Estate of Barrett v. Commissioner
United States Tax Court
Decedent assumed certain obligations to his divorced wife in a property settlement agreement that was adopted and approved in a California interlocutory decree of divorce which he agreed not to appeal. Thereafter, a Nevada court entered a decree of divorce, adopting therein the property settlement agreement as approved by the California court.
Read the full summary
Decedent assumed certain obligations to his divorced wife in a property settlement agreement that was adopted and approved in a California interlocutory decree of divorce which he agreed not to appeal. Thereafter, a Nevada court entered a decree of divorce, adopting therein the property settlement agreement as approved by the California court. Held: The foregoing obligations were "founded on a promise or agreement" not shown to have been contracted "for an adequate and full consideration in money or money's worth" (secs. 2053(c)(1)(A), 2053(e), and 2043(b), I.R.C. 1954), and therefore are not…
1Opinion of the Court
Estate of Saxton W. Barrett, Deceased, Security Pacific National Bank, Executor, Petitioner v. Commissioner of Internal Revenue, Respondent
Estate of Barrett v. Commissioner
Docket No. 2672-69
United States Tax Court
56 T.C. 1312; 1971 U.S. Tax Ct. LEXIS 57;
September 16, 1971, Filed
Decision will be entered under Rule 50.
Decedent assumed certain obligations to his divorced wife in a property settlement agreement that was adopted and approved in a California interlocutory decree of divorce which he agreed not to appeal. Thereafter, a Nevada court entered a decree of divorce, adopting therein the…
2Cases cited37 opinions
- Treinies v. Sunshine Mining Co.Supreme Court of the United States · 1940
- Commissioner v. WilcoxSupreme Court of the United States · 1946
- Davis v. DavisSupreme Court of the United States · 1938
- Pereira v. PereiraCalifornia Supreme Court · 1909
- Harris v. CommissionerSupreme Court of the United States · 1950
32 more not listed; retrieve them via the Exa API.