Estate of Carli v. Comm'r
United States Tax Court
In 1972, decedent, a California resident, created a revocable trust in which he retained a life estate. Decedent transferred his residence to the trust. On the same day that he created the trust, the decedent executed a pour-over will. In 1974, the decedent and his then fiancee, J, entered into an antenuptial agreement, under which decedent agreed to amend the trust and will to provide J with a life estate in the residence upon his death.
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In 1972, decedent, a California resident, created a revocable trust in which he retained a life estate. Decedent transferred his residence to the trust. On the same day that he created the trust, the decedent executed a pour-over will. In 1974, the decedent and his then fiancee, J, entered into an antenuptial agreement, under which decedent agreed to amend the trust and will to provide J with a life estate in the residence upon his death. J's right to a life estate was conditioned on the parties' being married at decedent's death, and was defeasible in the event that she subsequently…
1Opinion of the Court
Jacobs, Judge:*
By statutory notice of deficiency, respondent determined a deficiency in estate tax in the amount of $7,424. In his amended answer to the petition, respondent claimed a $4,026 increased deficiency; thus, the total amount of estate tax in dispute is $11,450.
Due to concession1 by petitioner, the issues for decision are:(1) Whether the value of the decedent’s residence, which the decedent transferred to a revocable trust, should be reduced to reflect the surviving spouse’s right to a life estate in the residence under an antenuptial agreement.(2) Whether the surviving spouse’s…
2Cases cited27 opinions
- United States v. DavisSupreme Court of the United States · 1962
- Merrill v. FahsSupreme Court of the United States · 1945
- Barham v. BarhamCalifornia Supreme Court · 1949
- See v. SeeCalifornia Supreme Court · 1966
- Commissioner of Internal Revenue v. MaresiCourt of Appeals for the Second Circuit · 1946
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3Cited by14 opinions
- Estate of Jalkut v. CommissionerUnited States Tax Court · 1991
- Estate of James H. Waters, Jr., Deceased William Roger Waters and John B. McMillan Co-Executors v. Commissioner of the Internal Revenue ServiceCourt of Appeals for the Fourth Circuit · 1995
- Estate of Elizabeth G. Huntington, Deceased, Nancy H. Brunson, Administratrix v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1994
- Estate of Joseph P. Kosow, Deceased. Eleanor C. Kosow, Personal Representative v. Commissioner of Internal RevenueCourt of Appeals for the Eleventh Circuit · 1995
- Estate of Herbert R. Herrmann, Deceased, Edward I. Herrmann and Lawrence A. Herrmann, Co-Executors v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1996
9 more not listed; retrieve them via the Exa API.