The PEOPLE v. Schallerer

Three cases from the county court of Cook County have been consolidated for argument and opinion. Each involves the following question arising under the Illinois Inheritance Tax Act: where a person purchases an annuity contract providing for a fixed annual stipend for a definite period of time or for as long as he should live, with a provision that if he die before receiving the stipulated amount purchase price plus interest) then the difference between that sum and the annuities received is to be paid to named beneficiaries other than his estate, upon the death of such person does such…