Estate of Margrave v. Commissioner
United States Tax Court
Decedent's spouse applied for and owned an insurance policy on the life of the decedent, naming the trustee of a revocable trust created by the decedent as beneficiary. Upon decedent's death, the proceeds were paid to the trustee. Held, decedent did not possess any incident of ownership with respect to such life insurance policy. Held, further, he did not possess a power of appointment over the policy or the proceeds thereof.
1Opinion of the Court
Estate of Robert B. Margrave, Deceased, The United States National Bank, Executor and Trustee of The Robert B. Margrave Revocable Trust, Petitioner v. Commissioner of Internal Revenue, Respondent
Estate of Margrave v. Commissioner
Docket No. 2210-76
United States Tax Court
71 T.C. 13; 1978 U.S. Tax Ct. LEXIS 44;
October 10, 1978, Filed
Decision will be entered under Rule 155.
Decedent's spouse applied for and owned an insurance policy on the life of the decedent, naming the trustee of a revocable trust created by the decedent as beneficiary. Upon decedent's death, the proceeds were paid to the…
Also in this document: Concurrence; Dissent · Fay; Dissent · Quealy; Dissent · Chabot.
2Cases cited58 opinions
- Helvering v. CliffordSupreme Court of the United States · 1940
- Helvering v. Le GierseSupreme Court of the United States · 1941
- United States v. MichelSupreme Court of the United States · 1931
- United States v. JacobsSupreme Court of the United States · 1939
- Thomas W. Banks v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1963
53 more not listed; retrieve them via the Exa API.