Manufacturers Hanover Trust Co. v. Glaser

The opinion of the court was delivered by

Carton, P. J. A. D.

The issue involved in this appeal is whether the proceeds of certain life insurance policies on the life of decedent James E. Lillis are subject to New Jersey inheritance taxes.

Lillis died in July 1963. About a year earlier he had changed the beneficiary provisions on three life insurance policies he then owned. The change consisted of a direction that the proceeds of the policies should be paid to the trustee under the Last Will and Testament of the insured.

In his will testator placed all his property in two trusts under which…