In re the estate of Clark
New York Surrogate's Court
Motion to confirm the report of an appraiser appointed to ascertain the value of certain contingent annuities under the Collateral Inheritance Tax Act. In this matter the appraiser reported as to the legacies to Mrs. George K. Reynolds, Caroline C. Reynolds, and Mary Clark-Reynolds that owing to their uncertain and contingent nature, he is unable to report as to the disposition to be made of them. He, however, reported that he had appraised their present value.
Read the full summary
Motion to confirm the report of an appraiser appointed to ascertain the value of certain contingent annuities under the Collateral Inheritance Tax Act. In this matter the appraiser reported as to the legacies to Mrs. George K. Reynolds, Caroline C. Reynolds, and Mary Clark-Reynolds that owing to their uncertain and contingent nature, he is unable to report as to the disposition to be made of them. He, however, reported that he had appraised their present value. These legacies were as follows :—■ ' To Mrs. George K. Reynolds, fifty dollars per month for life, payable to her if she survive her…
1Opinion of the Court
The Surrogate.
The question here is, has the appraiser erred in reporting the value of the contingent annuities, under chapter 483 of the Laws of 1885 ? If not, should he have further reported them as now subject to taxation?
Counsel for the executors contends that it is impossible to fix the value of the contingent annuities until the death of the present living annuitants (who are not subject to the tax) should happen.
It is contended on the other hand that when the *433amount can be ascertained, the Surrogate must assess and fix the tax, even though the person who is interested in the contingent…
2Cases cited2 opinions
- In Re the Appeal From the Assessment of Taxes Upon the Legatees, Under the Will of CagerNew York Court of Appeals · 1888
- In Re the Estate of HoweNew York Court of Appeals · 1889
3Cited by5 opinions
- In re Curtis' EstateNew York Supreme Court · 1893
- In re the Accounting of HoytNew York Surrogate's Court · 1902
- Fitzgerald v. R. I. Hospital Trust Co.Supreme Court of Rhode Island · 1902
- In re the Appraisal Under the Collateral Inheritance Tax Act, Passed June 10, 1885, of the Property of CurtisNew York Supreme Court · 1893
- In re the Estate of StewartNew York Surrogate's Court · 1890