Estate of Wycoff v. Commissioner
United States Tax Court
Decedent's will directed that all death taxes be paid out of that portion of his estate which was not included in the marital trust; however, the will also provided that if in the best business judgment and sole discretion of his executor, such taxes could be more prudently paid from assets of the estate without respect to what was or was not included in the marital trust, they should be so paid.
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Decedent's will directed that all death taxes be paid out of that portion of his estate which was not included in the marital trust; however, the will also provided that if in the best business judgment and sole discretion of his executor, such taxes could be more prudently paid from assets of the estate without respect to what was or was not included in the marital trust, they should be so paid. Held, that the value of the interest of the surviving spouse in property passing to her from the decedent must be reduced in computing the amount of the marital deduction under sec. 2056, I.R.C.…
1Opinion of the Court
Estate of Milton S. Wycoff, Deceased, Zions First National Bank, Executor, Petitioner v. Commissioner of Internal Revenue, Respondent
Estate of Wycoff v. Commissioner
Docket No. 5532-70
United States Tax Court
59 T.C. 617; 1973 U.S. Tax Ct. LEXIS 178; 59 T.C. No. 60;
February 1, 1973, Filed
Decision will be entered under Rule 50.
Decedent's will directed that all death taxes be paid out of that portion of his estate which was not included in the marital trust; however, the will also provided that if in the best business judgment and sole discretion of his executor, such taxes could be more prudently…
2Cases cited22 opinions
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- Riggs v. Del DragoSupreme Court of the United States · 1942
- Ohio v. HelveringSupreme Court of the United States · 1934
- United States v. StapfSupreme Court of the United States · 1964
- United States v. LandCourt of Appeals for the Fifth Circuit · 1962
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