MacAulay v. Commissioner
United States Tax Court
1. Decedent made gifts of securities, furnishings, and art objects to her husband within two years of her death. She had previously provided for him by will. Decedent's executors, with the husband's approval, treated the gift of securities as having been made in the nature of an advancement and the husband's legacy was abated accordingly.
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1. Decedent made gifts of securities, furnishings, and art objects to her husband within two years of her death. She had previously provided for him by will. Decedent's executors, with the husband's approval, treated the gift of securities as having been made in the nature of an advancement and the husband's legacy was abated accordingly. Held, on the evidence, that the gifts were not made in contemplation of death within the meaning of section 302 (c) of the Revenue Act of 1926 as amended, and that the presumption to the contrary has been overcome. 2. Petitioners filed an estate tax return…
1Opinion of the Court
OPINION.
Hill, Judge:
The principal question in this proceeding is whether transfers of stock and personal property made by decedent to her husband in April and July 1938, respectively, were made in contemplation of death within the meaning of section 302 (c) of the Revenue Act of 1926 as amended by section 802 (a) of the Revenue Act of 1932. On the determination that they were, respondent increased the value of decedent’s estate by $485,292, the fair market value of such property on the date of decedent’s death.
It is well settled that the words “in contemplation of death” mean the thought of…
2Cases cited4 opinions
- United States v. WellsSupreme Court of the United States · 1931
- Heiner v. DonnanSupreme Court of the United States · 1932
- Becker v. St. Louis Union Trust Co.Supreme Court of the United States · 1935
- In Re the Final Accounting of MorganNew York Court of Appeals · 1887
3Cited by22 opinions
- Huntington Nat'l Bank v. CommissionerUnited States Tax Court · 1949
- Murphy v. United StatesDistrict Court, S.D. California · 1948
- Guaranty Trust Co. v. United StatesDistrict Court, S.D. New York · 1950
- Estate of Hamlin ex rel. Lincoln Rochester Trust Co. v. CommissionerUnited States Tax Court · 1947
- Estate of Sheldon v. CommissionerUnited States Tax Court · 1956
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