Estate of Stewart v. Commissioner
United States Tax Court
Decedent and his wife owned certain real property as tenants by the entirety. They executed a mutual will which provided that a one-half interest in such real property would go immediately to their children upon the death of the first of them.
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Decedent and his wife owned certain real property as tenants by the entirety. They executed a mutual will which provided that a one-half interest in such real property would go immediately to their children upon the death of the first of them. Held: Under State law the tenancies by the entirety were converted into tenancies in common upon the execution of the mutual will because it provided for a disposition of the real property in a manner which was inconsistent with the tenants' rights of survivorship. Thus, upon the death of the wife, a one-half interest in the real property passed under…
1Opinion of the Court
OPINION
Fay, Judge'.
In these consolidated cases, respondent determined a deficiency of $97,871.17 in the Federal estate tax for the Estate of Robert H. Stewart (Mr. Stewart), a deficiency of $27,000.23 in Mr. Stewart’s gift tax for the calendar quarter ending December 31, 1976, and an addition to gift tax of $6,750.06 under section 6651(a)(1).1 After concessions, the remaining issues are (1) whether Mr. Stewart transferred by gift a one-half interest in certain real property to his children, if so, (2) whether such gift was made in contemplation of death, and (3) whether petitioners are liable…
2Cases cited18 opinions
- Commissioner v. Estate of BoschSupreme Court of the United States · 1967
- Sharpe v. BakerIndiana Court of Appeals · 1911
- McDonald v. MorleyCalifornia Supreme Court · 1940
- Berry v. Estate of BerrySupreme Court of Kansas · 1949
- Estate of Emmet Awtry, Deceased, Nellie Awtry v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1955
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3Cited by5 opinions
- Estate of Gasser v. CommissionerUnited States Tax Court · 1989
- Drake v. United StatesDistrict Court, N.D. Illinois · 1986
- Estate of Gasser v. CommissionerUnited States Tax Court · 1989
- Estate of Stewart v. CommissionerUnited States Tax Court · 1982
- Riet v. CommissionerUnited States Tax Court · 1989