Bailey v. United States

LITTLETON, Judge.

In this case the court on May 29, 1939, entered findings of fact, conclusion of law, and opinion dismissing the petition on the ground that sections 302 of the Revenue Act of 1926, 26 U.S.C.A. § 411, and 401 of the Revenue Act of 1932, 26 U.S.C.A. § 535, required the inclusion in the decedent’s gross estate of the proceeds in excess of $40,000 of insurance under policies taken out by the decedent upon his own life between March 1925 and January 1929 when the facts show that the decedent continued after the assignment of the policies on July 20, 1932, to pay the premiums…