Estate of Ellingson v. Commissioner
United States Tax Court
As part of a comprehensive estate plan, D and his wife, W, established a revocable inter vivos trust. They named themselves initial cotrustees of the trust; their son was named successor trustee upon the death or resignation of either of them or in the event either was unable to act.
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As part of a comprehensive estate plan, D and his wife, W, established a revocable inter vivos trust. They named themselves initial cotrustees of the trust; their son was named successor trustee upon the death or resignation of either of them or in the event either was unable to act. The trust provided that at such time when both initial cotrustees were unable to act, the son would become sole trustee, and should the son be unable to act, then the First Interstate Bank of Arizona would serve as sole trustee. Upon the death of the first settlor of the trust, the corpus of the trust was to be…
1Opinion of the Court
OPINION
JACOBS, Judge:
Respondent determined a deficiency of $4,300,316 in petitioner’s Federal estate tax. Primarily, the deficiencies are premised on respondent’s disallowance of a claimed marital deduction for property passing to a trust for the benefit of the decedent’s surviving spouse where the trustees have the power to accumulate income. After concessions by petitioner, the only issue remaining for decision is whether Lavedna M. Ellingson, the decedent’s surviving spouse, has a “qualifying income interest for life” within the meaning of section 2056(b)(7)1 in the property which passed…
2Cases cited15 opinions
- New Colonial Ice Co. v. HelveringSupreme Court of the United States · 1934
- Deputy, Administratrix v. Du PontSupreme Court of the United States · 1940
- Jack E. Golsen and Sylvia H. Golsen v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1971
- Metzger Trust v. CommissionerUnited States Tax Court · 1981
- Todd v. CommissionerUnited States Tax Court · 1971
10 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- Estate of Clayton v. CommissionerUnited States Tax Court · 1991
- Estate of Ellingson v. CommissionerCourt of Appeals for the Ninth Circuit · 1992
- Krizer v. CommissionerUnited States Tax Court · 1991
- ESTATE OFCourt of Appeals for the Ninth Circuit · 1992
- Estate of Clayton v. CommissionerUnited States Tax Court · 1991
2 more not listed; retrieve them via the Exa API.