Estate of Agnello v. Commissioner
United States Tax Court
Held, the estate tax marital deduction does not include the amount received by the surviving spouse in the settlement of her claim to her elective share under New Jersey law to the extent that the amount received includes a portion of the postdeath enhancement in value of the estate assets. Secs. 2031, 2056, I.R.C.Estate of Hubert v. Commissioner, 101 T.C. 314 (1993), distinguished.
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Held, the estate tax marital deduction does not include the amount received by the surviving spouse in the settlement of her claim to her elective share under New Jersey law to the extent that the amount received includes a portion of the postdeath enhancement in value of the estate assets. Secs. 2031, 2056, I.R.C.Estate of Hubert v. Commissioner, 101 T.C. 314 (1993), distinguished. The fact that New Jersey law may provide for valuation of the widow's elective share as of the date of distribution is irrelevant in the application of the Federal statute. Cf. Morgan v. Commissioner, 309 U.S. 78,…
1Opinion of the Court
OPINION
Raum, Judge'.
The Commissioner determined a Federal estate tax deficiency of $96,383.84 (less $17,130.52 additional credit for State death taxes, if substantiated). After concessions, the only matter in controversy relates to payments made by petitioner to the decedent’s widow in settlement of her claim for her statutory elective share under New Jersey law. At issue is whether petitioner is entitled to a marital deduction under section 20561 to the extent that such payments reflected appreciation in the value of the estate assets that occurred subsequent to the death of the decedent.…
2Cases cited8 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- Commissioner v. Estate of BoschSupreme Court of the United States · 1967
- Morgan v. CommissionerSupreme Court of the United States · 1940
- Jackson v. United StatesSupreme Court of the United States · 1964
- Estate of Hubert v. CommissionerUnited States Tax Court · 1993
3 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Estate of Agnello v. CommissionerUnited States Tax Court · 1994