Estate of Pollard v. Commissioner
United States Tax Court
In an antenuptial agreement H and W each waived all claims of dower, curtesy, or other statutory right in the property of the other, and they also agreed in substance that the survivor of the first to die would be entitled to a life estate in the property of the decedent.
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In an antenuptial agreement H and W each waived all claims of dower, curtesy, or other statutory right in the property of the other, and they also agreed in substance that the survivor of the first to die would be entitled to a life estate in the property of the decedent. Held, upon W's death, the commuted value of H's life interest in W's property does not qualify for deduction from W's gross estate as a "claim" against her estate contracted for an "adequate and full consideration in money or money's worth." Sec. 2053(c), I.R.C. 1954.
1Opinion of the Court
OPINION
Raum, Judge:
The Commissioner determined a deficiency in estate tax in the amount of $4,736.61. The principal adjustment giving rise to that deficiency, and the only one in issue, raises the question whether the commuted value of a life estate in the decedent’s property commencing at the decedent’s death in favor of her surviving husband was deductible as a “claim” against her estate that was contracted “for an adequate and full consideration in money or money’s worth.” Sec. 2053,1.R.C. 1954. The facts have been stipulated.
The decedent and her husband were married at Windsor, Vt., on…
2Cases cited14 opinions
- Commissioner v. WemyssSupreme Court of the United States · 1945
- Woolford Realty Co. v. RoseSupreme Court of the United States · 1932
- Merrill v. FahsSupreme Court of the United States · 1945
- Taft v. CommissionerSupreme Court of the United States · 1938
- United States v. Estate of GraceSupreme Court of the United States · 1969
9 more not listed; retrieve them via the Exa API.
3Cited by18 opinions
- Bank of New York v. United StatesCourt of Appeals for the Third Circuit · 1975
- Estate of Frothingham v. CommissionerUnited States Tax Court · 1973
- Estate of Carli v. Comm'rUnited States Tax Court · 1985
- Estate of Rubin v. CommissionerUnited States Tax Court · 1972
- Estate of Labombarde v. CommissionerUnited States Tax Court · 1972
13 more not listed; retrieve them via the Exa API.