Indiana Department of State Revenue, Inheritance Tax Division v. Estate of Goodrich

MILLER, Judge.

Pierre F. Goodrich died on October 25, 1973, leaving the majority of his vast estate to three existing private foundations he had previously established—Liberty Fund, Inc., (established 1960); Thirty-Five Twenty, Inc., (established 1965); and The Winchester Foundation (established 1945). The Indiana Department of State Revenue (Revenue) petitioned the probate court for an assessment of inheritance taxes, approximating $3,500,000, against these transfers. The co-executors of Goodrich’s estate (Estate) contended the transfers were exempt from such taxation by reason of statutory…