board of Tax Appeals
Proceeds of life insurance policies, in excess of $40,000 exemption, should be included in gross estate where decedent, who was a resident of Louisiana and died in 1928, retained to the date of his death power to change the beneficiary, notwithstanding the policies (except one) were all taken out prior to the enactment of the Revenue Act of 1918, and the premiums on the policies were paid out of community income.
1Opinion of the Court
JACOB K. NEWMAN AND ELSA SCHWARTZ NEWMAN, EXECUTORS, ESTATE OF EDGAR NEWMAN, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT
Newman v. Commissioner
Docket No. 49553.
United States Board of Tax Appeals
29 B.T.A. 53; 1933 BTA LEXIS 1007;
September 26, 1933, Promulgated
Proceeds of life insurance policies, in excess of $40,000 exemption, should be included in gross estate where decedent, who was a resident of Louisiana and died in 1928, retained to the date of his death power to change the beneficiary, notwithstanding the policies (except one) were all taken out prior to the enactment of…
2Cases cited30 opinions
- Poe v. SeabornSupreme Court of the United States · 1930
- Reinecke v. Northern Trust Co.Supreme Court of the United States · 1929
- Chase National Bank v. United StatesSupreme Court of the United States · 1929
- Porter v. CommissionerSupreme Court of the United States · 1933
- Lewellyn v. FrickSupreme Court of the United States · 1925
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