Estate of Fine v. Commissioner
United States Tax Court
Decedent's will is governed by Virginia law. In his will, he bequeathed to his wife the marital residence and 50 percent of the residuary estate. Art. I of the will provides for payment of administrative expenses as soon as practicable after his death and for payment of estate and inheritance taxes out of the residuary estate without apportionment.
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Decedent's will is governed by Virginia law. In his will, he bequeathed to his wife the marital residence and 50 percent of the residuary estate. Art. I of the will provides for payment of administrative expenses as soon as practicable after his death and for payment of estate and inheritance taxes out of the residuary estate without apportionment. Art. IV grants the executor certain powers, duties, and discretion to be exercised in a manner that does not result in a loss of any part of the tax benefit afforded by the marital deduction. Held, the Virginia apportionment statute, which would…
1Opinion of the Court
Estate of James A. Fine, Deceased, Richard W. Harrell, Coexecutor, Petitioner v. Commissioner of Internal Revenue, Respondent
Estate of Fine v. Commissioner
Docket No. 13033-87
United States Tax Court
90 T.C. 1068; 1988 U.S. Tax Ct. LEXIS 69; 90 T.C. No. 71;
May 23, 1988May 23, 1988, Filed
Decision will be entered under Rule 155.
Decedent's will is governed by Virginia law. In his will, he bequeathed to his wife the marital residence and 50 percent of the residuary estate. Art. I of the will provides for payment of administrative expenses as soon as practicable after his death and for payment of…
2Cases cited17 opinions
- Riggs v. Del DragoSupreme Court of the United States · 1942
- United States v. StapfSupreme Court of the United States · 1964
- Baylor v. National Bank of CommerceSupreme Court of Virginia · 1952
- Estate of Richardson v. CommissionerUnited States Tax Court · 1987
- Alexandria National Bank v. ThomasSupreme Court of Virginia · 1973
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