Estate of Bennett v. Commissioner
United States Tax Court
Under the terms of the decedent's (D's) will, the residue of his estate goes to an existing inter vivos trust upon his death, which trust at that time is to be divided into two trusts, the Family Trust and the Memorial Trust. Neither the will nor the trust agreement provides for the Memorial Trust to qualify for a marital deduction. Under the terms of the trust agreement and the will, as written, the Memorial Trust admittedly does not qualify for a marital deduction.
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Under the terms of the decedent's (D's) will, the residue of his estate goes to an existing inter vivos trust upon his death, which trust at that time is to be divided into two trusts, the Family Trust and the Memorial Trust. Neither the will nor the trust agreement provides for the Memorial Trust to qualify for a marital deduction. Under the terms of the trust agreement and the will, as written, the Memorial Trust admittedly does not qualify for a marital deduction. After D's death, the trustees of the Memorial Trust, in an effort to qualify a specific portion of the Memorial Trust for a…
1Opinion of the Court
Parker, Judge:
Respondent determined a deficiency in petitioner’s Federal estate tax of $2,716,879 and an addition to tax of $80,415.1 The issue for decision is whether any portion of the Charles Russell Bennett Memorial Trust constitutes a “qualifying income interest for life” and hence qualifies for the marital deduction under section 2056(b)(7).
Unless otherwise indicated, all section references are to the Internal Revenue Code in effect for the date of the decedent’s death, and all Rule references are to the Tax Court Rules of Practice and Procedure.
FINDINGS OF FACT
Some of the facts have…
2Cases cited37 opinions
- Commissioner v. Estate of BoschSupreme Court of the United States · 1967
- Morgan v. CommissionerSupreme Court of the United States · 1940
- Helvering v. StuartSupreme Court of the United States · 1942
- Riggs v. Del DragoSupreme Court of the United States · 1942
- Arnold Van Den Wymelenberg, as of the Estate of Eleanor Van Den Wymelenberg, and Arnold Van Den Wymelenberg v. United StatesCourt of Appeals for the Seventh Circuit · 1968
32 more not listed; retrieve them via the Exa API.
3Cited by14 opinions
- In Re Estate of HoldenSupreme Court of South Carolina · 2000
- Quinto Depaoli, Jr., Estate of Quinto Depaoli, Deceased, Soila Depaoli and Rachel Craig, Personal Representatives v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1995
- Estate of Engelman v. Comm'rUnited States Tax Court · 2003
- Delaune v. United StatesCourt of Appeals for the Fifth Circuit · 1998
- Estate of Lute Ex Rel. Lane v. United StatesDistrict Court, D. Nebraska · 1998
9 more not listed; retrieve them via the Exa API.