Shugars v. Chamberlain Amusements Enterprises, Inc.

Opinion by

Mr. Justice Nephabt,

Does the conversion of real estate under a discretionary power of sale divest the lien of direct inheritance taxes where the estate is broken into life estates and remainders, and the remaindermen are not presently ascertainable? The court below held that it did.

Lewis Thompson died seized of real estate, and gave to his executors and trustees power and authority to sell and reinvest the proceeds in their discretion. Thompson’s will gave his children a life estate in the net income of the trust created, with a remainder or remainders to the issue, if any; and,…