Estate of Lumpkin v. Commissioner
United States Tax Court
Decedent's life was insured under a group term life insurance policy paid for entirely by his employer, and the beneficiaries of the policy were designated by the employer. Decedent's only substantive right under the policy was to select an optional mode of settlement which would spread payments to one of the beneficiaries, his spouse, over a longer period of time.
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Decedent's life was insured under a group term life insurance policy paid for entirely by his employer, and the beneficiaries of the policy were designated by the employer. Decedent's only substantive right under the policy was to select an optional mode of settlement which would spread payments to one of the beneficiaries, his spouse, over a longer period of time. Held, decedent did not possess any of the incidents of ownership of the policy within the meaning of sec. 2042, I.R.C. 1954.
1Opinion of the Court
FeatheRston, Judge:
Respondent determined a deficiency in petitioner’s Federal estate tax in the amount of $8,070.42. The sole issue presented for decision is whether at the time of his death, decedent possessed 'any of - the incidents of ownership in a group term life insurance policy within the meaning of section 2042.1
FINDINGS OE PACT
Christine T. Hamilton (hereinafter referred to as petitioner) is the surviving spouse and independent executrix of the Estate of James H. Lumpkin, Jr. (¡hereinafter decedent), who died on March 15,1964. She was a resident of Houston, Tex., at the time she filed…
2Cases cited14 opinions
- Chase National Bank v. United StatesSupreme Court of the United States · 1929
- Boseman v. Connecticut General Life InsuranceSupreme Court of the United States · 1937
- Commissioner v. Estate of HolmesSupreme Court of the United States · 1946
- M. E. Blatt Co. v. United StatesSupreme Court of the United States · 1938
- Lober v. United StatesSupreme Court of the United States · 1953
9 more not listed; retrieve them via the Exa API.
3Cited by27 opinions
- Estate of James H. Lumpkin, Jr., Deceased. Christine T. Hamilton v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1973
- Schwager v. CommissionerUnited States Tax Court · 1975
- Estate of Smead v. CommissionerUnited States Tax Court · 1982
- Estate of John J. Connelly, Sr. (Deceased) and Ellen C. King v. United StatesCourt of Appeals for the Third Circuit · 1977
- Estate of Skifter v. CommissionerUnited States Tax Court · 1971
22 more not listed; retrieve them via the Exa API.