Savings Investment, C., Co. v. Thayer Martin

This is an appeal from the transfer inheritance tax assessed by the commissioner upon the transfers of property taking place under the will of Lillian O. Watson, deceased, — a resident of New Jersey who died December 22, 1933. The assessment is challenged on the sole ground that the commissioner erred in refusing and failing to deduct from the decedent's gross estate the amount of a claim ($19,592.02) of James P. Watson, and therefore computed and assessed the taxes on the basis of a net estate that much larger then he should have done.

The will in question (disregarding several gifts of minor…