Estate of Kurihara v. Commissioner
United States Tax Court
Decedent established a life insurance trust. The trustee applied for the policy on decedent's life and paid the initial premium with a check of decedent's in the exact amount of the premium. Decedent died 3 months later. Held, the trustee purchased the policy in his capacity as decedent's agent rather than as an independent trustee.
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Decedent established a life insurance trust. The trustee applied for the policy on decedent's life and paid the initial premium with a check of decedent's in the exact amount of the premium. Decedent died 3 months later. Held, the trustee purchased the policy in his capacity as decedent's agent rather than as an independent trustee. Held, further, the policy proceeds are includable in decedent's estate under sec. 2035, I.R.C. 1954. Estate of Coleman v. Commissioner, 52 T.C. 921 (1969), explained and distinguished.
1Opinion of the Court
OPINION
Tannenwald, Judge:
Respondent determined a deficiency of $317,513.19 in petitioner’s Federal estate tax. The sole issue for decision is whether petitioner’s gross estate includes, pursuant to the provisions of section 2035,1 the proceeds of an insurance policy on decedent’s iife owned by a trust where decedent gave the trustees the money earmarked for the payment of the initial premium on the policy.
The case was submitted fully stipulated pursuant to Rule 122. The stipulation of facts and exhibits attached thereto are incorporated herein by this reference.
Petitioner is the Estate of…
2Cases cited14 opinions
- Hicks v. CommissionerUnited States Tax Court · 1966
- United States v. Rhode Island Hospital Trust CompanyCourt of Appeals for the First Circuit · 1966
- Bel v. United StatesCourt of Appeals for the Fifth Circuit · 1971
- Estate of Coleman v. CommissionerUnited States Tax Court · 1969
- The Detroit Bank & Trust Company, of the Estate of Fred W. Ritter, Deceased v. United StatesCourt of Appeals for the Sixth Circuit · 1972
9 more not listed; retrieve them via the Exa API.
3Cited by18 opinions
- Estate of Rosenberg v. CommissionerUnited States Tax Court · 1986
- Estate of Joseph Leder, Deceased, Jeanne Leder v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1989
- Estate of Leder v. CommissionerUnited States Tax Court · 1987
- Estate of Joan Schnack, Deceased, and William D. Schnack v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1988
- Estate of Clay v. CommissionerUnited States Tax Court · 1986
13 more not listed; retrieve them via the Exa API.