AMERICAN NAT. B. & T. CO. OF CHATTANOOGA v. MacFarland

352 S.W.2d 441 (1961)

AMERICAN NATIONAL BANK AND TRUST COMPANY OF CHATTANOOGA, et al., Executors,

v.

Alfred T. MacFARLAND, Commissioner.

Supreme Court of Tennessee.

December 8, 1961.

Taber, Chambliss & Stophel, Chattanooga, for appellant.

George F. McCanless, Atty. Gen., Milton P. Rice, David M. Pack, Asst. Attys. Gen., for appellee.

FELTS, Justice.

The question is whether the proceeds of policies of insurance on the life of the testator in this case are exempt from taxation under the Tennessee Inheritance Tax Law (T.C.A. secs. 30-1601 to 30-1637).

The testator had policies of insurance on his life,…