Comerica Bank, N.A., of the Estate of Russell v. Dancey v. United States

MERRITT, Chief Judge.

In this somewhat complex action for recovery of federal “generation skipping” transfer taxes paid by Comerica Bank on behalf of the Estate of Russell V. Dancey, the Trust Agreement, in particular Section 2.2C of the trust uses the term “receipt.” If “receipt” is interpreted as conferring a vested interest in Settlor’s grandchildren at the time of Set-tlor’s death, then the generation skipping transfer tax exemption of $2,000,000.00 will be available to the grandchildren and their payment of taxes to the Internal Revenue Service must be refunded. If however, the term…