Estate of Gilchrist v. Commissioner
United States Tax Court
Decedent's husband died in 1960 and under his will after making specific bequests totaling $ 40,000, he bequeathed to his wife "the income the use and benefits with full rights to sell or transfer all the remainder of my property, both real and personal, so long as she may live, and at her death, any remainder of my estate not required for her use, shall be divided equally among" specific remaindermen.
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Decedent's husband died in 1960 and under his will after making specific bequests totaling $ 40,000, he bequeathed to his wife "the income the use and benefits with full rights to sell or transfer all the remainder of my property, both real and personal, so long as she may live, and at her death, any remainder of my estate not required for her use, shall be divided equally among" specific remaindermen. Decedent served as executrix of her husband's estate from the time of her qualification until Oct. 20, 1971, at which time she was legally declared a person of unsound mind and guardians of her…
1Opinion of the Court
Sterrett, Judge:
Respondent determined a deficiency in the estate tax of the Estate of Anna Lora Gilchrist in the amount of $231,051.83.1 Due to concessions by the parties2 the remaining issue for decision is whether the decedent held, at the time of her death, a general power of appointment, under her husband’s last will and testament, over jointly held property thereby causing it to be included in her gross estate under section 2041,1.R.C. 1954.3
FINDINGS OF FACT
Some of the facts have been stipulated and are so found. The stipulation of facts, together with the exhibits attached thereto, are…
2Cases cited33 opinions
- Morgan v. CommissionerSupreme Court of the United States · 1940
- Helvering v. StuartSupreme Court of the United States · 1942
- Long v. KnoxTexas Supreme Court · 1956
- Nye v. BradfordTexas Supreme Court · 1946
- Huffman v. HuffmanTexas Supreme Court · 1960
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3Cited by17 opinions
- Estate of Alperstein v. CommissionerUnited States Tax Court · 1978
- Pennsylvania Bank and Trust Company, of the Estate of Ethel S. Brice, Deceased v. United StatesCourt of Appeals for the Third Circuit · 1979
- Pennsylvania Bank & Trust Co. v. United StatesDistrict Court, W.D. Pennsylvania · 1978
- Estate of Pfohl v. CommissionerUnited States Tax Court · 1977
- Estate of Gilchrist v. CommissionerCourt of Appeals for the Fifth Circuit · 1980
12 more not listed; retrieve them via the Exa API.