Estate of Dawson v. Commissioner
United States Tax Court
At the time of her death, the wife of decedent was the owner of certain insurance policies on his life. The proceeds of the insurance were paid to the designated alternate beneficiaries, i.e., the children of decedent and the wife's nieces. Decedent, who died within 1 hour after his wife, was the sole residuary legatee and initially designated executor under her will.
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At the time of her death, the wife of decedent was the owner of certain insurance policies on his life. The proceeds of the insurance were paid to the designated alternate beneficiaries, i.e., the children of decedent and the wife's nieces. Decedent, who died within 1 hour after his wife, was the sole residuary legatee and initially designated executor under her will. Held, decedent did not possess any of the incidents of ownership in the aforementioned policies within the meaning of sec. 2042, I.R.C. 1954.
1Opinion of the Court
OPINION
Tannenwald, Judge:
Respondent determined a deficiency in petitioner’s estate tax in ithe amount of $51,946.26. The sole issue remaining for our determination is whether, at the time of his death, decedent possessed any of the incidents of ownership in certain policies insuring his life within the meaning of section 2042.1
All of the facts have been, stipulated. The stipulations, together with the exhibits attached thereto, are incorporated herein by this reference.
Petitioner is the executor of the Estate of Walter Dawson, who- died on October 11, 1965. His legal residence at the time of…
2Cases cited22 opinions
- Commissioner v. Estate of NoelSupreme Court of the United States · 1965
- City Bank Farmers Trust Co. v. McGowanSupreme Court of the United States · 1945
- United States v. Rhode Island Hospital Trust CompanyCourt of Appeals for the First Circuit · 1966
- Brown v. RoutzahnCourt of Appeals for the Sixth Circuit · 1933
- Hurd v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1947
17 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- Michael D. Lee v. the Rogers Agency, C. Michael Rogers, and New York Life Insurance Company, Texas Court of Appeals, 6th District (Texarkana)2016
- Estate of Jordahl v. CommissionerUnited States Tax Court · 1975
- Hunter v. United StatesDistrict Court, W.D. Missouri · 1979
- Estate of Dawson v. CommissionerUnited States Tax Court · 1972
- Estate of Jordahl v. CommissionerUnited States Tax Court · 1975
1 more not listed; retrieve them via the Exa API.