Merrill Trust Co. v. Commissioner
United States Board of Tax Appeals
The value at date of death of insurance policies upon the life of a testate decedent of the State of Maine, whose estate is not insolvent, payable to the decedent's executors, administrators, or assigns, is includable in the value of the gross estate.
1Opinion of the Court
*971OPINION.
Smith:
The only question for our determination in this proceeding is whether six insurance policies taken out by the decedent upon his own life during the years 1922, 1923, and 1924, prior to the effective date of the Revenue Act of 1924, and payable to the decedent’s administrators, executors, or assigns, the decedent having the right to change the beneficiary up to the date of death, should be included in the value of the gross estate. The value of these policies at the date of death was the amount determined by the Commissioner, namely, $50,426.90. The value of all of the insurance…
2Cases cited3 opinions
- Hamilton v. McQuillanSupreme Judicial Court of Maine · 1889
- Blouin v. PhaneufSupreme Judicial Court of Maine · 1889
- Hathaway v. ShermanSupreme Judicial Court of Maine · 1872
3Cited by1 opinion
- Merrill Trust Co. v. CommissionerUnited States Board of Tax Appeals · 1930