Estate of Fine v. Commissioner
United States Tax Court
Decedent's will is governed by Virginia law. In his will, he bequeathed to his wife the marital residence and 50 percent of the residuary estate. Art. I of the will provides for payment of administrative expenses as soon as practicable after his death and for payment of estate and inheritance taxes out of the residuary estate without apportionment.
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Decedent's will is governed by Virginia law. In his will, he bequeathed to his wife the marital residence and 50 percent of the residuary estate. Art. I of the will provides for payment of administrative expenses as soon as practicable after his death and for payment of estate and inheritance taxes out of the residuary estate without apportionment. Art. IV grants the executor certain powers, duties, and discretion to be exercised in a manner that does not result in a loss of any part of the tax benefit afforded by the marital deduction. Held, the Virginia apportionment statute, which would…
1Opinion of the Court
OPINION
WILLIAMS, Judge:
The Commissioner determined a deficiency of $54,750 in the Federal estate tax due from the Estate of James A. Fine. After concessions by petitioner, the remaining issue for decision is whether, under the terms of decedent’s will and Virginia law, the surviving spouse’s portion of the residuary estate is required to bear its proportionate share of administrative expenses and estate and inheritance taxes incurred by the estate, thereby reducing the amount of the allowable marital deduction pursuant to section 2056(b)(4)(A).1
All of the facts of this case were stipulated…
2Cases cited16 opinions
- Riggs v. Del DragoSupreme Court of the United States · 1942
- United States v. StapfSupreme Court of the United States · 1964
- Baylor v. National Bank of CommerceSupreme Court of Virginia · 1952
- Estate of Richardson v. CommissionerUnited States Tax Court · 1987
- Alexandria National Bank v. ThomasSupreme Court of Virginia · 1973
11 more not listed; retrieve them via the Exa API.
3Cited by14 opinions
- Pfeufer v. CyphersCourt of Appeals of Maryland · 2007
- Estate of Warren v. CommissionerUnited States Tax Court · 1989
- Estate of Posner v. Comm'rUnited States Tax Court · 2004
- Bandy v. ClancyCourt of Appeals of Maryland · 2016
- Estate of McCoy v. Comm'rUnited States Tax Court · 2009
9 more not listed; retrieve them via the Exa API.