In re Estate of Turner

Herbert B. Turner, by will, devised a fractional undivided interest in real property to Thornton F. Turner for life giving him a power of appointment which Thornton F. Turner by his will exercised. The question here presented is whether, in ascertaining the inheritance tax on the transfer of this undivided interest, pursuant to this power of appointment, the customary allowance should be made by reason of the fact that the interest in real estate is fractional. The learned surrogate has held that such allowance should not be made because, when Thornton F. Turner exercised the power of…