Estate of Wolf v. Commissioner
United States Tax Court
1. The value of payments due decedent's wife on his death as a result of his naming her beneficiary of pension plans and a profit-sharing trust created by his employers in which he had enforceable vested rights is includible in his gross estate.
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1. The value of payments due decedent's wife on his death as a result of his naming her beneficiary of pension plans and a profit-sharing trust created by his employers in which he had enforceable vested rights is includible in his gross estate. Sec. 811 (a) and (f) (2), I. R. C. 1939. 2. Petitioners have failed to prove that decedent, after assigning to his wife an insurance policy on his life which named her as beneficiary, did not continue to pay the premiums indirectly; accordingly, the face amount of the policy is includible in his gross estate. Sec. 811 (g) (2), I. R. C. 1939. 3. (a)…
1Opinion of the Court
OPINION.
Ratjm, Judge:
1. We hold that the Commissioner correctly included in the decedent’s gross estate the present value as of the date of death of the amounts payable under the profit-sharing trust and the two pension trust agreements. This result is required either by subsection (a) or subsection (f) of section 811, I. R. C. 1939.2 At the date of decedent’s death he had enforceable vested rights in the three trusts, procured by the rendition of services and by continuing in the employ of the respective corporations. He could be deprived of those rights only by deliberately terminating his…
2Cases cited12 opinions
- United States v. JacobsSupreme Court of the United States · 1939
- Dimock v. CorwinCourt of Appeals for the Second Circuit · 1938
- Dimock v. CorwinDistrict Court, E.D. New York · 1937
- Estate of Salt v. CommissionerUnited States Tax Court · 1951
- Wolfsen v. SmythCourt of Appeals for the Ninth Circuit · 1955
7 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Estate of Fried v. CommissionerUnited States Tax Court · 1970
- Estate of Wolf v. CommissionerUnited States Tax Court · 1957