Delany v. Commissioner
United States Tax Court
Decedent died suddenly in 1937 from coronary thrombosis at the approximate age of 80 years and 7 months. In 1917 he transferred a life insurance policy for $ 10,000 to his son as trustee, with instructions to invest the proceeds and pay the income in equal shares to his two daughters for life, with remainder over to their issue.
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Decedent died suddenly in 1937 from coronary thrombosis at the approximate age of 80 years and 7 months. In 1917 he transferred a life insurance policy for $ 10,000 to his son as trustee, with instructions to invest the proceeds and pay the income in equal shares to his two daughters for life, with remainder over to their issue. In 1923 decedent conveyed to another trustee life insurance policies aggregating $ 200,000 and bonds of the face amount of $ 195,000, the income to be paid in equal shares to his two daughters for life, then to their issue, with remainder over to issue of the…
1Opinion of the Court
OPINION.
Hmo, Judge:
Petitioners assigned as error the action of respondent in including in decedent’s gross estate the value of (a) the one-third interest of decedent in the estate of Theodore M. Delany, (b) the corpus of each of the three trusts above described, and (c) the direct gift of securities made by decedent to his son in 1935. At the hearing, respondent conceded that the value of decedent’s interest in the estate of Theodore M. Delany should be excluded from the gross estate herein. In respect of the remaining four issues, substantially only two questions are submitted for decision,…
2Cases cited3 opinions
- Helvering v. HallockSupreme Court of the United States · 1940
- United States v. WellsSupreme Court of the United States · 1931
- Bradley v. CommissionerUnited States Tax Court · 1943
3Cited by20 opinions
- Commissioner v. Estate of ChurchSupreme Court of the United States · 1949
- Frances Biddle Trust v. CommissionerUnited States Tax Court · 1944
- Downe v. CommissionerUnited States Tax Court · 1943
- Goodyear v. CommissionerUnited States Tax Court · 1943
- Howard v. CommissionerUnited States Tax Court · 1947
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